The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1914-10-19
At the Re -Opering Of Freight
Rate Advance Case before
Federal Commission.
es.ae,11 Io4a1 r.l1asAa,

hat the actual situation has be-
,ome extremely critical. Mr.. Danial
Willard. President of the Baltimore
and Ohio railroad. opened today be-
lore the Interstate Commerce Com
mission the case of the eastern rail-
roads for higher rates.
Mr.. willard is chairman OF the
com mittee of railroad presidents hav-
In In charge The presentation or the
railroad case. His statement sum
narizes the general facts upon the
basis of which the railroads MAINTAIN
that the commission should now al
low the xencraI "a. :cose OF hve bef
cent. In freight rates.
Mr.. Willard called attention to the
decision of the commission In the Tor
mer case, wherein was stated that
the net operating income OF the
railroads in official classification ter
ritory i. is smaller than is demand
ed in the interest of both the gener-
al public and the railroads", and to
the fact that the railroads had al
ready taken action to secure add
tional revenues through various al
yances and changes Of practice, Dut.
added Mr.. Willard, the measures o!
relief proposed by the com mission
will not in our opinion adequately
meet LH0 SAlSlluS tSLSOeSShOAA
Among other things Mr.. Willard
said:
..The annual statements Of all the.
railroads involved in this proceed
ing com bined for the fiscal year end
ing June 80, 1914. show roundly
that the total operating revenues
during the year were approximately
S4S. 100000 less than during the
previous year, while the operating
expenses during the same, period
we're approximately $22,00O,0 600
greater.
The net operating income OF
these companies for the same period
amounted to $26O,0OO,O00, or ap-
5000, 900 less than
ives earned during the previous
year. and equal to but 1898 per cent.
upon the property investment, q low
er return than was shown at any
time in fifteen years.
s.The income, applicable to inter
est. dividends and surplus, curing
the fiscal year Just closed, was $3.50
700, 900. or 4.06 per cent. upon the
total capital obligations. this return
also being lower than any IN fifteen
years"
"a war sucn as that now raging
causes ,sa,,s trv ommercef and A.
snce aHses contraction Of cred
# and great restriction, IL not the
actual stonpape of International
fro e1a nc well az serious disturbnce to
.In,,, ,stic com MERGE and. as we have
saa,, ~ bsssthrown the security mar
kets of the world, first into panic
~ tb.n into s,lspension OF opera
49,.
..rr,,sa have IN fact. been the i'm
direct and clearly apparent
Of the war which began
~, +I,an three m onths ago: but the
,,1t;,,oata and more lasting conse-
are almost as plainly to be
seen and will certainly. follow, If they
q ccomnanv the conditions
,,,oa+ionad
--'e 49,, . aastr,,c+,on
nese are enoi tt Sis,a,.s;on ~ In
Oh WeaiIn, WIZ VIZ, So. =, .nI,,ct;ya am
DOT ana CAPITA ,l " .. III. = chat n,
ploy nlenI' tnus ..1s.as - ,,auy can
.ne Worio ne nc ,.,.e1a-s sd rise
ltai. ana se,! V ~ Thas Sweet Of
ln the .ale u 49,. .4eel ,ofas viii CON
$50. 80 agtsr the nresent emer-
eanc,, bas nassad because they will
6e ref7acted In the basis upon which
! ha new securities will be issued
fro,,, time to time as required, for re-
frndinp and other purposes.
aIa . 20 90 tha var and It's con
IN SO "a % w en hsva net sl,own
.. . .u on 40 smrronnding
" 70 cnans .ns ~ 49,, oan;tsi thay
en e - o,,anra tha fmndamental re-
!eI. 70 snan .aH,aed shinne, for
laton pee s er;. .s :. "na Of the most
$1,000 eIan,an+s IF the cost of
AiupoI SanS go
= aus ~ 49,. ;,.aads ~
IS hno S.ae .nat ssne naa, s5o0-
the the Uniteo S4ses ,IS nhi;,a tions.
Vvv.Voo VI ou t..a ond ,,,,st 6e met
Wnicn VII ma 49,. ,.nu aaatt.' 1one
Wltnln tue neAs :. ~ az .,sinai 'racori
~ was SLOW LIN - tte rai1rnads IN of-
g g ~, =, 80 q :. +ion 1torrf+nrv only had