The New York herald., 1920-01-28
FOSTER RAILROADS,
F. H. SISSON'S PLEA
Deadlock in Congress Hampers
Nation's Welfare, He Tells
Traffic Club.
CRISIS IN CAR SHORTAGE
Lines Must Be Restored for Sake Of
General Interest of Business
and People.
CRISIS IN CAR SHORTAGE

several hundred members OF the Traffic
Club Of New York, attending their monthly
meeting last night IN the Waldorf-A storia
heard Francis II. Sisson. vice president of
the Guaranty Trust Company. declare that
the railroad problem is the immediate and
intimate problem OF all citizens, taxpayers.
consumers and producers. Mr.. Sisson said
fundamental economic question fairly and
sanely in the public interest through its
duly accredited representatives it shall
have loosened the cornerstone of America S
whole economic structure and must be pre-
pared to see it tumble about us carrying
terest alike"
Mr.. Sisson raid the paramount concern
of the railroads is their future after
their return to private control in five
weeks The situation, he declared, is
occassioning particular alarm because
Of the apparent deadlock between the
Senate and House on railroad legis1a-
tion.
'If that deadlock conf tinues much longer
said Mr.. Ssson, there will not be time
enough in which to enact adequate and
satisfactory permanent legislation before
the date set for turning the carriers over
to their rightful owners. In that unfor-
tunate event. either the President must
postpone the return Of the roads or Con-
gress must pass temporary legislation
which will extend the government guar
antec to the railroads for a period of
months.
ITO resort to either alternative would
be dcplorable for many reasons, but chiefly
because every day that the railroads are
held under government control means Just
that much moro deterioration in roll
ing stock and equipment which now are
dangerously inadequate to meet the in
creasing demands upon our transportation
facilities.
"Only a few days ago the Director Gen
eral of Railroads, in discussing the press
ing needs of the situation to use his own
explained The Railroad Ad-
ministration has not at any time been, and,
of course, is not now. in position to obtain
the additional new equipment which is
needed. Such equipment is chargeable to
ca apital account and, OF course, must be
paid for by the railroad companies
Car Shortage Hurts Business.
IAN indication of what this state Of af-
fairs and the delay in restoring the roads
to private management means in cost
and inconvenience TO business generally
throughout the country may be gathered
from one fact. namely, the existing short
age OF cars, which is preventing many i'll
dustries from obtaining sufficient trans
portation facilities to supply their demands
for raw materials and manufactures.
The high cost of living. in fact, is attribu-
ted partly TO the shortage of refrigerator
cars . in which pershable produce is
shipped. Twenty thousand additional cars
are said 10 be needed to equip our rail
roads properly in this respect.
THE most important problem to be
solved in connection with the railroad
tangle is that relating to the fixing Of
rates. of course. The question as to what
rule shall be applied in determining the
schedule Of rates overshadows all others.
The Esch or House bin leaves this ques-
ton for the Interstate Commerce Com
mission TO answer, and. consequently, in
view of past experience. does not meet the
of the critical situation. The
financial and physical plight of the rail-
roaos today should offer ample evidence
of the peril that would impend were the
fixing of fair rates left to the Interstate
Commerce Commission.
''The vital question is not what the rail-
roads are entitled to but what the public
is entitled to. And the answer is self
evident The public is entitled to and
must have adequate economical transport
tation service. The continued prosperity
of the country is contingent upon the pub
lie obtaining that kind of service, and as
soon as possible. The railroads must be
allowed TO earn enough to provide II. And
in order to provide that service the rail-
roads will be compelled not only to equip
themselves efficiently but also to expand
their facilities.
adequate transportation cannot be OBJ
tanned without credit; credit cannot be