The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-01-04
RAIL RULE OF US.
Is FACING DISASTER
Report on Financing Made for
First Year Of Govern
ment Control.
MORE FUNDS ARE NEEDED
Big Demands for Equipment
and Rental Expected Be-
fore Winter Ends.
Special DespotcA to TIE suS.


Special DespotcA to THE Sex
WASHINGTON, Jan. s.-The Railroad /
Administration is going broke imam |
cially This is indicated in the report |
on financing OF tho roads for the fret |,
year of Government control made by |
John Shelton Williams director Of the
division OF finance.
While a heavy surplus Of earnings
over expenditures Is expected for the
next year by Director-General McAdoo
II appears that meantime Congress will
have to appropriate additional money
for the original $500, 100000 revolving
fund provided to finance the roads under
will have to be made for financial sup
port from the War Finance Corpora
| ton The question OF aid for the rail-
roads by this Government emergency
corporation is under consideration by
Mr.. McAdoo and Secretary Glass. Deci-
sion depends on whether certain techni-
calities of law will make such financing
| impossible.
Mr.. Williams's report shows a
balance of little more than s46,ooo.0o0 in
the $500, 900. 900 revolving fund at the
end Of the year. This balance has been
| augmented, however. by balance De-
tween advances to railroads and surplus
paid In by the roads making money
| during the year and by end OF the
year payments by several big trunk
| lines. These added balances bring the
grand total of available funds to little
over 100000, 900. but the winter prob
ably will see a number of demands on
account of equipments and rental pay
ments that will bring the balance still
lower before the tide OF earnings ana
expenses turns completely
! Total of Advances.
The report shows a total of all adj
vances to railroads and water transpor-
tation lines to December 81. including
loans to roads for current needs ana
payments on account of compensation.
advances on account OF operating needs
and payments on account of new stand
ardized cars and locomotives of $685.
034.759.
In making these advances the Direc-
tor General drew on the revolving fund
for S453454s1O. The balance, $780,
57e,e49, was obtained from surplus OPP
Grating revenues from railroads and ea-
press companies. The roads deposited
sc23. sos,545 and the express companies
s4e.5Os.5i5.
The only railroad properties which
have made deposits with the Director
General of sums aggregating as much
as 100000 in excess OF the
amounts returned to these depositing
roads and the corporations by the Di-
rector-General were:
Atchison, Topeka and Santa Fe. s12.-
500. 900; Elgin, Joliet and Eastern,
$1,000 900: Besserner and Lake Erie,
100000: Duluth and Iron Range. So
400, 600 Richmond. Fredericksburg and
Potomac, sl.54o0o0: Morgan's Louisiana
and Texas. $1,000, 900 Pere Marquette,
sl,145.OOO: Daluth. Mesaha and North
ern. $40. 400, 600: Louisville and Nash
| Vile, $3.50. 900: Atlantic Coast Line.
81. 500. 900: Pullman Car Lines, s:,>0o,-
600: Atlantis Steamship Lines, $1,000
600; Central Railroad OF New Jersey.
81 500. 900; Nashville, Chattanooga and
ST. Louis. - 100000
Principal borrowers shown.
The principal borrower railroads
, were: Pennsylvania. s90,o66,000; New
, York Central, s72.T2o.oO0; New York.
! New Haven and Hartford. s65,s25.O0 ;
Baltimore ana ONO, SJ5,eiJ.uUU' Er1e,
s23. 500. 600; Chicago. Milwaukee and St
Paul, s22.532. 900; Illinois Central, sl7.-
. 425.O0U Southern Pacific. sl6.50o.o 900 ;
| Union Pacific. sl3.5O0OOO Southern
/ Railway, SIl.706,650: Chicago, BurlinS-
: ton and Quincy, slo.Gj0.000 Chicago,
, Rock Island and Pacific, 300, 900 Della =
ware and Hudson, sS.190.oo0; Missouri
, Pacific. ss,40oOOO Seaboard Air Line,
sS075Ooo; Chesapeake and Ohio. ss,o5o,-
900: Boston and Maine, s7067 900
+ Great Northern. $500. 900; Philadel-
phia ard Reading. 5000. 900 81. Louis
i, ! and San Francisco. 5000 600: Denver
and Rio Grande, 100000: Northern
Pacific, $500, 900: Norfolk ard West
ern, $3.50, 900 Wabash, si.645 900 /: Mis-
souri,, Kansas and Texas. si.425,o00
Milwaukee, St. Paul and Sau!t Ste Marie
s41jg.0 900 Buffalo. Rochester and Pitts
, burg. 100000; Delaware. Lacka wanna
4 and Western, $4,000 900; Western Mary.
: land, s3.55S. 600 Lehigh Valley, $4,000
! 900; Louisville and Nashville. $1,000
. 900: Hooking VALLEY. s2,s92,000; Chit
r cago. st. Paul Minneapolis and Omaha
= sG:50. oO0: Minneapolis and 81. Louis
4 $685. 900: Maine Central, s2l3o.00o
;, Chicago and Alton S2,oG0, 900; Chica go
a indianapolis and Louisville. S1.92I.00O
= International and Great Northern, ST.
i, S77.elJ: st. Louis Southwestern. sl.7T0,'
:. 600. and Chicago Great Western
Sl.6SoG60.
!, Advances to all railroads in Deceln
Il Der including payments for new rolling
e stock for various companies, totallco
d SlGS,9s2,7ll.
! Excess of Advances.