New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-12-08
OUTLOOK FOR THE
RAILROADS GOOD
Fifth Annual Report of the Rail-
way Business Association Is
Very Encouraging.

The fifth annual report of the Railway
Business Association, now made public
carries a tone of optimism in the outlook
for railroads in this country. The report
in part, says:
THE public does not and should not
relinquish it's purpose of scrutinizing the
practices of railway corporations and
dealing with these where necessary. But
il has been made manifest that when ma
tional prosperity requires Strengthening
of railway revenue public opinion VIII
discountenance attempts to postpone &C
ton on the pretext that one or another
specific theory of conduct must first be
established and enforced. Railway man
ayers are endeavoring as energetically as
business men or men in public life to Inn
prove standards both OF efficiency and OF
propriety.
"a number OF members OF the Interstate
Commerce Commission and OF state COM
missions, after long service but still In
vigorous health, have recently retired.
Not even an enlightened public opinion
will insure the success of regulation un-
less men who have acquired experience
and knowledge are retained. Security OF
tenure minimizes the waste OF time and
danger OF mistakes involved In breaking
in new commissioners; 1t gives the older
commissioners an independence and Sc
renity which promote efficiency and quail
ity OF work, and IL enables the appointing
mower to command the services OF men
who would not accept IL they believed the
positIon would be used as a political re-
ward.
More Business, Less Income.
per mile OF line operating income IN
1913 was only as per cent above that In
1910. and In July. August and September
OF the new fiscal year only per cent
above 1910. Fixed charges are still to be
deducted. These In 1912 reached 46s per
cent OF operating income The wage
award Of six millions year to the con-
ductors and trainmen will further depress
net earnings Of the Eastern roads. Those
lines In 1871 1912 and 1918 spent more than
$3.50 900 900 OF new capital for improve
ments. and yet in 1913. with gross earn
ings slS6OO0.OCO larger than In 1910, their
operating income was over slo'"o'VVo less
There can be little doubt that at the pres
emit time the railways OF the country
with an investment in plant greatly ex-
ceeding that in 1910, are realizing actually
less money for improvements, DIVIDENDS
and surplus than they were when the
rate advance was denied them
Facilities Grow More Slowly.
"What were the railways obliged to
leaye undone in order to produce even the
income they have? In the calendar year
1907 they built 2s4.1S freight cars; In 1917.
only l52, The passenger car record
was 5,457 In 1901; production in 1912, only
1850. In 1907 the locomotives built reached
Z, S62; In 1912, only 4,9l5. Volume OF orders
for rolling stock I'm 1913 has been less than
in 1912. Main track built in 1901 was 5.2l2
miles; in 1912, but 2,9T. Yard track Oiscal
years. built In 1907 was S,ssS miles; In 1911
--latest figures), 1892 miles. Terminal ia
cilities, therefore. of which yard track is
an important part, have not developed In
proportion to the demands which COM
petent authorities have predicted.
NO systematic method has yet been
put in effect for co-ordinating Congress,
the legislature or the wage arbitration
board which compels expenditures with
the commission which regulates rates.
We urge the need of mechanism for
holding down the obligatory OUTLAWS to
TIT the railway pocketbook."