Evening journal., 1918-11-26

the direction OF that commission u con-
tinued by the Congress as the regulst-
Ing body.
"3-provide fer the retention OF such
methods OF administration as may have
been found to be effective during Fed
eral control, such as Joint use OF I'm
portant terminals: but increase rather
than diminish the advantages TO be
secured from individual Initiative. To
concentrate to the extent OF its destruc-
tion and TO limit reasonable competi-
tion essential 10 constant and continu-
ing improvement OF service, will re-
tard business, Industrial and agricul-
tural growth essential during recon-
struction and thereafter. II Is not difil-
cult TO limit the extent 10 which this
shah go.
4.-Provide for taking care OF the
obligations to the government of each
railroad Incurred or to be incurred dur
ing the continuance OF Federal control.
The railroads cannot be returned with
their credit impaired; II II Is, IL VIII
be costly 10 the shipper and TO the pub
lie. The higher their credit the
cheaper can money be secured by them
for purposes Of hauling freight and
passengers. The contract made by Dl-
rector-General Burleson with the tele-
phone company provides that its obli-
cations 10 The government shall be paid
In twenty years, in yearly installments
Loans made by the government to the
railroads are made on call
I'm reply TO the question whether the
association has matured its plans and
what will now be done, Il may be stated
that plans have been discussed but not
rnatured. Such plans as may be worked
out will be submitted to the commit
tees OF the association. This ossocla-
tion through It's membership, directly
and indirectly. by Institutional and in
dlvidusl membership, represents 1--WE
billion OF the outstanding seventeen
billion dollars OF securities Of the rail-
roads. IL represents through such
membership, thirty million people OF the
country OF the flfty million. nearly one
half OF the total population, who own
or are interested In railroad securities.
Its management Is vested In an advis-
ory committee Of $50 members from 67
cities and 36 States. one executive com
mlttee OF 80 members, an active sub
committee OF nine members. financial
committee OF seventy from 81 cities and
30 States. a general committee OF fifteen
representing 10 States. many OF this
latter committee being shippers.
There are i've vice-presldents, one
from each OF the following cities. San
Francisco, Chicago. Galveston, Texas /.
Atlanta, Ca, and Newark, N. J. Any
plan that may be developed VIII be iln-
ally acted upon by the aforementioned
committees, originating with the sub
executive committee, In consultation
with the advisory counsel OF the asso-
ciation, who VIII play an important part
In these proceedings and other coun-
sells. What will be done viii be also
In consultation with accredited repre-
sentatlves OF the'shippers, such as the
committee OF nine recently named at
the convention held in Cincinnati, Of
the National Industrial Traffic League,
which represents trade bodies and in
dvidual and associations OF shippers TO
the extent OF upwards OF 100000. IL
should be recognized that the return OF
the railroads calls for important legls-
lative action by Congress, TO provide
for their proper and safe return under