OCR Text |
Show DEMANDING CONSERVATISM. Charles A. Moore, head of big manufactories man-ufactories producing machinery .and supplies for railroads, has eent out a circular to the press, In which he says: "Investors are afraid. They believe that public hostility is still strong against railroads and they fear that there will be legislative restrictions and' administrative activity in state and nation hlch may increase expenditures, expen-ditures, reduce revenues and thus tend to Impair interest and dividends. Holders Hol-ders of capital can be reassured as to future legislation if those immediately Interested will allow it to be known that they desire conservatllsm. "Appeals which many citizens are making by letter to federal and state officials ask that every measuro for restriction of railroads shall bo carefully care-fully Investigated with a view to ascertaining as-certaining whether a railroad has resources re-sources to meet tho cost and whether there is reasonable certainty that the proposed law will promote and not retard the development of transportation transporta-tion facilities. The movement does not contemplate a relaxed vigilance aa to observance of law by railroads; it does not countenance withdrawal or suspension of remedies for pust grievances; griev-ances; it does not seek on behalf of railroads immunity from the obligation obliga-tion to increase the safety of the traveling trav-eling public. All that is urged is that i railroads, when compelleJ by law to increaso their expenditures, shall be allowed adequate revenues for maintaining main-taining proper operation, a wage scale in accordance with American standards stand-ards of living and dividends sufficient to attract investment the last named to insure the borrowing and hence the constructing power of transportation companies," |