Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-05-14
RAILROADS NEVER
MORE VALUABLE
Prospects for a Friendly Re-
ceivership for the National
Properties Co.

Perhaps u was the abortive attempt
of some railroad meii In Pittsburgh who
evidently had not awakened to the fact
that the railroad strike IL thing Of the
past, and had attempted to galvanise
the corpse, that good deal of the talk
in the financial district yesterday hinged
on railroad matters.
In the first place, there was consider
able satisfaction over the statement
made on wednesday. by A. J. County,
vice president of the Pennsylvania Rail
road. to the railroad accounting off
GERS association in convention at At
lantic City, that railroad investors can
take courage and leave the slough Of
despoudency, as their properties were
never more valuable.
Investment bankers who had been
preaching this gospel for some years
past, in the face Of declining prices for
the best gilt edge railroad securities.
were considerably heartened by this an
nouncement from such high authority
in confirmation of the opinions which
they held personally.
One banker said the Importance Of
the transportation systems to a coun-
try is so self evident that IL is surpris-
ing that its advantages have to be pointed
out when inducing investors TO place
their money in railroad securities. All
they have to do to be impressed with
the value of transportation is to com
pare the conditions Of n country like
Russia, where the transportation sys-
tenn has completely broken down. with
our own country, and even our own
transportation is far from being what
Il ought to be, or what it will be in a
few years from now.
In fact, he said, TO come right down
to brass tacks, transportation spells the
difference between civilization and
savasery.
81 see," said a we'll known banker
and broker, that instead of railroad
strike in Pittsburgh q number of the
men who still remained out on strike
are going back to work today"
1t Is too bad that there should be
any labor troubles in connection with
railroad operation at present, he said,
when the whole country is suffering
from high prices, especially Of food
stuifs, because millions of tons on load
ed cars are not being moved, or are
stored in yards. It is foolish for us tc
expect to capture foreign trade wher
we fall down in the transportation oi
domestic supplies, he said, and thu
shame Of 1t is that other countries. moi
nearly so well equipped as the United
States, are out for business in rea
earnest and are capturing the worlds
trade right from under our noses.
Here, he said, is an account OF Ger
many furnishing steel to other countries
when, as matter of fact. she is no
trI 80 tho ch
produced in 1918, the year before tn
war. As against that, he said. tn
United States is also supplying stee
plates to Holland, which shows that W
should have no competition from Ger
many, as formerly the Dutch shipbuild
ers got all their plates from tha
country.
Speaking of national properties yes
terday, a member of prominent bank
ing house identified with the affairs O
this concern said that the final outcom
for the present conditions of its affair
will be a re organization. brought abou
either from the "outside" or the .'in
side," preferably the latter. He ex
pected matters to take the form of
friendly receivership.
The 4-6s, which sold on Wednes
day at 1913, were offered yesterda.
down to Is. $500 were sold at tn
latter quotation. The common stool
Of the American Railways Co. is de
posted as collateral for the bonds. Th
next interest period is July l..
When discussing Mexican affair
yesterday, a banker said that, Will
news from that country in many re
10 f,o 20 and ,,, IN