The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1920-06-07

country Is carahlo OF much greater
development.
Only = start In the Great West.
In the same way the empire west Of
the Mississippi river has only made q
start in IT. ultimate development and
thousands ~ miles OF new railroads
should be built In the next 20 years
aud great additions made TO faclli-
ties of the existing railroads. 80 That
this section from which u large pro-
portion OF the food supply must come
can grow.
rhis region also h one from which
the timber supply OF the United States
must come In increasing quantities;
and again. the expansion Of foreign
commerce mean that Pacific coast
porta like Los Angeles. San franciaco,
Portland, Tacoma Seattle and Van
cOuVer. d.. g.. need increasing trans
portation n terminal facilities To
engage la the foreign to
winch n people must turn IA popu-
ntlon increases IN this country.
Al these great productive ana con
Huming parts nf the country are tied
together hy the railroads aud they are
dependent aud interdepcndent each
upon and with the others aud there
should be the frocst movement Of PEG.
ple and commerce between thcm all.
Congestion Now on the itaiirads.
o there is congestion and difii-
Guilty cNerN where. fuel. building ma-
~terials and raw materials Tor manu-
fucture are tied up n industry In
threatened. and the sluggish movement
" grain ana food OF all kinds makes
the feeding Of our people more dim
cult and mOrc costly.
GO course. temporarily the situation
Is made more acute bl the present so
called outlaw strike hut II " nat
uutl to suppose hat this difficulty will
be eliminated within "a reasonable
time through the action OF the labor
board ana the nnai good sense and
Judgment ~ the American people.
But apart from this. the facilities
are inadequate ana service ir not he
ing given to the cNtcnt that IL essen
tut. either freight or passenger.
Tho rail- Dads have felt that he wis
est way Ia obtain b additional rev
cnueH NOW needed was through an In
crease IN the freight revenue and
have made their calculations accord
ingly ~ has been said hN some that
there could be very marked reductions
in expenses that would produce q sub.
s%tautiai part OF the additional rev
ouue. Under present disturbed con
diuous In this countr and under
present price levels. IL does not seem
possible 10 obtain mu u help In that
direction. Railroad homogeneous
hopq, by close super lsion and by tho
hardest Kind Of worl, to Increase tho
capacity of the cNlFing machine. To
encourage % greater Hpirit ~ perform
= tncr and iu that way obtain % larger
net result from ans Given quantity "
-, business
This. however. VIII he "a slow pro.
I cess and untii the present feeling Of
unrest throughout sue world and len
his country which Encourages. upuar-
emily. q lack OF "a oesiro Ia work. D.
charged and there i- "a greater spirit
d, to work ana save. tho country Cuunot
count on - large 60 itrihution to the
. HH.H HHHH -LH III L- .-L-
. saving In Expenses.
liaiiroad Itntc~ hive Not lscu
Oppressive.
The Couutry has D ospcrcd greatly
p In the last 90 years md people ~ a
whole have more GOT fort and better
living conditions thar formerly This
Indicates that the pnN uenis hcretufo o.
made tur railroad service have not
been rcprcsatNC IN HTk way. The earn
ing power OF the rua is ought to DE re-.
stored promptly Ht least to tho ptc.
war basis, iu the int rest 81 better ser
, Vice ana Co attract new capital 10 the
II business Such res grafton must come
b from Increases IN rates Wiich have
had no Increase Di mpHrahlc with tho
increases ln all OF or prices.
IL The proposed ir rcasos In revenue
Z atc essential To restore the credit at
3 the railways ana especially to Obtain
ID the confidence 20 the everyday iu-
weston. The pas age or the nov hill
has encouraged him somewhat. tut
he needs greater announcement and
% rs prompt "a ision possible, IL M,
o. spun Of the new tuW IN tu hV carried
{ out iu u broad. tsr-seoIuE WAY. rculiz.
q Ing that the United States Is relatively
on uudyNclop,, country. needing
transportation "a almost unlimited
o quality.
The investor wants 10 10, assured
q that the theory ~ the new law To pro.
tcct % oncouU go the railroad busi,
ness h. now being put into actual prHy.
tiCC and ihat. H. the interest uf ser,
Vice To the puh'it. the law is being IN.
tcrpretcd lu q hIerul manner
ID Inmoprunt Ia Interest the small
Investor.
n is more inn urttut han ever he,
q fore to Interest TIE small investor Doe.
!, cause the erect a. nm" present income
A TAX b. To AXE away from he man ui
large means uu Increasing amount ui
his income. as thai income grows, tud
. leaves u decreasing part OF b. &C. rein.
9 vest tn Industrial enterprises
nigh Cost 1T New ItailtDad Capital.
i The cost Of new capital today. rs b.
well known. Is a. excess OF seven pct
u cent only recently Their" ave been
be- borrowings hy tive roads horrtofor,
n called strong roads. The Sew HurL
Central sold ahout $4,000. 900 Of 10.
q year equipment notes. tho lenusNl
20 Nunla sold some $50, OOU. 900 of ten.
Il Iyclr collateral notes: the Northern pc.
f. cihC. $4,000 600 Of tou-lrur equip.
O Wout notes. the AtlnuliC Coast Line
n 81. OUu, 600 En- ten tvlr collateral notes.
tile Louisville a Nashville. 81, 500. 90,
Of tou-Nolr collateral notes
These notes an carry u rate uf sever
~ per cent ana the cost Go the uarrtcr-
> after paving tho expenses OF distrihu.
, uuu 10 individual investors. means .
rate of Interest In excess at ~ pee
~ cent 100 each ease.
n would be- much bottcr " an uI
% these roads had hoon nhlr Go sell stock