Bisbee daily review., 1913-12-23
FEDERAL OWNERSHIP
 DECLARED DANGEROUS
President Brown sf New York Cen. trsl Lines wafns--Rats Decision
 Index to the Future.

ROCHESTER. Dee. 22 William c. Brown, president Of the New York Central Lines. speaking last night at dinner rendered to the president and directors of the Chamber of Com. meroe of the United States. said ia part:
 "i have unboundcd faith in the ia. ture og this country, but I believe we are approaching a crisis when the in- fiuence of every thoughtful conserv- ative, patriotic citizen must be ex. erted to the utmost to stem the tide of socialism which has gained ominous strength during the past dec ade.
 T may be wrong. but as a citizen with years of railroad experience behind me. and whatever remains of life as a business man before me, cannot but believe that government ownership of the railroads of the na- tion would be dangerous mistake
 T think every conservative citizen shrinks from the experiment. but believe the decision shrinks from the experiment, but 1 believe the decis- ion of the rate case now under con sideration before the Interstate Com merce Commission win either sub stantiaIly cheek or prove to be a long step in this dangerous direction.
 If the moderate advance asked for is denisd, in my opinion 1t will be i'm possible. for the railroads to secure the funis with which to make i'm provements without which expansion of the commerce of the nation must gradually come to halt.
 Tn this event, if it should come the demand that the government pro vide funds necessary to supply ade uate transportaticS facilities will Le irresistib,e, and government owner ship and operation with whatever ]. involves for veal or wee to the na- ton. will be the inevitable result.
 The New York Central Lines serve 22 of the 50 citiesih The United States, having a population of 100 900 or more located in the most densely pop. ulated section of the country and serving tue greatest and most diversi- fed industries. absolutely necessary enlargement of it's terminals ana i'm proyements in track and station fa. oilities, require constant expenditures on a large scale, because a railroad is never finished and cannot stop without retrogradiHg,
 These lines, since June 90. 1910 have added Sl5s.Dge.0O0 to the prop erty which they devote to public use The gross operating revenues have in. creased S9.O00,0J0. and yet the whole system had in the year just closed $3 2S4,73O less net corporate income than in 1910. The dividends declared in 1918 were ever $4 ,0O0, 900 less than in 1910, notwithstanding the increase of 9,oOo,900 in the gross operating revenue
 Tn other words since June 30, 1910. there has been added to the property investment about $LC00,0 a week. while the net corporate income in 1913 was less by abuut SGs .eO0 a week than in 1910. indicating that expansion Of business and added fa- cilities have caused a net loss to the stockholders.
 The read has been extended less than 60 miles and only about SIG :. G00,0CO of the amount expended aae gone into the rand Central Terminal during these three years The money has been spent for 'im royemsnts and additional facilities absolutely neces- sary in order to handle the enormous increase .n traffic. and in my opi1 ion, unless limit is to be fixed to the agricultural, commercial and in- dustrial growth Of the nation expendi- lures of substantially this magnitude must eontinue for an indefinite pes jed to permit the railroads to continue to render efficient service.
 During the last IS months. the New York Central has expended within the corporate limits of Rochester in the aeighborhcod of & .500, 900 and it IS unnecessary for me to say to any large shipper present tonight that ss rapidly as the money can be made available there should spent in i'm. proving inc freight facilities alone Of this city. at least sl l,500. 900 more and this applies to scores Of other local iIies on the New York Central Lines.
 The magnificent terminals of the New York Central and Pennsylvania railroads in New York city will pro duce little additional revenue. The handsome passenger stations at Tftiea and Rochester viii not add dollar to The earning of the road These i'm proyements are necessary and they are demanded by the public with an insistenee which cannot be disre- garded. and money must be provided for them.