The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-12-25
RAILROADS HOPE
TO CUT EXPENSES
Scientific Methods Of Operating.
Trains Are Given
Trial.
[speclal to INC mines .pispatch.l

Especial to The Times-Dlspatch.J
New York, December 24.--Lower
prices for copper metal, expectation of
lower prices for steel, an increase of
Lchigh valleys dividend rate from
to 10 per cent and specialization OF
the local traction situation in New
York city were the important develop
ments the past week IN wall street
The dispute between the railroads
of the Northwest and their locomotive
engineers was not adjusted. but late In
the week 1t appeared AS II the ran
roads would give the men an increase
of from to 10 per cent. in wages,
and that the threatened strike would
be averted.
Cross earnings Of the railroads In
the Northwest showed Improvement,
because they are being compared with
n period last year when labor trou-
bles and bad weather cut down earn
ings. Explosion OF power house IN
the New York Central terminal at new
York at no time effected the stock,
because the damage, although Ver3
large, will be charged TO construction
account.
Railroads in general have begun to
reduce operating expenses by laying
off passenger trains. Half dozen
trains were laid off during the week
by various roads, and more are prom
;sed. The New Haven also has intro
duced scientific management In the dis
which 1t hopes to make large saVlnS
In operation. Two Western roads are
also arranging for scientific handling
OF freight at terminals. Reports per
sist from Washington that the rail-
roads Will get an Increase III rates
equal to half OF what they demanded,
and will get 1t In January. The roads
west of Omaha have not asked Tor an
increase and will be glad 10 retain
what they already charge.
rpRarl the local traction Stu
alton in New York the stock market
Is interested only so far as the IN
yestment value of securities involved
would be effected. The company oper-
ating the present subway proposes to
make all the extensions demanded by
the city and charge no additional fares
for the uce of these extensions Whlle
there liz universal feeling that this
the people, there is universal distrust
of the company because of Its con-
temptuous treatment OF passengers,
and as result 1t Is very doubtful IL
the offer Will be accepted.
Because of this situation Interbo-
rough metropolitan securities. which
ought to be GID edged Investments,
are mere speculations. Viewed from
one best bet would be that the pres
ent subway company will get what II
wants regardless OF public sentiment
and the shares of the corporation are,
therefore, dangerous snort SAFE.
Hearings before the Railroad Secn-
rifles Commission, appointed by Presi-
dent Taft. developed that leading rail-
road men favor stock issues having no
par value. and prefer Federal to state
regulation. President r. 5. Lovett,
OF the Union Pacific, says he cues
tlons the constitutionality OF any law
regulating issue of securities by the
general government, while Robert
Mather proposes that since the gov
eminent has injured the credit of the
railroads by its new laws 1t should
help them raise new capital by guar
Hnteeing their bonds as the Canadian
government does