New-York tribune., 1920-02-24
Promises No Given Income

transportation, considered as q whole
Promises No Given Income
"The assumption of this basis BY
the commission does not promise to
any given railway company any given
net operating income, for the income
depends wholly upon the location of
the railway, the population it serves,
the volume of its traffic and the condi-
tions under which it is operated I'm
der this basis, some railways will earn
per cent, some per cent, some per
cent. some per cent, a few more than
8 per cent and few less than 9 per
cent.
This basis takes no account of
either stocks or bonds, but is concerned
solely with the value OF the property
as d whole. 1t is basis about $50 0OO,-
600 less, in the aggregate, than the
basis of 1917, and about $4,000 900
more, IN the aggregate, than the basis
OF the test period as defined in the
Federal control act.
IL Is well known that we need from
100000 to 100000 additional cars. We
need more main tracks, more side
tracks, more warehouses and more
termlna! facilities Of all kinds II the
railways are to succeed in giving to the
people what they must have, these COM
panles must borrow or obtain in some
way not less than $500, 900 900 this year
and $1,000, 100000 next year. 1t is my
deliberate Judgment that those mem
bers of Congress who fail to take into
consideration this problem in all it's
aspects who use their influence either
to delay or defeat this bill, will in the
end deeply disappoint the great body Of
the people intent upon marketing their
products and in developing to the high
est point our systems OF transporta-
ton
Explains Labor Provisions
Senator Cummins, in explaining the
labor provisions of the bill, said:
The Senate conferees discovered
early that the House would not accep,
that part Of the bill | confess that
yielded with extreme reluctance. The
procedure established in our bill ma,
have been susceptible of improvement
but the principle is everla astngly
right. That there will come a time
when railway workers will see that this
principle protects them more perfectly
than they can evet hope to be protect
ed through the strike. | have no more
doubt than have in the ultimate
triumph of justice in all the fields OF
human endeavor. To me the thought
Il
governmental tribunal composed Of fair
high minded men-a tribunal which
takes into consideration the rights OF
man and speaks for the public welfare
can be overthrown or disregarded BY
any class of our citizens.
"Whenever the public interest re-
qulres the government to assume juris-
dlctlon over q dispute and to enter its
decree expressing the right in the mat
ter all OF us, no matter how we work
or where we work. ought to respect
and abide by the decision The Senate
conferees yielded simply to supreme
necessity, or we all recognized that a
rrallroad bill must be passed before
March | or chaos would ensue.
with respect to the labor provision.
OF the conference report I am utterl,
unable to understand the opposition
which they have aroused among labo,
leaders, for they leave all men free
whether employees or employers, to dc
Whatsoever they please at any time, at
any place or under any circumstances
All that | can say of them is that the,
arc the best we could devise under the
eonditons which confronted us"
senator Robinson declared that gov.
ernment operation of the railroads ha.