The Washington herald., 1907-11-01

That railroad securities offer excellent
opportunity 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
IN extensive trip through the middle and
the far Western States.
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
he said
This furry is like an attack of night
mare following a big dinner. The rail
roads Of the United States are worth
more to-day than they ever have been,
because they have more traffic. I under
take TO say that there isn't a Western
road that can to-day handle the traffic
that is offered 90 it,
THE crops are so great and the move
ment Of general merchadise so unprece-
dented in volume that there is not
single railroad west Of Chicago that has
locomotives or cars enough 10 supply its
needs
My remedy Tor doubt as TO the value
Of American railroads is a simple one
that the investors go West and inform
themselves.
show Great Increase.
AIr Lane was one OF the most aggres-
sive members of the Interstate Commerce
Commission in the Investigation Of the
operations of the Hartman lines It was
his questioning at the hearing in New
York that first brought out that Union
Pacific had been converted into a stock
JObbing concern.
Air. Lane wrote the commissions report
on the Hartman case. and was severe
in his denunciation of Mr.. Harriman's
Juggling of railroad property. Notwith-
standing this he holds that railroad Sc
cUrities are stable and sound. and that
they really should be as attractive to
investors 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 increased their traf-
fc 80 per cent in the same period. Think
of what this means. II is not the result
of speculation 0r of booming, It does rot
come from manipulation or from tapping
new and virgin territory. The mines and
The forests. ,h5 grain fields, and the fac
tories aav. produced this tonnage.
New people have 10 De fed, clothed
and Ho"s.d. New towns have developed,
and Odd ones have grown larger. Demand
is created upon all the manufacturing
cen, rs for their products. The cities sup
ply the farms. and the farms supply the
cities. and the one avenue of cOmmuni-
cation is the railroad All this is perma-
neut. Every year the railroad viii profit
hy the natural growth of the communities
that il serves. OF the expanding territory
that is brought under cultivation. and the
new Industries that are developed.
six Railroads insufficient.
Fifteen years ago a member Of this
commission publicly declared that two
lines of railroad to The Pacific would be
sufficient for many years to come for the
business of that great section of the
country. To-day six trans-contiuental
railroads are not able 10 move the traffic
which is rendered
"SncS January. 1900. there have been
5.5l0 miles of new railroad built in Ok
lahoma and Indian Territory, and more
than "a thousand miles each in Arkansas
Louisiana. North Dakota, New Mexico,
Georgia. and Minnesota, not touching the
older Eastern States or Texas which has
led all the other States i'm building
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