Show STUDY LEGISLATION FOR FOE RAILROAD BONDS WASHINGTON Nov Kov 30 The The commission commission commission commis commis- sion appointed by President Taft to in inci inquire in- in ci quire ire int into the char the character of legislation for forthe forthe forthe the control of stock and bond issues by br railroads railroads' will make no report ft for some time The hearings opened by the commission com corn mission in Washington Monday are for forthe forthe the the purpose purpose of ot s securing tho the views view and opinions of the federal authorities before any any general plan for federal control Is 15 Isaken taken aken up President Hadley of Yale said at the of today's hearing that it take some time for or tho the commission commission commis commis- sion ston to sift out the information that is beh being g secured Chairman Hall Halt of the Massachusetts commission at Tuesdays Tuesday's session expressed the the- belief belle that permission lon should be given by law to issue securities securities' securities securities' ties' ties ctt at t less than par pal value or 01 some provision provision pro- pro I vision ion made for a a. hl higher he rate o ot dividend dividend dividend divi divi- in order to recompense investors for taking part in the speculative devel devel- There Is s an increasing feeling 1 said Chairman Hadley ladley of the commission that the height of the dividend is sufficient dent reason for tor a swe sweeping reduction in railway rates I think the question of a reasonable return is Is' Is a a. local one said Mr Hall Halt What Wha t Is 18 considered a fair dividend in Arizona would Arizona would be unduly e unduly high in tn Massachusetts Massa Massa- Those conditions ought to be betaken betaken taken talen Into consideration |