New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-19
||PrVEW OF THE
Week in FINANCE
o.il,oads Again Asking
Higher Freight Rates,
W 9TH New Reasons.
,NaNCING MADE
DIFFICULT BY WAR
-. tor Cotton Fund Modified
P''D psrk Deficit Reduced to
less than 100000.

r..,orn railroads this week be-
~ nresentation Of their renewed
tar higher freight rates TO the
SO. ... y. Commerce Commission. They
'''', Jaw. besides estimates and figures
ll ,,' assi before, detailed reports Of
FF''. ... Cor the fiscal year ended last
Ss,eh show net revenue lower IN
'' p. :, investment Of additional funds
~. ~ sources Of revenue pointed out
Y. ~ ~ commission when the former ap'
- was denied have generally
fl'taI,'hS. Higher passenger rates
TFs'e9i IN v held up by state commits
hs's " have increased charges TO IN
ssn', lives Spotting and switching
tSsi-lSs ar services formerly rendered
isil . s,ye been twice postponed oy tne
~ ils,s.- II body itself, the second suspeui,,
'ses'~ atssred last week, belng, uhVl
ssa' MI Railroad credit, already
t's. ~ nv the narrowing margin be"
i-pa.' .s,sipts and expenditures. Is now
'ssea $40. ..Til need Of assistance because
(, ls' 'SSSvand on investment funds
Il.sas . s.S Of the railroads was forci-
lM sssrted BY the reorganization
" IY;, ,s Of the Wabash Railroad, IN
leaving is plan for taking thst
vl... VIZ. AMI of receivership. Ate:
~ nat no gain in volume OF
ss-s could make the road pay
~. ,,sssncer rates averaged less
" .5st and freight charges were
- sbsde better. the committee
~ out that all the transportation
The country faced the same
...g,w The roads whose finances
-. b,tter arranged than those OF the
$500 With its great annual interest,"
-, m funded debt, can, IL is true,
sns,, longer. but higher cost Of labor
=. ~, ,,.srisls and fixed or lowered
-. -. .srfront them all. A change Is
~. 70 prevent suffering by the
/ 49, 49,; served 81 the roads, by the great
.'-iseations Of business that depend
!. syoplying their needs and by the
,,,.tors in their securities.
Test for Federal Regulation.
pubEe regulation Of private owner
81, ( on trial. The commission, in
I, i,,isjon handed down the day after
3, var in Europe closed the Stock EN-
,,,,,, failed to appreciate the nature
Il NJ problem presented 10 it. Ad-
.itti1s the need for higher revenues.
! a, federal body was not able TO rise
| . h, opportunity and give what II
/ nav vas needed Instead II granted
l , psrtisl advance in restricted terri
,oT7 and then pointed out methods by
vtii additional revenue might be OBJ
anN here and there, which have
pro7sd Of no immediate service.
1 In rsgslation of public service cor
yorsn,1, BIZ the states II has been
r,sori,ed that il is possible to i'm
pe,s hssvy taxes for the benefit OF the
Z Fhols Community or TO require cheap
ud eHeeui operation. Great insist
M,s on one must mean lessened re-
csirnsnt Of he other. In the case
| d he railroads they are taxed by the
ssia they traverse, and then have
hsl riies and the quality of their
ss7ts governed by federal authorities
Hvsl. So, while the Interstate Com
nfrs Commission has been taking
ilon them power TO increase their
ailirgs, the states have been impos-
e taxes that take larger and larger
! rsPtriions Of their receipts. A sum-
Nify prepared some months ago
MOVED that annual imposts were any
! ,ssls from 9 10 % per cent year OF
as net revenues before taxes.
A. present we are faced with the
reliability that European nations who
ave iormerly purchased our securities
y readily will have such heavy war
.'st; 70 finance that they can spare
III, for this country. Besides, Of
W bonds and stocks they now hold,
niiniisd al from S400, 100000 up, one
l'uria or more may, it is feared, be
Niensd to US as soon as the Stock
L,tsnge furnishes an open market.
vitality important that "Ameri-