Show DUTIES ES OF RAILROAD RAI George J Gould Outlines Some of Them in Interview New York Sept 12 George J T Gould who returned from abroad yesterday Indulged says Herald In h some pertinent comments regarding the tho duty dub which a great railway system s of the west ivest has las contrasted with the consider consideration it should give to holders of its securities These views were given givon when Mr Gould was speaking of a plan recently announced for exchanging the Wabash debenture B bonds on which the system has been unable to pay Interest for new securities The bondholders have been making de tie demands demands mands for payments of or interest for a acar year car owing to Increased earnings s which for the last few years have ha va been b en devoted to improving the system We Ve cannot keep the Wabash ruil rail railroad road in proper condition said Mr Gould and at the th same time make any payment on the debentures The railroad owes a t duty to the public fully as much as it does to its security nold ers erSt and the latter certainly recognize this fact as an established principle le in making their investments Wa Wt cant let the run down to the detri deh detriment 1 ment mont of or the shipping interest of or ship shippers porn pers j We cant ignore the demands demand i of the public for or proper transportation facilities facilities ties and it Is our duty to provide thorn thom There Is urgent necessity for tor jouble double tracking from St Louis to Chicago and other points We cant sell sen bonds to do dv this work woric owing to the debenture iron nort gage gase and the only way aly for us to ac accomplish accomplish C It in existing circumstances is to carry carryon on the building out of sur stir surplus surplus plus earnings I So the Wabash railroad cannot be properly maintained m unless we adopt a aplan aplan aplan plan for the exchange of the debenture bonds as now proposed und r which the bondholders are to get new 4 per percent percent percent cent consolidated bonds and Lud preferred pr I and common stock I hope hop plan will go through as it is to the best in interest interest n terest of the tho bondholders I im am the largest individual holder r of debenture bonds and intend to deposit mine In exchange for new securities s Whether the proposition will be carried out now rests solely with the bondholders Mr lIr Gould expressed pleasure Dl asure at an arrangement made with the Lake Lako Erie road freight terminals for tor the thc Wabash at Pa Par The Vanderbilt V Interests he lie said have treated us well wen in this mat matter matten ter ten and met us in the tho most friendly spirit |