The New York herald., 1876-02-21
THE STREET CAR DISCUSSION.


REMARKABLE FINANCIAL REPORTS FUNDED
AND FLOATING DEBrs-oBLIGATIoN OF RAIL-
ROAD COMPANIES TO FURNISH sEATs--oPPo-
slTIoS TO LEGISLATIVE INTERFERENCE.
Al inc present moment it Is interesting matter 10
look into the returns presented by city railroad COM
panes TO the State Engineer respecting their financial
condition. and TO examine to what extent the earnings
ana cosi OF operating the lines enable them meet tho
demands Of the public for reasonable accommodation
while travelling on the cars It will not be denied in
any quarter that Investments in such euterpuses ara
deemed OF the safest and most remunoratlve descry-
tion that such stocks command a decided premiurn
in the market There is, moreover, certain kind or
hocus pocus be noticed in doctorng up the bs,ance
shoots that puzzle people Of ordinary discrimna
ton such showing hundreds OF thousands OF dollars
funded and floating debts, upon which heavy inter-
est is represented TO be paid, and for which any
reason for their existence viii be sought Tor
in vain Capital stock is subscribed for
and paid u according TO reports fully equal TO tho
cost OF construction including roadbed, iron, cars.
horses lands buildings, &C. and therO still seems 30
have been debts contracted nearly much the total
outlay for laying down and stocking the roads, for
which nothing be shown. Take, for instance the
Dry Dock and East Broadway line. Tho capital stock
subscribed and paid set down at 81 200 00O, and
the constructing the rcad with all its appur-
tenances 81, lO0 000 This would leave balance OF
800 coo surplus capital stock; but 1t that tho
company Acknowledges debt OF $700, 600, while tho
traffic has always yielded large dividends to the share
holders These figures certainly require some KIND or
explanation II putting the road IN operation cost cost
$500. coo which IL is necessary 10 account for
make up the capital stock alleged to be paid
in, well as the funded and floating deb5r This de-
scripton Of financial management is not confined to
the Dry Dock and East Broadway line. It seems to
exist in other city companies The president of OF
subject He could only account Tor IL by suppoSng
thai there were many heavy expenses connected with
business outside the purchase OF ron horses cars
harness, buildings &c, and which had 10 be met to
seven per cent per annum has TO be paid.
WHAT osslBLEy
The railroad companies have gwen up the argument
that their profits small that they cannot run
any without loss, and II compelled TO do so
a reduction Of the wages of conductors and drivers
must follow. II has beer shown that without any
marked reduction dividends the service could be i'm
proved so as to accommodate the puDichat Is to fur
nish each passenger wtha seat The prelence is now
put forward that the thing is impossible, and that
people will under any circumstances, avail themselves
Of the cars in travelling through the city. The com
panies therefore Insist that the public, accepting
their statements to the insurmountable dimculties
in the way apparently content TO be treated worse
than cattle then matters should be allowed 10 continue
as at present This OF course would be very salts
factory solution the difficulty far the companies
are concerned 1t would also be settlement OF tho
matter entirely at variance with the engagements
embraced in the grants and charters that confer
on them franchises of the greatest value The street
railroad corporations are bound in express terms and
under specified penalties TO run sufficient NUMBER OF
their vehicles to meet the requirements oi pu1hc con
venience and that passengers shall bc iurnished WITHIN
those vehicles With proper accommodation IL VIII not
be said that proper accommodation Is AFFORDED when
three persons forced to occupy the space intended
for one nor can it be questioned that under this sys
inviting held Is opened TO organized bands or
pickpockets prey upon passengers, and off, which ful
advantage is taken and that the system also tends di
recty and unmstakably TO the injury OF health ana
morals II is great mistake 70 suppose taat lne
street car companies free TO put on and keep on
at their good will They are bound, as stated
above cearest terms to keep running sufficient
number OF their vehicles TO meet the wants oi public
travel and when they fail to do So as they now persist
DONG they violate their trust and render themselves
liable TO forfeiture OF their franchises.
oP RElIEF.
gentleman holding an important position In one of
the companios stated to HERALD reporter that 1t IS
out of their power TO provide sufficient number OF
cars the pressure OF travel morning ano even
inc Tbe matter of introducing new description Of
vehicle to accommodate more passengers was sug-
gested, but that Idea like all others having In view
the discharge Of their obligations to the public, was
considered impraccahle, the sole ground that they
would involve expense and lessen dividends. The
gentleman frank, and, taking the ground that no
more could be run no mater how desirous the
conpanies might be TO meet requirements Of their
agreements with the city and State he declared that no
.ofd hat IN cases Of large excursion parties
requiring conveyance cars were easily found and
brought into service in addition TO the regular business
OF the line and that these vehicles are held Tor special
and profitable uses while they should AZ certain hours
every day be kept running, and that there was
no inconvenience stoppages when these large cars
were passing over tho lines, sometimes carrying nun
dreds OF people and it not reasonable TO suppose
that L. now placed on the roads any DISSATISFACTION or
DELAYS would follow while there could be no doubt that
! considerable amount OF additional accommodation
would be furnished, there were objections, he said.
j In the way Conductors and drivers could only DO
employed q few hours each day, and horses would
have to be worked in the same manner According
to this gentleman there remedy for oyercrowd
Ing and the best course he'thought was to let tho
matter alone However, II is well TO have II distinctly
understood that the companies are openly and de-
family dsrcgardng their agreements and that It Will
be found when the Legislature acts in the manner tho
circumstances require that what are sought 10 DO now
made out nsuperablc obstacles will vanish into air
Let the no fare bill be passed and the public
will then see how they Will be properly accom-
modatcd.
THE INJURIES TO A LADY on THIRD AVENUE
cAR-suITs coMMENcED FOR TEN THOUSAND
DOLLARS DAMAGES.
Some TWO weoks since Mrs. Anne r. Cummins, whiIo
riding Third avenue car received serious injuries
by being thrown the street The conductor also
spoko nsultIngy and drove or the car, leaving her
lying in the middle OF Third avenue Details have al
ready appeared in the HERALI. suit has now been
commenced against the Third Avenue Railroad Com
pany by Mrs Cummns The following is copy OF the
complaint which has just been served
In the Superior Court-AUne T. Cummins against the
Third Avenue Railroad Company Tho planlG al
cgcs-l That at the time hereinafter mentioned the
defendants and now corporation, duly ncor
poraod under the laws the State OF New York, and
were the owners Of certain railroad known as The
Third Avenue Railroad with tho tracks.
cars and other appurtcnances thereto belonging,
and common carriers OF passengers thercupon,
the line between the places hereinafter mentioned.
Q That about the 18th LAY OF February, 1876 the
defendants received the plaintiff into OF their
for the purpose OF carrying her thereon aud upon SAID
railroad passenger from the corner OF Canal street
and the Bowcry, the city otNew York. to Eighteenth
street. for the OF five cents paid by said plaintiff
said defendants. That the defendants, not regard
/ ing duty, did not use duo therein; but by the
negligence and improper cordac Of the SAID defendants
and their servants the plaintiff without negligence ON
her part violently thrown from said aud vas
greatly sed. injured and wounded suffered great
pain OF mind and body aud necessarily incurred great