The Mathews journal. (Mathews C.H. [Court House]) 1903-1937, 1907-05-02


urmeasOnably low foI the roads
enumerated, considering the pre-
portionate value of the property
used by them in interstate bust
ness and the character of service
rendered to intrastate passengers.
This conclusion is based upon
the business of the roads respect
lively, as shown by the evidence
IN this case, and bY the operating
reports for the year of 1905 and
1906.
1T is true that the net earnings
OF the several railroads ennmerat-
ed in this group are variable to
this amount, and the presumption
might a Use that the roads show
ing the smaller earning power
s lould not be cIassed with those
showing the larger. We feel
that this view is defeated by the
TACT that the larger earning roads
with one or two exception. are
using property of much greater
value per mile than that used by
the smaller earners.
1t has been urged by the car
riers that the prices of material
and labor have greatly increased
during the period of this investi-
CATION and are continuing TO in
crease, and that the most that
can be said as to this claim, when
properly analysed, is that the
profits on increased gross earnings
are being absorbed by increased
charges for labor and material.
though the commission is not pre-
pared to find that even this is
wholly true.
In the case of some of the
roads, such for instance as the
Southern, it is found that they
are failing to accept and carry
much of the interstate Virginia
traffic originating on their lines.
or rendered to them by connecting
lines. and which is now making
urgent demand upon them for
transportation. This failure to
transport traffic rendered, and
naturally tributary to them, is not
found to exist on those roads
which are conducting the largest
amount Of business, but on the
roads which are handling along
their tracks a volume of traffic be-
low average.
1t would appear from the evil
dence that if manv of the roads
which complain of lack of revenue
would utilize fully. as they should
the improved facilities now own
ed by them, both of power and
equipment. in the transportation
of traffic already offered to them.
the profit arising from increased
business would soon take care OF
any increase in the cost of mater
ial and labor.
The State of Virginia and the
whole South is throbbing with en-
ergy and enterprise. and teeming
with traffic as never before. The
field of opportunity for railroad
companies has widened and con-
tlnues to widen beyond the most
sanguine expectation of their Of
fetal heads and admittedly far
beyond their present state of pre-
paredness.
We have shown that the net
profit arising from the handling
OF this greatly increased and in
creasing traffic. even under the
reduction herein ordered. will
be ecu al to, if not greater then
that enjoyed by other standard
and legitimate business in the
country.
1t is inconceiveble that the car
riers should, under these condi-
tons. find themselves unable to
command the financial credit
necessary to the performance of
their public duties and to the pro-
vision of such increased facilities
III the nature of track, terminals
and equipment as may be neces-
sary to keep pace with the expan-
sion Of traffic of which they are
benehciarierS.