OCR Text |
Show M'ADOO PLANS FOR ROADS. Will Restrict Expenditures to Absolute Essentials Under War Conditions. Washington. The first act of Director Direc-tor General McAdoo after 1'resident Wilson signed the railroad bill, which provides a $500,000,000 revolving fund and prescribed a basis of compensation compensa-tion to the owners during federal operation, op-eration, was to issue an order restricting restrict-ing railroads' capital expenditures to extension and betterments absolutely essential under war conditions. Inasmuch Inas-much as the government has now undertaken un-dertaken largely the financing of ini-irovements ini-irovements and purchase of new equipment, the order will serve as a safeguard to the big working fund. |