Every evening, Wilmington daily commercial., 1922-04-29

IL now In. There should be different
rules regarding the loading and un-
loading OF cars. Tho car charge per
day In too small Also free checking
or trunks In absurd. / was examin-
Ing railroad property In tho South a
few weeks ago. In a mornings ride,
noticed that tho baggagc-man handled
but ono trunk during the entire trip.
That baggage-man wns paid five
dollars day. Although there were,
several other trainmen who could
have cared for this trunk, yet because
the Interstate Commerce Commission
required that a baggage be en-
ployed on that train. no had to mako
the trip. Tho railroads arc doing too
much for nothing. OF course they
should render rcrvicc; but they
should be paid for that service by
the people TO whom it Is rendered.
In conclusion Mr.. Babson brought
out the nth reason that railroad Sc
cur1tiss have continued to decline In duo
to tho management. "The railroads
were built by civil engineers. These
engineers have gradually worked up
until they have become tho opera
tors. They are honest, hard working,
intelligent men. but they are trained
for engineers and not for merchants
Now n banker might efficiently operate
tho railroad II he would live on II and
give It his attention, but banker
cannot successfully operate n rail-
road In the South or West from an
ofiioo chair in New York City. Trsns-
portation today is n matter OF mer-
chandising. Tho construction period
Of railroading is gone by. There is no
more reason why civil engineer
should run a railroad today than that
ness or tho Sears Roebuck business
Transportation is n commodity like
/ steel, cotton or fruit. Tho railroads
should be run by men who are natural
merchants; men who were well train
ed to get business. render service and
operate a business at a profit.
when tho railroad. are operated
as great merchandising propositions
looking to their territories instead OF
to Washington, looking to their Gus
toners instead OF TO politicians and
labor leaders. endeevoring TO please
their customers and serve them as O
merchant is compelled to serve his
customers, then the railroads will re-
gain their lost prestige. The railroad,
bear the same relation TO tho pros
perity OF the country as a mans ar.
teries and veins boar TO his body;
thus. a business cannot be prosperous
for any length OF tirne unless tho rail.
road that is serving II In also pros.
porous.
THE railroads arc suffering TO-DAY
from precedent. Tho operators, en-
ployes. and the Interstate Comrnerc,
. Commission arc all doing things be
, cause their predecessors did them
: While conditions remain tho came
precedent is good guide to follow
: However. when conditions chang
precedent becomes a most danKerou
: guide to follow. Investors are fas
coming to this conclusion. Tho rail
, road president OF the future will be
! great merchant and tho railroad EN-
ployes OF tho future Will be traine
= In salesmanship and service. The
the railroads Will come back and IN
!. railroad securities Will again retur
: to the high place which they deserve.
3 Despite the recent stock msrke
e activity. general business continue
e the sidewise movement it has bee
t following since last December. Tn
< Index figure Of the Babsonchar
e shows general activity 1870 belo-
j normal.
8 "Discounting this better day." NJ
Y Babson concluded. Investors ar
c justified in their purchase Of railroa
= securities. especially those OF III
trunk lines. such as New York Centra
:. illinois Central. Baltimore & Obi
d Union Pacific, Northern Pacific an
S Great Northern. Southern Pacih
r Chicago Rock Island, st. Louis & Sa
: Francisco. and Kansas City & South
u ern"