The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-01-21

~ lover
dividend Of eight per cent 100000 capital than
was actually engaged in the busness) profit OF $165 600
per year. or Of during the Of the lease
IN justice 70 the Union Ferry Company he would state
that II was their avowed intentions II they obtained re-
newa Of the leases, TO reduce the fare half
after the first OF May but this would be obligatory on
them If the Legislature were willing to be satisfied with
promises that could not be enforced they might accept
this What the citizens Of Broeklyn wanted was nro
lection against imposition for the benefit of monopoiv
OF itself against public policy only be tolerated be-
cause 1t happened TO be in the hands Of men who had
served the public In most satisfactory way, Is far
as the ferry accommodations were concerned He
would not dilate current in the city, that
scheme for uniting all the ferries from Gowanus to
HelIgate under one management, for the purpose OF
forming grand monopoly This bin proposed to reduce
the fares 70 one cent was question OF expediency as
to the mode Of securing the public interest by the
ysnton Of the legislature The bill did provide for
the mode Of accommodation-t did not confnc them TO
steamboats, or row boats and would be very easy for
company to the ferry cent they could reduce
ne No. M M 50 as % bring the thing within the
amendment IN that regard The Legislature in 1885,
The instance Of the Attorney Gene, al took action this
sueect ana by vote OF l26 out CT 12S passed bill pro-
WONG for the reduction OF ferriage and for the ap
pontment Of Commissioners That bill wss withdra wn,
they would grant what asked In ls45 the question
came up again bill Of this kind reported ravorably
Dy the Judiciary Committee, who took the position that
though the franchises were vested in New York. yet they
were public trusts, for the benefit OF the public at large
and that that interest would be subseryed BY the
reduction to the lowest rates Of fare which could
be probably combined with the necessary &C.
commodations. Tho present accommodations Of
these ferries, it was conceded by overy one were far
peror 70 any other ferry accommodations Ia part Of
The world Nevertheless the ferries could be at one
cent eyiceny at profit and therefore clear case was
made out for the Intervention OF the Legislature In 1915
the Legislature passed Law for the appointment of Com
missioners TO license ferries but provons inserted
IN the law on the application OF New York, which were
intended TO make the act cheat and fraud One Va
that no Licenses should be granted which should interfere
with the present rights Of New York-that her charters
should not be nterfered with and another that all the
public powers relating these ferries resumed By
the Legislature. The Commissioners were-cne from OF
sego, and from Washington and another from Albany
county-Meesrs. Cheever, Blake and another. he had
heard Today that or them had died. But the Law Of
1645 st in force Whether the proper duty OF this
committee would be to look into that law and recommend
notifications Of IT, that the doubts and antiquities
should be removed and clear provision for the licensing
Of the ferries be made, with proper and
the lowest practicable rates Of farea these
tiers for the committee 70 consider
the company wade ther usual semi annual dirded Of fear
psr s iwa e same, owhejr $500 900 capital daring the
tme thy ran at one cent Tho fair preeumption, he
thought from the discrepancy between tho capital and the
actua value Of the ferry property that in purchasing
the old leases they purchased what did represent pro
pertg. For instance, they bought from Jacob sharpe
lease Of the Wall street ferry and from Marin Of the Ca
tharne street ferry, and from Hsvemsysr and nden Of
Tbs Couvcrueur and Roosevelt street ferry, noae OF which