The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1920-05-05
OF nation
SEEK Big INCREASE
huge Sum Needed to Bring Incomes
Up to Government
g Guarantee
! PASSENGER RATES STAND
100 Per Cent Advance in Freight
s$ |s$ES Tariff Asked for Southern
si'sss u Lines

81 Washington, May 4.-(By the Asso-
4 iated Press 1.-The nations railroads
\ kyill need an additional SLOT, 100000
& &p bring their income to the 6 per
ssjjsent basis provided in the transporta-
lion act.
Through. the Association Of Railway
u lIs,tsXecutives, the roads proposed to the
iANnterstate Commerce Commission to-
}s lasssy that this sum be realized through
4 i,rfeased freight charges, leaving the
Ssenger rates at the present level.
fst advances in freight rates pro-
z sSyrsed fRfere:
Eastern roads 03.4 per cent to yield
ssan advance in all revenues of 21.1
per cent, or sod 100000.
II Southern roads-30.9 per cent, to
Silroyide 20.7 per cent larger revenue.
f5ie Western roads--23I9 per cent, to ad-
3gEance all revenues II per cent.
Opens Railroad Case.
Presentation of the figures marked
Z 4he formal opening of the railroad rate
Ease. While detailed statements sub
sNnitted to the commission today COW
cred only the Eastern lines, estimates
pf the needed increase Of the West
es1t and Southern groups accompanied
$fbe5 initial suggestions upon which the
II .lrommissioil is to determine an entire
new rate structure.
me- The rate figures of the Eastern
Il H lines, embracing Id systems, terminal
lend switching companies, were laid
t8tsfore the commission by Daniel Will
lard, president of the Baltimore and
slhio, and chairman of the executives
tate committee for the Eastern terri
lSpSy.
SseSlmilar statements, showing the re-
4 @SIuire,fents of the Western and South
asin carriers, will be supplied the COM
4flission in a few days. The analysis
49f conditions, the relationship of op-
grating expenses and revenues and the
4 question of refinancing are largely the
same in each case and the representa-
Mons Of the Eastern lines were said
70 indicate the question with which
EheSs committee will deal in observing
Ebe Western and Southern rates.
sfi3& Big Drop in Revenue.
:. Net income of all of the country's
railroads fell from $1,056, 900 900 in
aH8f6$to $51O,O00OOO last year, the
railroads claim, and while their ex-
3perses We increased more than ST.
[Its!o95 serve IS asis from which the COM
4 mlsslon could work in developing a
fEBcaie OF rates to meet the government
7 T An :s# estimated valuation of $2O,6l6,-
\ g00,OOO was placed on the transporta-
%son system of the country by Mr.. Will
38fd, while there has been an increase
q sSiasratihg expenses of 99.1 per cent
8YYfe19l6, the roads basis of revenues
\ fgF tho same period being increased
iaeAp{y I3637 per cent, the executives
AStatements declared and the operating
efexpenses Of the lines now are 90 per
Gent of the revenues against 68 per
fas;snt in 1916.
EFhls year and next the Eastern lines
Haipne face the rencwaI OF nearly $780,
Il 10000 in maturing obligations, Mr..
APillard said in discussn gthe prob
H en- of ,refinancing the roads. Some Of
hese loans and bonds have been bear
HnE an interest rate as low as 1-2 per
sent and Mr.. Willard declared that in
saking care of this amount of obliga-
ItIons, at the current rate of interest
yhecessitated the most careful study Of
he revenue production question in
tSfder' that the roads credit be kept
Sani,npaired.
Carriers Reassume Burdens
"Ihe carriers must now reassume
3ehe Burdens and risks of operating in
"a period Of uncertain conditions af-
1tsecting business generally" Mr.. Will
Hard said. "Thc demands for addi-
dional facilities and extensions were
never SO pressing as now. The cos :
1Elf new capital is more than 2 per ccnr
a1ef annum even to those railroad com
panies whose credit is the best. .
l8'fVictory bond loans are selling cur
sfenty on a basis Of return in exccss
SIf 9 par cent. New industrial issues,
With which railroad financing must
Gatlroad issues, are now closed to us
IN per cent in addition to liberal