The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1913-10-03

HOWARD ELLIOTT, PRESIDENT NEW YORK
HEw HAVEN AND HARTFORD RAILROAD
COMPANY AND CHIEF EXECUTIVE OF THE
NEW ENGLAND TRANSPORTATION LINES.
England is just as important to her flu
ture growth as TO have adequate banking
facilities adequate commercial organiza-
tlons and "A sensible sane and honest pub
lie opinion that will be reflected I'm a gov
ernment that will not be swayed by the
whims, prejudice or fads of the moment.
To solve II right win require much pa
tience, work and money from those both
I'm and out OF the railroad service, and the
problem appealed to me very much when
some OF my friends paid mo the very high
compliment OF asking me to come here and
help.
Management by Owners.
Some OF the cifiicuties and inadequaces
OF the transportation machine OF the Unit
ed states today are the result OF drifting
away too far from the idea that transpor-
tation 10 business, which I'm the long run
must be governed by the same great hu-
man and natural laws that affect all hu-
man affairs. In saying this | do not wish
to be understood as meaning that there
should not be supervision and regulation
OF the great public service corporations
and that changing conditions do not make
But l do say that care should be taken
not TO have that supervision and rogula-
tion go 80 far that II practically takes the
real power OF management away from
those who have invested their money IN
the business. SO long as they have their
money invested, so long as they are re
spunslblc for the financial results so Ions
as they give adequate. reasonable and
safe service at rates that will permit of
gross earnings sufficient TO pay expenses
taxes, interest on debts take care OF
depreciation and obsolesCenCe and pay 3
reasonable return TO tie owners the,
must have the right to decide many i'm
portant questions. particularly those re
lating TO the details of service. the or.
sanitation OF the stan and the rules and
regulations under which the starr aut
employees must work 20 produce IN,
greatest efficiency and safety
Regulation and Ownership.
During the last five years l have trle,
throughout the west TO present the railroa,
side OF the transportation question. Rut
also had In mind a much broader ausstio,
namely that tho country cannot attalr
It's best growth unless tho people can b
| made 10 sec that adequate and SAT
| transportation is absolutely necessar,
| and that II cannot be obtained through
! private ownership unless. under homes
| management. enough money is earned 4
| pay approximately the same return 10 tn
| Investor as II received 10y investors Il
| other classes OF business I'm the sam
territory. and In addition lay up a fun,
To provide Tor bad times when earning
| are poor
The policy OF the government-nationa
! and state--during the last twenty-nv
years seems 20 have been 10 decide rat
! questions In the great majority OF case
In such a way that rates were rarely al
vanced and generally were reduced. an
20 introduce rules, regulations and meth
DDS that Increased expenses. I 30. how
ever. want 90 make q plea that. couple
with restraint and control there shoul
De protection 20 the owners OF the 80
curities. The commissions - both stat
and national-natursiiy feel the grea
pressure Of the millions of users OF IN
railroads for reduced rates and increase
facilitics But n the rates continue I
decline, or even remain on the preser
level And n expenses are increased
highsr ~agss and cost OF rnststiaie, q
,.s-.sA An Aeth mara