The Roanoke times. (Roanoke, Va.) 1897-1977, 1897-02-11

loss of earnings, reductions of rates be-
low the paying point, actual loss un pas
scngcr traffic, deterioration of road bed,
reduction in the number of employees,
others working half time, receiverships,
foreclosure sales, practically half of this
enormous investment bringing no re-
turns, and the blight Of insolvency stead
lily settling down upon our entire svs-
TEN.
These losses aud disasters lave been
wide. spread and arreaching First. II
great army of direct employees that
reached 900 few years ago has been
veducea fully 10000. With continued
prosperity the railroads of this country
to.dar would have furnished direct em-
pioyTlent to Mt least one million persons.
not to mention the millions indirectly
employed in car shops, locomotive works,
blast furnaces, sail mills, aul thousands
of Industries dependent on railways for
their prosperity. Statistics show that I'M
der existing conditions mast of our rail
ways are running behind, while the few
telat are appareS thy holding their own are
| XII iioHt iu.'S-u VI lOr tffc future. NttR
freight and passenger rates less than
those of European countcics, where labo,
| is paid abou. half the American rates
| Mr.. Porter. asks how song will oar rail-
| roads he able to tide aong with scducci.
! forces nnd three.qumtter time? Unleys
the decline in receipts are stopped, wages
must he reduced ;u,i then the trouble
will begiS. To take All army OF 100000
| men out of active employment sneans IN
| nnnslal loss in wages alone or :S150.GD0.-
| 00G, which is IL tlire:t loss, while the in
direct loss comes from the irrep;.ral,le in
| jury 90 the properties by not, ky ping
| th@m III repair.
The reduction d rates E,coyTaen: 1s& 0 and
iSa1:-sepresented reveuueVot ovos 500,
| a00,CpO: to carryythese facts back 20 1887
I've have II loss to the railways ;dS about
SlGYa00,000. The loss o. .ziivides.ds and
jnte,s.st in bonds brings iiardss .ips to
hundreds OF thousands o. people OF linn
| ite1 means waS have Invested IN these
| securities, which, is no 3ess severe than
! thcs oss of wors- and WAGES to che laborer
| AfeNrefnl soudy of railwev budgets would
briAg ont tlac appalling fact thas probably
! iha!f of such Investments are ..unproduc-
! 't!s-, cert.tinl, five thousand sa lions OF
! thUn. The -cioomy list. of .noss-Cl vidend
! pa ing st0tks has of lase years l.. en- gain
| Ing from abort GO per cert. ton e ears ago
| 10 20 per CEN now, SEX whi.e this de-
erase of rnses has s,eel going on the
cetr of ruDni2S train .t:,s not-si milarly
decreased.
/ With the exception OF 1894 passenger
'ra-es reached their lowest in 1865, while
freight ratef, sive n small ralls- in 1892.
'a'S; steadily coming dow. 1t is -enid that
II the Pennsylvania Bnilroad ompany
ooaild secure 2le same F:tes a<ssshe Lon
don and Northwestern Company the an
NAL earnicgs could he incress I'd SIP
iWO,OO0. George II. Blanchard, ig, his re-
cent Testimony before the interstate COM
.mercc comnfite.e OF the :tenate.- 1aid that
mad oar rzlilnAys collecaed the aowest of
tiie European ..xarges we would nave re-
ecived $310 100000 mols- l.hun va. did re-
! etive. This uiation WAS based on fig
sa"es of 1922. 't1she figures of 1875, which
a-e lower Cor the United States. would
make greater difference. Con,N .cnting
75a OH the above figures tRe.comI i4er SAYS:
The imrartin student of thee data
must be struck with the necessity IF COM
,nercial as well AZ industrial recqr struc-
tisl. The president and other officers
VIZ . have ch&rse O. these great preh critics
sieuld he accorded the same oppcraunit V
To 6e heard rs, The manuf;laiurn ,dus.
friss. So far rs / can learn there is no
desi on the .part,r railway mans gers
to generally raj sc rr,es. 1yl.re is, dow
ever Il widespread i,elief fd.-lt rock bot.
tomG,rces have been reachs1, and .:hat
anything, even f.he Merest ejade la&.er,
will. be absolutely ruinous Che PEG Die
of the United. States, inc luding n,le million
who should Le directly engaged in
transportation, the shippers and mani
factura-s, might as well realize now. q ;
| when destruction has set in, that aur rail-
| way system cannob lose aEother 81 81, 00Q,-
| 600 Of Income in ten years -;in average of
4Sl5, OO0, WO per ann&m~twIhout swarping
down with it the very interests which
| sustain these roads.
| Those who realizethese new cond5Sions
| have no excuse or apologies Ior past lsis-
management. nor for the methods by
wRch some. OF these roads wee built III
! Il liG,ge measure the VIVID ana the winter
and + he fraud have been squeezed ont az
| these properties. In theIr' Dlaos now Au