OCR Text |
Show DUNN SAYS ROADS MUST HAVE CAPITAL I CHICAGO. Nov. 7 At least six billion dollars of new capital must be Invested In railroad, facilities within the next three years if the roads are to bomme able to handle adequately the OOUBtry! commerce." Samuel o. Dunn, editor of the Railway Age, estimated In an address here today. The Increase in Invent men t since tftfi Mr. Tunn said, has been CM thn II . -00,000,000. while if the percentage j,nd I been as large In proportion to the growth of traffic as M was during the preceding; ten-vear period, it should have bn $,-000.000.000. $,-000.000.000. Since 181$ freight traffb increased in-creased 67 per cen' and psMngr traffic " per cent, he said, adding that the percentage per-centage Ire each variety of equipment during that time was I per cent and none. The railways during the next thre years should buy at least 800oo freight ears. 20.onn locomotive n:id 10,f0" passenger passen-ger cars, he said. In make up the -xtnt:ng deficiency of equipment, to replace equipment equip-ment which should be retired and to provide pro-vide for handling additional business. |