The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-06
RAILROAD SECURITY
HOLDERS PROTEST
Executives, However, May
Ratify Contract To-day.

The fifteen members OF the Railroad
Executives Advisory Committee will
convene at 80 this morning in the
New Haven board rooms in the Grand
Central Terminal to ratify the contract
for the standard roads as finally ap-
proved by Director-General McAdoo and
the Solicitor-General of the United
States Thomas De Witt Cuyler Of
Philadelphia, chairman OF the commit
| tee. will preside. and Alfred p. Thorn.
who has conducted for the committee the
protracted negotiations with the Rail-
road Administration. will explain all
features OF the contract
In the call for the meeting. the ses-
sion was described as important and
the following members have signified
their intention to be present: S. T.
Bledsoe, general counsel for the Atchi-
son, Topeka and Santa Fee; Howard
Elliott, president of the Northern Pa
cifc; "A. II. Harris. vice-president OF
the New York Central; julius Krutt-
schnitt chairman Of the Southern Pa
ciic: l.. F. Loree. president OF the
Delaware and Hudson; Samuel Rea
president of the Pennsylvania; w. L.
Ross, receiver of the Toledo, St Louis
and Western; C. b. Seger. president Of
the Union Pacific: Frank Trumbull
chairman OF the Chesa peake and Ohio :;
F. D. Underwood. president Of the Erie {:
Henry Walters. chairman OF the At
lantic Coast Line. and Daniel Willard,
president OF the Baltimore and Ohio.
A. ]. Earring. chairman Of the Chi
cago, Milwaukee and st. Paul Railway
will be unable to attend and no word
has been received from E. NJ. Hyzen.
vice. president OF the Chicago and North
Western.
The opinion was expressed in rail-
road circles that the entire advisory
| committee would vote to accept the con-
tract as approved by the Director-Gen-
eral and that the matter would await
| then the action of the individual directo-
rates and stockholders In special meet
ings to be held within a few days.
Despite the disposition OF railroad ex-
ecutlves and directors to accept the
rental contract without further negotia-
ton the National Association OF Owners
of Railroad Securities. after a meeting
yesterday OF the subcommittee in the
Office OF Samuel Untermyer, counsel. de-
olared through S. Davies Warheid presi-
dent of the association, that the contract
still is una acceptable to them In at least
three particulars. This Subcommittee
adopted resolutions calling a meeting for
next Wednesday in this city OF the imam
cial committee of seventy representing
| the entire association.
The three contentious which have been
denied by Director-General McAdoo and
regarding which the committee of sew
| enty must determine the action and pol
| icy of the association at next weeks
meeting follow:
I. 1t gives no protection against the
| return to the railroads by the Govern
ment OF physical properties stripped Of
all business and connections or other
wise possibly destroyed in value by the
process OF unihcation.
2. 1t gives no protection against the
piling up of debts and charges against
the railroad companies on account OF ad-
ditions, betterments and extensions for
war purposes and for other purposes not
| beneficial to the companies.
8. It gives no appeal to the courts, but
leaves with the Interstate Commerce
Commission sole decision on important
questions that may arise under the con-
tract.