The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1919-01-11
WESTERN F|NANCIERS
STRONG FOR RETURN
OF U. S. RAILROADS

| Special 20 Thr IntclliGcncer.
CHICAGO, Jan. lo.--irom ncnl hi
caEo hnancicrs and business mon today
approved III. plan OF tho National As
snciatiOn Of Owners Of Railroad Sccurl-
tics for a return Of tn" railroads 10
| private ownership by corporation with
shippers. allowing ratio Increases when
need AS promulgated by :. Davies War
| field. president OF the association.
George NJ !:rynolds. president OF the
continental ami Commercial National
bank. Chicago'S biggest financial inSti-
tuition, said: Il am IN hearty sympathy
with Mr.. Wariird's efforts. There
should b" cooperation between the
sh!prIng interests and tho trGnspOrta-
ton lines that would allow reason
q bic interest on rail investment Tho
public must sooner or later undnrS tand
that IT must pay for tn" character or
service Il demands. There should be a
proper relation maintained between
uu,g and income. | think il som" conf
mitrc could b" formed that would BE-
charged with the work Of taking care
of both lururnr and "uign Of railroads
it would work /" thr interest Of every
body. THIS committee would allow
wage increases and II IN" same time
would no charged with the RESPONSE
hility o: taxing care of SUCH increases
With higher rates | believe thoroughly
in the private own"r*Ejp Of railroads.
The government should supervise. but
not too strictly. The operation Of IN"
carriers Ownership ar TOO high a
control b. federal government would
kill tn" initiative OF everybody concern
cd. | Think II the railroads were held
as they arc - months longer the pub
lie would make a demand for their re-
iurn IN private ownership.
John J. Mitchell. president Of tho ILL.,
noiS Trust and Savings bunk. said:
do not think there is any radical diff
ference between Mt. Wnrield's plan and
that Of the railway executives. MI
Wart'nld wants III" corporation or IN"
shippers and to have them feel That
ut times rate increases should be con-
coded an dnot opposed His plan is not
adverse To pooling. ! think all the plans
provide for private operation with
strong government regulatory power.
Tho owners should br allowed 10 run
tho railroads but with strong govern
ment support. The whole question turns
around wages and rates Tho shipping
public must understand that you can't
have all outGo and no income.
John &. Shcdd. president nt Marshal.
Field e. Co. said: Il have not sutti-
cicnilv studied tho various suggestions
that have hcen made To make a defnlte
statement of preference az 10 the best
procedure of handling the railroad prob
lem. The business interests or tho
country are intensely interested in thr
service rendered by the railroads and
| am quite sure the needed service can
Only be secured under operation b. PR
waite interests think tho roads should
ba returned TO their stockholders mt the
earliest moment under such government
control ~ would allow the pooling W
certain facilities"
Most important also ia tho arranging
of rates high enough 10 compensate Ia
Dor with wage sufficient 10 establish
proper living conditions and 10 leave
Il balance for tho proper remuneration
Of the stockholders. and also sufficient
to provide for the upkcep Of the proper
ties TO the highest degree OF GILL
cheney