Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-06-30

/ orn roads followed, and out of these
and other conferences grew the formal
proceedings looking to general ad !
vance. :.
ALL GROUPS DECIDE
ON Is PER CENT ADVANCE
The percentage of the advance had
not been determined upon at the first
conference. Finally all three groups
decided that Is per cent advance
was needed to enable them to meet
new conditions. This. 1t was vari-
ously estimated. would yield from
s30o.o0o.o0O to $40o.oo0,o0O annual
revenue.
Meanwhile. tho shipping interests Of
tho country met at Chicago and made
plans to fight the increase. When the
hearings opened here in May. before
the Interstate Commerce Commission,
the National Shippers Conference was
represented by a number Of attorneys.
chief among them Clifford Thorne, of
Iowa. an expert on rates and trans
portation.
Tho attitude OF the shippers was to
some extent divided. Some thought.
and so testified to the commission
that the railroads should have the in
crease. while others favored some in
crease. and others commended that IL
tho railroads were entitled to any rate
advance at all. IL was much less than
the Is per cent they asked. The rail-
roads commended that. instead OF being
Is per cent advance. what they were
asking would really net them a much
smaller return. The portion OF shin.
pers which opposed the increase most
vigorously was headed by MIR Thorne
Early IN the hearing the shippers
made united attacks on the rcal,rn
ment OF preferential rates that would
result from horizontal advance. The
railroads met this protest with as.
snra noes that the present rate differ
ences would be restored as soon as
possible.
Shippers declared thousands OF car
loads OF lumber and other commodities
had been held up by the roads bv
shortage OF rolling stock They in
sisted they would he unable TO shin
great number OF orders before July
!. which they had contracted TO sell
at n price based on freight rates pre-
vailinS in January and February The
carriers OF the South offered as a com :
promise to lumber dealers Of tina. sec
ton a fat raise OF ! cent per 100
pounds for freight from the Missis-
sippi Valley and Southeastern points
TO the Ohio River
INTRODUCE MASSES
OF STATISTICAL DATA
The railroads introduced masses OF
statistical data. showing in detail the
Immense increases In operating ex-
penses. They contendcd that revenues
would not increase in proportion to the
added costs OF transportation. and that
in the new era OF industrial prosperity
tn" shippers could we'll afford to paw
higher freight rates Railroad credit,
they declared. in some Of the less stable
systems. might suffer unless the in
crease were granted An organization
of bankers and heads Of insurance com
panies. urged tho commission TO grant
an increase in order TO stabilize secur-
tiles
The Shippers Conference contendcd
that the early months OF 1917 showed
A constant increase in operating reve
nues for the carriers. and insisted that
they would receive reasonable earn
! !nEs. despite their heavy expenses.
They also told the commission that
railway securities were stronger than
I any other class. except government and
municipal bonds raised by taxation.
The railroads. they sought to show.
have large SURPRISES on hand In cash
time deposits and interests in unarel
. lated companies. which. they declared.
should be used for such an emergency
the carriers represented