New-York tribune., 1920-10-12

passenger station in keeping with its
degree of civic pride.
The task of providing all these i'm
provements is not lightened by the fact
that many OF them, calling for the out
lay of many millions of dollars. will
produce no revenue Whatever For ex-
ample, there is a proposed now station
at one city planned to cost $50, 900, 900;
an electriication project for another
city will cost at least 100000 600; an
other project will cost 100000 600; an
other involves an outlay of 500, 900 600,
and still another calls for $50,0o0,o00
Tor railroad improvemenM to keep pace
with the citys specta cuffr growth. A
number of smaller cities require i'm
proved terminal facilities increased
track and station capacity. in fact,
the whole country, at least west to the
Mississippi and south 20 the Ohio, is
growing so rapidly that it greatly
needs extensive railroad improvements.
Our country, particularly the East
ern part of it, has reached the point
at which it must decide whether it is
to increase its transportation facilities
to keep pace with growing business. OF
whether it is to restrict business to
the limits fixed by transportation. No
Que doubts what the decision on this
issue will be; the railroads must and
VIII meet the needs Of business. There
is. of course, a limit to what can be
Gone with the facilities we now have,
although the railroads are ACCOMPLISH
ing much In the four weeks ended
August %, 3,953,82 cars we're loaded
in the United States, the greatest
number ever loaded in a similar period
III our history. The only time the
weekly record Of August, 1920, has ever
Teen approached was in two weeks of
1913 at the peak of the war rush. when
al workers were stimulated by patriot
Ism. IN spite of the concern about the
coal shortage and the difficulty of the
railroads to provide the cars to move
the coal, the soft coal movement into
New England has up to date met the
need and all expectations The New
YORK Central Lines, | am glad to say,
from January / to September /, CON
trlhuted an increase OF 1874 per cent
over the first eight months of 1919. in
moving coal into New England.
Ana in spite of the hindrance caused
by the "outlaw" strikes last spring
these same lines handled about Ii per
cent more loaded cars of all commodi-
ties IN the first six months Of 1920 than
IN the corresponding period of 1919.
mehton thus in appreciation OF our
men and officers and with the feeling
that such accomplishment by them con.
traolcts, more strongly than can words.
any statement that they or the rail
roads have broken down under private
or nome management. After all. the
oincers and men, who went to the gov
ernment IN war, are merely back home
again, lnasmuch as nearly all have
spent their lifetime in the service. fol-
ioWlng the Footsteps of their fathers
and grandfathers. 1t is this personal.
human element in the operation and
development of American railroads that
has given them their strength in the
past. War upset them, as it did every
thlng else, but given fair treatment and
consideration they will, as heretofore.
give the American public the best and,
comparatively, the cheapest transporta-
ton in the world.
The railroads, under present condi-
tlons, can do better than ever before
If their patrons will afford them
reasonable help and cooperation.
Shippers by prompt loading and un-
loading can add tremendously to the
did spirit of cooperation has been
shown in this direction by the Amcri-
can business man, while the railroads
have been awaiting new equipment
1he problem is a joint one
Less regulation of the highly tech
meal business Of railroading would
also be great help. The proverbial
Dull in the china shop could never do
traction of the darare that can be
wrought by irresponsible theorists in
great industry.
IN more direct way the problem of
providing facilities for ADEQUATE trans
portation is up to those who make use
of them. While the transportation act
mas at last recognized formally the
right Of the railroads to earn return
upGn inc capital invested, this return
Is liiHlted to per cent upon the capi-
tai invested in territory defined by
the Interstate Commerce Commission
other enterprises are unrestricted, and
may pay the holders of their securi
ties great deal more, perhaps three
times per cent Human nature in the
person of the average investor will not
sacrifice his income by taking railroad
securities in order that transportation
may be provided.
In view of the fact that Congress
has declared it to be the national pol
icy to "foster and preserve in full
vigor both rail and water transporta-
to-, it is implied that capital is to
be made available; in other words, that
investors will find railroad securities
safe and attractive investments.
But there is another appeal to
thoughtful business men, that is, to
insure themselves against the losses
certain to come if there is 8 lack of
sportation.
Prudent men insure their property
against loss by fire. Marine, burglary,
cyclone and other forms of insurance
afford protection against the various
hazards of enterprise. A more serious
loss often has been suffered merely by
inadequate transportation. but up to
now this has not been covered by any
form of insurance.
1t seems to me the practical wav to
supply this lack is for business mer
to lay sside certain definite proper
tion Of their surplus revenues to be
invested in railroad securities. This
would simplify the difficult problem Vi
financing railroad additions and better
monts. Al d it would be sound business
sense; for of what avail is it to invest
money in manufacturing plant, for
example, which assures yield of good
profits when the practical difficulties in
the way CT obtaining materials and Of
getting .h- finished product to d markc-
at the right time, owing to lack oe
transportation on an overburdened rail-
road, may turn the promise Of profit into
n loss?
Copyright. 1920 by The Mcclure News
paper syndicate.
This is the SECOND Of Il series OF
tiiei irc articles m tI. .-c.j,o1do