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Show ji Hj Hoot Fights U.S. toff; Incorporation of HI , Railroads gHf .-ST. LOUiS, Mo., May 19.--Coiu- B ' ,, ijsulsory federal Incorporation of rail- Hf Jxroads, government guarantees of In- H aome. and the removal of the roads Hj .Srero the Jurisdiction ot the present H .atate commissions, as steps proposed ijirlor to the return ot the railroads , o private ownership, were condemn- fc ! by Ellhu Root In a totter read bo- Sore the Missouri Bankers convention .recently. " Mr. Iloot'a loltor was read by S. "Varies irtteld .president ot the National Na-tional Association ot Owners ot Rail-H Rail-H read securities who had rctiuestcd an B opinion from Mr. Hoot as advisory H .counsel to the association. H Mr. Hoot Indorsod the plan put for H -ward by tho Security Owners assocla- H -'Hon under which congress woild fix i -a fair rate of roturn for tho roll- cwads ot each rate making district as i whole and require the rato making :uthorItIo8 to fix latcti which would I presumptively ylold that return. In ttho inrent of any road making moro ' Chan tho prcHcrilied return the cx-c8a cx-c8a would be taKen by the gavorn-xucnt gavorn-xucnt and used to piouuito public In-m In-m Screst In transportation.' B j)hki:ct ov govi'.hn'.hknt vuax B !' m A general rato fixed by tho gov- K I ernment for ull rullroads, Mr. ltoot B f ' contends, has this effect. If tho rate ' EJ'j '" fixed so as to give a fair return H j 'to weak roadH it will give uu uxces-' W I lu return to the strong roads while V Sf M the rates is fixed on the basis ot HB ill1 tM -in eaultablo return to Uie strong road B S Jt, would drive out of business their BB W weaker competitors. HI j Mr. Itoot piecedcs hh conclusion HH -ivlth tho statenuiit th.it it Is apparent Bjfl7 Jttlint the people ot the country do not BbBI rwisirio enter upon a permunont a- BJH t,em Of government operation. Eh BBm, "j.jwrhQ rullrondB ate to bo returned BJ ' iorlvato oiMiurahlp," ho says, "and Hk Qf F, , -iliey; cannot bo penntttcd to go back HHfi ' Kf tOjiiincoiitrollfd operation of the car- I MI &'' r ,IIo maintains also that some pro- B ' -vision must bo madu to prevent the e - . : J5-, i, ' continuance of the steady progress to "ward bankruptcy which characterised H yllieldocade bofoio the government I! ' T; B.f HK' nMBL, ? i... took possession in 1917; VAST rUlUAO HOLDINGS Ho points out that, half ot the people peo-ple of the United States aro Interested Interest-ed directly or Indirectly In the $17,-000,000,0b0 $17,-000,000,0b0 ot securities representing represent-ing the railroad Investment ot the country and that one quarter ot the savings of thirty million people holding hold-ing policies in tho great lite Insurance companies Is Invested through these companies in railroad securities. "That however," he continues, "is only a small part ot the reason for some arrangements which will maintain main-tain tho value ot these securities. Railroad securities are a chief basis ot credit on which depends all tho business of the country and If that credit be destroyed the consequenco to all American property will bo Incalculably In-calculably disastrous." FAVORS HTATK COJDIISSIONB In regard to federal Incorporation Mr. Root says: "There Is only one avowed purpose which could be ac complished by this plan, and that is to withdraw tho rallronds entirely from tho Jurisdiction ot the stato comlmsHlons, This is unnocessniy because congress has power to authorize auth-orize tho fodornl rato making auth-Itlo auth-Itlo to overrule tho stato commission In respect to tho rates which Intorfete with the Interstate commerce rates. The stale commission sought not to bo destioyod. The peoplo along tho lines of tho railroads in the sevotal states ought to havo near their homo bodies to which they can go for redrew re-drew ot gilovanccs against tho rall-ornds. rall-ornds. They ought not to bo compelled compell-ed to go to Washington for that pui-poso," |