The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-03-03
BROOKLYN FERRY FIGURES.
THE UNION COMPINY's ARGUMENTS
AGAINST SMiLLER FIRES.



Albany st"tcsme" "eri.'nF inside Facts VIZ
Ferry ''c'"re %, th" i"''' .. w.,
''"'""> """ """,
1hc Senate Committee on commerce ana
Navigation met yes'cr,nyat noon IN inc elegant
directors room II the Union Ferry Company in
,h, rui,,, furry lousc iruoklyn To make an
'"' u'"n ''''' -, - 1T
examination. under S'iaofJu'"'s sr'S''uloh'
Of the business ui the corporation. and 10 con-
,,i, ,L, ,r,.,r. relative tn fine u,ensura nov
sui 'lo "I""i7 ~"
before the Legislature Tor rcuuclhE inc iar' lur
foot Messengers To- one cent Large mirrors cx-
., ,,. ali t,,,.,,n e H., r,,,, ,h., ,o,,,,,l
'eiiu "'V '"" '"~." W Wv ''"'' wv '".,''"
ceiling IL decorated in blue and gilt n soft Por
sian CARPET fits the floor French walnut furui-
,rr. - 80, ol,.u, ,h,, r,n,, and III, ,y,Iis or,
,hrc Is 81. "'ou' 'n' ROOM anu 'n' wis are
different times in the history of the company
81 -, 60. ~ s..,,,1 ,h i,, ,,',..,..,'. s,'.,
other directors box Of cGoi.c cigars wal, was
presented to the committee. The Hon. Lorin Il.
Sessions. as chairman oi the committee. pre-
sided. and Mcssrs. Ira Davenport. W. W. Rock
well. Edward Hogan. and James NJ Oakley of
inc comnh''ee Wuhuol' Inv 'hluh rerIy
Company WAS represented by Mr.. Henry f.
pi,r,o,,,, VI, lr,.it,,,. p,rr,. Troos.
ilolr'pon' ''c'-i o. ~ '',r y, a.eus'
urer ana Secretary James HOW y. :. l Htrah-
ahan. Ripley Ropes and Henry c. Murphy. and
nc Nn.srs u n slliu,nn and Annsn / pnrkcr
80 :, =, 49,,
OF counsel Col II. j.. Lansing represented IL
Az nri,,,,i, 81 AZ 1,s,,,h porr,. ,,bioh
a" "'',0''', y, ~. %"7V'" o. I'll y "",'"
was read. rrcited that ne hHd peen connected
with the ferpe for forty-two years. and that for
,lir,,. ,.,,,,. a., hol I'm, ,,, L,,,v. a,,J hoon
.nn,y ,enrs ne ma, Nr', 'nu oooNs an" .,' oern
familarwiih the financial affairs oi the COM
pany. The managing directors had caused n
careful examination OF the receipts oi the cnu-
IL to Feb 2G both days included Wash:
inGon birthday cNcluIedl, ana hhd lounI
that If the proposed reduction were carried
company of S2I9l9'.2o. oi Whlch s2st.Z?1.Zo
would be- lost on foot p,nssengcrs. and sjs 40 ON
continue thu operation Of The ferries ON r.ceipts
mus ann nishrd anu taxing ~ u t'st tn ne re-
ceipts anu cHpcns'S OF inc 'ohpa,N, eN,,luslNe
Of dividend. for the year ending May l,
is,a'o thsie woulH De in nihma, loss ol
ki3',3fst 90. II the reduction were mnie.
Taking the receipts and expenses for the other
years namcu below. We hsS Wnulu ns rs ini.
lows; Year .ndlhE May L. ho'e, slSo.n-itI
year ending Nay |. ls,5. :SSosl.iO; yoar md
ing May 1871. s93.u42; year ending May l.
1873 slsl.9l7G3; year rnding 1872, tlll.
If there should hc a dividend Of ten per cent. iOr
each year. the loss hy the proposed rates IT fare
would be: 1872. s2il .A2l 1873. s2sl 81 1861:
1874 sll3.042; 1876. S23s,92i.72: 1917. s23s.-
3is.76. Tho present surplus fund IL an ac,u-
mutation Of twenty seven years. averaging less
than s2O, 100 year and such surplus il liable TO
diminution If not extinction 10y reason of de-
probation or loss OF boats. docks. buildings. or
damages from collisions involving loss OF prop
srty and injury to persons
Mr.. Perry. ON being sworn. gave the history
of the ferries from the time the business was
The Union Ferry Company took its name in
1851. aud in 1858 all Of tie ferries were conso,
dated under the COMPANY which had capital
of s2l0OOO The dividends from 1851 10 1860
were per cont. which was continued up TO
May /. 1860 on Nov. /. l!ssGo. the dividend was
increased to 10 per cent. The restriction on the
dividend was made 10 prevent speculation. and
10 secure the stockholders against loss 10y estab-
the company wns increased in 1853 To s6sl 800.
IN 1854 10 100000. and IN 1865 TO ~ ,cuU.OOO.
Mr.. Perry submitted "A statement of tho COM
SurIu- the from lSDD 10 lSII.
both inclusive. showing an increase Of gross
surplus from 81 1906 in 800 to s62s 1861 in
1871. and an increas" Ot net surplus from
I'll 04t.72 in 800 TO s525.2No31 N ls17i
particular Explanation of the growth Il the
surplus. The counsel for the company de-
mnndrd written questions. saying that there
at as hey haa shoTm by WHAT tha
result Of the proposed reduction would be. the
onus rested on the other side. Col lansing
Insisted on immediate answers. and sad that
he did not desire to put his questions in writing
for those Keen men to m,Hg a., $4,000,
lures for imprqyine the buildings on each side
ehe rorr na y h as n a. ,e Sa, 81
week chosen as u test OF the one-ccnt system.
9nd made the receipts sslOb!6 nnd III" eNpcn-
Tbe total recens NJ th y ays ms
ts' Welo ~. ~ Wy ," ~, mn "a 49, Ill un
ca SAN ~, in se loss 10 'y p W ds IA
t3.2oo.o5 or an nNfrnge lpSs ~ s2-0;lo np
Ie, az XII MA ,i hi -, rndu. fars t ~,
.ss1hd vehicles were passed there would be loss Of
slt'ilo2' 90 T. ,o-o 1850 - , .
.o1 o no LAnslhE IN into YOU were payihE
soo'uuO rent. anu you were gsulnE TWO ceh's
passeng9r ana wer payin1e 20 "a a 'qh ior coal
anu you nau sur pius , 81 an io.t you
WIZ Svs'anS SruI TN ~, "a Az T,re svuns
gers laying 20 lVh l p coai anu yst '9ui
suIpius was so-i'VOv' iieasc oNpi"'n '"e u'i'
iesHncpe oi,,o,h a n.o,od ,n,a % .0s,r,,
fs,ty sun 'In' ,, ~ e 70 ans ,
~ H. u ,'' p" 49, IT, ia ~ ~, ~
lion ~ exnnnses the in.rrns.o Of reneints lie
@ r. tu ia, 81 wv" pautet'S "a u.l'i "
i =, a. sp, d ' ".,i !,
aitl ~ .i'e su piuS, uu ~ T1
Muuiu NC s"'s'"V'oiii' ans"eieu IL icuuVou u
Wins. or,. 4; ,s-, a h,i, ,,o ,,o hoo,s
a., h H. Yuii phi-> IN yum t"o ,ros ovass W.,
ac an Il @ o, Nv - - 20. wv
oacn; ny snn,n sewn non's o. ", a, uo ~