The sun., 1919-07-26
ROADS PLAN HUGE
EQUIPMENT TRUST
New Corporation Will Handle
S402, 100000 Contracts
After Lines Return.
EXECUTIVES MEET HERE
Will Submit to House Commit
tee Legislation Calling for
Board of Transportation.

At a meeting OF tffe Association Of
Railway Executives yesterday II was
decided that a national equipment cor
poration would be organized, to handle
the contracts for cars and locomotives
made under the. Federal Administration
after the roads are returned to private
ownership January 1, 1920. These con-
tracts amount to $4o2, 1000. Of which
abou. ;2t, 100000 is still unassigned.
SIS, 900, 900 will be distributed to roads
not members of the association and this
remainder, $3.50, 900, 900, has been al
located to railways represented at the
meeting.
The conference was held in the offices
of the New York, New Haven and Hart
ford Railroad in the Grand Central Sta
ton. After the meeting Thomas De Witt
Cuyler, chairman of the association,
said
"The question of maintenance during
Federal control ia now being Investigated
and considered by both the Railroad Ad-
ninistration and by the railroad compa-
MES. 1t is hoped and expected that with
all the facts in hand an amicable under
standing can be reached between the
Government and the railroads as to the
extent to which they have been properly
maintained while in the Governments
possession.
within a short time the railroads ex-
pect to submit to the House Committee
on Interstate Commerce substantially the
same recommendations for remedial, leg
islation as were submitted by them to
the Senate committee In January of this
year. In order to show precisely the form
which these recommendations would
take, they have been reduced to the
phraseology of a bill. The only change
of Importance will be the substitution of
~ tra rtat fOr no
tary of transportation. with seat In
the Presidents Cabinet as originally pro-
posed
"For some time we have had under
consideration with the Government the
formation of n national equipment cor
poration, TO take up and finance In
single operation a large part of the
equipment contracted for by the Gov
eminent and allocated by II to the
various railroad companies. Some time
go we submitted to the roads belonging
to this association the report of com
mittee of bankers on proposed national
equipment corporation.
Our member roads, having equipment
valued at approximately $250,000,e00,
have signifed their willingness to finance
this through this proposed national
equipment corporation. The participa-
ton already assured represents over 20
per cent of the value of the equipment
allocated to roads belonging to this as
ISOLATION"
Among those present were Thomas De
Witt Cuyler. chairman of the associa-
ton: Harry Bronner. president Missouri
Pacific Railroad: L G. Buckford. presi-
dent New York. New Haven and Hart
ford; Howard Elliott, president Northern
Pacific: S. NJ. FELTON,, president Chicago
Great Western: w. II. Finley. president
Chicago and Northwestern; Charles Hay
den, president Chicago, Rock Island and
Pacific; J. B, Kerr. president New York.
Ontario and Western; Alvin B. Krech,
chairman Western Pacific; Julius Krutt-
schnitt, president and chairman South
ern Pacific; f. Z. Loomis, president Le-
high Valley; L. F. Loree, president Del
aware and hudson: Robert s. Lovett,
president Union Pacific; C. A. Peabody.
president Illinois Central: Samuel Rea,
president Pennsylvania and Long Island
railroads; E. p. Ripley, president Atchi-
son, Topeka and Santa Fe: A. III. Smith.
president New York Central; W., II.
Truesdale. president Delaware, Lacka-
wannas and Western; Robert Walker.
president Chicago and Alton: H. Walters,
chairman Atlantic Coast Line, and w.
II. Williams, president Wabash Railway.