Evening star., 1921-10-23
BY 1. A. FLEMING.

SonsTeSS years deo' ou tHc iHisio
tive of Senator La Toilette enacted
a law forbidding one public utility
company from holding more than 20
per cent Of the stock of another
utility corporation. thereby checking
the possible merger for which a
vehicle had just been launched-the
Washington Utilities Company.
Now Congress is just as anxious Tor
a merger of the two traction systems
as are the people Of the District.
Various lawmakers have given
much thought recently to the ques-
tion of a merger, and, unable TO oner
a solution of the puzzle. have sug-
gested more or less punitive measures
that might be expected to force the
companies into a merger to avoid
them.
Each individual stockholder has a
say in the matter Of a merger-each
shareholder in each company, and
their right has been upheld, Just as
the laws of the United States forbid
confiscation of property and give pub
lie service corporations right TO a
fair return on their physical valua-
ton.
All of which does not lessen the
ington Railway and Electric Com
pany, and it's side partner. the Poto-
mac Electric Power Company, and
the Capital Traction Company would
be most beneficial to the National
Capital.
ing to the Capital city quickly realize
that conditions exist here that should
not, that through routing of cars
over the most desirable routes is
impossible, and that there are two
corporations operating herein. serv-
ing the people where there should only
be one.
In the city of Chicago there were
at one time three surface roads In
operation without transfer Of passen-
gers even for partial fare, each di-
vision of the city being served by a
different road, each covering its sec
tion with reasonable thoroughness
and mutually using tracks in the cen
ter Of the restricted business dis
trict
Three elevated railroads were con.
structed, likewise serving three diVi-
sions of the same city. with different
terminals and separate fares. until
then became the terminal for all.
Today one company controls the
surface lines, and the elevated are
likewise under one management.
Chicago has a street railway sys-
ITEM that will enable passenger to
| ride from one side of the city to the
farthest corner either on l. or sur
face line on one fare.
Moreover the one management fol
each service permits OF the routing
L of through cars from north to south
and east to west, with universal
transfers on surface or L when
through cars are not available:
Washington, with its 100000 peo-
! pie, more or less, should have one
rect car system
Through cars routed from one Sec
ton of the city to the other over both
| lines would make for the greatest
convenience of patrons of the roads
Today it is impossible to leave
Chevy Chase on the District side and
Treasury without change Of cars, unless
that point is chosen very near 18th
street.
Passengers bound to the Capitol
frequently nnd . change plus the the
extra cent convenient. The daily
18th and U and 7th and the Avenue
and at other points emphasize the
need of through trains.
Patrons of the Washington Railway
and Electric should be able to &C
down the Avenue or out 14th stree
or up the Avenue at their pleasure.
AZ II Is today there are routes COW
cred by the same line where pas
senGers may have to change ant
stand for minutes in all kinds o,
weather waiting for a special service
to carry one to his or her destina'
ton.
Az It 10 today the thousands OF
GUS transfer points, free and with
charge. have no way to avoid the
4 Inconvenience.
Washington people would probabl,
follow the lead OF other cities il
given one service for the entire city
and force the "jitney" into retire
ment.
One thing that Congress can do and
should do at once Is to enact a meas
ure permitting of the merger of the
two street railway systems. Thi:
will clear away the obstacle in the
way OF a merge.
May bankers and others think
that both boards of directors have
ideas for . merger now. where they
were formerly opposed thereto.
Investnent Bankers' Convention.
The Investment Bankers Association
! will meet in New Orleans with the enc
Of the present month. A special train
| from New York, with a special from
this city. will carry many delegates Il
the meeting.
|
oughly discussed. and the consolidation
plan Of the different roads, prepared by
John Oldham Of Boston, a member Of
the railroad committee Of the associa.
| ton, will be made public.
1t is also reported that a resolutior
will be presented to the bankers fol
their action authorizing the abolition oi
the Railroad Labor Board.
The Investment Bankers Association
Is a power in the financial field. Evi.
IDENTIFY its members do not fear q de-uI
4 in New Orleans.
Industrial Reports Due.
| Next week the quarterly report Of thu
| United States Steel Corporation will bt
due, American Hide and Leather vii
/ report and Corn Products Company, a.
we'll as Central Leather.
pronounced bearing on market action.
Falling Prices and Exports.
Naturally all figures relating to tn
import or export movement Of products
F.; and goods are materially affected IL
, comparisons with a year ago. by tn
very great difference prevailing IL
values then and now.
! America is the largest importer o
coffee, bringing it in in August at 10h
cents a pound. as against 1874 cents
year ago; Manila hemp was worth $40
| a ton in August and $500 ton yea
| ago; pig iron, $28 a ton. as compared
, with 1923. and many other items II
| the same declining ratio.
| Corn was sent abroad In August At .
| cents a bushel. as compared with Sl:n
a wear ago; wheat, S1.40. against 81 80
and scores of other things in like ratio
the effect being to cut the total valua
tion Of the exports and making IN
loss even greater than 1t actually II
| The Railroad Situation.
| Rate Of return earned BY railroads OF
! the United States on their property In
vestment: o.. ex.<
| ioiS ,,,..... b.15ro
ioiS ..,........ 4.17qb