The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1921-06-25

Circulation of Quarter OF Blllioh Doiihs
Might Omen Notwithstanding Takes
Middle Position Between Eastern and
Western Bankers on Business Policy.
By DAVID LAWRENCE. rs
(SpeciaI Dispatch to The Rferomer)
Copyright 1921.
WASHINGTON. June 2j.-PreSident
Harding revealed to the western bankers
who gathered at the White House sig
nificant Impotence with those railroad
executives who have neglected to come 10
Washington and straighten out the large
claims which they have against the gov
eminent as result of war operations of
the roads.
While the first conference with the east
ern bankers covered the subject of foreign
trade and the handling of foreign loans,
the second session at which bankers from
the West were invited found itself soon
concentrated on the railroad problem.
Mr. Harding asked for views on the
business situation throughout the coun-
try and sought direct information as TO
methods of allpviating the present depreS-
sion At practically every turn the rant
road question thrust itself forward. lt
was brought out clearly. for instance, that
many factories and mills were shut down
because the purchasing power OF the rall-
roads had been dismissed. SO the query
naturally suggested itself as to how the
railroads could increase their purchases.
Many of the bankers present seemed To
| think the adjustment of war claims
would be a valuable stimulus to the rail
iroads. The treasury department has a
fund of approximately quarter OF blihou
dollars on hand which it stands ready to
NAV to the roads whenever an agreement
can be made on claims
! Like great many other concerns
which did business with the government.
| however. during the war the railroad put
i'm a maximum claim feeling perhaps that
! the exact fgures could be arrived at IN
conference later on. The government
wants to pay what is fair and probably
the railroads will he glad to get favor
; able adjustment. too, but the railroads
! have not shown as much interest settling
these claims as the government would
/ like to see manifested. Every once in a
while railroad executive comes down and
after Il conference with government au-
thOriticS agrees to the settlement pro
posed. but what President Harding IntI-
mated at the conference of bankers was
that the railroads ought to get busy and
send more of their executives here and dis
pose of the question promptly. He was
very diplomatic in his references to the
railroads and spoke only in the sense that
he believes the railroad executives ought
to cooperate with the government which
he insisted was more than anxious to
help.
The payment of quarter of a billion
dollars to the railroads would start many
factories going again and would enable
the railroads To do many things. the neg
i lect of which at present u having Il pSy-
chologicalIy bad effect on kindred indus
tries.
| The general tone Of the answers to Mr.
! Harding'S questions about business con
ditionS was optimistic. Some of the
bankers said the farmers were getting on
much SOuHder basis and that consider
ing pre-war prices of wheat the agricul
tural industry of the country was reap,
ing fair prices. OF course that's the bank
ers' view. but it is significant to contrast
these expressions from western bankers