Show RAILROADS FACE CREDIT TROUBLE Gra Gray Tells Club Members 1 Success Depends on Legislation Under grave grave- and perilous conditions wholly without precedent the railroads w will Ill resume their private ownership and operation on 1 with unlimited unlimIted unlimited possibilities for tor prosperity but with a threatening shortage of credit Thus Carl all R. R Gray president of oC tho the Union Pacific sl system tf outlined tho se serious se- se rious problem confronting confronting- the time railroads railroads railroads rail rail- roads In speaking before nearly ro members of or tho the Salt Lake Commercial club yesterday Under tho administration ho hI de declared declared de- de tho the railroads had not nol been advanced td- td ad advanced In to proportion to tho Increased business and a severe shortage oC of equipment nt ha hat haq r rp roads Toads have been beep kept In poor repair and tho the close relation with the shipper which Is one of ot the Ule most vital factors In the success of or privately-owned privately roads has become estranged estran In view of or these conditions and the tho high cost of oC labor and materials the success of the roads said Mr Gray depends entirely upon the legislation now being ein enacted by Congress Should this legislation be Inadequate tho the public public public pub pub- lic w will Ill suffer as the time Individual and state interests are arc Inseparable from Crom those of ot the tho railroad Congressional action to date Mr Gray said has been discouraging ln but hut whatever the conditions all former railroad men would re-enter re tho gamo and as far tar as possible bring tho thus roads up to their time one position as the best system In the Lester D D. D Freed president of or tho the Commercial club extended tho the welcome welcome wel wel- come cemo of or the club to Mr Ir Gray Ho lIo pledged tho support of oC the club to the roads in meeting their now new lems Harden BennIon acting governor of or Utah extended a welcome In behalf of or ortho the tho state pointing out the close relationship relationship rela rela- between the public and tho time roads and declaring declaring- that ever every citizen citi zen was Interested In their future Other guests welcomed b by the clu Included H II M M. M Adams vice fco president of the Union Pacific system In charge of traffic E E. C C. Calvin vice president ent In charge e o of transportation E E. E. E Adams and J J. J if 31 r. r Hall assistants to Mr Ir Orn Cray |