Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-01-07
ASKS RAILROADS.
CAPITAL NEEDS!
McAdoo Calls for Esti.
mates on Amount Nee. /
essary for 1918
PLAN OF RAISING FUNDS
WASHINGTON

NhSHlNGTON, Jan, I;
director General McAdoo today call.l
en- the railroads for estimates Of ~,
money requirements during 1918. u.
asked all railroad presidents 10 rsnor,
not later than January Q what can,,.,
will be needed and what plans n,
raising it are recommended. At N.
same time he asked for detailed infor
nation of operating revenues, expAns.,
and incomes for the fiscal yasr end,p,
June 80. 1917.
The director generals order seeks 4.
arrive at a basis for financing the IA.
tional railroads now under his direction
The orders follows:
You will let me have not later than
January the following information:
\ statement showing the amount AZ
capital your company will require *
raise during the calendar wear f9fi
and also separately for the first six
months of that calendar year.
To meet all maturing bonds and
note issues which have not ALREADY
been provided for. or which are not 10
be paid out OF the cash resources Of
your company, showing dates of such
maturities.
and construction work already con.
tracted for and partly finished (this
statement should show what portion,
II any, Of such work can be stopped
now without detriment). n
An approximate estimate OF the
capital which may be imperatively Inn
portant to provide for other construc-
ton work. improvements and bet
terments, including additional term.
inals and new equipment (showine
equipment separately.
An approximate estimate OF the
capital which. In the judgment Of
your company. II Is desirable to pro-
vide for the above purposes. but for
which the demand is not absolutely
necessary for the protection OF the
property or for the maintenance of
its earnings.
A statement as to the character Of
stocks, bonds q; notes with which,
your company expects to be able 10
raise the capital SO required.
Information as to the number ol
freight, coal and oil-carrying cars n
operation. owned and In repair shops o.
December 81, was asked Of all roads.
sFurther unscrambling Of freight CON
gestion was In prospect today as a result
of Director General McAdoo's order IN
creasing car demurrage rates .t
With this process VIII go. too, som'
increase In living costs. McAdoo indi
Gated. inasmuch as extra labor will b.
required to get prompt unloading. Hi
new schedule of demurrage rates, ef
fective January 81. will allow cars 4
remain sidetracked two days free. bu
thereafter the rates will go SO to 100 Pc
cent above the present
In making these changes McAdoo helt
that the requirements of the war am
the health and comfort of the natioi
demand the extra efforts the order 'wil
require, and he expressed the view this
shippers and the public will readily bea
the added burdens from a patriotic spirit
More locomotives were free today 10
freight service as further curtailment o
passenger service had gone. into effec
overnight.
over 125 trains bave been clipped ol
the Pennsylvania system, with enougl
th other lines to make more than 40e
This frees many locomotives for freigh
service. badly needed because weaths
anu labor conditions east OF PittsburgI
havr reduced efficiency by eliminating
number of trailers. -