Evening journal., 1920-05-15
R.rLRoADs Musr HAVE rmomrl.

Sx-HE giving by banks and manufacturers OF priority to
the needs OF essential industries and especially TO
railroads is urged in editorial in the current issue OF
the Railway Age t contends that because Of The vast
amounts OF capital, materials and labor being absorbed
by non-essental industries H is being made impossible
for the railways to rehabntale and expand their faci
ties and that this situation which the wei
fare OF the country Il declares that for example, in
spite OF the dire need OF The country for freight
cars OF the largest freight building concerns in
the country recently forced 10 close down because
II could not get materials for building for which
Il had orders The automobile industry, IL is asserted
has largely bought up the materials needed TO build
freight and locomotives.
During the war, the Railway Age IL was recog-
nizod as a national necessity that discrimination should
Ne pracced between essential and non-essenilar in
dusires in ihe furnishing OF capital materials fuel and
transportation Doubtless Il would be undesirable in
Time OF peace to re-establish priority in Industry by
government ineNcnlon but conditions have developed
which demonstrate The need FOR The private management
OF certain GLASSES business concerns 10 establish sys-
Of priority which viii favor essential Industries
Agriculture, coal mining, transportation are essential
industries The manufacture Of many other things is not
essential People would not freeze ssrve go naked
unsheliered without such things.
The railways need vast amounts on new capital TO
provide facilities with which TO transport the country I
But railways with the very best records for
earning and paying interest and substantial dividends are
nnune u extremely ulncut 10 raise new capital anc
having 10 pay exorbant rates for a. Railways with
less credit nding Il almost impossible 10 raise cap
tai at all Meantime billions OF new capital are benl
absorbed by automobile companies moving picture com
panies, wild cat oil companies. and so on
The railways need vast amounts OF equipment and ma
ierials With which rehabiiiste their properties an,
enlarge their capacity. They and the railway equipmen
and supply companies which build cars and Locomotives
and fabricaio materials for the roads, are nndlng i'm
possible 10 get sufficient materials.
The banks can establish system OF priority witt
respect TO capital by sharply eurtsng loans non-essen
ai Industries and oanlng relatively large amounts tn
farmers The railway companies and other persons an
concerns engaged essential industries The manufsc
turers can establish a system Of priority with respect
materials by giving preference in supplying them 10 IN
railways and other essential industries What is gon
to happen TO The entire Industrial and financial struC
ture OF the country il those who able not help tn
railways TO get capital and materials?
In this connection il may be pertinent TO refer to IN
fact that NE Transportation authorizes the
terslate Commerce Commission. whenever it is OF N
opinion that shortage Of equipment congestion Of traff
or other emergency requiring immediate action exists
section OF The country, give directions pre-
crenco or priority in transportation, embarsoes.
movement Of tranic under permits at such time and 4
such periods as IL may determine and to modify, chsnl
annul them II Is inconeeivabe that The tran
poriatjon situation may become such 10 justify 4
Commission in establishing system OF priority and pc
ms in the handling OF traffic and II This should be q
viii the Commission be justified using its
thorty 10 give priority TO commodities produced by
Intended for essential industries