Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1914-06-25
OVERHEAD CHARGES LOWERED
Trains Can Be Handled More
Intelligently and Clerical
Force Reduced-UnifOrm
Law AS to Securities.


cival w. Clement and Willard b. Howe,
Vermont representatives. to the New Eng
land railroad conference, In their report
TO Governor Fletcher, which was made
public tonight
Consolidation, the report declares, has
been tho policy in New England railroad
affairs and has been for the benefit Of
The public because rates are fixed by law
and because consolidation makes possible
economy in management.
The belief also is expressed that higher
rates are necessary.
Mr.. Howe and Mr.. Clement conclude
with the statement that New England
does not want state or federal owner
ship of railroads.
The conference was made up as fol-
lows:
Maine-Frankln w. Cram Of Bangor,
Charles II. Osgood of Lewiston
New ampshire-Fernando w Hart
ford of Portsmouth, Fred NJ. Colby of
Warner
Nermont-Pcrcival w. Clement Of Rut-
land tchairmam Willard B. Howe of
Burlington.
Rhode Island--William C. Bliss Of
Providence, Marsden j. Perry of Provi-
dence.
Connecticut-Gcorge NJ. Woodruff of
Litchfeld, Costello Lippitt of Norwich
Massa chusetts-Francs r Bowles Of
Boston. Admiral Francis 7. Bowles re-
signed and Massachusetts is now with
out representation in the conference.
The report follows:
The railroads of New England at the
time Of the appointment of the confer
ence were practically operated as one
system. made up of the New York. New
Haven and Hartford, the Boston and
Maine and the Maine Central, the oper-
atoms being mostly in New England.
OF the trackage of these railroads sub
stantially So per cent. Is in New Eng
and. 10 per cent. in New York and two
per cent. outside of New England and
New York
OF the stock Of the New Haven rail-
road IS per cent is owned in New Eng
land; of the stock of the Boston and
Maine, ~ per cent. Is owned in New
England; these proportions representing
the ownership as of July /, 1918 The
stockholdlngs are comparatively small. 43
per cent of the New Haven stock. and
20 per cent. of the Boston and Maine
Ieing distributed among shareholders
wning from one to ten shares each, 81
Yer cent of the New Haven and 81 per
lent of the Boston and Maine being dis
ributed among shareholders owning from
! to 80 shares each; so that so per cent.
# the New Haven stock, and 81 per
cent Of the Boston and Maine stock is
ield in lots in no case exceeding $500
value.
an New England. four in New York and
two in Philadelphia.
The total number of the security holders
in 1913 was estimated as 10000
On the payroll preceding September,
1913, there We're 92,792 employees
The traffic for the year 1913 may be
expressed as the transportation of 80 900
individual passengers. and 5000 tons of
freight every hour, the total mileage of
the locomotives and freight cars amount
Ing to 10000 miles per day, or more
than 10000 miles every hour.
BUSINESS WAS BAD.
When the conference began it's investi-
cations the condition of the business of
the New England railroads was bad
From 1910 to 1918 the gross operating
revenues Of the Boston and Maine rail-
road had increased S., 1892, while It's
net corporate income had decreased from
s3,S5062l to s49,696 or 9S $40 per cent.
There had been great increase in the
rate of wages under the pressure of the
labor unions, amounting in 1913 to about
100000 over what was paid for the same
amount of labor in 1910
The cost of hiring freight cars had in
creased in 1913 about half million dol
lars a year.
The cost at terminals and junction
points had increased.
There was also a large increase in in
terest charges, as would naturally fol-
low.
In addition to this condition of depres-
sion the railroads were not permitted to
raise the price of transportation, the only
thing they have to sell although paying
higher prices for everything they had to
buy The limit is perhaps not yet
reached
DIN the report of the result of its in
Vestgation of the condition of the Bos-
ton and Maine railroad made in the win
ter OF l9l2-l3 committee of the Bos-
ton Chamber Of Commerce saws "Nor
do we mean that the securities of the
Boston and Maine do not to-day repre-
sent great value, The territory served
is one of the best in the country. and II
seems to US that, II the property in the
future has the benefit of a prudent flnan-
cial policy, skillful management and a
oonsiderate attitude on the part of the
public. much ought to be accomplished
within reasonable time in the way Of
rehabiitating the system, and restoring
the value Of Its securities"
And in speaking of the duty of the
New Haven company upon its assump-
ton of the management OF the Boston
and Maine to provide those facilities for
which there was the most pressing de-
mand' the committee further says, eve
believe that more substantial progress
Will be secured by patience and cooper
alton than by hasty and il-considered
action, based upon the facts now avail
able"
CONSOLIDATION THE POLICY.
Consolidation of its railroads has been
New Engand's policy. Year by year the
, Legislatures OF the New England states
have given their sanction to bills APPROX