Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1913-10-01
HIGHER RATES AND
BETTER r. r. SERVICE.
Continued from Page one.)

fads of the moment. To perfect that
transportation machine, 10 keep II
ready to serve. to operate it safely and
economically and in harmony with the
public is n very Interesting and COM
plicated problem. worthy of tie best
intellectual effort of any man. To solve
1t right will require much patience,
wori, and money from those both In
and out of the railroad service. | have
come here to devote the best that is
in me to this great service
IF we are to continue to have pri-
yately owned railroads supervised and
regulated by governmental authority,
and If we are to avoid ownership by
the government, the owners and users
of the railroads must all work together
Personally j do not believe in govern
mental ownership in a country like the
United States where our political meth
ods are still in need of Improvement.
THE policy of the Government-Na-
tional and State-during the last TWEEN
ty-five years seems to have been TO de-
eide rate questions in the great major
ity of eases in such a way That rates
were rarely advanced and generally
were reduced; and to introduce rules,
regulations and methods that increased
expenses. l am not contending at this
time that this policy was and is wrong
--or that control and restraint by Gov
ernmental authorities Should cease-al-
though something could be said about
that great question. l do, however.
want to make plea that coupled with
restraint and control there should be
protection to the owners of the securi-
ties.
The Commissions-both State and
National naturally feel the great
pressure OF the millions of users of the
railroads for reduced rates and in
creased facilities. But if the rates
continue to decline, or even remain on
the present level, and il expenses are
increased by higher wages and cost
of Materials. and by the Introduction 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 naturally be preceded by a desper-
ate effort on the part of the manage
ment to postpone that evil day as long
as possible by stopping every improve
ment and betterment that can be stop
ped. believe the Gommissioners-who
have such great powers-realize their
responsibility to the owners of the pro-
perties as well as to the users, and
hope earnestly that they Will give
practical evidence of their realization
by permitting some advances in rates.
: SHOULD the Federal
sand State-make a positive declaration
that rates may be advanced so as to
permit the properties to meet all eff
their obligations, pay fair return to
stockholders and leave a balance for
improvements, they will do much for
!. the entire country and particularly for
New England. Such a declaration will
at once inspire confidence and give to
than they now have both here and in
I Europe; and will help to market new
securities upon an interest basis more
favorable than is now possible because
of the uneasiness in the minds of in
Syestors about the future net earnings
lof the railroads.
THE report of the Interstate Com
merce Commission about the New Eng
land railroad situation was submitted
by Mr.. Prouty on June 20, 1918 Since
then the directors have been engaged
very busily in discussing the large
question of new management and of
some financing that is imperative. The
important suggestions in that report
will be taken up and considered very
carefully and some conclusion reached
as rapidly as practicable. The very
grave importance of the suggestions
and recommendations and the source
from which they come mean that they
cannot be decided hurriedly and with