Other arrangements of freight rates which have grown out of the needs entailed by the production and marketing of certain of the principal articles entering into commerce we shall designate as the Commodity Rate Structures.
(End of Chapter VI.)
[THE FREIGHT RATE PRIMER]
Adapted from the Illustrated Pamphlet, So Entitled.
Issued by the New York Central and Hudson River Railroad Company.
The A. B. C. of the Matter.
"There has been much wild talk as to the extent of the over-capitalization of our railroads. The census reports on the commercial value of the railroads of the country, together with the reports made to the Interstate Commerce Commission by the railroads on their cost of construction, tend to show that, as a whole, the railroad property of the country is worth as much as the securities representing it, and that, in the consensus of opinion of investors, the total value of stock and bonds is greater than their total face value, notwithstanding the 'water' that has been injected in particular places. The huge value of terminals, the immense expenditures in recent years in double-tracking and improving grades, roadbeds and structures, have brought the total investments to a point where the opinion that the real value is greater than the face value is probably true."
(From President Roosevelt's Decoration-Day address at Indianapolis, May 30, 1907.)