The evening Caledonian. [volume] (St. Johnsbury, Vt.) 1918-1920, 1919-03-13

To meet amounts due equipment
companies by the Railroad Admins
tration, $183,681, 1865.
To pay for indispensable additions
and betterments, including equipment
ordered by railroad companies, $11O,-.
100000.
To meet maturities of the railroad
corporations, $100,048,965.
To meet excess of cash require
ments to pay current vouches over
the probable receipts up to March 81,
1919, s1O1, 100000.
To bring cash balances in hands
of Federal Treasures up to $800,000,-
900, which is the normal requirement
for one month, $40,000,000.
Total, s701 ,697 ,692.
Tonight Mr.. Hines made a brief
statement relative to the work of
the conference. cit was made clear"
said Mr.. Hines, "that to a large ex-
tent it will be necessary for the rail
road corporations to meet their re
quirements by obtaining loans from
bankers, the resources of the War
L 1IldHCC SOI pOIn tIOII W NC ICoCI FSo
to protect special cases.
"The Director General, and the
conference generally, proceeded on
the view that it was highly desirable
to devise ways to provide for pay
ment of bills and have the situation
met through financing rather than by
a general suspension of work, which
would have deterrent effect upon
business generally.
'The Director General told the con-
ference that he was considering the
ACCESSIBILITY of having the Railroad
Administration issue, under reason
able conditions and limitations, war
rants for amounts due railroad cor
porations, such warrants to be in a
form which would serve as collateral
for railroad corporations desiring to
make loans through banks, and such
warrants to be taken up by the Rail-
road Administration needed to meet
the situation.
"Mr. Eugene Meyer, Jr., Manager
Director Of the War Finance Corpor-
alton, assured the Director General
and the conference that the corpora
ton was DESTROYS of doing everything
possible to assist in meeting the sit
uation, having in mind the interests
Of the Government in protecting
loans and the legal limits placed up
on the corporation.
"a spirit of hearty cooperation
was evidenced by the railroad exc
cutives, through Mr.. Howard Elliott,
who appeared as Acting Chairman of
the Railroad Executives Committee, I
and other railroad corporation Off
Gals. The conferences have not yet
been concluded"
Those attending the conference
were: The Director General, Walker
D. Hines; Howard Elliott, Charm On
Northern Pacific; R. S. Lovett, Pres
ident Union Pacific; Daniel Willard,
President Baltimore & Ohio; Samuel
Rea, President Pennsylvania; Wood
ward Hudson, President Boston &
Maine; Harry Bronner, President
Missouri Pacific; Vice President and
General Counsel Great Northern, (no
name given;) FL. Walters, Chairman
Atlantic Coast Line; Charles P. Per-
kins, President Chicago, Burlington
& Quincy; F. d. Underwood, Presi
dent Erie; W. p Williams, Chairman
Wabash, also Vice President Della
ware & Hudson; w. K. Vanderbilt,
Jr., President New York Central; w.
H. Harris, Vice President, New York
Central; Charles A. Peabody, Presi
dent Illinois Central; E. G. Buckland
President New York, New Haven &
Hartford; Agnew T. Dice, President
Philadelphia & Reading; William H.
Fonley, President Chicago & North
western; L. E. Johnson, President
Norfolk & Western; representative
and counsel of Seaboard Air Line;
Henry Rhulander, President st. Louis
San Francisco; Charles E. Schaff;
Receiver Missouri, Kansas & Texas,
Franklin @. Brown, Chairman, and
w. Scott and James N.
Wallace, Finance Advisory Commit
tee; Eugene Meyer, Jr., Managing
Director War Finance Corporation;
Clifford M. Leonard and Angus w.
l.
poration; Fairfax Harrison, Presi-
dent Southern; Alfred P. Thorn, Gen.
eral Counsel Southern.
After the general conference the
railroad executives themselves met
and adopted these resolutions:
II. That it is the sense of this
conference of railroad executives that
the railroad companies will, in the
present financial emergency, coop
crate in every practical and reason
able way with the Railroad Admins
tration in its efforts to provide for
financial requirements pending an ap-
preparation by Congress to relieve the
"22. That while the problems to
be met are largely matters between
the individual roads, the Railroad
the War Finance
Corporation, and the bankers, it is
deemed wise to have the general sub
ject supervised, on behalf of the rail-