The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-11-08
Uncertainty of Money Holds
Vack Rail Line Buying.
President Ripley Says More
Equipment Is Expensive.
HEADS GIVE their IDEAS
Expressions From Railroad
Presidents Over Country.
Other Items of Interest in the
Traffic World.

New York. Nov. S.-A number OF
railway presidents were asked TINS
week by the Evening Post II there
was any congestion of traffic on their
1;ras They were also asked how many
more freight cars they could USE ana
how many new cars would be receives
+his YEAR. Another question put 10 an
Of them was: Do you expect the pres
ent general prosperity to contlnue
Finally, they were asked Tor tnei I
views regarding the outlook for the
sale of securities to raise FUNDS Ioa
needed facilities. Those questions Were
answered as follows: 1910
E.. p. Ripley, president of the Santa
Fe:
mo company can afford to own
enough cars to take care OF rne PeaA
of the load The road has no conges-
ton of consequence so far the prlce
railroads have to pay for money anu
uncertainty whether they Will De al
lowed to earn interest on 1t discouTds1
any attempt to provide new faclllties.
Frederick A. Delano, president OF tne
Wabash: .-.- .-..,.-
II should say. just as a mere spec
11lation. that if the total car equip
ment of the country were 1ncreaseu
Is to 20 per cent there would stlH pe
some shortage. It is q serious ques-
ton whether railways can be eXpecleI
to prepare themselves to completely
serve the business OF maximum pei
DDS: for If this were done railways
would have a heavy investment III
equipment, which for considerable per
iods of the year would be unproouc
tive. I am not optimistic as 10 the
ability of railways to market new Sc
curities. Industrial security ISSUES
seem TO have the field, because their
ability to earn surplus revenues Is
great, and they do not encounter re-
striction from legislative sources. see
no reason why the heavy business
which has come upon us in the last
80 days should not be of some dura-
ton"
Charles H. Markham, president Oh
the Illinois Central:
Taking the railroads as q whole, ana
speaking for the Illinois General III
particular. I hardly think it fair 70
assume that there is congestion Oh
traffic at this time. There is brisk
demand for cars and the movement Oh
some business is being delayed for a
few days The prospect Of a market
for the sale of new securities, to pro-
vide funds for new facilities, cannot
be said to be encouraging. investors
may prefer to put their money in IN
dustriaI securities, the profits of which
are not regulated or restricted by state
or federal commissions. There does not
seem TO be any good reason for be-
lieving the present era of prosperity
will not continue for IS months or
two years Even with poor or indiffer-
ent crops next year the impetus given
business this year will probably extend
over into the second year"
William A. Gardner, president of the
Chicago & Northwestern:
I'VE have a full car supply. We ex-
pect to have adequate car supply for
the peak of load and have no knowl-
edge of any traffic congestion"
q n hn
Northern:
'Tn my opinion, predicted upon pres
ent mileage, we have plenty of cars.
provided the equipment is released
promptly a terminals There is no traf-
flc congestion in any territory reached
by this company. It is my opinion that
present business conditions can reason
ably be counted on to continue"
H. M. Nudge, president of Rock
Island:
'It is impossible to tell how many
more cars we could use, because we do
not know how many more could be
handled and promptly unloaded at ter
mtnaIs. My opinion is that the market
for new securities will not be sufficient