Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-12-31

I the rehabilitation Of towns. cities, rail-
roads and nations will call for enor-
nous activities Of all productive ca
pacity on this side Of the Atlantic. Cop
per. steel. rubber and other materials
will be wanted by the shipload. Ships.
| too.
The domestic needs will be large and
| even the munition factories will be
| supplied with orders in the carrying
out Of the preparedness plans of the
United States.
The year 1915 has left millions of
profits that will not soon be exhausted
brought practically $2.000.0O0.000 of
! returns of 1915 in foreign trade and in
, returned securities. coupled with loans
to the allies and municipalities.
Corporations have been placed on a
sound basis. debts have been paid off;
even Wall street is near a peace basis
and the actual closure of the war
would have no serious results to cap
ital or labor.
Gold imported for the year up to
last night totaled $3.50, SOC, 900 from all
sources.
Southern Railway Earnings.
Gross earnings of the Southern Rail-
0S6,497, an increase of s965.S68 over
the earnings of November, 1915. Net.
after operating expenses and taxes,
s2,362,421 showed an increase Of $685.,
173 in the same comparison.
For five months of the fiscal year
ended with November the gross earn
ings were s32.S40.657, an increase Of
S4,153,S69 over the gross for the same
months in 1915. The net earnings in
the same comparison increased $1,522,-
$50.
The Years Statistics.
Il. G. Dun & Co. gives the bank clear
ings of the country as SS0,000,000. 900
larger in 1915 than in 1915, the 1915 total
being 900, figures that seem
almost unbelievable but are. neverthe-
less, facts.
The value of farm products of 1916
totals s7,642.000.000. as compared with
s5.ss2 100000 in 1915; merchandise ex-
ports for eleven months are greater
by $1.750, 100000; commercial defaults
are sos, 900. 900 less than in 1915; stock
sales. 100000 shares larger; pig iron
output, 100000 tons greater. and I'M
filled steel tonnage. 1000, 900 tons greater
Consolidating Western Maryland.
January 10 the public service COM
mission Of Maryland will act on re-
quest for the consolidation of the
Western Maryland lines. including the
Baltimore and Harrisburg Company. both
eastern and western extensions, Balti-
more and Cumberland Valley, Georges
Creek and Cumberland and the con-
nellsville and State Lines, the title to
go to the Western Maryland Company.
The stock issues involved are $751;
6rut
tive stock; $10, 1000. 900 second preferred
and $50.000.000 common stock.
On the Railroad Situation.
J. S. Bache & Co. has this to say
of the railroad outlook and need for
drastic remedy. under the caption.
Congress Must Force a Remedy:
1.-The investor takes the net earnings
from 1906 through 1916 and finds that the
roads have not achieved such a reasonable
net result as to allow them to improve
and extend their facilities, to keep equip
ment adequate, and to assure investors
Of a steady income in lean years as well
as fat ones. The picture Of one-sixth Of
the mileage of the country sunk in an
ocean of bankruptcy three years ago will
stay in the minds Of investors until 1t is
wiped out by some radical reform in the
methods of regulation by starvation. which
has prevailed for the last ten years under
the interstate commerce commission,
aided and abetted. as far as destruction is
concerned, by forty eight state commits
sions, with forty-eight communities back
of them hungry for tax money.
1.-THE plight Of the railroads has been
brought about by the government. The
remedy must consequently be govern
mental Congress must adopt a policy of
protection to the railroad investor and de-
clare that policy-namely, to permit such
rate regulation as will yield the roads
revenue enough to do their work ade-
uuately and to have earnings left over
enough to assure investors. Regulation
of interstate commerce rates, and also
wages, should be wholly in the hands Of
the interstate commerce commission. and
that commission should be recognized and
enabled to perform the vast labors which
are thrown upon it. by means Of a series
Of regional subcommissions."