  Using the gaussian representation for propagators (which can be proved to be
exact in the infinite number of loops limit) we are able to derive the Regge
behaviour for ladder graphs of $\phi^3$ field theory in a completely new way.
An analytic expression for the Regge trajectory $\alpha (t/m^2)$ is found in
terms of the mean-values of the Feynman $\alpha$-parameters. $\alpha (t/m^2)$
is calculated in the range $- 3.6 < t/m^2 < 0.8$. The intercept $\alpha (0)$
agrees with that obtained from earlier calculations using the Bethe-Salpeter
approach for $\alpha (0) \gsim 0.3$.
