The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-06-19
City Railroads Again.

TO THE EDITOR OF THE NEW YORK HERALD.
Some apparently popularity seeking pennya liner In
morning paper estimating the profits made by tho Sixth
and Eighth Avenue Railroads. carriage of 80 per-
sons day at 100000 year, inquiries why, Is "the
profits made off our citizens entirely by the use Of
the thoroughfares the roads should not belong tho
corporation and the profits go towards diminishing the
public taxes9" He presumes the company pay into the
city treasury only 81 600 year.
Let presume this propounder of queries to be in
the receipt of $780, 900 year profits business and
ask he get that amount Of net returns without the
proportional investment in capital and labor Probably
not, his income comes honestly to his pocket Admit
that these companies do make 500 900 year. What
has preceded that iDcomea An investment BY one COM
pany (the Sixth avenue) certainly Of $780, o0omoney Of
citizensput into the business capital, and expend
ed in the building and equipment of the road and
sary real estate for prosecution of the business Sup
posing the other road to involve like investment and
what does the $1,000 Of profit give but interest Of
less than per cent per annum the capital Of
citizens put to use these roads And put to use in
manner that furnishes unprecedented convenience and
comfort to yriads of citizens In return for this mode
rate interest which one chartably disposed would
cons ider too large at 10 10 instead of per
cent this interest on the Investments of hundreds
OF citizens let what the million of citizens derive
from one st least of these companies From sta stca
facts procured the company organized under the
general rail- law and whose affairs are publicly re-
ported and exhibited appears that this company (ths
Sixth avenue at the expense, for constantly cleaning
and spriukiug streets Of some s. 900 per annum for
pairing about $40 0OO Fifteen thousand sengers day.
taking the aforesaid querst's calculation for data,
about $500 900 year On this number the gain to
citizens Of cents per passenger in fare less than oma
bus fare is $eS $50 license paid into the city
sury not yet xed but equal to that paid per omn
bus of S25 per 100 to be run by these copa
MES adds 81, 500 These sums show positive gain to
citizens Of $sS coo per aDnum contributed by of the
companies-givlng $196 600 per annum by the two
rather larger benefit than the 81, 600 which fills the
vision of the queris While the few hundred citizens
who the roads get moderate prot-not exceeding
fair rate o. interest their capitalize great body Of
citizens and tax payers are gamers in double rate Of
profit to say nothing of comfort saving Of time, i'm
provement in value of up town property and hundred
points Of beI fs conferred by city railroads.
So much for the large profit amounting to simple in
terest made off of citizens reward for the enter
prise that projected the energy contaminated
capital that isked and the labor talent that pro-
secutcs business contributing to public comfort and
interests.
Respecting the corporation working the roads for the
city, 1t might be sufficient to quote the maxim well
proved by experience that what be doue by indvi
dual enterprise had best be undertaken by govern
ments II the activity economy unsee sing vigilance to
the favor OF his customers the public pracsed by
the individual merchant the firm, practised at
Washington in the public depar tments it is well under
stood that half the expense in hal. the time,
would do double the work there performed II under
listing company management ten per sent profit be
neted to the Of city railroads, it Is pretty
tain that under municipal direction, three per cent
would not be left after officials had grabbed
had levied and the public had suffered twelvemonth
series Of evils growing out OF employees selected not
business, but voting qualifications. JUSTICE.