Salt Lake Telegram | 1920-11-22 | Page 18 | New England Roads Seek Relief

WEW t lAND ROADS tK SEEK RELIEF 1 Face Receivership p U Unless less r rh h 1 Given Aid Federal Feder l. l Board Told r WASHINGTON sHI Gro NOV o 22 Unless Unless im- im financial relief is afforded the W EngI England nd railroads all alI or most of ot them will wUI very shorty be driven into er the interstate commerce Commission told today by Charles Charlest r was t 1 F P. C Choate Cloate ate Jr and Wilbur La Roe Jr t l for for the lines c commission was told tod that tho the fil returns to the roads in Septem- Septem and the estimated returns for Ocil Oc- Oc W il iJ i r the increased rates grant- grant the transportation act conf con- con f d that the income received b by bye th e roads was not sufficient to meet their requirements Counsel for the roads said that for tor eight months ending last August 31 p. th tJ the e actual deficit in the net railway rail rall- way way- Operating perating income ot of the roads ex ex- the Boston Doston Albany a part parti i v of of ot th lh Nc New York Central system wasl was l' l i 2367 and that estimates for next 1 year ear showed a net railway operating income of about or le less s than the net railway operating ing Income required b by the transportation i. i tion act to show 6 per cent on on the f fair value alue of the property 4 It was stated that this would be 22 less than the amount required 3 to tu meet fixed charges The book cost 11 of the lines Jines was placed at more than and it was pointed out that j an annual return of 6 per cent on this this' amount would be