The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1918-07-20
OWNERS PROTEST!
Government Contracts Submit
ted to Railroads Unsatisfactory.
Security Holders Demand That
Amendments Be Adopted.

Resolutions protesting against the
contract Submitted by the government
for the signatures of the railroads and
other resolutions to the effect that the
amendments desired by the railroads
be. insisted upon, were adopted at the
special meeting of the National AS
ISOLATION of Owners of Railroad
Securities just held at New York. &C
cording to advices received from there
this morning.
The execution of such contract as
that proposed in the tentative draft
submitted by federal representatives
July would not only threaten the in
tegrity of the investments of security
owners but the credit stability of the
country in general, the owners be-
heve.
Forty-four members of the commit
tee were present. but owing to the
short notice on which the meeting
was called it was not possible for the
eleven members residing west of the
Rocky mountains to reach New YORK
in time. The amendments to the
tentat tive draft of contract of July .
were submitted and discussed in de-
tail, after which the following resolu-
tions were adopted:
The Resolutions.
Resolved. that the action Of the sub
mittee of this association represented by
the delegation at the meeting of the rail-
way executives advisory committee held az
the Grand Central terminal On July u,
as presented in the resolution then passed
by them. is hereby approved and confirmed
and that this committee regards the con
tract In its present form as unacceptable D
the respects set forth in the letter from
the president of the association to I. De-
witt Cuyler. chairman of the railway execu-
tivcs committee. dated July II.
"Resolved. that in the Judgment or the
financial committee of the association, the
amendments to the contract embodied IN
the document this day considered by TINS
committee should be insisted upon ana
the two committees which have been con-
Quoting the negotiations with the represen-
tatives of the government are hereby re-
Uuested to take up further negotiations on
these lines with the representatives of the
director general and in such other d1rec-
tious as the committee may see fit.
'iesolved, that in the Judgment OF this
committee the execution by the railways
of contract in the form now proposed IN
the tentative draft submitted by the gov
ernnent would not orgy threaten the IN,
tegrity of the investment OF the railroad
security owners but also the credit stanl-
fty OF the country and that such actloE
should be prevented.
nittce of the whole, request, ana Will II
possible secure. a hearing before the
United States railroad administrations IN
such directions may be deemed feasible
for the purpose of presenting to the au-
thorities the dangers to the financial
credits of the railroads of the country IN
volved in the execution of the contract In
''feeoIved. that copy of these resolu
lions be sent to the directors and execu-
tives Of the various railroads over tne
names of the committee.
Authorization was given to make the
nee essary arrangements and 1mmeoi-
ately carry out the object of the reso-
lutions.