. Railroad traffic and rates . le somehave been raised, but the low level of local passenger fareson many steam lines is due largely to the fares on electricrailways. Ordinarily the fares of the electric lines are alittle lower than those of the steam lines, and this, togetherwith the more frequent and convenient service, preventsthe latter from freely raising their fares or compels reduc-tions unless the steam roads are willing to sacrifice theirlocal passenger business. The effect of electric competition on fares charged bysteam railroad companies depends upon the policy of thetraffic depart
. Railroad traffic and rates . le somehave been raised, but the low level of local passenger fareson many steam lines is due largely to the fares on electricrailways. Ordinarily the fares of the electric lines are alittle lower than those of the steam lines, and this, togetherwith the more frequent and convenient service, preventsthe latter from freely raising their fares or compels reduc-tions unless the steam roads are willing to sacrifice theirlocal passenger business. The effect of electric competition on fares charged bysteam railroad companies depends upon the policy of thetraffic department. Some steam railroads have for severalreasons reduced fares but slightly, because of the effectwhich reductions of certain local fares would have upon alllocal fares, or because of the above stated belief that theshort-distance passenger business will eventually go to theelectric lines and that it is the least profitable traffic. Theeffect upon the fares of steam railroads is less at presentthan it was some years ago. 244. 245 ELECTRIC AND STEAM RAILROADS (4) In some parts of the United States the effect ofelectric competition has been the consolidation of the elec-tric with steam railroads. This has been the case particu-larly in New England, where the New York, New Haven &Hartford Railroad has by stock ownership, lease, and noteownership obtained the dominant position in the electricrailway business of Rhode Island, Connecticut, and western]\Iassachusetts. Other steam railroads owning or control-ling electric railways are the Boston & Maine, the MissouriPacific, Philadelphia & Reading, Hocking Valley, LongIsland, Southern Pacific, Chicago & Great Western, andDelaware & Hudson. The motive has been partly financialand partly to control the competition of the electric owning or controlling the interurbans operating betweencommon points the earnings from the passenger business,whether on the steam or electric lines, largely inure to thebenefit of the steam railroad,
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