Los Angeles herald., 1908-08-07
HARTMAN SAYS
PUBLIC FEELING
IS OPTIMISTIC
THINKS THINGS HAVE NOW
BRACED UP A BIT
SAYS GOOD CROPS ARE BASIS OF
MORE PROSPERITY
Railway Maenate Goes Into Analysis
of Conditions-inereased Cost
of Labor Bad for His
Business
BY Associated Press.


SAN FRANCISCO, Aug. "a
more rational feeling prevails through
out the country in the matter of finan-
cial conditions" said Edward II. Har-
riman, the railway magnate, tonight,
while discussing the question of pros
perity and other subjects of interest
to the people at large. 81 feel that
there is much improvement in the sit
uation. With the crops growing and
those already gathered the production
in the aggregate will be of greater
magnitude and value this year.
This is the basis of prosperity,
When the farmers sell their crops they
will be in the markets to buy and thus
help the merchant and manufactures.
"The increased cost of material and
labor is responsible for a great falling
off in railroad business. Labor is the
basis of the increase. I do not sup
pose there is a railroad of any i'm
portance at present paying fair re-
turn on the money invested, owing to
the increased cost of maintenance.
There must be a decrease in cost or
an increase of rates to conduct the
transportation business properly.
The Risk They Assume
Railroads assume as much risk, If
not more than other enterprises and
ought to have a fair margin of proht.
I am in favor of a compensation tnat
will meet the better facilities afforded
by railroads.
''I do not think it advisable to make
the increased rate at this time, put
think the people and the railroads, to-
gether with the government, are ar
riving at a point where conditions are
better understood and that the out
come will be satisfactory to all
aft is necessary for the railroad cor
porations to have credit with which TO
raise funds to put their roads on
proper basis and have them reach the
| highest state of efficiency. AS wrote
to President Roosevelt and Secretary
| Taft. favor a regulated publicity
but that the railroads must have pro-
ltection. Forced competition by legis-
lation is destructive and not bene-
fetal.
interests will say that we took the
action we did in connection with the
Erie railroad to bridge over an emer-
gency and it certainly proved bene-
fcial to the situation.
Situation Real Serious
"Regarding the ruling of the inter
state commerce commission that the
railroads and transpacific steamship
lines must publish their rates. L feel
that the situation Is a serious one.
The steamship companies have never
asked the government for a subsidy
or assistance in any manner"
The latter statement was made by
Mr.. Hartman in reply to question
as to whether or not he did not feel
the new regulations regarding the pub
Iication of rates would favor the steam
ship lines operating via the Suez canal
to the injury of the transpacific COM
panies.
Asked if he felt the young man of
today has better opportunity for ad-
yancement than he had forty years
ago Mr.. Hartman replied that his
chances were much brighter, owing to
improved facilities in almost every di-
rection.
Replying to a query as to the basis
of his own success the railroad official
said he accounted for 1t by persis-
tency and determination to do the thing
that is undertaken the best way that
it can be done.
Steers Clear of Politics
Mr.. Hartman declined to discuss
notifies the injunction platforms of the
political parties or the decision of Judge
Grosscup. He said he would be on the
Pacific coast for about month and
(COntinued Page TwO)