New-York tribune., 1922-10-22
freight Jam, Tasting FuH Capacity
Ot Railroads, indicates Larger Profits
,,r;ciaIs Say Volume Of
s, Goods Can Be Further
Enlarged by Increasing
Number or Tons per Car
Near Record Loaiings

year Record LOauAngs
s;ppsrs and Consigriccs TO
Blame for a Large Par,
of Equipment Shortage
yx-.HE stick market suggests in q
3ointed way that the ana a'ogy
H. hasween the energetic move
n,ns Of freight on the American
railrosds in the late summer and fal
= 1000 and the movement now IN
der way can be carried no further
4han the contributing causes and the
,,bvsicaI details Of the two efforts.
= .he third week Of October two
resrs ago more freight was loaded
an steam railroads in this country
.ban at any time in the history Of
modern transportation. That record
AZ a little more than million cars
lasded with revenue freight in sin
lie week may easily be surpassed
sfore the end of the current month.
That the analogy will be confined to
ss features is wish shared by all
nose who have been buying railroad
,sxks at rising prices during recent
seeas. II there we're any reason to
.Iieve that the comparison Of these
80 transportation emergencies could
10 ssrsied further. the decline of 90
ser cent in rail stocks during the two
nssks following the peak Of the 1929
gsght movement would be an annoy
ii snecter. The wish. however, is
s,sonahIe, for it Is logical to assume
isl the goods and materials which
as railroads are straining every nerve
I'd muscle to deliver now are not
:sstined TO assume the character of
.sweIecme, high-priced inventories at
/ 10 end OF a period of imitation.
Tha, was the situation IN 1920. The
-sArosds were using every ayailabie
| 81 add locomotive two years aso TO
airy materials which manufactured
7oaght they needed in "a .lurry to al.
stss appeared 20 be an endless demand
~ goods. We know now that the
tsigh! then carried was destined to
wseh stale market. To-day the
ass.ion is rot whether goods will
zach the market before q fictitious
snaad vsnishes, but whether manu-
brturers will have their supplies re-
lsaishsd in time TO sustain a logical /
gossry from business stagnation.
chmce to Ecrn More
fhe 10000 persons who own rail-
stM stocks will be glad to recognize
IN he present freight movement an
opportunity fer their properties to earn
sonsvssrs near what their capital is
sattsd To- Capacity operation makes
TOY esonomy ia every line of business.
Our nslsportation systems accomplish
Big aiags when confronted by an emer-
gene; threateni, the industrial well
sis soi the country, because their capac-
u is not determined by the number
sars and locomotives in good repair
afsther by an intangible factor that
wki be described by the term elias
ay Just what this meals may be
sstrated by reference to the present
Gscai" freight situation.
The California fruit growers coni-
| ;sin that their crops are rotting be-
aase ears are not available in sufficient
wnters. Steel manufacturers demand
ssre cars TO carry coal and ore and
s.her cavs 20 take away the finished
noduct Grain is being held in the
.lsvaso-s and on the farms, building
msteria.. ar. not being delivered on
ams, and all along the line manufac-
Hsefs and consumers are telling one
saoth,r that the railroads are not
sea1 to the task Figures coming from
authoritative sources every week re-
real an increasing shortage of railroad
ass Al these things are facts, except
10 80 far as the car shortage figures
ns influenced by exaggerated demand
On the part of shippers who put in
sA for three cars in hopes OF being
better able to get the one car they
actually need. But the carriers are by
20 means unequal TO the task, and this
aasensn. can be supported by under
standaSls figures.
ne gtestsst number Of cars loaded
s!h revenue freight in single week
Wai L0ls00 10 the third week Of Oc-
toaer, 1920. In the week ended Oc-
teoer Z, 1929. the last period for which
complete agares are available, loadings
:! ell freight except coal amounted to
aSsb7 cars. A special tally Is being
npt on coal loadings in the present
mefgsncy, the figures being one week
asrsf to date than those on other
uses Of freight. In the week ended
xaoer Il a total of 22o,751 cars were
ssd with coal. Add this to the 77s,-
M.n We get totel only 10000
aH the peak Of 1920. This is assum-
Ymas 'ead!ngs of other freight re-
aaed unchanged.
Elasticity Of System,
A'Sas here we come TO an example OF
sss as sissaieisy of our transp ortation sys-
~ hs.luay executives do not admit
s.ss shslr properties have reached the
s..i ssa o. their freight-carrying capacity,
sspAe the fact that every available
oeihg used. AS the emergency
ssses instructions can be given 20
'sass the number Of tons loaded per
Is. IS. ana this step undoubtedly will he
"a Loading l,015,o00 cars week
vcsoesr, 1920. the railroads were
sdissnug vastly greater tonnage of
sssS,s tran the same number of cars
psas s account for on the present
,s;auaaIu ot losdiro Two years ago
asstssa we're l.. ing an average Of
lssa 'ons 70 the car, and in September,