Evening star., 1922-04-29

lines that cannot be adversely af-
fected by motor competition.
'The fourth factor" continued Mr..
Babsun. that 10 causing the rail-
services they are performing for
nothing. or without adequate return.
The terminal charge should be much
more than 1t now is. There should
be different rules regarding the load
ing and unloading of cars. The car
!, checking of trunks is absurd. 1 was
examining railroad property in the
south a few weeks ago. In a morn
ing's ride I noticed that the baggage
man handled but one trunk during
the entire trip. That baggageman
were several other trainmen who
could have cared for this trunk yet
because the Interstate Commerce
Commission required that baggage
man be employed on that train, he
had to make. the trip. The railroads
course. they should render service:
but they should be paid for that
service by the people to whom it is
Decline Due Management.
"In conclusion Mr.. Babson brought
out the fifth reason that railroad
securities have continued to decline
due to the management. The rail-
roads were built by civil engineers.
These engineers have gradually work.
ed up until they have become the op-
orators. They are honest, hard-work-
Ing. intelligent men. but they are
trained for engineers and not for mer-
chants. Now a banker might eff
GENTLY operate the railroad If he
would live on 1t and give 1t his atten-
tion. but banker cannot success
fully operate a railroad in the south
or west from an office chair in New
matter Of merchandising. The con-
struction period Of railroading is gone
by. There is no more reason why a
civil engineer should run a railroad
today than that he should run the
Woolworth business or the Sears
q commodity like steel. cotton or fruit
The railroads should be run by men
who are natural merchants, men who
were well trained to get business,
render service and operate a business
at a profit.
great merchandising propositions, look
ing to their territories instead of to
Washing on. looting TO their customers
instead Of to politicians and labor lead
ers. endeavoring to please their Gus
toners and serve them as merchant
then the railroads will regain their lost
prestige. The railroads bear the same
relation to the prosperity Of the coun-
try as mans arteries and veins bear
to his body: thus a business cannot be
prosperous for any length of time unless
the railroad that Is serving 1t Is also
prosperous.
Rails Suffer From Precedent.
1.-THE railroads are suffering today
from precedent. The operators, en-
ployes and the Interstate Commerce
Commission are ali doing things be-
cause their predecessors did them.
While conditions remain the same,
precedent is a good guide to follow
However, when conditions change,
precedent becomes a most dangerous
guide to follow. Investors are fast COM
ing to this conclusion. The railroad
president Of the future will be a great
merchant and the railroad employees Of
the future will be trained in salesman
ship and service. Then the railroads
will come back. and the railroad securi-
ties will again return to the high place
which they deserve
Despite the recent stock market
activity. general business continues the
sidewise movement 1t has been follow
ing since last December. The index