New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-28
Daniel Willard Sees Cessa-
ton of Development Un-
less Revenues Increase.
JOHN BARRETT ALSO
HEARD AT PITTSBURGH
Pan.American Director DEGREES
Lack of Plans Here to Use
New Waterway.

pittsburgh. March 27.-Danel WIZARD
nresident Of the Baltimore ONO Raii-
road and chairman of the presidents com
m,ttee OF railroads in official classiiica'io''
territory. argued for higher rates at INC
annual dinner of the Traffic club OF F1'Is-
bursh. tonight. and John Barrett director
general Of the Pan-American Oiilon'
sounded a note Of warning in connecuo"
NTH the Panama Canal. Present at the
dinner were many important railroad eN-
ecutives from New York. chicago an"
other transportation centres.
"I, has come about that under eXlstihs
,o,,a,,iors rates now in effect in official
classification territory do not yleld SUI
so,a,, ravenues TO meet the situation
said Mr.. Willard. 1T has been shown 10
the Interstate Commerce Commission ti'a'
th,,ty-five roads in official classlhcatioh
,orritory have added more than soo9'VVV'-
600 TO their property investment sliio0
1o1o for additional facilities and equip
mont hut as a result of operations III
1913. although the gross earnings were
sIss.775,OO0 greater than in l'lo' the net
earnings. after paying operating eNpehSe'
and taxes. were s16,311.OO0 less than IN
1910 showing that not only had theSe
coynnanies failed TO earn any return on the
reulv invested capital. but they had Slo'-
al 600 less net as returns upon previous
investments. It is unnecessary 10 say 'iia'
no business enterprise can continue vi
such basis
"1, has been stated that the growing
need OF the country's commerce VIII re-
oulre an additional expenditure by the
railroads for equipment and facillues OIL
UPWARDS OF a billion dollars year Ior
soma wears. The only way in which such
,ponev can be obtained is through prl-
vate enterprise, and railroad INVESTMENT
must be made sufficiently attractive 10
sacure new capital, else development VIII
cease. and nothing can more enectuai-
w check the growth Of commerce Una"
insufficient transportation facilties.
"T do not think the necessity for IN
ERASED revenues on the part of the car
r,ers IN official classification territory Is
ssr,ou.ly questioned by any one at this
time
Discussing The Panama Canal and
Pan-American Commerce" Mr.. Barrett
said among other things:
The issue of the canal tolls whlch
il now engaging Washington ana the
country is absolutely unimportant ana
secondary as far as actual trade conol-
lions are concerned, when compared 10
the importance OF practical steps 10 use
the canal for the upbuildng OF the eN-
mort and import traffic of the united
States. While cannot in any way, on &C
count of my official POSITION as an IN
ternauonal officer. discuss the pros and
cons OF the tolls question, l can tell you
there is not a great port or exporting
or importing centre OF Europe, Japan
Australia and of northern and western
South America that is not doing more
TO get ready for the Panama Canal than
our corresponding ports and centres OF
the United States. with the possible ex-
ception OF New Orleans and San Fran
cisco
The Investigations 1 have carried on,
both officially and personally. convince
me that unless the traffic interests Of the
United States wake up and make extra
ordinary efforts the canal will prove a
far greater advantage during the earlier
years Of It's use TO foreign lands than 1t
will to the United States"