New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-01


by governmental authority. and II We are
10 avoid ownership by the government, the
owners and users Of the railroads must all
work together. Personally. I do not be-
lieve in governmental ownership in &
country like the United States where our
POLITICAL methods are still In need Of i'm
proyemcnt.
Must Advance Rates.
The commissions. both state and ma
xonal naturally feel the great pressure
y the millions Of users OF the railroads
Tor reduced rates and increased facilities.
out II the rates continue 10 decline. or
even remain on the present level, and IL
expenses are increased by higher wages
and cost Of materials and by the introduc-
ion Of different appliances and facilities
more rapidly than the roads can obtain
money. then there is but one result for
some Of the railroads Of the United States
and that is bankruptcy. This will natu-
rally be preceded by q desperate effort on
the part Of the management to postpone
that evil day as long as possible by stop
ping every Improvement and | .tteIment
lndL CHI nc SkODItl Bt-litFC Nal' ''iil7
missions, who have such great powers re-
sllze their responsibility 10 the owners Of
the properties as well as to the users. and
hope earnestly that they will give prac-
teal evidence Of their realization By per-
hitting some advances IN rates.
Should the commissions. federal and
state make a positive declaration that
rates may he advanced so as to permit the
properties to meet all Of their obligations,
pay fair return to stockholders and
leave balance for Improvements. they
will 60 much for tho entire country and
particularly for New England. such a
declaration will at once inspire confidence
and give 10. existing securities a better
standing than they now have, both here
and in Europe. and Will help 10 market
new securities upon an interest basis more
favorable than is now possible because Of
the uneasiness in the minds Of investors
about the future net earnings OF the rail-
roads
1T is difficult to obtain the material
things needed for the upbuilding OF a
railroad, but It is even more difficult to
get men Every cffor, will be made 10
build up complete s;afr of officers and
men from those now in the service and In
New England-men VINO know the local
conditions and who will respond Loyalty
to suggestions for the closest most ef-
hcient and economical operation.
All OF US are animated with a high
purpose to do our fun duty, and we
have no desire for self-aggrandizement
ana -glOrifcation. Our reward VIII
come, If, in time, this complicated ma
chine can be adjusted so that II will run
smoothly, without friction, pay a fair re-
turn to the owners and become so much
part OF the daily lie OF the public that
no more attention is paid to 1t than is
paid nov 10 drawing water from faucet
or turning on an electric light.
Wants Financial Talent.
The management Of the New England
lines wants TO use the best financial tai
ent II can find TO help IL in raising the
money needed. II wishes 10 employ those
bankers, no matter where they live, who
can 90 the work. II would prefer TO en-
ploy bankers IN New York and Boston,
''NNNAhiis Ndlll W IiiiB hi' 1917
ment OF the country and Of the roads.
New England can and will have the
And OF railroad management and service
70 which she is entitled. Payment for
ms can be made in three ways-by some
increase in rates. by the stockholders who
1--WE IN the country TO be served advancing
uie money or by borrowing the money
needed wherever 1t can be obtained
rrooably combination Of all three plans
necessary at this time Of crisis in the
"sw England railroad situation.
and when the money needed is fur
'.'Shed the management proposes to spend
prudently in improving and perfectinS
Poperties now owned.
Inc management proposes to confine
70 activities 10 the transportation bust
ness"