Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-01-03
GOSSIP OF The STREET
FINANCIAL MEN
DISCUSS MARKET
Bankers Here Find Interest i'm
New York Traction Situa.
tion-Othcr Items

Many familiar figures in the financial
district were absent yesterday for va
riety Of reasons, but the principal one
advanced would lead TO the belief that
the "fu" has broken out again in this
city and suburbs.
The principal subject spoken of in
banks and brokers' offices was the trac-
tion situation In New York and Brook
lyn. The announcement that Theodore
r. Shonts, president of the 1nterboro
Rapid Transit Company, operating the
subway and elevated lines in the bor-
oughs of Manhattan and the Bronx.
had addressed a letter to the New York
municipal government stating the
granting Of an eight-cent fare is i'm
perative II the company is to avoid
bankruptcy, following the appointment
of a receiver for the Brooklyn Rapid
transit, seemed to act as a wet blanket
over everything financial
Few could be found to take much in
terest in Judge Robert S. Lovett's dec
iaration that the necessity for exclusive
national control of the railroads as op-
posed to State regulation. 1t was con-
stdered too obvious for discussion, and
the only debatable question Is whether
that control shall be through Govern
ment ownership or by exclusive Federal
'SbuiatioH OF private ownership.
one banker. whose opinion was asked
oi ue matter. SAID ne had no doubt
'',''' 'ne committee or railroad executives
VINO are 10 meet here in the Bellevue
Stratford on Sunday next, will have a
satisfactory solution Of the difficulty. at
least he hoped they would. He said
he was not alarmed by the $50. 0O0. 600
deficit in the Government operation of
the roads during tho war neriod ,,d a.
assume that similar res,,l,s ,ro,rd nh,,, :,
during n no,oa ra,to., % -, ....II
,,.o,,,d =. -. '"u y, epu". "u' "'''''
A,t,a, 4, a"u u''' 'aso,,ao'e'
I,.e,,.. ne was III iaVor OF Judge
,-oVe''s nian OF competition between the
,a,se syS.efns' ne SAID 1t had certainly
Nept ''e systems up 10 high state oi
einciency when 1t was permitted. and he
pehe'ed 1t was necessary for that pur-
pose.
~ is SAID II Is the intention OF the
Association OF Railroad Executives no,
to make public its plan for the return
of the railroads to private operation un.
I'll after II is presented to the Interstate
Commerce Committee of Congress. II
| is generally believed. however II vii
suggest a Government, control ,rodo,ef
| on an orsanizotIo, similar o. ~ uaa
oral Reserve s,eta,,,
|
dont Know whether 1t is the
weather or the condition of the security
marker or the depression over the ap
poitthent OF a receiver Tor the Brooklyn
hapid transit system or all three com
oihed' Dut almost every one l have
spoken 10 today seems to have groucf
or is feeing blue about something whicf
ne cannot diagnose himself was tn,
remark or downtown banker yester
day morning
And, he continued. there is really
no good reason Tor such feeling o.
thls hrst business day or the New Ieal
l9l9.
Any one who expects affairs to righ
themselves. or be righted all at once
after the most stupendous and costl!
war In all human history is not reason
ahle, ne continued.
we are IN the midst or period OF in
uustrial ana hnahciai CONFUSION, but tn
chi,eu states is IN bct'er shape hnan
, cidil!' lnuuS'ldliE ana eCOnOmlcall