Show NUNS NUN'S FAITH IN YANKEE PEOPLE Says English Railroad Methods Methods Methods Meth Meth- Could Not Maintain Maintain- in America NO OVER CAPITALIZATION Great Manager Declares Fed Fed- F Federal ed- ed eral Control I Is Already Being Practiced I New Nets York March eli 21 I T 1 U I II declares that thal the th railroads of f the country are arc not over o that there are ar sufficient Jaws Jaw upon the I I statute tat hooks books to CO l 01 the l railroads I I without further legislation gl that the thc development and not competition compe compe- must he bo the th rule rUlE of o the future that there them probably wilt will wi be he an nut appreciable Cla labIa le contraction on tracton In Improvements In railroad property and even a 0 decrease in the th cost COt of or necessaries of life lre that nn iny ny Idea of or standardizing American railroads with wih English models I Is Im- Im possible arid and that the present statute I growth of oC this co country Is IN due cue to the Imagination and the ben ent of a n capable people These are some ole of the crisp curt and r t comments comment made by b Harriman tonight In discussing Ih the tho railroad situation sit sIt- sl- sl mation In th the States Slates the proposed pro pro- posed lawn law for foJ supervision of the roads In the thC recent panic In Wall Wallstreet Val street UIt and financial circles Air Mr was at tho lie Metropolitan tan an club chub In the great gold cold and white room of or that opt aptly nicknamed millionaire mil mu mi club chub he lie h seemed fairly ul alive wih with aith the thc Intensity of or his hiN convictions n N twisting a ii cigar In his hand IC 1 1 on oil 01 one one edge of a small mal chair with mIth one tnt leg curled up un under him he t talked with wih whiplash sentences Control Already What Ial do you ou I of or Mr Ir Rockefellers Rockefeller's ler's lers statement that there should b be federal control of or the tho railroads wa was man mali the time question asked Uhl Mr r dr There is federal control now tiow no cam came tho curt rejoinder That arm of or the government go to which Is I delegated th power for or supervision tUpI of ot th the th railroad Is I with enormous rN flier rhe or are I laws wl enough on tin tim hook now now-mor AM Mh Al that chut I uit 1 or to hl tt I J Ud t P V i w I Re 1 t l There Isla Lion Is 7 Ito JIO o need fo foDo y Do lo to you Ol think roads nails lodl are arc over over-capi 1 I h Xo No 0 Maid mIr Mr Jr H harriman n and add lr ih thu Iho negative f fairly bounded from mom lom hl l I You Von must remember this In is n mu I wonderful wonder wonder- ful ill co country I n U It I has ban teen been made made made- b by enthusiasm en en- the Imagination Imn ln lol and the tho natural oat nat n ural nm-al 1101 h bent nt of or a n sup superbly capable pee peo- plO plO- hi file Jle They have ho been a i people that thai make rake pioneers Thc They saw SW Into th the flit future and alil adapted their work to the possibilities Jo Take an any roads say the Pennsylvania Pennsyl an vania vania ou In you have luH been rpy 0 over It I. I Un Have P you ever Pr noticed the mIles mile and nn miles of or orbon Abandoned bon tracks tracks' You oti YO will wi see the r II everywhere you go Instead In Instead In- In 0 JO stead you ou will trill wi set see SPI thin the straight lines tile the wonderful Abandoned h s Co I. Co-I. otIn ot tIn t. t In iii counting your capitalization think of or the money that ht bus gone Into th th abandoned lines bridges anti and terminals The They might t be eon considered d a p part of iho timo constructive cost COt and md when you take that In ou will wl hind find that you OU h have vc not O overcapitalized What do you 0 think of the suggestion 1 that English standards be bt followed for American railway organizations Absolutely impossible said satti Mr Ir lint Hul- Hul niman emphatically There is hi not a aln ln single nile le Item upon which the he twain can an meet You can no more measure the tho enormous resources relO capacities antI and energies ener energies cl gies of or the American people than youcan you youcan OU can Cn compare the giant enormous freight cr cars and nd equipment of oC the AmerIcan AmerI- AmerI can roads rOd with wih the thE capacities of or the h equipment of or their roads road How Flow HoW do you OU explain the recent panic In Wall ahL Wal street was asked I must mul h hesitate lat to explain It I fully ald Mr Ir Harriman I 01 suppose It Is isone I on one of those recurrent timings things that hIstory hIs hIs- history his tor tory records One Oie Ole cause mostly the time pr primary primary was th the Japanese Russian mar mary cause I war ar You cannot canneL destroy or oi hide awa away as n much mooney money as aN that conflict did il without with out aLit It being beIng felt el There wore were other causes but that l Is on one rho Tho pr production pro pro- duclon of ot gold and development among other oilier lines will wi make good that dint loss 1099 b but t tIt I It will wi take Luke time Do you OU look forward to a contraction in railroads and lon Look Look- for fat CO Ml Milti ld hi Contraction Yes said Hall Mr 11 Harriman but I would make that statement with Ith a reservation I 1 think It IL I pO possible that In II the m-ar m fu future Il ture there thre will be he a marked not marked not a violent vio yb III wi contraction In th the marked lent but but a volume oilme of business I It I Is I probable p that hat the cost of ot necessaries nece of or life and ln J living will wi cume clune f fall a I contraction You will wi recall of or that In kind 1593 that there ther What do you OU think of or the future of or orth th the railways I think said ald Mr Harriman nn and he hewaN was waN earnest In making ng this statement tIme the future of railroad construction must t IU I anti and not be of or a n development de character must be al allowed allowed al- al railroads hE competitive c The he lowed to make agreements among them themselves them them- selves The They must be allowed to come como to understandings and those hoso agreements could If it 1 1 be bE made under proper I federal supervision to see that the tIme Interests Inter pl ests of ot tho the public were not Jeopardized When hien ho lie made auntIe this remark Mr 11 arll man maim Im continued whimsically whim that If Ie I 1 talked all I dont don't dOlt believe bellet b Iv ni night I could tell tel you ou an any more AS We e have bem brought hr up and the Limo railway managers ate ato 10 pausing to 0 get t their bearings but lut we are ore going to go take lake time but I nm am a areat ahead It I may mar 01 In Its resources re re- re- re believer In this country great reat I 1 and this check sources anti ami anc Its Il people a ld cl will wl not be he bc p permanent |