The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-11-08
San Francisco Man Tells
East of Tremendous
Activity Here.
CURE FOR PESS|M|SM
Brokers and Investors Advised to
See Country...RaiIroad Bonds
Excellent Investment.

WASHINGTON, Nov. THAT
railroad securities offer fine oppor-
tunity for investment in spite of the
recent furry in financial centers is
the opinion of Franklin X. Lane, a
member of the Interstate Commerce
commission, who returned recently
from an extensive trip through the
middle and the far western states.
Commissioner Lane asserted today
that the industrial condition of the
United States was never on more
solid ground.
"If the stock brokers of New York
wish to restore confidence let them
take their patrons on a grand tour
of the United States and see what is
going on there, he said Then the
money will pour out of safety de-
posit vaults and the railroads will be
enabled to make betterments and ex-
tensions that are imperatively need
ed. Go west, Mr.. Broker, go west.
"This furry is like an attack of
nightmare following a big dinner.
The railroads of the United States
are worth more today than they ever
have been because they have more
traffic to carry. Their embarrass-
ment from a traffic standpoint is an
of riches. | under
take to say that there isn't western
road that can today handle the traffic
that is offered to it. The crops are
so great and the movement of general
merchandise so unprecedented in vol
ume that there is not single rail-
road west of Chicago that has loco
motives or cars enough to supply its
needs. My remedy for doubt as to
the value of American railroads is a
simple one-that the investors go
west and inform themselves"
Mr.. Lane was one of the most ag-
pressive members of the Interstate
Commerce commission in the investi-
CATION of the operations of the Har-
riman lines. 1t was his questioning
at the hearing in New York tnat first
brought out that the Union Pacific
had been conveyed into stock job
bing concern. Mr. Lane wrote the
commission's s report on the Hartman
case and was severe in his denuncia-
tion of Mr.. Hartman juggling of
railroad property. Notwithstanding
this he holds that railroad securities
are stable and sound and that they
really SllOulu Dc etS dlli hStiNV w III
vestors as ever.
"There is one great system that has
increased its traffic so per cent in the
last two years." said Mr.. Lane.
''There are several that have in
creased their traffic 80 per cent in
the same period. Think of what this
means. 1t is not the result of specu-
lation or of booming. 1t does not
come from manipulation or from
tapping new and virgin territory.
The mines and the forests, the grain
fields and the factories have pro-
duced this tonnage. New people have
to be fed, clothed and housed. New
towns have developed and old ones
have grown larger. Demand IS Gre
ated upon all the manufacturing cen
ters for their products. The cities
supply the farms, and the farms sup
ply the cities, and the one avenue OF
communication is the railroad. All
this is permanent Every year the
railroad will profit by the natural
growth of the communities that it
serves, of the expanding territory that
is brought under cultivation, and the
new industries that are developed.
"Fifteen years ago a member OF
this commission publicly declared
that two lines of railroad to the Pa
cifc would be sufficient for many
years to come for the business of
that great section of the country.
Today six transcontinental railroads
are not able to move the traffic which
is rendered. Since January, 1900,
there have been $500 miles of new
in nly 1oI II and Indian
Territory and more than thousand
each in Louisiana, Arkansas, North
Dakota, New Mexico, Georgia and
Minnesota, not touching the older
eastern states or Texas, which has
led all the states in new building.
"The great railroad problem is not
one of rates, but of service" con-
tinued Mr.. Lane. "This commission
received five times as many COM
plants of inability to get cars OF
slowness of movement of loaded cars
as of rates charged, and this not
withstanding the fact that we have
no jurisdiction over operation. Sc
there you area growing country
connected with every part by an in
terdependent interlocking railroad
system based on an interdependent
interlocking economic system. And
with every new thousand in the pop
ulation, and every new acre titled
and every new horse power devel
oped, and every new mine opened
the railroad grows in value. I am ar
optimist as to railroad values, be
cause I know the country we are liv
ing in and the forces that are at work
to make it's railroads still more i'm
portant factors in our development
Your professional bear is not al
American
Hon. H. A. Comins is in Preston TO
o -Four lovc Canator Cop1inc haS in