The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1920-10-15

the latter proposition. 1t was argued
on behalf of the trunk line plan that lt
could be more easily financed and would
eliminate many present delays az gate
way points in western New Englanu.
Supporters of the New England plan
charged that merger with outside sys-
TENS would mean an elimination OF COM
petition at the gateways which would
be hurtful to New England industries.
Traffic managers of nearly all the
large industries in New England, and
many of the railroad officials themselves
are in favor of consolidation. Ihls pro
vides for the consolidation of all but the
Boston e Albany, which has its own
Western connection with the New York
Central Wherever this plan has been
discussed among manufacturers 1t has
been regarded with favor from the OPP
Grating point of view. So rzs
Financiers say that there would be no
difficulty in financing a consolidation
composed of the Boston & Maine rail-
road and the other northern New Eng
land roads, but doubt is expressed as to
whether the New Haven railroad could
be taken into d New England consoli-
dation on such terms and under such
conditions as would not impose too great
burden upon the consolidated rail-
road The New Haven railroad, which
has lust taken a general mortgage, has
=
account of various purchases of trolley
lines and other outside properties. 1t is
regarded as likely that the stockholders
of the New Haven railroad would insist
upon being taken into a consolidation
upon the basis of value as determined
| by the interstate commerce commission
and, while this value may cover the COM
pany's indebtedness, the earning power
| of the company may not Justify it as q
| basis of consolidation.
Action has been taken by the inter
state commerce commission already to-
ward a consolidation of the railroads
that serve New England, but whether
| the commission will favor the New Eng
| land plan, or the trunk-line plan, or pre-
sent an entirely new plan is not known.
| If the New England plan cannot be re-
allied on account of the financial diff
culties of taking the New Haven rail-
| road into the system the industries of
| New England, of course, will have to ac-
cept some compromise, as any merger
that eventually is adopted must com
mend itself to the interests that are to
provide the money. Professor William
Y. Ripley of Harvard university has
| been engaged by the interstate commerce
commission to make a study of all the
| railroads in the country with view to
| their consolidation into strong systems,
and it is expected that when his work is
completed the commission will recon-
| mend to the various railroads how they
shall combine, resulting in not more than
about 30 systems. Professor Ripley has
| already acquainted himself with the
| proposition to merge the New England
| lines into one, and has considered the
| trunk-line proposition.
Before any plan is recommended by
| the interstate commerce commission its
tentative plans will be submitted for pub
| lie consideration and public hearings.
| When the New England industries are
given the opportunity to discuss the pro-
posed merging of lines before the COM
mission they will be prepared for it,
especially in Massachusetts, through the
careful consideration they have given the
matter already.