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THE NAiJSi-J i-WT, FSEEFOBV, M. T. FBIDAT, DECEMBER 1, ltl«
8E
NEW POLICY NEEDED ! IN GOVERNMENT RAILWAY CONTROL
Helpfuliisss and Encouragement Urged iiy Alfred P. Tiiom ^
CREDIT MUST BE IMPBOVED
Ineeaasa ef Transportation Facilities Nt)CA».Ary to Secure Relief From"* Migh Cost of Living May Thus Bel Providad For by the Railroads. !
Wflnhlnntem, Neiv '2."^,—.\ new peilie-v i e.f »?OTeriinieiil rallnmel re-irtiliitloii fl neti on e-emstrue-tlve prlneliiles (if helpfulness illld eneoiirnj-'eiiieiit Inste-iid -of upon prlnciple.s of reprenslon and piinlshnieiit, was urRee! liy Alfre-el P, Theim, e-oiin.sel feir the Hallwiiy Kxe-i-u- tlTeB' Advlse>ry (.Vorumltfe-e, the Hrst
wlrneB.s on helialf of tlie- niilroHdn lie fore the Newlniiiis Joint Cdinniltte-e on Interstate f'-oniniere-e. wlil.-li lia« lii.sti tilted a general Inquiry liit.i the proli Jenjs of railroad regulation,
¦"^t Is propeised by tlie Joint res()l'' lion of f.'onKre«8." nald Mr, Tliom. "fo (CO Into a e-oinprelieii.slve study of the ¦whole subject of Iransportatloa, t« makea new nHnessment. nfter 2H years of cxperlnie-nt, of Itn hl.-etory. Ifp pres¬ ent conditions and Its future nee.ls. The rallronds ne-.-ept tbe view that re-p Illation Ik a perninneiit iiiid .e-ndiirlii;: |.art of Bdvernin. Ill In /\iiieri(-a ami • hat the fli-Kt duty of the- i-nrrle-rs is to the publl(-, Thnt duty Is to afford reasonable fae-llllli-s on reiiseii:iil)l(' terms and nt re-n,-<iiiialile rates, nnd tlii- mnst be ilone before any private Inter •-sts ran be (-oiisldereMl,"
Certainty, Safety and Sufficiency,
Mr, Thdin (-onteiided that tin- n-iil In terest of the piiMU- Is In lieini; iis-iiiri-il of eertaliity, snfi-ty nnel siilUchiK-y of iransportatlon fae-lllttes, rather thun In rnte.s. The llr.st e-oiislderntlon of the pntillr Is to obtain transportiitlon fiii-lll ties. What the (-ost Is, Is in i-(-<iIity n se-eond eonslderatioii. he said,
Mr. Thom proposed an Incre-ase- of iransportntlon fii(-ililles ns a inetho.l ,-if see-iirlnK- relief from the hii;li .-nst (if Hrlnf,-, "The-re have bee-ii Ir-ss tl'iiii 1.0(10 miles of new ni Hroad emistnict i-el In the- iriilte-el Stiites diirliii,' tin- pa,st .Mior." he said, -'-less thnn In any y.-iir ,-^ine-e ISIS, i-xcepi the pi-rio-l of tli- f'iTlI War, and yi-t the i-usl of livini: i,s dally advaili-ilijr owiliy In » sli.irt,-];;.- nf siip7>lles wlili-h iiii^'ht In- n-iiii-dii-.l by seeiirliiK ai-(-ess tn new ;u-i-n,'< of pro diie-tlon.
Credit Must Be Improved,
"This lends to the- (•onside-nilion ns to whether railroad e-re-dit is ns piorl ns the pulillc Interest reiiiiire-s. It is im | fKiftfilble for rallronds lo (-iirii (-iionixh i lo wipply till- neee-ssary ne-w fn(-llili(-s frotn (-urrenl revcmic, Th(-y nmst be ] (irovlded from cn-illt, Invi-stors iiiii- ; . not be i-e>ere-e-(l, hut must be- atlnii-leil," ;
Anieiiif: llie eoiielitions afTi-e-tjiii,' rail- I rond creelit whie-h dete-r Invest.irs he ineBtlon(-d tli(- foll.iwin:,':
"First, UnilriKiil ri-veiiiics ore not e-eintreilled by liivi-slors, but are lived I and liinit(-(l by f.'(iv(-riitiient:il pulhority ': tind not b.T on(- but by sevi-rnl -j^ i\erii- > iiie-nUil niithoriti(-s, which do not h-i-.il: ; nine resjioiisibjlity for ii-^siin-il results I lo investors iiiid nn- iini-onrilimiti-d. j
"fieeond, Unllnuiils (-niiiiot (-ontrol j and the -:"reriini(-ut cannot nnd elm-s i not limit the expe-nse- iii-i-oiint. -
'*l''hlrd. Tbe pn-se-nt s,\st('iii of n-uil | latlein Is b,-is(-(1 on a polii-y of r(-u'iilntiiiii | and e-(iri-e.-tion and not on a i>ii!i(-y of | helpfulness and eni-niii niii-iiK-nl, ,}
"Fourth, Till- milstnndiii;; nlilimilioiis , of the rnilrii.-ids hiMe- iili-endy ex(-e-eiled j lhe- finnneial rule- eif s,-if(-ty and Involve a dlspreipeirtidiinli- am.mnt of obliiia | fiOTis bi-,-ii-inu' lixi-el (-Ii-ir-.-(-s, I
"Ii^iflh, TIk- investor must n.-(-(-pt ii \ subordiiiiile dblisalioii nr si-cm-ily witli j no assiirnni-e of a siirplii.-i) of (-nrniii-,:s i lo support It. !
"Sixth, other compe-litive- llne-s of in M'stmeiit pie-se-iit supe-rlor attrnclions, .
"Seventh. The- rnlli'dail business Is ' largely controlled by isilitli-al Instead i of tenshiess (-onside-ratioiis.
Look Forward, Not BacU
"We may debate about whit has <-iinsed the pre-se-nt conditimis," said ,\f r. Thom, "but we (-aiinot debnti- about whnt the people neinl. The rresident tias taken the rlew that we must look for-nrard In this matter and 'mnke a fresh assevisment of cln-iimsliini-e-s' In onler to deal helpfully and luti-lliireiit- ly with the proble-ni. .\biise« are no more prevalent In the railroad busl ness today than in any ollu-r bu.siness liumanely e-onducted. The pn-iit iiues¬ tion now Is whether the exlstliii: sys tem at reRulntlon rIvi-s the pnblie re liable ftssurance eif siinie-le-iu present and future rallrond fa(-llitles,
"Those who oppose nny (hiinee musl make their nppe-al t.n the Krouml that the piesent systems assure the publi- of the e-eiiitlnued adeiium-y of tuiiis liortatlon fae-llltle.s. if (liey do not. no • rKument bns.-d on the de-sli-nblliiy eif Ihe present dual system of leiriilation ivUl lie a.-i-epte-d by publie- .|iiel;,'meiit. The eiiie-stliin of 'states' rli,'hts' Is nol '¦iivolTe-d, If the i-i-i:iiliitlon of transpor¬ tation l'ii(illtle,< prlvule-ly owned should fat! Koveriinii-nt owm-ishlp must fol low. and then all power of the stntea over "fhe i-iiilroiels would di,sap|ij-ar,
"I.ct us debate this (luesilon, then, inH up,ill any mere tlie-eiry or Jealousy ns to till- illiiUibiitlnii of i;overiimeiital |M)wer. but iipoii fhe lari:e Issue of what the imblU- Interest reipilrea lu rc,s-pe<-t of tbo assurance of ade«]uate iraBsportatlon servico."
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COAL IS HIGH and THEY SAY IT MAY GO HIGHER
The Answer is—Burn SOCONY KEROSENE
A gallon of SOCONY Kerosene costs from 10 to 15 cents. Burned in a Perfection Smokeless Oil Heater, it will provide ten hours of clean, odorless heat—more than enough to warm comfortably any ordinary room. There's small comfort in 10 or 15 cents worth of coal these days.
* * * *
A Perfection Oil Heater is on when you want it and off when you don't.
But the furnace keeps right on merrily burning up tlie dollars whether you want it or not!
Yoil can't put it out with a turn of the wrist— as you can a Perfection Oil Heater.
You can't light it in a jiffy if there comes a cold snap—as you can a Perfection Oil Heater.
The Perfection is solid, substantial, self-respecting—it doesn't smoke, smell or get out of order—or dirty up the house with ashes. It is as inexpensive to buy as it is to use.
* A A * p
SOCONY heat is clean heat. See that your dealer delivers SOCONY Kerosene and you won't have any trouble with your lamps, stoves and heaters.
SOCONY Kerosene is the trademarked name of the Standard Oil Company of New York's best grade of refined oil. See that you get Socony and no other. Look for the SOCONY Sign at your grocer's.
STANDARD OIL COMPANY of N. Y.
(Principal Offices)
NEW YORK ALBANY BUFFALO BOSTON
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