The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1914-04-30

~ AWtF Hi'iN " th'N sun NhNt u w
the form OF prom -be,rins property.
Another angle nom which the con-
ditiou of the railroad may De judg
cd b. the ~comparati,c one. ~ rail.
roads today were the poor starved
properties the champ uus 81 the rate
Increases say they are, their sccurl-
ties would show IT, People would bo
selling aud not buying their stock;
the price of stock would indicate the
poverty OF railroad jus ,stmcnL bat
th, reports Of the New York stock
exchange show that railroads nave
held their own-and more than hell
thor ovu-againsi ndustrials. From
Jauuar, o, 1919. Go January i5.tei4.
Industrial stocks touched the follow
inp points SS.b7. 7S25. S3.to. 72.i1.
S3i3. 20 27. SO95 Between the
came dates railroad stocks touched
the following points-tiS 10. i0s %.
.li3s5. lio.50 i0s %, lOIS7 and
100 G5.
The standing OF o. way stocks Ia
the markets Of the United States
SHOW no devastating effect at pres
out rates
Then whence this hue and cry OF
the railroads7 II YOU viii turn TO
the Congressional Record OF April
10. PIP 13st-6. you viii find a trans
cript of The examination Of Mr.. Rae.
president ~ the PENNSYLVANIA rail
road. before the interstate commerce
commission Mr.. Ear was asking for
the privilege OF increasing rates, and
vas being examined us to his reasons
for such O request. Mr. Rae said he
had To have higher rates In order to
make the road pay. Then the exam
Incrs found hat Sos. 900. 900 was
, charged up IN one year for half tho
cost % the Hudson riycv tunnel and
terminal Now that tunnel aud ter
miuJl viii serve the railroad for
many wears, yet the cost Of II was
dumped into the charges of two or
three wears. and because the road did
not nuke "a Z per cent profit on that
enormous sum during the period Il
was being spont-during the period
the tunnel wac being built and VAS
therefore unstable-Mr. Rae wants to
raise the rates. Il was not a legiti-
mate expense for one year Of for
three wears. but Tor so years. yet
! MI Ica says raiiroading is unprofit-
able business when. after $500. OO0,-
600 of the company money had
bccn spent IN improvements. Il was
not an immediately yielded Jack In
profits Mr Rca also admitted that
the pennsylvania railroad has been
practically entirely rebuilt in the past,
ten years. hat Il nevcr has been
so valuable "a property as b Is now
Vet he wants a rhte hat viii make
the public ray for the property In a
short time instead Of spreading IL
over &C. course Of years. during which
this wealth OF property win be used
Wy tho public The Pennsylvania had
10 earn al that money In order to he
able Co spend n. and tho people had
To- spend IN order for the Fennsyl-
,auiu To- hc able 70 EARN Il, yet the
PENNSYLVANIA having received it and
Invested - boz valuable property.
wants Go compel the people 10 pay a
rate which viii allow the company t.
spend vast suu's and still have equal
ly vast sums left
This is the core Of the present
uu.lroad demand Tor increased rates.
The roads are IN a hurry Co be rich
two ways-lu property and In cash
profits They want To eat the cake
and have d. too. They want 10 Ice
permitted 10 DO what no other bust
ness Is permitted To do-mske the
public pay 20 lump sum FOR the new
machine or the new factory. and
Keep ou paying FOR the product Of
the machine and factory as we'll
The people want to he fair with
~, RAILROADS. But the facts show
that the railroads were never worth
Go much as properties. were never So