Show Big Bargains in Securities Result From Railway Event I II II I I Increase in Rates Rate Means Meas Benefit to Entire Country Countr I Says Investment Expert Eert N I I I rIt H 42 q 8 By R. R Titan Tilton Investment Department J. J A. A Hogle Co T. T TO 0 THE railroads of or the United States this nation naton owes 1 its is great advance and progress I The vast area of this tills country country square miles mies I of of territory within its is natural boundaries coast coat to coast coast coast- has been made mada accessible and placed under Intensified development develop clop ment meat b by a a. population of ot people In the tho shortest period of or time ever witnessed in the history history his his- tor tory or of the world worl The he United States of or America I one hundred and four forty years ctrl old old old-an old old-an an in infant In- In taut fant among the world nations nations- yet ct it the foremost rank ranI rankIn In power enlightenment and In In- In AH AU these astounding developments develop develop- ments have been made male possible through the tho man man-ma man made o arteries of commerce and communication which we know Inow as our our railroads Two lw hundred and nd fifty thousand miles nilles mies of steel rails Join the Pacific Pacific Pa Pa- chic and Atlantic coasts and the remotest points of our interior this tillS railroad Important as great industry Is to our national welfare welfare wel wel- fare rare the requests and requirements requirements require require- ments of or these thee roads for the last t twenty years have havo o la been received with wih deaf cars ear b by our national la law So it Is th that t we wc find nd the dollar dolar value lue o of our railroad securities has sadly fallen falen to unheard un un- heard of levels IC for tor so important a factor In our national lf life and progress The Tho great greit re t Inefficiency and in inability inability in- in ab ability 1 t of or our railroad systems to meet neet Ilc l. l the requirements r of com corn merce Industry and a growing population figure largely in the present high prices for or 01 ties les This 18 1 is true because delayed shipment or as 39 we are arc want to say tay congested congested traffic slows down tho the industrial plant which is dependent for tor or its fuel and raw material l pon regular shipment forces the merchant to pay exorbitant prices at nt wholesale for tor stores store of or goods which his customers demand demand de do- mand inand and which he has haH failed to tol l receive c through delayed shipments This higher cost to the merchant must be borne born finally b by the consumer con con- sumer RUmer hence higher prices It I I hi I needless to enumerate further In Instance instances In- In stances stance of the reaching far far effect the inefficiency or inability of or ort a ai t transportation system has on the tho ther r economic life of a rL nation Accordingly It may possibly be bo said that the public does not fully tuly Grasp the tue Importance an and magnitude magnitude magni magni- tude of or the recent raise in railroad railroad rail rail- road rates and ami wages ran ran-I It I is most moat imperative that our be hc reinstated to the hl high h credit standard they enjoyed In tho the earlier earler years ears of ot our national it I Is IA equal equally Imperative that the railroad employees have e every cry Inducement to display tho the greatest efficiency for tho the next many months in overcoming o the decay and disorder Into which the railroad systems of ot this country have ha been thrown during the world war Walt under unter government co con con- con It will vill wi rapidly h be appreciated on overy every hand that this action acton of or our national railroad rate making body has been boen a n masterful stroke The Tho rate makers maker have havo placed pled their thelt finger on the tho most vulnerable point In Americas America's present difficulties dUn for tor with the free tree current of commerce every state and in individual individual In in- ant dl Is secured d and benefited Great benefits benefit arc are not realized without sacrifice Sacrifice In Inthis Inthis Inthis this instance is 18 tho the present additional additional addi addi- tonal bur burden en placed upon the shipper manufacturer and producer producer producer pro pro- ducer through Increased freight rates and to the consumer of ot this years year's production who vho after all al is 18 the one ono who must meet the total coats of or commodities Tho continued scarcity of Inv in investment investment In- In v vestment capital and tho the long depression de do- pr slon in all al railroad securities pending this rate rato increase Incese places before the tho Investor of toda today veritable vent vent- able bargains In securities Practically all railroad bonds and many of or tho the stocks are arc now In a guaranteed position |