New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-04-18
TAKE THEM JT THEIR UORD.

TAKE THEM JT THEIR UORD.
The declaration of Mr.. Russell Sage. speak
ing for the Manhattan Railway Company that
the terms upon which the Rapid Transit Com
mssonors have agieod t. permit an extension
and multiplication of the elevated reads are
unsatisfactory is not likely to astonish any body
familiar viii the history of that corporation.
Mr.. Sage says that ) per cent of the net re-
ceipts is altogether too large a price to pay for
the privileges which it is proposed TO confer
upon the Manhattan Company, and intimatcs
that this condition must be considerably mOdi
fled before he will consent to accept the Com
missions proposition. As understand Mr..
Sage'S view Of the matter. the company ought
to lay nothing whatsoever to the city unit! 1t
has divided among its stockholders a dividend
of per cent upon it, piOftlsely watered cap
ital after which share or the surplus income
might be surrendered t. the taxpayers with
some semblance OF proprioty. Mr.. Sage doubt
less represents accurately the feelings Of his
associates in the Manhattan management-or
at least what they want the public just now t.
suppose their feelings to be. Yesterday quota
tionS may suggest TO suspicious observers the
thought that pcssibl' some per:0ns were will
stock if they could get it cheap enough. At
all events; it was suddenly knocked down
eleven points in a very hearilcsS manner. II
it should now turn ont that Mr.. sage and his
ass cia.es, upon further en- -idcIa.ion of the
C0mmi, stems terms, were able TO see them IN
a MGR, favorable light and on the whole were
not absolutely opposed t. ACCEPTING them. pro
vidcd. of course. that no better terms could be
obtained and If. in consequence, Manhattan
stock should @ up eleven points. or even
lite higher we suppose that cynic' would say
disagreeabc things. as is their wont.
This of course would be exceedingly pain
ful tc Mr.. Sage and his associates, and there
fore we venture 10 suggest to the Rapid Transit
Ccmmi. sOncrs As an easy and advantageous
way of preventing distressing possibility. that
they withdraw their offer T. the Manhattan
Company at once and offer al auction the fran
chi.cs within their power Of disposal. There is
every r. as n to believe that ample clpia would
respond promptly. and that an indeDendent
company would be organized to build and
operate new elevated reads. IT would OF
course be necessary to change the proposed
routes to scmc extent 50 As 70 establish scpa-
rate system: but that could be done without
much difficulty. The result Of such a change
CT plan would be a strong and salntary COM
Petition With the Manhattan Company and an
assurance Of genuine rapid transit il the ncar
future. Mr. Stcnway has already pointed ont
the practicability Of this course, and we hope
that he will formally recommend it to his COL
leagues at to-days meeting Of the Commission
Mr.. Sage and his associates have been treated
with remarkable not to say excessive. c0nSid-
eIaticn hi,heit,. II is high time that the
claims of the community received solicitous
attention.
The managers of the Manhattan Company
have been accustomed for 50 long time Il do
as they please that they may find it hard T.
believe that they owe anything 10 the public
i'm return for the enormous privileges granted
to them. If 50. there is now an excellent OPP
pcitunity Il cllighten them this subject.
They protest, through Mr.. Sage. that : per
cont Ct their net receipts is an cXOrbitlnt charge
upon the new franchises which hay" been
ttfer,d to them. The Commissioners ought t.
take them at their word and bcstow these
favOrs upon others who will appreciate them
at something Ike their real value.