861.77/1648: Telegram
The President of the Technical Board (Stevens) to the Secretary of State
[Received August 8—2:15 a.m.]
Financial results of July operations Chinese Eastern are the best since normal times year 1914. Receipts real money exceed expenditures 500,000 gold roubles. In addition received 46,000,000 roubles paper money which has practically little value at present. Receipts as stated are purely commercial excluding military transport and company freight. The heavy business will not keep up next two [Page 706] or three months, but the present showing is an index of what might be accomplished under proper arrangements. With assured shipping tonnage, proper banking and business interests [at] Vladivostok, and the opening of the Trans-Baikal gateway, the railway, even with reduction in tariffs, should be made financial success, especially if the necessary measures economy operations could be accomplished. In connection with this there are some so-called Russian laws which are not laws at all but which are regulations made by former ministers seriously increasing expenses railways, most of such regulations being nonsense. They should be abrogated or at least be left optional with whoever undertakes to manage in case an arrangement is made.