The Birmingham age-herald., 1908-03-02
The New Law VIII to Into Effect Next Wednesday,
 March 4
MANY SMALL STATIONS
 WILL BE DISCONTINUED
Many Lines Claim That They Are Forced Almost to the Point of Ask ing For Receivers-AIl Off,
 cials Speak Hopefully.

Washington, March 1.-American n railways have made arrangements to comply with the provisions of the
 nine hour law" The operation of th. law will mean the employment by rail- road companies of several thousand additional operators and closing Of a large number of small offices on March {. The discontinuance of railway ser vice at many points. 1t Is realtized will induce at least temporary inconven- fence to the travelling and shipping public but, in order to reduce operae- ing expenses which now seem necessa- ry, the operating officials of the rail- ways believe that this is the only way they positively can meet the situation with which they are confronted.
 During the hearing of applications for an extension of the nine hour law by the interstate commerce commission some astonish ing statements were made by the operating officials of important railways. A good many lines, owing to the reduction in their revenues and to their inability to command the cash necessary to meet their pay rolls, have been forced, during the past ir months. almost to the point of asi ng for receivers.
 ~ Due To Panic.
 In the opinion of railway officials expressed at the hearing under ca tn and in private conversation this condl- ton does not seem to have been alto gether due to the enforcement of regu- fative laws or to the incapacity of railway management. Most of the railroad officials attribute the difficulty to the unfortunate banking situation which developed last September. The railways did not feel the stringency in money until about the first of No- vember. In fact, the month of Octo. Der was one of the best in the history of the business of American railroad ing.
 One railway official ventures the statement that in the country today there are 900 Idle freight cars and one line which he instanced was de- clared to be hauling empty cars back ward and forward because 1t had not yard room or sidings to accommodate them.
 Officials Are Hopeful.
 Not a single official of a single rail- way line who appeared before the com mission has expressed the belief that the present industrial depression would be lasting. In the testimony of near ]y every witness before the commission there was a note of confidence because all of them practically believed that the stringency in the money market from which the country has suffered is not due to fundamental causes. They point out that the crops last year were good; that prices were excellent; that industrial enterprises throughout the country were f1ourishing.
 It was merely the inability to com mand ready cash and the boarding of money by panic stricken individuals which produced so suddenly the re- markable depression from which all have suffered. They practically uni formly express confidence that the re- turn of prosperity will be almost as sudden as the coming of diversity and their arguments as to the enforcement of the nine hour law, they pointed out to the commission that such return of prosperity might seriously embarass tn en. in complying with the law, be- I cause 1t would render t difficult to command the services of competent op- orators in sufficient nunber to meet the needs of prosperous conditions.