Show RAILROADS RAILROADS RAILROAD'S PAID FAIR fAI PROfiT IN 1 Ul Oldham However Say y War Has Brought About About Dire Conditions I I WASHINGTON Oct 22 i Cross examInation exam exam- of ot John E. E c hm who spoke am I f for the Investment In Bankers Bankers' association I at the Interstate tomm domm Commerce commission hearing today on the application of the Eastern railroads for tor higher freight rate rate- rate developed testimony that the rate of or In Interest Interest In- In t. t terest on charges of the railroad had ed d' d dropped during 1913 t to 44 from an average a of for tor the tho teny rl preceding preceding ing and that the average dividend Tate rate rte for 1913 1213 was 68 48 as against t a s. enc teny year ten ar average of ot 64 In Tn examination of ot figures ur s presented b by byj y j t lt Oldham Louis D. D Brandeis the commissions commission's corn com cm missions mission's counsel dr drew w the conclusion that the amount of ot capital required by bT the r rods roads ds to o earn er a dollar dola on a years year's yrs operation had decreased In 1813 Mr Oldham Insisted however that the fallIng falling fall fall- Ing Interest charge did not idl Indicate te the rate roads had borrowed mon mon money y at a- a a lower Under examination by Clifford Theme Thome Coun counsel el for tor several e crl shippers shippers' organizations organizations tom it I was as developed elop d that the decline In net Income of ot the railroads had been fractional and that the road roads had been maintained at a higher level durn than thap during previous years T Mr Ir Oldham agreed agree that it would seem eem to Indicate the rod roads Vere were malting making maing larger nt t He Ha n revenues revenue He contended ho however ever that the they should have ha the Increase without without without with with- out delay dely He said ald that while bankers were In complete accord with the time commissions commission's com corn missions mission's sU suggestion In the previous pre rat rate rated d decision that tha t b by more careful mn be ment and certain reforms the roads could Increase their revenue revenues the Euro European war wor had hd brought about dire conditions which made It dangerous to aw await lt the working out of such uch luch reforms When Mr Jr Oldham left lef the witness stand it was announced that the hankers bankers had hart finished or offering testimony W. W C. C Maxwell general benell traffic manager maTer of ot the the Wabash railroad took the stand to offer oter statistics to show shaw de decreased e earnings for o 1913 and 1914 |