New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-05-17
THE CITY RAILROADS.

CAPITAL INVESTED. AMOUNT OF DEBT, TAX PER
ANNUM, MILES OF SINGLE TRACK, WITH BRiEF
SURVEY OF THEIR OBSERVATION-DISCLOSURES OF
RESTRICTIVE LEGISLATION.
To the Editor OF The Tribune.
SIR: The city railroads have received from the
Legislature certain franchises specified in their respective
charters They have the undoubted night, alike with
all corporations created by the state to protect
and defend these rights in the courts But aside from
what may be technically termed their chartered rights
these roads have, than almost any other class OF
corporations certain PECULIAR equitable claims TO comfy
or friendship as between them and the people They are
brit for the benefit OF the people and cannot change
any legislative restriction however burdensomc, without
selfdcstructOn This, manufactures and many other
corporations do. These street railroads nave
direct agency in the business and commerce
OF q great city, just as all steam
roads directly advance the wealth and power
OF both city and State Their thorough. clean, and cour
teous administration underes much Of the comfort and
social welfare OF the city, while without any cessation or
rest night and day and the day OF rest Tor man ana
beast they bear the TO and from all social ana
religious assemhages This great agency nures directly
to the benefit OF the middle and poorer classes These
roads are the comfort and prosperity OF the mechanic
the laborer and the artisan Of this metropolis
inst what steam and electricity to the press and the
merchant all the country
There arc sixteen companies. which cover almost
the whole Island of Manhattan with their extensive in
terlacing network Of iron track.
Loqitdi,lal Thrdave. Fourth and Mad
Xh Central Psrs Norn and East Ryer Read
Lara-Foty second and Grand street Ferry Blceekerst
cSri.'opSer entha Horton wsS ard ravc mia
Battery within IT. The four inesTsnG - ard
ST. the one hundred and. twenty Nth St Road.
The official reports show the eos; and equipment OF all
these roads Uhs includes the replacement two or three
times of WORKOUT track to be over S23oOO,OOO the
bonded and floating debt about 1000 the entire
single track over 17j miles; they are using nearly
1900 horses and 5000 men motive power they use
nearly 400 cars and during the last fiscal year have
transported (every ride being counted as one) the i'm
mcnse number OF IS, 100000 passengers
AT this point II may said these official reports do not
represent the OF these roads that their stocks
have watered at least onehird that the entire
cost and equipment do not exceed Sl5,0OOO0O II may
also be asserted that part of this bonded indebtedness
s held by some of the principal stockholders OF these
roads and purchased, rs many steam railway bonds
have been at So TO- and 80 cents the dollar Grant
all this the sake OF argument IL is but fair IN any
inquiry into these roads 10 look at the present status OF
the original and projectors, and from this point OF
view 10 consider tine relations OF all the stockholders 10
the public.
The Eighth Avenue road which has been running about
% years laying down its fourth course OF track
upon parts great has been the wear Of all kinds
of wagons and drays upon 1t outside OF It's own cars Ihe
average age of the longitudinal roads is at least 20
years II only IL has required the reayng OF nearly
an the track second, and OF 1t a third time. II
il has in this period duplicated the cost of the track,
making it, instead OF 17 miles equal to the cost OF Silt
gle track OF $50 miles This and the and tear Of
The rolling stock 10 be taken into the account III any
correct estimate % the cost ac e1ment ~ Woud ne
large Increment in bringing the cost TO the limit OIL the
II is fact ,ra not more than orehalf, II more than
onehird Of the STOCK OF these roads Is now nd ny ,e
o oa Of 9 has be- sold to other owners It
mar or the ghet market value IT, then these roads
are restricted taxed by virtue OF any city or state ee
ieaion under the plea that CT them The present
earnings pay large dividend on the original cost OF the
STOCK are not the owners who nave purchased IL az
higher present market value, thereby subjected 70 an
Injustice admissible in any other corporations OF te
gfael Would this principle hold for moment with re-
gard any bank or insurance company IN the STAT
The interest OF the funded and hoatlng debt OF these
cash market yaue of the aggregate OF these
stocts About tnree-ffhs OF all this stock pays
fair dividend The other two-hfths pays no
dividend. 1t has not pad any since The roads
were built and The stock could not be sold In the market
for above IS 10 so cents the dollar: That so many
roads are required in the increasing intercourse Oh
great city is pra ace evidence Of their importance to
the people These statistics indicate their intimate vital
relation to it, business and prosperity. .,,.o, o..
The grant by the Legislature OF these franchises 70
hud and operate railroads through the streets OF tue
city confers special PRIVILEGES and imposes spe9 ra
dulles be performed for The benefit OF TIE pu9e ine
viii OF the Government in giving this hight IS dominant
paramount and the common rights OF the ehsn
This special privilege includes not only what IL conferred
eyurtsa terms, but also all
propr exercise Of these powers All inconsistent STAT
MES and CITY ordinances this extent repealed The
General Railroad act also makes II highly penal TO OBJ
conferred the duty also imposed 10 provide and main
tain a. all times prompt aud regular passage Tor tne
nnbic To insure this the adoption of the sno" -poW anu
machines affords. 1t Ii alleged the only known
means by which the newyfalen snow can DC emciehty
and promptly removed from the tracks
The franchises granted compel these roads 10 lay sae
tracks 10 keep them in good running order 10 guard
ever switch night and day for protection against delay
ar danger Ia e and limb The nature OF these rgid re-
nnbes
IN remoye created either by accident or tine
remeuls II sudden food L. was away the street
and undermine the track no cue would deny the oDigi
non of the company repair the unsafe Track IN te
case of fall OF there must exist tue same oDHg's
non 10 rc,noye and "a connBe the regular transit oi
ears for the acco niiIodaou Of the public The Only
on,snu is How shall be done II 1t cannot by the
snow-nlOw and sweeper. and these companies are 10 be
compeled employ force OF labofers and men twice ~
lare Is that ordinarily required Ia operate the rOsr 10
shovel the snow into carts and dump INTO the
rivers then during the Winter they are virtually
oinpeiled by the city 10 clean the stnes on
Ia remove the snow by Tins process womb be
nrac;Ic.l,y impossible X would Interrupt uc entire
busuess OF the city for week every considerable az!
Of snow II would incacrabie !"ss IA al lie nn
ffJu l;ercsIs-a loss IN ne money, ana SOCIAL cuii"t
WIN wnic the Inconvenience VI ridges or snow thi"wn
mn NJ the sle walks bear couparson All tlic
innrovcd swecers provided or should e .iih
uprns nu the side the mtish. Three aprons Az"
ever narrow tho street .fcrtasily sisfd bon "weF
u .ntluws AMI Fs!rwak. - -
Ase i0rk, Avn ~ loso.