Evening star., 1920-03-21
REPORT TOOWNERS
Of RAIL SECURITIES
Suggests Committee to Han
die Legislative and Finan-
cial Policies of Roads.

A report dealing with the activities
Of the National Association of Owners
Of Railroad Securities has been sent
out to members of that organization.
which In its results may be of far
reaching benefit not only to the own
ers OF railroad securities but also to
the general transportation system Of
the country.
by q Unanimous vote Of the COM
mittses of the association the presi-
dent and officers were authorized to
carry out the suggestions therein
made. and II was also voted to send
representatives OF the association,
with counsel, to the hearing to be
held here Monday by the Interstate
Commerce Commission. in respect to
the administration of the act recently
passed known as Transportation act
of 1920"
Make-Up Of Conmittees.
The substance OF the suggestions of
the report. which were adopted and
authorized to be carried out. was that
the association communicate with the
directors of class A railroads suggest
Ing that the board OF each road name
on a committee to be known ms "com-
mfttee of railroad directors" This
committee of directors to name a
smaller committee composed of not
more than twenty directors: tho
committee OF twenty to name n sub
committee Of about seven members;
the members OF the committees to be
selected geographically.
There there shall be referred to this
committee the questions of policy.
nrrhv ~A
which the railroads viii have to deal,
also matters of legislative, financial
policy in respect to the railroads az q
whole. and that the members of this
committee shall be composed Of di-
rectors in touch with general busi-
ness and financial conditions.
That the association will designate
committee to meet with the commit
tee or directors and discuss matters
properly before the two bodies SO
constituted. Action Jointly taken to
That the organization known as the
American Railroad Association. with
Headquarters at Chicago. and now
maintained by the railroads. presents
the means Of solving the technical
and which affect ali the railroads
and in the disposition Of which all the
railroads could concur. and such mat
ters may be disposed Of by the asso-
ciation. Mr.. r. H. Ashton, among
ehe ablest railroad executives in the
country. is president Of that organi.
zation.
Shipping Committee Urged.
1t was also suggested that the larger
shipping organization of the country
De asked to name a committee from
among their executive or other com.
mfttees as standing committee. to
confer with a like committee to be
appointed by the executive committee
OF the National Association of Owners
or Railroad Securities to take up
questions proper to be considered by
the owners OF the properties with
those upon whom their business de-
pends
The report submitted by President
Warfeld gives in detail the circum-
stances under which the owners ap-
preached the return Of their proper
ties and the necessities for changing
the organic law to admit of rates suf-
In earnings between the various rail-
roads and to re-establish railroad
credit He calls attention that many
OF these necessities are not operating
matters and should not be left to the
decisions OF any organizations Of
pointed out that the questions at Is
sue are altogether too far-reaching
and vital to the people as a whole to
permit of errors in judgment be-
tween the owners and operating
executives; they should have their
proper place in the settlement Of these
questions. and that the public will
the part Of the railroads: that q con-
tinuation Of errors in policies will
inevitably lead to government owner
ship.