The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1891-12-15
WHY OARS ARE SCARCE.


| WHY OARS ARE SCARCE.
From the Commercial and Financial Chronicle.
Complaints of scarcity of cars arc no
new thing. They recur at this season,
with the close of lake navigation,
almost as regularly as the old-fashioned
complaint of scarcity of money Ito move
the crops" A supply of transportation
facilities which is fully adequate whom
water routes arc open is never quite
sufficient when all freight is forced to
go by rail
THIS time, however, it happens that
the complaints are much better founded
than usual. Tho lack of cars, instead of
being felt on few roads or in few
localities, is all but universal. Sotno
time ago the Western roads refused to
let any more of their cars go East, and
compelled much freight to be trans
shipped at junction points. Now the
Eastern roads are refusing to furnish
cars for such trans-shipment, since their
rolling stock is already occupied in more
profitable ways.
AS result, there is threatened
blockade of wheat traffic; and that, toe,
at time when it seems like public
calamity Our crops are large, the
European demand is large, and prices
are high; but the means of getting the
wheat from the hands Of the producer to
those of the consumer are limited. Nor
can the farmers wait complacentlY.
Their storage facilities are inadequate
Two or three years ago. when there
were more cars than there was grain to
fill them, the roads were glad to attract
business by allowing their equipment
to be used for storage; to-day anything
of that sort is wholly out Of the ques-
ton.
A mere glance at the figures sufiices
to show the immediate cause of the
difficulty. The statistics in Poor's Man
ual for the last four years are as fol-
lows:
Year. Miles of Road. Ton Miles. Freight Cars,
$751;. 1896 81 ,5tl ,0O000o a50,SsI
1880. 1896 ,D,ig3,OOo,OOO lOGi,9
If we compare 1890 with 1850 we see
that the freight cars have increased
only one per cent. Meantime tho in
crease in mileage has been three per
cent, so that we are actually doing our
business with reduced equipment per
mile. This business has nevertheless
increased about Is per cent. and has
produced corresponding strain upon
this a mere tt temporary difficulty. II we
60 back three years and compare 1890
with 1887, see that we are handling
30 per cent. more freight movement
with only 10 per cent. more cars. In
the absence Of any enormous advance
in railroad economy or railroad methodist
it is inevitable that an unexpectedly
large crop like that of the current year
should find the facilities for handling it
inadequate. There was 4 similar con-
dition of things in 1855 in the matter of
cars; but the difference be-
tween 1885 and 1890 is conspicuous,
for in the former year there was almost
stagnation of business. while in the lat
ter trade was fairly active. In 1855 the
failure of supply was a consequence of
the failure of demand; in 1891 it was
due to other causes.
What are these causes? The answer
is almost self-evident. The legislation
of the last three years has forced the
roads to practice the utmost economy;
and they have economical in train SER
vice and car service. We are simply
suffering from the natural effect of the
r.legislation to which our roads have
been exposed. In. the year 1887 the
supply Of railroad service was distinctly
in advance of the needs of the country;
IucTc WGTc ulOTc Trains anu more cars
than there was traffic to fill them; diff.
ferent agents were competing with one
another for the same business The
legislatures saw an opportunity which
they used to tho utmost. believing
tue roads to be helpless they forced the
rates down below figures which would
pay fair return, partly by refusing to
allow the railroads to combine with one
another. partly by compulsory reduc-
tions in charges Against such legis-
IationJhe railroads had for the time
being no effective defense. When Il
railroad is once built it is there to stay.
it has not the same RECOURSE that is
open to busine SIS with less invested
capital and less strictly localized adj
vantages 1t cannot refuse to do bust
ness nor let its track wear out without
overwhelming loss.
But its cars are sLbject to different
condiditions. They wear out, and will
not be replaced unless there is money
enough to pay expenses. Capital in
vested in equipment is more like CAPT.
tai invested in a store or in a bank. 1t
is what political economists would call
circulating capital; 1t cannot be with
drawn, or at least not replaced, when
prices are insufficient to offer a fair
return. This is precisely what has
happened. Tho railroads have not
kept their equipment up to tho stand
ard OF increasing business. Under ordi-
nary circumstances a road will have cars
enough to meet not only the ordinary