El Paso herald. (El Paso, Tex.) 1901-1931, 1918-02-16

and it has 10000 officers and clerks.
with thousands of draughtsmen. sur
veyors and other skilled workmen.
Each Of these has to be managed.
Each has his own salary or wages
and his pay envelope must be filled
every week. The total payroll is
over 81, 1000, 600 per annum and this
Uncle sam must now pay.
Assumes Financial Obligations.
In addition to the operation OF the rail-
ways, the government has assumed their
financial obligations It has taken them
over in trust and has agreed to see that
the property yields as fair return as IL
has done during the three years preced-
ing This is another big part OF Uncle
Sans job and it reaches the pOcketbooSs
OF every city and town OF the union The
capital OF our railways in stocks and
bonds is just about $4,000. 100000 II is
nation. and it is held by more individuals
than there are people in Boston Accord
ing TO the National Association Of Rail-
way Securities the number Of men and
women who hold railway stocks and
bonds are more than 100000. and they
own a little more than one-haif Of the
property The balance Is held largely by
the life and fire insurance companies. and
By savings banks. colleges. charities and
trust companies. All Of these have MIL
lions Of policy holders depositors and de-
pendents Of one kind OF another. so that
the total indirect ownership affects al
most half Of our whole population.
Moreover. the individual STOCKHOLDERS
are scattered all over the country and but
little Of the stock Is held in large blocks
The Aichison has 45.O 600 stockholders. the
Southern Pacific. 80. 600. OF all the peo-
pie who own railroad stocks only one IN
10000 has as much as 1000 shares. and
In the New York, New Haven and Hart
ford railway one-half OF the holdings are
in blocks Of from one 20 ten shares. The
Pennsyivania Railroad company has "a
900 stockholders. and OF these $1,000 or
almost oue-halL are women Howard Il
lot. president OF the New Haven, es-
Inmates that AZ least 20. 900 600 people.
including the owners and the employees
railways OF the United States for their
daily bread and butter
Has Difficult Problem.
Can Uncle sam pay the owners their
interest and at the same time make the
railroads Efficient As long the
war lasts. efficiency IS more important
than profit and loss. and some billions
OF dollars will have to be added in tracks
up to the present demand Not long ago
the Interstate Commerce Commission gave
estimates Of the needs OF the roads until
1920 Those were peace estimates and
the war demands have far Outsrripped the
needs OF that time The peace est-
mates were almost $4,000. 600 900 which
would have had 70 be spent IN railroad
materials and tracks. They included
tracks. main tracks. yard tracks and sid
ings. The new rolling stock vas esti- !
mated At over $4,000 locomotives and
l. Oo. 900 more cars. and in addition were
terminal facilities costing hundreds OF
millions OF dollars
Some years before the late James =
Hill. president OF the Great Northern
railroad. died he estimated that $1,000 !
600, 600 new money should so into the
railroads every year in order that they /
might keep abreast with the growth OIL
the country Other railroad authorities
have given like estimates, and in 1912 I
samuel " Fairchild, chairman Of the
New York state chamber OF commerce. /
that It would take IS. 600 .00o. 00o !
to maintain the railway facilities equal I
10 the traffic Of the country for five 4
years after that time These vast sums
have not been spent. Pnd the situation -
such that the government viii be forced I
10 enormously increase our railway invest I
men-
At the same time many economies OF 4
all kinds will probably be introduced I
through government control The Injuries ]
OF travel viii be abolished and the passen-
ger service win be cut to the minimum. /
All freight will be routed over the short i
est possible routes. and BY this means.
together with the cutting off OF unneces-
sary service. millions OF train miles viii Il
be saved. It IS estimated that more than