No Emergency

Western railroads wanted a general freight rate increase of 5 percent; the Interstate Commerce Commission investigated for more than a year and last week said, "No." Its report asserted that, "so far as the major portion of the western district is concerned, no financial emergency exists."

Although western carriers scowled to see hopes of extra dividends go skipping off, yet they could be thankful that the I. C. C. had not bowed to farmers' demands and made them cut rates for agricultural products.

Philip J. Roosevelt, who organized the Northwestern Railroad Security Holders' Committee, shouted fretfully; blamed the railroad executives for allowing the I. C. C. to deny them a rightful increase; said that his committee would take the case to the courts if necessary.