The Birmingham age-herald., 1907-03-18

in 1906, 5,55S, 794-an increase of 13s.5o per cent
 Tone of freight carried one mile in 1896, 37O, ,412061 in 1906 93S, As, ,179-an in- crease of 1884 per cent.
 Gross earnings in 1896. s, 6s5,s65; in 1906. $S,545 ,S96-an increase of 129.39 per cent.
 Expenses and taxes in 1896 $2,645s73; in 1906, $6,S92, ,671-an increase of 1i5S per cent.
 Average receipts per ton pc, mile in 1896, 0.7S; in 1906. O.72.
 .'It will be noted that the gross earn ings increased 12939 per cent in ten years, but also that the expenses and taxes in the same period increased 141.5S. This increase in expense is caused in part by increased taxation. which in 1896 was S1065O0; 1906, s2l6O02. .46-increase, $1O9. .502 46 or 1O1.s2 per cent.
 "B t the greatest increase is in the in- creased cost of labor and material.
 Tt will also be noted-and this is the amazing feature-that the only item in which there has been no increase in the last ten years has been the average re- ceipts by the railroad company per ton per mile. In fact, in 1906. they were &C., tually less than they were in 1896 or in 1905 by the one-hundredth of 1 per cent. At a time when prices in every direction are increasing and are higher than they
 
 average relative receipts from freight traffic on the line of the Cincinnati Southern are decreasing. The expense ratio is increasing faster than the earn ing ratio. and that which the company Ina. to sell-transportation-is worth less than in 1896.
 "Furthermore, the average receipts per ton per mile of 72-100 of per cent of this company is in contrast with the 84-10O of cent received in 1905 by all the rail- roads of the gulf states, including those of Kentucky and Tennessee, as shown by tho interstate commerce commission.
 There Stares in the Face.
 'In the face of these conditions the re- quirements of the lease, the increased de- mand of business, the need of still further capital expenditure to meet these demands, we are confronted with:
 Demands from the country at large to relieve the congestion; demands from the shippers that rates be reduced; demands from supply peopll for enormous in- creases in prices of goods furnished to railroads; demands from all classes of employees that salaries be increased.
 "The railroad that ceases to improve has begun to die. There is no time or point when 1t can be said to be perfect Nor is there any limit, as far as human foresight can distinguish, to the demands  solutely faster than ever before. With each million added to its population million new wants spring into activity. The great and ever present need is cap ital to meet the increasing requirements. How can capital be obtained except through ability to pay interest? And how can interest be paid except from earn ings?
 Pressed on the one side for more taxes, more salaries, more wages made necessary by higher prices, for more facilities and absolute safety, and on the other by demands for lower rates which mean diminished earnings, in one direc- tion or the other there must be disap- pointment. President Finley in his state inent already quoted said the time Is near when it will be-and I go further and say that the time has now come when 1t is absolutely necessary for the public to take the choice between better and safer facilities on the one hand and lower rates on the other. In the nature of things 1t is impossible to have both.'