OCR Text |
Show HOLDING BACK INDUSTRIES. Eastern papers are complaining that the threat of restrictive legislation is retarding the industrial lire of the United .States. The Boot and Shoe Recorder says the railroads, as well as other enterprises, find it difficult to secure the money necessary to make such improvements and extend such construction which Is actually needed to fulfill traffic requirements. Not being able to secure sufficient money from the earnings of the roads, and finding it extremely hard to market mar-ket securities, the railroad managers find themselves la peculiar straits, and for this reason they are withholding crders for rolling stock and supplies and have discontinued the laying ot new tracks to extend or Improve their lines. Traveling men who vlstt such cities as Schenectady, Dayton and other places where the principal industries are those engaged in tho production of and equipment for railroads, state that many of these concerns are cither shut down or are running to a very small proportion of their capacity. And what Is conspicuous in these cities, Is none the less real In the larger centers such as New York, Chicago, Chi-cago, Philadelphia and Pittsburg, where the manufacture of railway material, ma-terial, equipment and supplies arc Important Industries. It Is said by those who are in position to know, that of the mllllon-and-a-half men employed em-ployed In these Industries when times are good, between thirty-five and forty five per cent are out of work at the present time. |