Ogden Standard-Examiner | 1923-11-25 | Page 1 | Roads to Spend 500 Millions in 1924

V I Roads To Spend Millions In 1924 I I For Railways May Reach One Billion BillionI But If Congress Shows Unfriendly Attitude Toward Roads Lines Will Whittle Amounts to Bare Necessities By HARDEN COLFAX Special Correspondent of The Standard Examiner Standard Copyright 1923 W ft V L T M IT T t J A 11 WASHINGTON Nov A 24 railroad buying pro pro- program gram for 1924 involving the expenditure of from fromI to for new equipment I and improvements has been mapped out by leading roads Whether this cum um Is to be spent spent or or whether It Is to be down Hown to bare nece necessities the correspondent Is depends almost wholly up- up up t the e attitude ude of the coming con con- cong con congress g gress eM tho tho first session ot of which coi vone soon soon soon- It ci t arly In de the season that thero ther b no radical ch change Ih railroads go E ad Uh buying plans plan ww U It If congress brings bout about another other rall of uncertainty as t road legislation tb carriers s g will deter dorer purchases un- un until un until til the situation ea and la 10 the oven of or railroad legislation mar abandon In largo measure that of or the program calling for or biti Increases In capital expenditures In such c cent ent ent however It Is III un understood that the carriers carrier will 0 VIti hat I Is yet to b be ac accomplished In carrying out buying program tor the l l l period Most ot of the under the program hae I spent There Ther remained how how- however approximately ever on October 1 lat last unspent and to be carried corrle 1 over Into 19 U Up UI to October 1 the railroad had spent In labout now new equipment and Improve Improvements ments In addition they expended in 1312 BUILD NEW And now to a mon for the railroad are aro desirous of continuing the good work They have demonstrated to own satisfaction the wisdom of the policy under existing legisla legislation tion They are making makinI plans to make heavy purchases of equipment added terminal facilities ties and the tho building of new track ag age But Dut they are hesitant they do not know that the next few months month a holds forth In the way ot legislation Most of all the they ore ot of attempts by congress to tinker with Ith the rate A general reduction would signal It ItIs ItIs Is assorted In high transportation quarters aba abandonment of the Im- Im Improvement Im Improvement provement program Even a reduction lion tion In rate rates on any of such uch as ILl agricultural tural products product would tate ALL Almost every dollar ot of tho 2 being opont I Is borrowed money It has hILI been boen borrowed at fall Interest rates largely because the road roads they claim under pres pres- present present ent tariffs were assured of sufficient to enable them to make and curtailment pay pay- payments payments ments IF those tariffs 00 aro tho railroads claim they cannot be assured of such auch revenues their to borrow will b be handl- handl handl capp Investors will demand on P Page Two RAILROADS TO SPEND MilliONS Continued from tram Page Pago P o One higher Interests and the 1124 1924 pro pro- program pro program gram grain will have havo to be reduced FIGHT IN CONGRESS Present Indications are that there wIlt wUI be a a 0 fight In congress over the tho whole subject of ot transportation As the situation stands today the light fight will center around a reduction In rates rate on agricultural products product Ad- Ad Advocates Ad Advocates of ot such lIuch a reduction are fairly numerous and may put their program Their Baiting attitude was WIlB back of ot the significant state state- statement statement ment Issued recently by the board ot of directors of ot the American Hall flail Hallway way ay association In Now New York In which virtually the entire 1824 1924 pro pro- program pro pro-Igram gram grain was WM dismIssed with the tol- tol fol lowing following sentence It Is 18 too early at this date to anticipate what the total capital expenditures expenditure for tor 1924 will be It Is not too early however to shape a program for tor I 24 to cover expenditures everything except c capital exp expendi I tures turo The Tho samo same statement outlined the program It de dealt lt with loco loco- locomotives loco loco- locomotives locomotives motives and car utilization of car oar ear movement use of joint facilities operation co-operation with lot shippers and kindred go 00 activities