The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-09-16
RAILROADS SEEK Rate
REHEARIAG BEFORE |. C. C..
Increase Recently Denied
Is Asked.
SERIOUS EMERGENCY FACED
Caused by Diminishing Revenues Ag-
gravatcd by War in Eurnpe-In
Next Fifteen Months obligations
Will Exceed $500 900, 900.

WASEii%GToN, September lj.--Re
hearing OF the Eastern advance freight
rate case ana permission TO impose the
. per cent increase recently denied
them was sought to-day bv the Eastern
railroads in a petition iicd with The
Interstate Commerce Commission
IN" roads contended they faced AN
extremely serious" emergency result
ing from diminishing revenues -ald AZ
gritHated by war III Europe. Adequate
additional income, the petition declared
could not be derived from the increases
granted in Central Association ter
ritorE, and from puttins into effect
some OF the commissions suggestions
as 10 charges for certain free services
and Improvement in personnel and
equipment
The petition. signed by Daniel Will
lard, chairman OF the executive COM
mittcc. and several counsels for the
roads, was in part as follows
Your petitioners, f12 railroad com
pan'es, comprising the thirty five rail
way systems In official classification
territory, respectfully petition the com
mission for such n modification OF the
order of July %, 1914. as will permit
the carriers ia make effective the rates,
specified in the tariffs which were bv
said order directed to be cancelled.
Since the hling OF the report and entry-
of the order by the commission in these.
eases. facts and circumstances have
arisen Which. taken in connection will.
the facts already before your commits
sion your petitioners believe will justi-
~ the relief herein prayed for. These
facts and circumstances arc briefly as
follows:
The reports Of your petitioners for
tho year ending June 80 1919. show "A
decrease in total operating revenues
of approximately $il. 00, 900 while
during that same period operating eX =
pcnscS have increased about $23 goo OOG
After deductions OF taxes and deficit
in outside operations. there was "A de-
crease in operating income Of approx :
imatcly -s7S1 100000. Notwithstanding
an increased proportion in Investment.
Thus. such figures as are available for
AUGUST 1hl+, show Il continuance of
this declining tendency. notwithstaid-
ing the extraordinary efforts to reduce
expenses
SECOND, the unforesecn European
was has brought about An Unparalleled
destruction OF wealth and disloca ton
Of credit throughout the world. 1t is
certain competition for capital will bc
kecncr and interest rates higher. The
emergency thus resulting is extremely
serious.
''it is conscryativcly estimated that
wv '"i'i' ''i' companies VI llt lHlltU
states have obligations maturing i'm the
next fifteen months amounting to well
over S500.0C0,00o and II is imperative
in She public interest that these obli-
cations shall Be duly met In order
10 compete effectively for this new
capital. they must have Il material in
crease in revenues
Third, your petitioners are proceed
ing as rapidly as possible to put into
effect the increase III freight rates in
Central Freight Association territory
authorized by the report of the com
mission, and are giving earnest atten-
tion 10 the other rcco;nmenda tons and
suggestion az the commission with re-
spcct to other rates and practices.
ct is believed, however. that the ad-
ditional revenue which may be secured
10y the adoption of means other than
a general advance in freight rates can
|, Continued on Third rose)