The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-04-24
BY MORRIS GILBERT
NEA Service Writer

w O4N. AD1 IL Il. n
surgeon-not a ''czar"-is what the
American railroads are getting
under President Roosevelt's plan for
federal co-ordinator.
Much excess weight is likely to
disappear. amid agony and howl
ing. To Danish fatty degeneration
is always painful. Ask any beauti-
clan.
But the hope is that a lean, hardy
convalescent will emerge from
under the governments saw, scalpel
and ether-cone. If Americas rail
transportation system is eventually
able to sit up, take nourishment
and go back to work, the Presidents
purpose will have been achieved.
1t will be a fundamental achieve
ment, too. To find a cure for the
sick railroads has long been among
the top memos on the Presidents
desk.
Is the railroad system chronicalIy
invalid? Why try to cure this dis
agreeable patient? Why not let him
shuttle off his mortal coil in the
horrid SicJoom atmosphere with
which he has surrounded himself
these last few years? Why try to
pump new life into him?
Why not turn to the open road
the motor bus and the long distance
truck with trailer? Or to the
pleasant inland waterways; and the
sea and the air, not to mention the
pipe line?
Rails Largest Carriers
In the first place, the railroads
are far too big to junk. They hold
too large a stake in the national
economy. And they still have i'm
portant uses.
Railroads, don't forget, still fur
nish rs per cent of American trans
portation. Railroads in 1880 carried
freight of total estimated value of
$62, 100000
Railroad service still is bought or
used literally by every American;
either directly, or in buying food,
clothes, gasoline, coal, other essen
tials. America as unit pays the
railroad freight.
Railroads still affect an enormous
number of Americans even more di-
rectly than this. AS workers, for
instance. Wages, which use up half
the railroad revenues, go this year
to about 1000, 900 workers, thus sup
porting a much larger number of
people.
The number of workers employed
has shrunk greatly since 1928, when
the total was around 100000. In
1926 it was 100000.
Buying Power Great
The actual pay roll of the roads
does not begin to fill the quota of
labor directly dependent upon them.
Huge numbers more are employed
furnishing railroad supplies, since
the normal buying power of the
lines is put at between Is and II per
cent of Americas total buying
power.
Railroads in normal times take Is
per cent of the country's bituminous
coal for their own use, 20 per cent
of its oil and timber, II per cent of
its iron and steel.
A million Americans own railroad
bonds, and 100000 own railroad
stocks.
In December, 1882, stocks Of
American railroads listed on the
New York Stock Exchange amount
ed to 9 per cent of the market value
of all stocks listed. On the same
date, railroad bonds amounted to Al
per cent of all bonds listed, exclud-
ing government bonds.
There is another way in which
majority of Americans have a di-
rect, if involuntary, interest in the
plight Of the railroads.
Plight Affects Millions
Fifty million holders of life in
surance policies, and 100000 saw
ings bank depoSitors are concerned,
since these repositories hold one
fourth of TIE total issue of rail Sc
curities.