Evening star., 1930-12-15

portation act stands now, it is the duty
of the Interstate Commerce Commits
sion so to adjust rates as to enable
the carriers to earn a fair return on
the value Of property used for trans
portatton purposes. Even in years of
heavy traffic the contemplated fair re-
turn has not been earned by all. This
year, with traffic down and competi-
ton keener than ever before, It will
probably not be earned by many major
transportation systems. The situation
one which Congress can hardly
ignore"
With their increasing army of stock
holders" advises the Topeka Daily
Capital, the railroads are certain Of q
hearing. They will insist on reg
ulation of waterways, canals, oil and
gas companies, busses and trucks cor
responding to regulation which is i'm
posed on railroads. The only stipula-
ton that may be raised to such pro-
gram Is that regulation of other trans
portation should be such as is appro-
pirate in each case and as Is first of
all Ia the public interest. Excessive or
strangllng regulation is not desirable
eltner Tor railroads or for other public
The matter is viewed with caution bv
the Lincoln State Journal, which COM
ments on the present campaign for inn
proVement OF conditions while the
economic position of the railroads is
OF Importance to all inland points
where there is much bulk freight to be
moved long distances by rail, the his
TORY OF the decline OF the railroads In
power Is even more significant. Other
combinations of interests have made
Iner threat and have been curbed.
FOLK who used to get excited over the
power OF the railroads have long since
SoughC other interests to become ex-
Government are ready and able to meet
any present or future threat, Just as
they nave defeated those of the past"
X X 4
ANY one who has watched the trend
OF railroad earnings as reported on the
nnanclal pages in recent months" ad-
VlSeS tne Chicago Daily Tribune. will
oe disposed to agree with the railroad
men that they are in need of relief
ana any one aware of the Importance
In our economic structure of the un-
DERIVING securities of the railroads will
see the need for restoring the railroads
credn. The end will not be achieved
Dy haraSSing other forms of transnor-
tation, but by relieving the railroads of
their burden of excessive regulation.
That Is the good which the railroad
executives should aim at"
Forty years ago." recalls the Raleiph
News and Observer, ''the railroads were
united in opposition to any regulation.
They said they owned the roads and
the trains and had right to run them
as they pleased and charge what they
pleased. In spite of their opposition.
regulatory laws were enacted hy State
and National governments. Today the
railroads, suffering from bus and truck
competition, are demanding that the
same strict regulation applicable to
railroads shall be enacted as to other
transportation agencies. They were
wrong 40 years ago; they are right
now"
An order by the Interstate Commerce
Commission to the Pennsylvania Co,
a incorporating subsidiary owned by
the Pennsylvania road" to divest itself
OF stock of the Wabash and Lehigh VAL
ley roads, is pointed to by the Pitts
burgh Post-Gazette as based on the
antitrust law, and that paper believes
that "the move will afford a test of the
power of the commission to put through
its railroad consolidation plan" The
Post Gazette adds: "In reference to
the railroad problem, the President in
his recent message said that further
legislation is necessary to facilitate the
proposed consolidation. In view of
various considerations, it would seem
that some progress might be expected
before long toward the railroad rroup-
ing that has for so long been discussed