Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1912-07-27
MocREA HEARD.
Continued from Page one.)

wise being controlled, the question Of
additional cost of labor is most seri-
Gus.
Figures have been presented,
think with sufficient clearness to make
it evident to you the margin is con-
stantly growing between the income
and the outgo. The railroads have
to consider how they are to provide
THE additional capital required 10
make the improvements the public
demand and which the necessities of
giving proper transportation require
Thta money can only be secured from
the public, from the investors There
fore you must keep UP your earnings
sufficiently to show credit that will
result in investors supplying you with
the money needed. in other words, to
make your securities marketable.
Besides that. the cost of living has
run up to the individual, the investor,
Just as it has to other people, and
they feel the same necessity for an
Increased income as those whose in
come is dependent upon their labor.
Ii an advance in wakes took place,
we must receive an advance in rates
or have some compensation or some
way of recouping ourselves"
In conclusion, Mr.. McCrea said:
aThe question is going ODE whether
the wages received are fair or if they
are unfair. and whether they will be
justified in allowing an advance of
rates which are paid by the public.
| Therefore, ! think that side of the
question should receive your most
serious consideration, not only in rem
dering your decision, but in the test
of that which goes with the decision
the explanations or opinions. Coming
from body of men like yourselves
they will carry great weight. not only
with the public and the railroads, but
with the employees themselves"
James A. McCrea. son of the presi-
dent of the Pennsylvania. who is gem
eral manager of the Long Island Rail-
road. testified as to conditions on Long
Island. He said his ros. had spent
so much for betterments, electrified
ton and new equipment, that it had
not paid dividend since 1896 DR..
Albert Shaw of the commission asked
if all these expenditures were not for
the future benefit of the line, and If
tue railroad is not free from compe-
tition.
I'VE had a large business al. Coney
Island until the Brooklyn Rapid Tran
sit took ii away" replied Mr. Me
| Crea He added that the road did a
| good business at the race tracks but
that had also been taken away
'1n other words" said DR.. Shaw,
the increase in morality has reduced
your revenue"
j. C.. Stuart, vice president of the
| Erie Railroad, who was the principal
| witness at the morning session, said
the effect of the new wage schedule.
| if allowed. and of the collateral adj
vances to other employees, would result
in the Erie, the New York. Susque-
hanna and Western and New Jersey
and New York being unable to pas
their fixed charges. This. he said
would result in bankruptcy
The engineers case is already in,
| and after both sides sum up. tomorrow
| the board will adjourn. subject to the
call of the chair.
Chairman Straus said that before a
decision can be reached the mass oil
| statistics submitted by the railroads
will be analyzed and figures thai
have been questioned viii be verified
| by the experts retained by the board
| The experts will submit their deduc-
| tions TO the board. two or three weeks
| from now. and then the members will
| re- assemble for the purpose of max
| lag the final award. Fifty railroads
and 10000 engineers have agreed to
accept this award as final