The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1923-09-29
UBLICGONT ROL
Of RAILROADS
FAVORED
New England, Losing Trade by
Poor Transportation, Turns
to Trustee" System.
~ WILLIAM HARD.

BOSTON, Mass, Sept. 29.-Un.
: derneath all the ripples Of day-by.
5 day news, the big wave or storm
) of news in this critical corner of
: the United States is that the whole
Of New England Is going through
business crisis and a transporta-
ton crisis out Of which is emerging
q new, revived New England with
accompaniments perhaps of some
quite radical experiments in pub
: lie governmental operation OF bcsi-
{. ness
Three Interstate Commerce Com
missioners from washington listened
here today to q distinguished local
business parsonage who said that
he would not hesitate to support
the widely suggested plan for APP
pointing public trustees to oper-
ate the proposed consolidation OF
the Boston and Maine railroad and
Hartford railroad In view Of the
success with which two certain
sets of epublic trustees have been
operating the Eastern Massa-
ehusetts street railway and the
Boston elevated
Present private financing and
managing Of the great standard
railroads Of New England is in
collapse and the standard plan for
s reviying those railroads and for
providing New England with q
truly solvent and truly serviceable
transportation system is one which
involves public financing and q
strong prospect Of public managing.
Operated BY Trustees.
Already, for some time, the Bos-
s-ton Elevated and the Eastern Massa-
sschusetts Street railway have been
operated by public trustees APP.
S pointed by the governor Of Massa-
rschusetts; and IN the course OF that
= sort OF, operation they have been
{ rescued from being financially sub
merged. and have been taught to
keep financially swimming and
5 going.
Boston Elevated common Is at
n, while New York, New Haven
: and Hartford common Is at IL.
Eastern Massachusetts preferred Is
6 at 63, while Boston and Maine pre-.
! ferred, class A, Is at 16.
! The New York. New Haven and
! Hartford In the first eight months
) or this year produced a deficit of
more than 81, 100000. The Boston
and Maine is not earning interest
on Its bones.
Now to ssrehabilitate" these rail-
/. roads It Is dominantly here pro-
rosed by numerous leading bankers
and merchants that public local
governmental credit shall be used
! Just as exactly in fact as public
!. local governmental credit and "pubs
lie trustees. were used to rehabil1-
tate,s the Boston local traction sys-
!. TENS.
Makes Eastman Smile.
!. Joseph b. Eastman, Of the Inter
state Commerce Commission, was
smiling with satisfaction today as
be reflected that the public trus-
tee's idea which he had suggested
and supported for the local traction
systems was earning the approval
j. OF local financial interests and was
: developing toward an application to
!: Interstate railroad systems.
Z The New England regional rail-
road consolidation plan, as proposed
( to the Interstate Commerce Com
mission by the majority of the lead
sing epokeemen Of the financial and
commercial interests OF Massachu-
sets and OF Vermont and Connecti-
cut and Rhode Island and part Of
Maine would be denounced from
one end Of the country to the other
as 'sbolshevism" and "sovietism" X
] sc were proposed by Senator Hen
rik Shipstead and Senator Magnus
.sJohnson, on behalf Of the interests
which they represent in the North
west.
It implies the suggestion OF open
!. or covert guarantees Of credit to
the lettering New England stand
ard railways by the public treas
suries OF the six New England
: States.
i: It accordingly implies by neces-
!: :sity the possibility of public trus-
/: tees appointed by those States to
/. watch the welfare of the resulting
!. sconsoidated enterprise in New Eng
gland interstate railroad transpor-
: station.
81 The ultimate picture raised is one
|. of six State public governmental
/. direct intervention in the railroad
/. business as a precedent some day
I for forty-eight State Intervention
s: To prevent that picture from de-