Arizona republican., 1921-03-31
RAIL SECURITIES.
 HOLDERS |NvITE .UN|ON LEADERtt ID CONFERENCE
Committee Takes Steps T. Hasten Settlement c Difficulties BetweeI Roads and Employees
IRepubIican A. p. Leased WIrel


 NEW YORK, March 30.-In an efz fort to hasten a settlement of u labor difficulties between the raj roads and their employees the execu- tive committee of the National Asso citation of owners of Railroad Securi ties, meeting today, invited the hea, of the -'big four" railroad brothel hoods to attend a conference helt April 4.
 A special committee of 25 mem bers was appointed and will endeavo. to be helpful. a statement said, ''.n assisting to relieve the immediaee situation and later, generally heipfl in such directions as may appear es- sential.
 Reviewing railroad problems. the committees statement declared ths the disproportionate relation be tween operating companies and reve nue. and between railroad rates an fares and the revenue derived there from must, if not relieved, result il consequences of serious concern. no alone to owners of railroad securities but to shippers. to the workers on th railroads and to the country Asserting that the National Assc citation of Owners of Railroad Secur ties represents in membership near twelve billion dollars of railroad st C0AAotSs d St AOpCA NAoAa CA ff%--- are bonds. the statement added: Many millions of our citizens de pendent upon the stability of tliest | investments, have no collective means | to speak other than through this as sociation.
 An immediate and partial reme6y | seems to lie in an adjustment of rela- tions between the railroads and their employees. The hearings before tla | 1.k ~f,fr r4s 1 not evidence an early settlement. | In its letter to the brotherhoed 1 chiefs, the committee stated that tHe l railroads "are not producing nsi earnings, as a whole. sufficient meet their fixed charges by million of dollars
 "As one of it's first duties, thi i committed" it added. wishes to or | fer it's services in such direction 1 will. we hope, be of assistance to th emergency and with this in view N | suggest that arrangements be ma
 early as practicable for a conferep9 between you and the committee ths. has been appointed
 !, "One weakness in the present situ
 ation,' said s. Davie Warfield. pres
 dent of the association, .is lack C
 CO., ordination between the two gov
 ernmentaI bodies-one adjusts th 1 rates, the other wages 1HeTe S4lOI-
 be coordination between the intel
 state commerce commission. the ra
 making body and the railroad labc board. One government body sitsiI
 in Washington cannot be expected successfully adjust rates and far to meet the expenses incident to ra
 way operation, while another. sitti in Chicago, attempts to adjust wag
 the largest and most important Of
 railway operating expenditures whi
 can only be met by rates the comm
 tee alone is required to establish.
 ''The railroad labor board canr
 be familiar with the necessar complicated rate structures the cor
 mission must create, which requlr
 intimate and expert knowledge of ls - necessities of transportation, Of s limit to which rates and fares n e go and the proportionate distrtbu1 !, of the proceeds from them to tg f various elements concerned in rsz way operation"
 }. Among those who accepted serv1 l in the special committee is Charles n Moore, San Francisco.