Show pose the federal re regulation gu lation or control of commerce between the states chairman knapp believes th ere will be supplemental railroad legislation but that it will have the approval ot the railroad men as well as the public he expressed the opinion that a well conol considered dered law regulating the issue ot of future securities would in effect rive give an official sanction to the certificates that would greatly aid in their sale by the assurance thereby given to the buyer mr knapp said it was his belief that the general railroad situation would improve he pointed out confidence in the integrity and value of leading railroad securities had been restored and that the danger of further drastic legislation by the state seems nearby to have disappeared mr knapp Ind endorsed indorsed indor orBed sed the proposal to exempt railways from the operation ot of the sherman antitrust anti trust law to the extent at least of permitting them to make pooling arrangements subject to certain restrictions the belief prevails in some quarters that if pooling were permitted under tinder governmental supervision a step would thus be taken in tu the direction of nullifying tha the antitrust anti antl trust act as far as the railroads are concerned concern pd thereby removing the tho inconsistencies in the enforce enforcement in ent of the act to regulate commerce and the act aimed at combinations in rt restraint raint of trade mr knapp said that such a concert conceit of action between roads through leg a liZell traffic associations was absolutely necessary to the suitable conduct of railway operations and altogether in the public interest |