Investigation of Shipping Trust; Hearings on House Joint Resolution No. 72, Providing for an Investigation of the So-Called Shipping Trust, Monday, December 18, 1911 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1912. Excerpt: ... ADDITIONAL STATEMENT OF HON. WILLIAM E. HUMPHREY, A EEPEESENTATIVE FROM WASHINGTON. Mr. Humphrey. I want to add one thing that I forgot to my statement, and that is one other method that is used by all these conferences known as "fighting ships." Whenever any independent line starts (the case of Peter Wright & Son was one illustration, and the Uranium Line more recently was another illustration), they immediately designate some ship to run from the same ports to the same ports where this new line is running. There may be one or two, or more. They call them "fighting ships." Those ships are instructed to reduce rates to any point necessary to drive out the new line; and after they drive it out they divide the losses among the conference lines. The evidence on that point is complete. There is no question about that. That is one thing that I forgot to mention. That shows how they prevent competition. In the present situation it is impossible for any private interest to start an independent line of steamships from this country to any other country. The committee thereupon, at 12.05 o'clock p. m., adjourned until Monday, January 15, 1912, at 10.30 o'clock a. m. Monday, January 15, 1912. The committee met at 10.30 o'clock a. m., Hon. Kobert L. Henry (chairman) presiding. The Chairman. Gentlemen, the Committee on Rules is in session for the purpose of hearing several gentlemen touching several matters embraced in House joint resolution 72, introduced by Mr. Humphrey of Washington, and House resolution 283, introduced by Mr. Foster of Illinois, and House resolution 226, introduced by Mr. Lobeck of Nebraska, the last two resolutions touching the investigation of the Harvester Trust, and House resolution 314, introduced oy Mr. Lindbergh of Minnesota. We have been c...