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Show I j. J. MITCHELL WANTS I U. S. TO KEEP RAILROADS H' CHICAGO, Nov. 30. John J. Hf ' Mitchell, president ot the Illinois H Trust and Savings bank and a dl- M rector o nfour railroad boards, am- H; ong thctn tho Pennsylvania, has bH v reached tlio conclusion that govern H ment ownership or operation of rail- v' roads furnishes tho only adequato s Kolutlon ot tho railroad and utilities H 'situation as it now extats( Ho said B yesterday in substance: m " "Events which hnvo transpired M clncc tho period of tho war have led BBSSBV' B mo to completely change my views HBH1 '; toward governmental control or own m crsblp of,daiIroads and transporta- H tlon utilities. I was opposed to such H a proposition in the' beginning, but H " now believe that the salvation of the H"- ralroads lies In governmental eon H rtEVERftlON MEANS CHAOS H,"' "A reversion of tho properties to H-, the original owners weald mean a Ht kind ot chaos and'' inability to meet H( conditions of labor, railroad credit, v and rates, and tho 'people as a whole ( H ' will stand moro from the govern)' H , ment or' municipality than they will H from private owners ot transporta- H-. tlon properties. H' "Under present conditions it would . Via y moan almost bankruptcy for a num- H ber of lines to be given back to their H" original owners. Their credit has H'i been destroyed.' Under the heavy M t expenses which they are now oper-H';' oper-H';' v atlng they would not -bo able to bor-' H row money and they would not be H? ableto maintain rates or cause a re H;- adjustment of wages, without serl H,i u dlfDcultlcs. Tbeso things the gov- Hl crnment oaji do. I ; v SPECIAL WORK UNDONE r .Hf. ', "Tf roads .have, spent million Jn LE " L I , establishing agencies not only In this country but In different countries abroad. They havo built up good will, mado their roads kown, and established es-tablished avenues ot traffic. All theso results havo bcen dissipated through liio prcsont government con trol, which has completely changed tho courso ot traffic and undone nil tho special werk by which each road established Its Identity aud earning power i ''Tho government with its credit behind tho properties could borrow money at 4 per cent, against tho 'present chargo ot C per cent. The 'government alone can regulate wages wag-es and ralso or lower rates in accordance ac-cordance with what it may deem fair dealing. The roads tried for years to advance rates to a point adequate to meet increasing ' expenses, but unable to do so, and only the taking over of the properties last year and" the government's increase in freight ana passenger rates saved the roads' from bankruptcy. nullified sherman act j "The government has substantially substantial-ly nullified the Sherman law and through its pooling arrangements, or what amounts to tho same thing, can save expenditures that tho private coropratlons could not under exist-ing exist-ing laws. Tho government can economize econ-omize in the use of terminals, the routing of freight and passengers, and secure the best economic results' If thoso who direct the policies ana witling and competent to do so. Private Pri-vate owners could not do theso things. "In the end, it expenses' run beyond be-yond lncomo after guaranteeing bona Interest and reasonable return inv off t.-)iir u tilitl n f '' "' to Investors In the properties, appropriations appro-priations can be made to meet the deficits and the excess charges be raised through taxes. In this way the well to do carry the burden in-stead in-stead of it being distributed among tho small taxpayers. There Is in the air a spirit bred by the war and special spe-cial events In Europe that cannot bo Ignored and it points toward government gov-ernment and municipal ownoishlp or control. "In Chicago If the people want a C cent faro thcro Is only one courso open and that is for the city to take the properties nnd ralso in general taxation tho $2,000,000 or $3,000,-000 $3,000,-000 nccchnary to provldo for tho increased in-creased wages and operating costs over and nbovo tho appraised valtio of tho properties and a fair return on private Investments "This view of tho railroad situation situa-tion you will find is general among tho conservative railroad interests of the west. We have alt been obliged to change our opinions because ot changed conditions." McADOO MAY GIVE VIEWS Atlanta, da., Nov. 30. -William G. McAdoo, director of railroads, in' timated today that he Is considering making 'a public statement of his views on the question of government ownership of railroads and other "I have wanted," ho said, '"to got all the practical experience possible before making up my mind as to just what is tho most advantageous thing to be done. When I am ready with my conclusions I may have something to say as to what I consider the most feaslblo solution." Informed or the action ot St. Louis railroad men In pledging $2,000 aJ month to keep him on, the job as director di-rector of railroad, Mr McAdoo said: "I'm glad somebody appreciates my financial condition." ' i The reconstruction period should have no terrors for the United States , Secretary McAdoo said in an address at a dliner given by the Atlanta Clearing House association. Mr. McAdoo said thore was no need to become frightened by talk of the spread of Bolshevism to this coun-. coun-. try. All war agencies should be continued con-tinued for the present, ho said, and I financial Interests should hold themselves them-selves In readiness to assist In reconstruction re-construction financing. "If we keep our heads and labor with tho same spirit that has ant mated us In the 'war against auto-cracy," auto-cracy," Mr. McAdoo said, "the reconstruction recon-struction period need have no terrors ter-rors for us." |