Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1920-05-25
ELLIOTT'S PLEA
Continued from PAGE One) -.

people put their time, brains, energy
and money"
Under the new Transportation Act,
he said, the two pressing questions
now under discussion by the Inter-
state Commerce Commission and the
newly created Labor Board, are the
requests for wage increases exceed
ing $1,000,0O0,000 year and an addi-
tional s1,017 100000 needed by the
railroads to meet the present. basis
of wages, costs, interest and a sum
for dividends and improvements"
Mr.. Elliott declared that New Eng
land and that section of the country
embracing Pennsylvania. New Jer-
sey, New York, Ohio, Indiana. ILL
nois and Michigan were in great need
of improved transportation facilities
Other sections, notably the great re-
gion south of the Ohio and east Of
the Mississippi require Large addi-
lions" to keep pace with the growth
Of population and industry.
Now there is congestion and diff.
ficulty everywhere" said Mr.. Elliott.
Fuel, building materials, and raw
materials for manufacture are tied
up and industry is threatened and
the sluggish movement of grain and
food of all kinds makes the feeding
of our people more difficult and more
costly"
Mr.. Elliott declared that the rail-
road operators were just as DESTROYS
of obtaining fair adjustment Of
So hi.
men as they were to receive the in
creased revenues, He said, there is
manpower, brain power, courage.
common sense and vision enough in
the country to succeed if all will pull
together, work long and hard and
eliminate selfshness, waste and ex-
travagance."
In justification of the railroads po-
sition he said that the price of trans
portation had not increased nearly
SO much as the cost of production.
Expenses had gone up at least 100
per cent while revenues had. in
creased less than 40 per cent. He re-
ferred to conditions in European
countries where. he said. freight rates
had been raised as follows: England
II per cent; France 14O per cent:
Belgium 100 per cent; Italy 40 to 100
per cent; Holland 20 to 140 per cent:
Sweden 200 per cent; Norway $50
per cent.
THE new Transportation Act"
said Mr.. Elliott. lin fixing the rate of
return at five and one-half and six
per cent for two year period might
have been sufficient in the past but is
wholly inadequate to meet the pres
ent situation. The cost of new cap
ital in the United States today, as is
well known is in excess of seven per
cent: The Bank Of England discount
rate is now seven per cent a rate
which only seven times in the history
of that old institution has ever
reached that level"
In expressing the desire Of the rail-
roads to help the Labor Board and
the Interstate Commerce Commission
in reaching fair and equitable con-
illusions, Mr.. Elliott said that the Of
ficers of the companies "as quasi
public servants realize their respon-
sibility to do their part in adjusting
rightly the two $1,000 100000 ques-
tons now before both bodies" They
desire to obtain promptly an adjust
ment of rates that would meet the
letter and spirit of the new law, make
the railroads self-sustaining and re-
lieve the treasury Of the United
States from the necessity of constant
appropriations. He said that the AS
ISOLATION of Railway Executives is
ready and anxious to do it's part in
reaching without confusion or delay
"a settlement of the major question
of furnishing adequate transportation
in keeping with the magnitude Of the
United States"