Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-12-19
Railroad Officials Generally
Express Satisfaction at In
crease Granted byI. c. c.
WILL RELIEVE DISTRESS
BY MAKING UP DEFICIT
Western Roads Should Feel En-
couraged in Pending Applications,
Says President of Rock Island.

NEW YORK, December 1s.-That
railroads would be substantially a1deo
by the Increased freight rates granted
yesterday by the interstate commerce
commission was the opinion generally
expressed by railroad officials in state
ments made public here today
President L. F. Loree of the Della
ware and Hudson railroad stated that
the rate increase will relieve the dis
tress of the railroads by making up
deficit in their earnings. He did not
believe, however, that it will give rail-
roads any additional purchasing power.
President A. H. Smith Of the New
York Central lines and Howard Elliott.
president of the New York. New Haven
and Hartford railroad, expressed the
opinion that the commission in grant
ing the rate increase had recognized
the needs of the railroads and the ne
cessity of increasing freight rates.
Needs of Roads Recognized.
He said:
LAS nearly as I can ascertain from
preliminary reports. the interstate
commerce commission has granted an
increase on, perhaps, a little more than
one-half of the tonnage, but to the ex-
tent that the increase has been grant
ed it will help the railroad situation.
1t should also promote general public
confidence for the future.
The commission has recognized not
only the needs of the railroads, but
the effect upon the railroads of the
peculiar conditions generally at the
present time. The increase granted will
not solve the transportation problems
the help given and will endeavor to
make the best possible use of it,
In its broad scope the increases
show. in my opinion" said George F.
solicitor Of the Erie railroad. that the
interstate commerce commission had
realized that the relief which the COM
mission previously had thought could
Increased freight traffic had been made
impossible by the results of the war
and existing conditions"
Benefit Seen in Decision.
Several bankers, brokers and men
whose. interests are allied with the
railroads also saw in the decision a
Sentimental benefit and a factor in
maintaining the care of investors and
business men. Among others who
made statements was Alexander ].
Hernphill. president of the Guaranty
Trust Company. He said:
From my point of view the most
favorable feature of the commissions
decision is that the people at Wash
ington are displaying a disposition to
help the railroads. I don't believe,
however, that the industrial companies
win reap any benefit from it,
W. C. Van Antwerp. a governor of
the New York Stock Exchange, said:
The decision is highly encouraging
and will no doubt be approved by the
higher court of public opinion"
Should Encourage Western Roads.
CHICAGO, December 19.-H. u
Nudge, president of the Rock Island
lines. said the decision should encour-
age western roads, in view of their
pending applications for increased
rates.
Certainly the west needs increases
as much as the east" he said. This
particular decision ought to liven
things up. If the eastern roads begin
to buy-and ] think they will-the en-
tire country will be favorably affect
ed
William a. Gardner. president of the
Chicago and Northwestern Railway
Company, said:
The only bearing the ruling will
have toward granting increases to
western roads is whether the latter
can present equal justification and ne
cesSits. l believe they can. 1t is a
reasonable presumpti"- that the deci-
sion will be an essential factor in the
stimulation of and add a tremendous
encouragement to all lines of business
The first effects will be felt in the east
and a similar stimulus to western lines
will aid the return to general pros
perity.