Norwich bulletin., 1919-12-25
RAILROADS AND EXPRESS cos.
 {continued from Page one)

be the man. chosen to wind up the governments business in railroading.
 Even bigger problems confront the express companies. Consolidated in- to one system under government opp eration, the four original corporations are reported to have asked the de l.rt- ment of justic if there would be any violation of the Sherman antitrust law in their remaining unit.
 In two years Of physical possession of the railroads, the government has encountered a deficit of approximately $646, ,000,009, according to estimates submitted by MT. Sherley to Senator Cummins. When the roads were talk en oFer January 1, 1918, congress guaranteed them rental of $S00,000,- 900 annually, based on the average in come of three year test period. Operating revenues in 1918 fell $236. COG, 900 under that amount. The re- mainder of the deficit has been. in cured in expenses of administration, inland waterways, etc.
 ltrannmyoeAjcgua -0O0ieoenth
 Two appropriations have been made by congress, one of $500,000 and the other of $750.000,000, much of which has been used os a revolving fund by the raiuroad corporations and for tha purchase of new equipment. These amounts will be repaid to the govern mefit
 After the presidents proclamation was announced, Director General Hines made public a message to all officers and directors of the railroad administration, thanking them fo1 their cooperation in the past and be- speaking their best efforts in the re- maining period of federal control.
 In announcing these two decisions Of the president, Secretary Tunulty issued the following statement:
 Last May in his message to the congress the president announced that the railroads would be handed over to their owners at the end oi this calendar year. Ut is now neces- sary to act by issuing the proclama- tion. In the present circumstances no agreement having yet been reaeh- ed by the two houses of congress il respect to legislation oh the subject it becomes necessary in the public in tereSt to allow a reasonable time u elapse between the issuing of tn proclamation and the date of it actually taking effect.
 ''The president is advised that tn railroads and express companies ar not organized to make it possible fo | them to receive and manage thei properties: if actually turned over t them on Dec. 31, and if this were. don it would raise financial and legal com l plications of a serious character.
 'The railroad and express com paries should be given ample oppor l tunity to adequately prepare for tn resumption of. their business unde 1 the control and mana cement of thei own stockholders. directors and off cers. Therefore, the transfer of pos session back to the railroad com panies will become effective at f2.01 { m.. March 1. 1920" --'
 :, The decision of the president wit l regard to the. railroad properties wa set forth in the following proc1ama ton:
 Presidents Proclamation.
 By the President of the United State
 of America,
 "A Proclamation:
 Relinquishment, of federal consre Of railroads and systems of trans portatior. s>
 "Whereas, in the. exercise of au Isthorityss committed to me by law. {. ,l'have heretofore, through the secretar of war, taken possession of, and hay, through the director general of rail roads, exercised control over certa i railroads, systems of transportatio and, property appurtenant thereto z connected thereto. including system of c6astwise and inland transporta tion, engaged in general transporta | tion. and owned or controlled by .sa, railroads or systems of trangporta | tfon; including also terminals. te-p1i nal. companies and terminal associa lions sleeping and par1or cars t5fi vate cars and private car lines, Gle !fvators warehouses, telegraph an ':telephons hnea and all other easiiu