Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1897-05-22
LgIPER'S ELEVATOR BILL.
CONTINUED from page A.

to the building industry. the permits
in tSO2 showed a value of $O3.OOO.OOO.
the actual value being considerably
greater. In 1916 the amount was S2S..
OOO.OOO.
Az to each one of these Items this
year Ia a great deal worse than 1896.
TO the weight Of the had times which
we have had since the spiing Of is.e;
has been added the weight this year Of
a most extraordinary prejudice against
everything whici, Involves the use Of
money on n large scale. A capitalist
could barely INlsc his head without get
ting II rafped by newspaper or sosne.
botly else. What wish to argue for Is
the welfare Of the city Of Chicago. and
1 wish, n I could. that might disi'cl
some Of this feeling ngnAnsA the opera
tions Of corporate bOtlies and large
capitalists. E
ChurIcs HenrotAti. Nle next speaker.
said In part:
am In no way Interested financially
In any securities Of any mllrOad CON-
,mnies of Chicago or any other city. but
am engaged In a business the object
of which Is to tleai In che securities Of
that kind Of corporations and others.
In Chicago the aggregate capital enn-
plOyed in the street railway companies
is probably larger than tllat employed
In any other branch Of lrlsdncxs there.
ind naturally IN our dealings We get
more securities Of that kind tluln amy
OTHER.
have been in the business for TWEEN.
fy.hvc years. and In that time I have
never seen II In the condition In which
we find It to-day. Up to this time we
have been receiving money from every
direction Of this country. l myself
have received large sums Of money
from Belgium. France ana England
for investment In Chicago and In the
State Of lllinC!s. They have always.
up to the present time. been very suits.
factory. Lately I have noticed that no
money Il coming: TINT the supply seems
to I've shut on from every quarter. Iu-
stead of receiving any money We have
received back the securities that were
purchased here.
ton In cur city against cal,'tnl. against
corporations. and expressions have
gone abroad tlluh hnve really alarmed
all of these people. and I believe those
expressions have created that distr,,st
that we find In our business to-day.
There Is an absolute lack Of confidence
in our securities to-day. and IL has ere.
uted II tremendous injury to the inter.
tsts Of all men la this State.
I do not know what will cure the evil
but do believe that. inasan,,ch ~ there
Is no existing cause to-day for s,,ctl
distr,,st. some expressions from on,
people different from that which have
he,n given lately will remedy the evil
great deal. I believe that IL u fuii
bill should be passed affecting the rail
way companies Il would rtSlssure In
vestOrs and would give them to un
derstand that their al,,ian was not well
founded.
Mr.. Cu,lahy said In part:
What We want to work for Ii stabll'
lty. We want confidence In business
circles. No far Ms I know about tl.t
street railways they are In the position
Of a tenant ut will. 4 tenant farmer
running from one year to another Il
not apt to spend much money In Inn
prOvenents. because he might have his
rent raised next year because Of I'm
prOvcments made with his own money
I think the lawmakers Of this cOuntr,
should accord fair treatment to all In
terests.
william 4. Coleman said In part:
am in favor Of the Humphrey bill
from the fact that am large owner
OF property located In the suburbs Of
Chicago. know II u proper bin Il
passed here the City Railway Com
pany. the North Side Railway Com
pany and the West Si,lc Railway Com
pany will build extensions to my prop
erty and beyond II. 1t will cause M!
property to be built up. thereby giving
tho city very much larger revenue ant
thereby enabling me to sell my prop
erty. which Is practically valueless to
day. am further In favor OF u prOpe
bill from the fact that the real estate
men Of Chicago IRE burtlened with Tux
~ to-day that they have never had Il
pay before: and we are In worse cOndl
ton to pay them today than We hav'
been before.
General Charles II. Drew said tn
present condition Of business affair
necessltates some relief. He cOntiu
ued:
There II u general lack Of cOnfitlenc
on the part OF capital In Chicago. PEG
pie have money and they want to ge
an income from 1t. but they dare not In
vest It under present conditions. Their
are large enterprises necesstta ting larg
amounts Of money to carry then
through, nOtsbly among the street an
elevated railroads. In order to rails
that mOney confidence must be Great
cd, andVl think that II proper bl
eretassed It would relieve the situa
tlOlvat once. 1t would destOrp conf
tielce ut once. ana that IL what W
want.
II The railroads have arrangement
made whereby large amount Of MOI
ey Is necessary to carry out Improve
ments already undertaken or In col
temptation. II these improvements ~
made, there will he immediate relic
A large number OF people will h" 81.
plOyed ut once. and then cOntilenC
- ~ a