New Britain herald., 1917-04-25

should realize that they are the own CTS of the property and ought to come to its rescue by furnishing some new capital and not rely indefinitely upon banks and bankers for temporary loans which create a very uncertain and dangerous situation.
 70. To dispose of the so-called "outside properties" (which must be sold under the federal decree) at a minimum loss, and, use that money for Improvements or paying debts.
 ''s. To obtain rates-freight. pas senger, mail and express-that will enable the company to meet the stead ily increasing wages and tue increas- ing prices of materials, and the seri- ous conditions imposed by the war.
 A. To perfect every detail of management so as to save the maxi anum amount of money.
 '"5. To spend from earnings or from new capital enough money in the next five years to modernize the plant and make 1t adequate to the needs of New England-to provide better working conditions resulting in substantial economies. in the hope of paying a return to the shareholders.
 
 and it's success now depends very largely upon the willingness of the stockholders to help pay its debts and of the public to pay rates sufficient to meet the rising expenses and have enough left with which to make im- provements and, to improve the credit of the company; also. upon the con- ditions that will result from the en- trance of the United States into the World War. The burdens on this country because of this war are not yet realized to the extent that they should be. Everyone will have to help-there must be self-denial-- much inconvenience and probably some suffering. The transportation systems of the country will without doubt have to give less service along some lines so as to conserve fuel. equipment and men for war purposes, and doubtless travellers and shippers will be willing to accept the situation.
 Conditions Improved Today. ''The property is in better condition today than for several years past, and a comprehensive plan of improve ments has been made and much of the work is going on. $18,25S,OOO has  and Improvements and the protection of subordinate properties since June 30, 1914. The operating results of the New Haven and Central New Eng land roads. which are managed as one property, compare for the years end- ling December 31, 1913 and 1916 as
 1913 1916 Oneratinr
 revenue .. $72.s5e,5s5 $s5,s4o.se5 Operating
 income .. 1s.715.o5e 25.125.26 Ratio of oper-
 ating expenses
 to operating
 income .... 71.78 P. c. 6692P. c.
 Tn 1916 a greater volume of busi- ness could have been handled if the facilities of the company had been better in the matter of tracks, ter minals and powerful locomotives, and if the facilities of the receivers of freight had been such that loading and unloading of cars could have been made without delay.
 "The results for the three months ending March 31, 1917. show an in crease in gross revenues of $1,625,O0O and in net of about $1,OOO,OOO. Gross 1 revenues for April are showing good increases. Increases in net cannot 1 be continued unless substantial in- creases in rates are, permitted, be- cause the company is beginning to feel l the effect of the increased wages and 1 prices of material, which effect will be cumulative and amount to large l sums.
 l Public opinion is much more { favorable to the company than four years ago. and the relations of the 1 company to the state and federal