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Show HAS SUPER-REGULATIONS FAILED? According to figures recently published in the Railway Age the car shortage this fall has been the worst on record. But what else can be expected? How many farmers, manufacturers manufac-turers or bankers would put their money into the development of a railroad system whose possible earnings were established by a commission com-mission to yield 5 Per cent on a valuation of property arrived at by a government bureau? If the commission errs in its judgement or if bad times overtake the railroads, the stockholders suffer the loss What inducement do such limited earnings offer in camparson to the risks involved in developing a great common carrier? Regulation to prevent dscrimination and otaer uses can not be objected to but regulation which prevents busienss management and legitimate earnings is responsible for bringing our railroads to the state they are in today. Instead of seeing conditions get better we will see'ihem get worse. The annual loss to farmers and industries will become heavier as production increases and railroad devlopment decreases. A grocery store whos earnings were limited by law to such a low figure that it could not afford to buy delivery wagons to serve its customers promptly, is comparable to a national railroad system which is handicapped by political management, making it impossible to serve its customers in as prompt a murner as it world wish to do. j Unless you are willing to invest your money in railroad stock for the purpose of buying equipment and building new lines and receive re-ceive in return a possible 2 to 5 per cent on you investment, clon't kick at the present situation . j Regulation for the protection of the public is one thing regulation regu-lation for the destruction of the railroads another thing. |