Show MUST RAISE RATES TO MEET EXPENSE LOVETT SAYS ROADS CANNOT BE OPERATED UNDER EXISTING RATES President of U. U P. P Also Declares That Present Method of of Adjusting V Wages Is Unjust and Would Put Ban on Strikes of ot Washington Private Private operation railroads cannot be restored at existIng existing existing exist exist- ing r rates tes Robert Hobert s S. S Lovett president president president dent of ot the Union Pacific railroad told the house interstate commerce committee committee com corn during a discussion on day in which he contended the railroad railroad rail rall- road problem Is solely a question of railroad credit Howard Elliott president of the Northern Pacific another witness witness' urged early adoption of a national I transportation n policy declaring delay only tended to make mak all aU classes uncertain uncertain un un- ua- ua certain and unsettled In adoption of the transportation policy he thought congress congress should observe four principles principles ples plea as follows Government regulatory regulator machinery to encourage the present transportation system so that rates will wUl pay all costs costs' including new capital needed for expansion expansion ex ex- of facilities ab abandonment of present method of adjusting wage and working disputes with substitution of ofa ofa a ua sane method of deciding th these se questions questions questions ques ques- including abolishment ol of strikes modification of the Sherman law to permit consolidations and makIng making mak mak- ing lag of federal authority supreme In regulating rates ates securities and accounts ac ac- ac- ac counts Railroads should have the right to initiate rates Mr 11 Elliott argued ar an- gued adding that the interstate commerce commerce com corn merce commission should have the right of suspension and review V I |