Evening star., 1919-03-13
SURE RAILROADS
WILL GET MONEY
Director Hines Is Confident
After Conference With
Other Officials.
METHOD NOT DECIDED ON

Considerable progress toward evoiv-
ing plan to finance the railways was
made this morning, Director General
Walker ID, Hines conferred with the
for the purpose of suggesting means
for raising the s7s0,ooo,o9 urgently
needed by the railway administration.
1t Ia understood the plan to raise the
money by issuing warrants against
the various roads Ii favored by soma
members of che committee and not
definitely rejected by any. Mr. Hines
said the matter was still IN q pruoess
Of evolution. and the only thing that
appeared certain was that the money
would be Forthcoming.
May Submit Plan to Bankers.
Some officials believe that tenta-
tive plan VIII be submitted TO the
bankers OF the nation inside Of ten
days, while others think this will be
done much earlier. 1t is the purpose
of Mr.. Hines and the railway commit
tee, headed by Howard Elliott. to
study the matter from every angle,
and when plan Is submitted Il viii
be thoroughly digested one.
The committee may hold some meet
ings in New York, and 1t is expected
Mr.. Hines will accompany the mem
bers to that city. The purpose OF
such g. procedure would be to get into
close touch with the nations big
bankers. This, however, is g. matter
which will be decided later.
AS soon as tentative plan is
agreed upon by the committee the
leading bankers of the nation will be
invited to examine 1t. If the bank
ers find it acceptable they will then
be asked to what lengths they are
willing to go In its support. Mr.
Hines does not anticipate any diff
Guilty about getting the money. once
the bankers are satisfied that the
plan for financing the proposed i'm
provements and new equipment is
legally and economically sound.
Financiers Give Encouragement.
1t is understood some of the leading
financiers of the country have already
been sounded on the subject and they
have given the railway administra-
ton encouragement in its efforts to
unwind the tangie. How far the Fed
era1 Reserve Board can legally go in
placing It's machinery at the disposal
OF the railway administration Is a
question which will later be deter
| mined by its legal department, but
1t is believed the board can give sub
stantfal help.
While the War Finance Corpora ton
| has 357,000.090 at its disposal. the
officers of the organization have not
yet decided whether this fund in its
entirety can be placed in the hands OF
the railway administration. II this
can be done, and the corporation is
willing that 1t shall be done nearly
| so per cent of the difficulty will thus
| be disposed Of
Mr.. Hines held conferences with
Secretary of the Treasury Glass.
| Swager sherley. the newly appointed
director of finance for the railway ad
ministration, and other prominent Of
fcials. One resultesof these confer
ences was to confirm the director
general in the belief that the money
would be obtained.
Not Worried About Congress.
Nobody In authority spoken to on
the subject appeared to entertain the
slightest doubt Of what Congress
would do. All thought the law-mak-
ing body of the nation would vote the
needed funds shortly after the Presi-
dent calls Congress In extraordinary
session. But the need is urgent, and
imm ediate and the administration
can't wait for action by Congress, it
WAS explaiued