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Show RAILROADS PROSPEROUS. The railroads of the United States have done an enormous amount of business busi-ness during the past year, their total net income being more than $1,000,000,-000, $1,000,000,-000, which is ono-third more than the total of 1913, the former record year. Tho war in Europe is responsible to a very considerable extent for the prosperity pros-perity of the railways and probably saved somo of them from serious financial finan-cial difficulties. There has been a constantly increasing amount of interference inter-ference with the operation of the roads both upon the part of the, federal government gov-ernment and the state commissions and tho question of government ownership has been very generally discussed both in and out of congress. The presidents and board chairmen of the various great systems have been ready to throw up their hands for several years past, realizing real-izing that they could not successfully ; operate the 'properties in their charge under the adverse conditions imposed : by federal and state officials who knew i little and cared less about the actual condition of the roads and the amount i of earnings necessary for their upkeep, to say nothing of interest on the money j invested. ( a Eailroad regulation is all right, even ' those who- control the great systems freely admitting the fact. But regulation regula-tion should be intelligent, consistent and fair, and should be confined to the federal government. If this be done the roads will be able to escape bankruptcy bank-ruptcy and also be able to furnish the investing public with Securities certain to furnish an income. We are glad the railroads are sharing in the general prosperity of the country and their big net income for the present year does not inspire us with the feeling that the time is opportune to take another whack at them just for luck. Perhaps, like all of the other enterprises of the country, they will need all the strength they possess when normal conditions return. |