OCR Text |
Show ELECTRIC LINES FAVOR SERVICE AT COST PLAN ATLANTIC CITY, Oct. 13 The service at cost plan of operating electric railroads was Btrongly endorsed en-dorsed at the American Electric Kail-way Kail-way convention here Tuesda by Philip Phil-ip H. Gadscn of Philadelphia. Mr. I ladven was a member of the federal lectric railioads commission, which recently reported to President ViUon hat In the service at tost plan it ound a possible solution of the cha-jlic cha-jlic electric railway situation Credit restoration, declared by the commission commis-sion to bo vital to the future of the industry, would be greatly helped by uloptlon of the service at cost plan, he declared. "Restored credit is absolutely nec-essary nec-essary to successful operation oi electric railway lines," said the speaker. speak-er. "Proof that the service at cost plan restorea the credit of electric railroads rail-roads is shown best, perhaps, hy the sales records of securities of the Cleveland Street Railway company during the war. When securities in other cities, oporating under othei than the service at cost plan, were virtually unmarketable, the Cleveland securities found a ready sale at around par |