Daily capital journal. (Salem, Or.) 1903-1919, April 04, 1907, Image 3

Daily capital journal., April 04, 1907, Page 3, Image 3

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Newspaper Page Textft STV DAILY OAnrAL JOURNAL, SALKM, OREGON, THURSDAY, APRIL 4, 1&07. MW'flg-l'llJIUUl' 4.T -'t .f&& & fctR; California Sunshine iii1 in i j'i . i fin every tin of J. A. FOLGER & CO'S. Golden Gate Coffee SOLD ON MERIT J. A. FOLGER & CO.. btGihJ 1050 SAN FRANCISCO IBLIC MUST AID irrimaH Says Rail roads Are Facing a Crisis tSaysMergersWill Be Pre- hated if Government Will Legalize Traffic Distribution grated from New York Tlmos.) I R:cndlcg to a request for a com- liktslvo statement of tlio railroad t of the present agitation ovor cor- try, soma of It of doubtful purpose and somo tho result of mtsdlrectod zeal Inspired by tho national admin istration, and If wo nro ovor going to cxtrlcato tho railroads wo hnvo got to coino out In tho opon nnd tell tho people the railroads sldo of tho matter." Tho objecting friend suggested thnt this might bo done by tho prepa ration of a pamphlet, but Mr. Hnrrl man would have none of that. "Before a pamphlet was oft tho press," ho Bald, "thoro would bo a change In tho situation nnd we would bo put In tho position of trying to explain what ho hnd sold boforo. Tho only thing to do is to roach the pub lic through tho newspapers, and whether or not our attitude mny bo misunderstood by somo pcoplo, wo will gain by every pnrtlclo of moro accurate knowlodgo that wo may b nllo to glvo somobody." Than ho turned to tho roperter: "Take the altuntlon whon this In torstato commorco commission In quiry stnrted. Thoro woro ponding arrangements betwoun sevornl lnrgo corporations nnd foreign capitalists ntJoa rights and their nllogod on xuiatnt upon tho rights of tho ! running Into tho tons of millions &le, Edward II Hnrrlman, who Thoso arrangements woro on vory wcth tho Union I'aclflo-Southorn I fnvorablo tonus. As soon as tho for- system dominate 25,000 jolgnora hoard that tho Intorstnto 'm of the railways of the United i commorco commission v.ns going aft- w, bis explalnrd to tho Tlmeii rtisons underlying tho rocont i of attitude townrd tho public torird the government of tho 'met he r. presents. IssodMngMr Harrlman discuss ai3.ni.rww the elements of niCmtma ilnloiii'j by the rail Wiasl & liMness interests of WK ' i iistunira. In mmli 8u' ! out the discussion ''' af i .nl ixilnt of v1u- ninra i .ii'' than It linu liaun & ' J "H,. mi to thla Hmn U, ien. J . m luuily enougH, nM" h Miman received th ' iu home for the '- ngaged in ox. ' m tluatlng friend 1 n his policy oC 1 "m' maud I ug and iitt to tell the pub- il u.iilh loottail nt Mia w- '" intimate state- 'i.., v f the "franker W '!.!( h bespoke In " p tl- in U'lahlnalnn n .. .1 -' a-'.l .r .. l . . . - ' " " RIUIICHJH 01 '4 ' uroduca. If una. - m rl t ,,i ''tivnrni mmiiiir 1 !" railroads nnd J ' au'liurlty of Btnte " iiifJIuiM thrniiKh 1 find expression ' "haplng the Ra it I -.- l-ev i v,i I I id k ' i. . HuiJ. U . -WJ , IM- - s I Si te " It i f . i C tl-i l1' .ra : i. y -, tt- ,s Vf- . . ru-. - lavlacdown hli iThiiteney whleh 1 "Heratato oo m- l "' one of th re ' remark: ,v xmr way, Mr. ft Tjjm o KvitaIn 'i ' 4 iii the floar of uMonaiiy pausing Lff. rt 1m l.-I. a 14 Srt " wringjB U..i,., n Tali or taa ImnW ,.tl '"'m rf the Pa. --" aiiar tills U L 1" e ea8 loate ju "iiwiiiun we u,th;,.:Ttry,BRtodo I -, , '""Praeni or the he wrt of t, r,n. wTh01U,e Jubllc and ,,,:' uu bother. It Is HUM ... " " ' waiter cau Clr-J.H... .- - "... "r meiHOd. iiwiV1".- . '"tit 7T y whatever bT..r U wt effective ,, "Uaat. to eanlalu s . v 5ral PoWlc. It ,. " Te hrodnr.t . ... ttBllOut thn M. N;e or tho Union Pacific thoy enmo to tho conclusion thnt American corpora tions In general wero In a protty bad way and the negotiations woro brokon off. "Now If thoso arrangements had boon completed It would have ortnb llshed n standard of credit for all good American eaterprluea Umt wanted to raise funds abrund. More over, the iRiportHtitlon of the gli would lmve added four time Its amount to the banking crmllu of the country. All that waa atopiwl, for the time being, by the timidity of foreign capital produced by the Insti tution of the Inquiry." A Xou- Kra In Kullrnndliig. Mr. Harrlman went on to dlacuat whether the railroads are now toeing n. new era in their development, aa dletluct from that which hue gone beforo as was the period of reorgani sation from that of rapid oxpnneiou which preceded It, or that of tremen dous traOlo development whleh ha followed In the laet soven or eight years. "UnqueetlORably that la the ease," ho wild. "And that la the very re sou wJiy I believe It Meeutlal that the railroads and the public should reach a common basis of understand ing. It the railroads are unable to meet the further development of the country, they become fetters for the country's bnalHeee latereais. We een nee the causes of this situation If we go book 18 or SO year In railroad devefopmant. "Qaek of 1SI for a dteade there had beeti a period of rapid construc tion of railroad, the great period of railroad enaction as the country be gau to recover from the effects of thn Civil war. The railroads In that era unquestionably built beyond the abl! ty of the country to support them. Whan a reversion of business came in the oarly nineties, as such things do ooino from time to time, here wa all this railroad construction which there was no corresponding demand. The receivership period was tht lugl oal result. "Then we had tho period of re ceiverships and reorganizations ' whloh was praotloably contemporan eous with the recovery of the coun try from tho depression of 1893. But In that period practically nothing was done by the railroads to antici pate tho future development of the country. They had all they couIJ do holding their own and making two ends meet after what had gono be fore. Now- suddenly the country emerges front the years of business depression Into six or elgnt years of the greatest development It has ever known. Tho railroads have been obliged to crowd Into this period all the new work of providing now facili ties that should have been distribut ed through as many years moro pre ceding. And at tho same time thoy have had to anticipate, so far as pos slblo, futuro development of tho country. "It mntters little for this brondor view of the enso whotlmr wo aro on top of or have passed by tho orost of this present wavo of prosperity Every such tldo hns had its rise and ebb, and one would bo living In a fool's parndlso who didn't tnko that Into consideration In figuring out hla future requirements. Tho Important fact for the railroads Is that tho country is going to keep right on do veloplng through tho next 20 yonrs and tho next 60 yars and the next hundred years and as far nhoad aa we may want to look. And AVo Are Unprepared for It. "Now, how do wo find tho rnll ronds proparod to moot this national development? 1 said n few mlnutos ago thnt thoy hnd boon obliged to crowd Into the Inst six or eight yonr a task of providing fnclHtlts that should hnvo been sprond ovor ten yenrs precodlng. Tho rosult Is thnt thoy have fairly overlapped tho facil ities of the country to bring to them, with economy olther to shipper or railroad, tho goods which aro to bo cnrrled. This Is tho nil-Important point for co-operntlon liotweon tho railroads and tho public, for tho fail ure to handlo tho business economic ally on tho part of tho shipper hns gonornlly boen chnrged up against tho railroads, while tho railroads In abllty to handlo It economically has moant less cffcctlvo service and n tendency to hlghor rntos. "Now, take an oxnmplo. The other wook I wont up to Greton, Mass., wnoro my boy Is going to school. I lived In my car whllo I was thore, and I couldn't holp notic ing conditions In tho station ynrd. Thoro woro threo coal cars nnd ono boxcar on n siding, and unloading tho threo coal cars woro two single horso carts. At ono of tho enrs thoy woro actually screening tho coal as thoy unloadod It. "Now, right on tho othor Bldo of thoso cars thoro was a coal plied. If thnt conl had been unloaded Into tho shod Instead of Into tho carts, tho enrs might have boon moved out on tho road again to carry somobody olso's coal. Hut. no, thoy had to un tracks and movo out somewhoro, it Is necessary, In prnctlco, to move vir tually tho ontlro hundred. Hut If you have the total amount of frolght distributed among fewer enra of larger capacity, or have tho hundred enrs distributed over a groater num ber of tracks, thoro is a proportion ate reduction of tho numbor of enrs that will have to bo moved In ordor to pick out the 20. "You come now ngnlnst tho tint limitations In this matter of terminal facilities. There is only a glvon amount of space uvnllublo on all tho Island of Manhattan thnt you can cover with tracks, nnd we have prac tically reached the limit of carloads on the existing gungo. Right hero the question of motive power comes In. "The freight enro la llko n bridge. The trucks nro tho piers and tho body is the roadway. Now, In mons uro as you lungthun the body to tnko on moro load, you hnvo got to In cronse tho dead weight of tho car to bo able to carry It, nnd every such Increase In iloatl weight moans n do croase in earning enpnclty for tho car or for tho train whon n glvon mo tlvo powor Is nppllod to movo it. It is n mnttor of practical experience thnt If we could go on Increasing tho width of tho cars up to a standard that would bo pormlsstblo on a six foot gunge, or oven a flvo-foot gungo, wo would be able to got n groat deal moro enr capacity for a glvon In crease In dead wolght. "Furthorpiore, wo would gain In tho loading nnd unloading. If, for Instnnco, by Increasing car capacity you put Into, twenty enra freight which hnd previously taken up 30 enrs, you requlro loss terminal track ago for tho handling of tho freight, you nro nblo to got hi on nnd oft with greater speed nnd you hnvo tho other 10 cars out on tho lino earning somothlng In the meantime. Hut right here wo conio up ngnlnst the mutter of motlvo powor, nnd In thnt wo lmve reached tho limit of dovulop mont undor atentn, so long ns tho prosent gungo is employed. H'h the Only Wny Capacity Cuii Hrow "You will boo why this is when you remombor thnt thoro aro throt ways In which an engine can grow to get moro tractive powor. it must elthor be longthoned, ho brondoued, or be inado hlghor. And In all threo directions wo hnvo mndo our unglnoti grow ns fnr as thoy can on tho pres- Hunt standnrd gungo or four foot lond It, a cart at a tlmo, and to tlo I QeiL DJ,i you aV8r r,0 j tno m of one of tho modern frolght Jocomo- tivos? "Well, you probably noticed the swaying back and forth that nacom pa Hied the drive of the pistons. That meant that the centor of gravity had crept up Just about as high as It could go without having the engln- topple over when It got Into action. It told you tlmt we bad gone aa far as we could la building engines up Into the air. Xow If you will think provided by the shippers. Yet It Is R mlnuU, yoil wlu . thtt ur put up to the railroads to Increau obviously a Hmlt In length of llrehox their facilities so ns to elmluate tho yw W,ic, It ,B impound u Are i-unauon. mam wuhi we re iry-f XH bjm. And we have reached ing to do, but you wlM not get any , ,., IlHlf. M. w-ii up throo cars for about throo times as long ns was necessary. On thnt bnBls the service of two cam was lost for the ontlre time that tho throe cars were allowed to remain nt Gre ton. "If you multiply that sort of thing by the number of sidings in all the towns and villages of the country you will see what I meat by taylng that the facilities provided by the rail roads have overlapped the facilities It la truo of every nrttclo that goos Into railroad construction or equip nont. Thcso Increases nro contlnu Ing onus nnd enter oven into tho vory andortaklnga by which tho rnllrondd niek to obtain grater economics of Dporntlon. Thoy hnvo to bo consid ered In the llnnnclug of railroad, ox tension ns well ns In dally opornttan, nnd our oconomlos, whatever thoy nro hnvo got to bo snfllclent to offnot .horn before wo can flguro on any actunl reduction, In tho cost of hand ling tho trntttc." o . . . . .. . Tno clock tloks and tlcka thn tlmo nwny, Shortening up our llvos each day. Bat, drink nnd bo niorry, For somo dny you will ho whore, You can't Hooky Mountain Ten. (Free samples nt Dr. Stone's Btoro.l o Tho Stock Market. Tho Henry Clows flnnuelnl lotter of date Now York, Mnroh 30, htw this: Tho stock market during tho woel: was fverlsh nnd nnrottlod. An lm muiiHr amount, In small lots, of bo ourltluB has boon absorbed by smalt Investment buyers, but tho market nt lnrgo was conspicuously lacking In big pool buying powor. TUIh Is oxplnlned by tho fact that vory heavy lopfloa have, been sustained by provl our holders; confidence In pool opor ntlon has been badly whaUon, besides tho floating supply of capital has boen practically exhausted by tho im mouse offerings of now securities, and lnrgo sums of tho latter are Htlll hanging ovor tho market. During Jnnunry and February nearly $200, 000,000 of flhort-torm rnllrond notes woro offerod. Then ovr $300,000.' motives to get greater trnctlvo power per engine, and could Increase the capacity of our cnrB without dispro portionately Increasing tho dead weight that has to bo drawn In mov ing n glvon train load. Hlectrlc Power nnd Its Advantages. "But porhnps It Is chimerical to think now of rebuilding tho railroads of tho entire country nnd of replacing tho ontlro rnllrond eqttlphiont. If so, what Is the net bxest thing? "Obviously electricity. And 1 be lieve Hint the railroads will have to come to that, not only for the pur pose of getting a largo unit of mo tive power and of distributing It ovor tho tratnlond, but on account of tho fuel proposition. That brings up an other phase of tho existing condi tions. We hnvo to use up fuel to carry our fuel, and there are certain limitations along this line, Jtut as much ns thoro nro In tho mnttur of cor capacity or of motlvo powor, par ticularly whon you consider tho dis tribution of tho coal-producing ro ntons with rsspoct to tho major iwo nuos of trnfllc. "Tho grot, saving resulting from tho uso of electricity Is nppnront, quite nsldo from tho matter of In creasing tho trnctlvo powor and tho tralnlond, but thoro Is this additional consldernton, thnt whon you nro op erating oloctrlcty you nro not losing money whon you atop your trnln. Thnt must not bo lost sight of. Tho trnln makes money when It Is going somowhero, whon it is carrying Bomc thlng thnt somobody wants. When It stops It censes to mnko money nnd becomes a losing proposition bn cuuso It goos right on burning up cona without doing any work. Your electric train whon It atopa Isn't usiiik P ' power, nnu uio nmy nnft , ,.,,. ,.k ... vftriculB rnllpond. fuel waslo Is that Incidental to tho .,, to ,,toolchoU,orH ot rocord nt mntntonnnco of tho system. It All Menus (livntei KvpciiM'. 1 pnr hnvo also had to bo financed. Thoso Include $100,000,000 by St. tho .... i i .,. ., ihn.ii 1'nul. ovor $00,000,000 by thIngH In dotnll to show you. first thnt Northern N1- 1'J00,000,, the rallroadB In handling tho In- ,Norl nv,Bt- 'Cn'00rt0,0 v,y "j0"1 eromed volume of trnfllc under pres- Northern. $70,000,000 by New York tho Now York & New Hnvon. Ho out condltous, or anything npproxl mating thorn, must do It nt nn over inoronslng ratio of expense thnt will tend somo day to become prohibitive if presont rates are to bo maintained or fair returns renllzod for tliolr Hhnreholderfl, nnd, second, thnt the only rollof whloh can bo obtained through econnmlos of physlcnl opera tion must conio through tho outlu) of ornnrmnuH nmounts of money such nu would bo Involved In a general electrification or n chnugo In gunge. "The railroads nro now develop ing their facilities Just as faat as con dltlons allow. The uoceeslty ot double tracking the transcontinental line is recognised universally, and we are all lengthening ohi slillugj sides thoso heavy nmounts It Is wo! known thnt mnny hlnnkn of uev boudn hold by various syndlcatoi havo lifon held nt llrst hands for months seeking a resting plnco In In vestor's strong boxos. With such a lond as UiIh, roughly vHtlmnled nt $1,000,000,000, and tho buying pow ers so crippled, it Is hardly reason nblo to nnlllclpnto and extravagant upturn In tho market, although (hero Is Justification for n rouHonnblo ad vance In prloos after Hiioh an Im meiiHO rocemilon which linn taken, plare. Why corect conception ot the magnitude of the task until you consider Jnst fnr a little while the problem of ter minal facilities. That is where we have got to have the co-operation of the public more than anywhere else, for we have reached the limit of pro viding terminal facilities as the pres ent development goes. Why 4i Wider fiungu In XmmIimI. "Tuku the Island ot Manhattan for an Illustration. The ability of the railroads to render service Is abso lutely dependent upon the matter of So there yon are. If we Increase our car capacity we Increase the un productive dead weight that Is to b drawn disproportionately to the In crease of the load, and In so doing we are making demands upon tractive power that has already reached the II mil of Its development under pres ent conditions. The obvious relief then would We by widening the gunge to six feet, and I am not sure thai Die railroads will not come to that la the eiul. "If the country after the CHvll war terminal facilities. And those are j had adopted the six-foot guage that conditioned, not upon the length of some of the railroads In the south the yards, but the number of tracks then employed, or even a live-foot and the capacity of the cars. jguage. we would be In much bolter "For Instance. If you have a hun-1 shape today, for we could increase dred cars on a limited nuwtbr of the height and breadth of our loro- and our spur tracks In anticipation ( Hare a torpid llvnr when Herblne, of the day when we can Joint np tho the only liter regulator will help sections and have two-track roads' you T There Is no reason why you acroes the country. But, do th- best should suffer from Dyspepsia, Con they will, the railroads are face to stlpalloii, Chills nnd I'ever or nuy face with physical conditions, sttcr' liver ooiiihIrIhlb. whan iiai-hinn win as I have described In a small pari,' aire you. I. C. Waits. Weatvllle, which make it Impossible to handle Fta., wrllee. "I wna slok for a month a larger tralile without a constantly with ohllls and fevur, and after tnk Inerenalng ratio of expense. It is apjlng two bottle of Herblne nm well to umm and to the pimple whom they and healthy." Sold by D. J.'Fry. A,at4ft 4fc .IaIa Mnl.i.. auAi.in . ... AM.. ' mmt . w ill MIWW win itivniiB vi inula economical operation If returns are to be continued to tliolr sharehold ers , or rates even maintained on their presetft basis. "But before we go on to that, there Is one other factor of Increased ooat that tho railroads cannot eeeape from, whatever ill Mr economic, and that Is the eost of labor, not only di rectly employ! by them, but enter ing Into every Item of their new con struction, their equipment, or their Improved terminal faeilltlea. "It Is a common saying that a rail road tie costs nothing; It Is only the labor that the tie represents that ooeU money. The same thing might be said for the steel rail without stretchlag the truth, ami relatively 'IHvo-Story IJrleli. Jos. Meyers nnd the Aihoh Strom estate will urost a two-story brick on Itale street, en, the alto of the old Itelner Ash market. It will hare 60 feet front, and make two store rooms Hilton by a Hpldnr. Through blood iKilsonlng oaused by a spider bite, John Washington of Iloaquovllie, Tex., would have lost his log, which became a inaaa or run ning sere, had he not been persuad ed to try Ilurklen's Arnica Valve, lie writ's- "The first application relieved, ami four boxes healed alt the sores." Heals overy sore. 2Se at J. C. Terry's, druggist. e This Week Only $2.75 to $3 AH Silk Umbrellas in Red, Blue, Brown, Green or Plum Colors, with or without fancy Borders SPECIAL PRICE $2.00 ROSTEIN & GREENBAUM CCrMMERCIAL STREET, SALEM