The Bridgeport times and evening farmer., 1919-12-04
ELECTRIC RAILWAYS SUFFERED
 MOST HEAVILY DURING WAR
General Guy Eastman Tripp Gives Reasons Why This Fact Should Interest Insurance Policy Holders
 of United States

New York, Dec. 4-''The electric railway industry nearly suffered an initiation through conditions caused by the war said General Guy East man TTipp, chairman of the board of directors of the Westinghouse Elec- triC x Manufacturing Co.,, speaking before the reconstruction conference of the Association of Life Insurance Presidents this afternoon. Life in- surance men, as trustees of approxi- mately $16O.OO0,O0O of poI5cyholders' funds invested in street and interur- ban railroad securities, should, he de- clared, be deeply interested in the situation.
 With respect to the judgment used in making this investment" continued General Tripp, the facts are all fla vorable From the beginning to the present time street railroads have had all the fundamentals of a sound in- Vestment. They furnish now and al- ways have furnished an Indispensable service to our urban population. The very existence of modern community life depends upon this form of trans~ portation, and, after water and sew craze. 1t is the most important public utility. In short, if our urban com munities have made for the wealth, comfort and culture of this country, then an investment in street railway transportaQ QOn is in one of the corner stones of the structure; and, if the investment is in danger, it is not be- cause of poor financial judgment
 More than a sixth of the total cleo tric railway mileage of the country is in the hands of receivers. A very large additional number of companies are on the verge of bankruptcy, some If +Ii na+ the financial strength of the much criticized holding companies. Alone of the important industries of the na- tion. the electric railway industry nearly suffered annihilation through conditions caused by the war, and back of all these facts is the fur ther and by all means the most i'm portant fact that the industry, by reason of restrictions in statute law, in ordinances and by franchises, is unable to take measures to save itself from the fate which events show to be imminent.
 'The restoration Of credit is fun damentaI to the continuance of pri- vate capital and private enterprises in the public service, and the main task that confronts the country in solar as the electric railways are con- cerned, is the restoration and the fu- utrc preservation of that credit.
 f"The problem is to attract into the public service not only private capital, but private enterprise at the least cost and with t4Ie best results Co the public.
 '"The street railway problem haa passed the stage where it is simply q concern Of the owners and operators of the properties. They have los. and are losing a great many millions Of dollars, and for them the situation is deplorable enough; but the com munities and through the communi- ties you men of business. the work men, the ordinary every day citizens, are today threatened with the loss Or demoraIZation Of a service that is ab- solutely necessary If business is to continue in our large urban centers, If the health and morale and comfort and. convenience of our citizens are 10 be preserved.
 t'There is evidence that the people themselves are taking an interest in
 the situation