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Show VI u Are Not Justified in Asking an Increase in Freight fates Washington, Jan. 19. "No controversy contro-versy ever existed before when tho stike between opposing parties was so hugo as this one, measured -by the cold standard of dollars and cents," . Clifford Thorns, counsel for the Meat Producers' Association of the Middle West, today thus characterized character-ized the inquiry before the Interstate Commerce commission Into the proposed pro-posed advance of lrelght rates. "Shippers and consumers want to see tho railroad companies grow and prosper," he declared. "We are willing will-ing to be liberal In tho truest sense, but the charges exacted by the roads must be reasonable. If you permit a slight Increase, in either official classification territory or in Westr ern Trunk Line territory, two results will follow: "The existing schedule of rates will be adopted and a reasonable scale, without having been Investigated and the present capitalization of 'he railroad rail-road companies will be accepted as representing their true value." He said that in JJie last ten years, the average inarkoTSprlce of commodities commod-ities had increased about 11 per com, while the average market prices of forty 'transnortnUoiiafrlcgmuanies increased in-creased 10 FoTwfflcTT'Ke treld-to treld-to be a remarkable demonstration that the railroad business had been profitable. profit-able. 'I have compiled tho figures representing repre-senting the net earnings of American railways during the last 20 years." said Mr. Thorny "and after subtracting subtract-ing all operating expenses and all taxes. I find that for the year ending end-ing June 30, 1909, the American railways rail-ways had a net income amounting to $7Q,000,000 greater than ever before In their entire history. I find that the net earnings of Americun railroads rail-roads have not only increased in gross, but they have increased for every train hauled one mile and for every mile of railroad." As a result of his investigations, Mr. Thome made these three assertions: asser-tions: "First The credit of railroad companies com-panies is as good or better than ony other class of public service or industrial indus-trial companies in tho United States. "Second Railroad securities are more attractive to actual investors and have Increased in value more rapidly rap-idly the last decade than any other class. "Third These earnings of our railroads, rail-roads, above all operating expenses and all taxes, have been increasing steadily the last 20 years and last year was the most prosperous year in tho history of the American railways. rail-ways. "In this case, if you deny tho right to a general advance, you know and I know, that the prosperity of these companies is bound to keep on increasing." |