Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1914-12-19
In C REASE IN FREIGHT
RATES IS WELCOMED HERE
Immediate Stimulation In Every Line
OF Business Now Is
Predicted.
RICHMOND WILL BENEFIT
Financial Experts Predict Greater
Confidence in Railroad Investments
VIII Result From Decision OF In
terstate Commerce Commission.

News that the Interstate Commerce
Commission has finally granted the APP
plication Of Eastern railroads for an
increase in freight rates Is tho signal
for expressions of deepest qualification
In Richmond, and for predictions by
men prominent in local commercial and
hnancial' circles OF an immediate slim
ulatton i'm business confidence. 1t is
wheE the Eastern railroads are allowed
Hat Increase of per cent in freight
rates. except upon coal, coke. iron ore
aud lake and rail- Joint shipments. az
provided in the decision of the COM
mission yesterday. an immediate quick
ching In practically every line Of bust
ness must result.
Those familiar with local traffic con-
dltions believe that the authorized in
crease places upon Richmond a much
lighter burden than that which must
be borne by many other Eastern cities.
IT Is also thought that n good part
of the receipts accruing from the in
crease In freight rates will be applied
by the carriers to the purchase of new
equipment.
LOCOMOTIVES WORKS MAY
REAP SUBSTANTIAL. BENEFITS
The Richmond branch of the Amer
lean Locomotive Company may reap
substantial benefits from the decision,
for since no Increase In freight rates
on Iron and coal has been granted. IL
is pointed out that this concern Will
be enabled TO turn out locomotives at
comparatively low figure.
While large benefits from the dcci-
sion VIII naturally accrue to practi-
cally every. rail line entering Rich
mnnd. and in Virginia. the increase in
freight receipts on railroads carrying
great quantities of coal will not he
IS large as on some other lines. In
the class will fall the Chesapeake and
Nirginian The Southern on many
classes OF shipments Will benefit from
the increase. as will the Atlantic Coast
Line and the Richmond. fredericksburg
and Potomac.
Local railroad officials when asked
Yesterday for an opinion on the de-
'cision, were somewhat reticent regard
ing It's Immediate effect on conditions
here. but they We're unanimous in their
expressions Of pleasure that the com
mission has granted the increase. They
were also united in the opinion that
the inauguration Of the new rates viii
ter times for shippers and carriers.
MEANS INCREASED CoNFIDENCE
IN RAILROAD SECURITIES
1T means that confidence in railroad
Investments viii be strengthened"
event every one Will share In the ben
cits which must certainly result from
the now rates"
"Richrnord Is railroad supply
centre said w. T Dabney, business
manager of the Chamber of Commerce.
Yesterday, and the advance in rates
is certainly going to help local indus
tries. II viii improve the credit Of
the roads. and they are going to ego
ahead and place orders, for, Supplies of
mond branch OF the American Locomo-
tive Works the Trcdegnr Company. the
Old Dominion Iron and Nail Works, the
Johnson Iron Works, Smith Courtney
Company. the Southern supply Com
pany. contractors and everybody. It
ply splendid, and Richmond is going
TO reap It's benefits 20 the fullest cx-
tent"
RELIEVES CRITICAL SITUATION.
SAYS GOVERNOR SEAY
Governor George j. Scay. OF the Fed
eral Reserve Bank, expressed tho opin-
ion that the decision is one of the best,
, ~ as,, that could possibly happen 10
its material effect will he immediate.
it will in q sentimental way he felt at
once. 1t gives the railroads an oppor-
tunity TO feel their credit. which has
been impaired. and relieves what has
been admittedly a serious or critical
situation"
Richmond Bank and Trust Company,
predicted that the inauguration OF the
new rates viii mean IAN immediate res
ioration of business confidence. and
give the carriers chance To place or
dcrs for new equipment. which, he said,
VIII mean more work for every one
The effect upon American securities
VIII be immediate. and IL Will restore
confidence to the business world as
nothing else can do" said oliver j.
sands. president OF the American Ma
tional Bank. Other Richmond bankers
and business men greeted the news Of
the commissions decision with express.
Sions of kecncst pleasure.
TRAFFIC. MANAGER GOODMAN
EXPECTS GREAT BENEFITS
w. T. Goodman. traffic manager of
the Richmond Chamber OF Commerce.
yesterday afternoon stated that he had
not yet had time to review all of the
far-reachinr effects of the decision but
he expressed the hope that immediate
benefits will results when the new rates
are put In operation.
Those we'll vcrsed In rate classInca-
tn WY