The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1913-10-01


ket new securities upon an interest basis
more favorable than is now possible, be-
cause of the uneasiness in the minds OF
investors about the future net earnings OF
the railroads
Magnitude of Transportation Machine.
Let look for a minute. at a few facts
about the great transportation machlne
made up of the New Haven and New Eng
land lines and associated properties There
1875 miles of railroad and 14,176 miles
of track. OF the track % per cent is In
Massachusetts, 20 per cent in Connecticut
IA per cent in Maine, 1s per cent In New
York IL per cent in New Hampshire
per cent in Rhode Island, 4 per cent in
Vermont and per cent elsewhere There
are 1877 locomotives, .OsS passenger train
cars 1882 freight train cars and 3,54l
work cars. Then there is the marine
equipment of 40 steamers, tugs, barges,
etc. But this rolling stock is not stand
ing still Each year the locomotives
run about 80,0o0000 miles, the passenger
train cars move 22O, 600 900 miles and the
freight cars move, 624, 100000 miles. The
total mileage of these units of equipment
is 100000 miles per day, or more than
O0,0oO miles every hour
Revenues, PayroIts and Taxes.
The operating revenues of all the prep
critics were for the last fiscal year IN
round numbers $155, O00 900. The operating
expenses were $112, 100000. OF operating
expenses approxfrn ate1y $50. 100000 or 50
per cent paid in wages, an average
payment to each employee of about $700 a
year. The remaining Il per cent or $46,-
OO0, 600 paid Tor fuel, supplies, etc. JUL
large part of it, goes Indirectly to labor
engaged IN the production of the u1atert-
ais purchased. This large payroll is an
important factor to the communities serw-
ed by the properties, as much OF the
money finds its way each month to mer-
chants and others. The total taxes paid
by these properties was s7.64o,noo a very
substantial contribution to the FUNDS Ior
carrying the government
Employees and Investors.
To maintain and operate this great
transportation machine requires the serw-
Ices Of from $4,000 to 100000 men 92lfa2 on
last pa,vrofD These employees and these
investors are drawn from all walks of
life They are human beings with hopes
and aspirations and joys and sorro"s-
The livelihood Of employees necessarily
depends upon the return from their labor
and this in turn depends upon the pros
pertt-y of New England and the railroads
of New England In a. smaller degree the
comfort and well being of many investors
depend upon the fretR7rn from their invest
meut, and this ALSO dapends upon the
prosperity OF New England and of her
railroads.. These investors and these en-
/ uloyees, with their families on the basis
OF four to one. make 64o0o0 people, or
nearly or1e-ten4ta of the population of NeW
England Should not their rights. COM
forts and feelings be considered oerefukV
In the current ternpestuous discussion IN
regard to the New England railroads?
The report of the Interstate commerce
commission about The New England rail-
road situation was submitted by Mr.
+
Importance of the suggestions and rec
concentrations and the source from which
/ they come mean theAt they cannoS pc
s decided hur4ded1y and without very thor
ough study Already some steps have been
taken so as 10 have closer supervision OF
the details of the operations Of the proper
ties Other steps OF th4s character will be
taken IL careful sturdy OF the situation
shows that they areFneoessaEy for edioten-
cy and safety. EVERY effort win be made
to bua4d 7ap q courp1ets staff OF officers and
men from those now In the service and In
New England, men who know the local
I eond1tlons and who wiA respond Loyalty to
suggestions for the closest most efficient
end economical operation Is It not IN the
/ inte=est-of New England totreafs her ssrv-
I ants IN the railroad seHsvbce SO that the
| best talent IN the cOuufFy Will want TO
! serusg
| An of us are anazna4ed with high pszr-
pose TO, do our f1l1 dEzEys and we haBe no
I s1orifcatlan- Our reward viii come II, IN
| time this consolidated machine can be
| adjusted SO that It viii Enn smoothly
i without friction. pay q fair return to the
daily Hns of the pa1bthc that no more at-
| tentaon IS paid to It than IS paSd now to
| Drawing water from a faucet CIR turning
| on an electric hight. q
Eas4Ss x-F4stuTe.
| have faith in the fEtune of New Eng
land and in the good sense and judgment
OF her people m Arriving at the right com
I cIustons when they understaud and APP
! KHreciake the real facts have hope that
| q better Understanding of the ratiroad
| side OF the problem wiz be brought home
! 70 the people, so that they can see the
difficulties which directors, officers and
employees in the railroad service are try
| ing to overcome and THAI the people wiz
Feaafze the sincere spirit which aEl41satS
these men to do the best they can watt1
didac13t sft&Esskfof- In sIz0hEoaSss hope We
can discuss tie differences, @lrnay, without
ppejua7tce aud without any disturbance To
/ the tEaalspox ration machine which u so ded-
ioahely adjusted and without any democrat
/ 1zatinn among officers and employees. be-
I cause any disturbance OF this transporta-
ton machine reacts IN many directions. I
| hope that IL we should be unable to agree
! among ourselves we can arbttra&e the
i tribunals and courts which have been
j created for such purposes.
! CosnpfatsEts About Rates and Facilities.
! Important complaints about the railroad
/ generally arise from, first, a desire OF
! one person OF community to have bet
/ ter rates better relation OF rates
/ than has some other person or com
nFuEitY. These complaints can be adj
justed only by expenditures of very large
sums of money, which, of course. can be
obtained only by earning 1t by borrow
definitely unless the rates received for
services are sufficient to pay an proper
/ sxpeus&s-taNces interest and sufficient
| margin to permit improvements to
be made each year out OF earnings and
some return to the owners Of tine securi-
ties.
Financial Advice.
In managing railroad, just aS m any
| other business, different kinds of talent
! and ability must be employed to safe
! guard tbs bxlsineSs-engineering talent
operating talent, comm erciaI talent and
! financial talent The management Of the
New England lines wants to use the best
| financial talent 1t find TO help 1t in
! raising the money needed. It wishes to
employ those bankers, matter where
they i've, who can do the work. 1t would
prefer 10 employ bankers in New York and
| Boston who na4arally want to heap the de-
| veIopment OF the country and of the roads.
The management Of the properties wiz
be more than pleased If New England
| bankers, banks and investors viii furnish
! their full share OF the money needed now
| and in the future and will. assist in OBJ