The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-12-06

them at work again, quite independent
of the snow. This is because the
Manhattan electric power is likely to
be found inadequate long before the
winter is over. Already, it has trans
PRED the management has discover
ed that it's current is not powerful
enough to move the trains and heat
them, too. Only the other day this
fact was made public by the manage
ment itself when complaints of cold
cars were entered by many half-froz-
en- passengers.
1t was urged, in eXtenuation, that
the traffic has increased much faster
than was expected. In addition, 1t
was said that no Improvement would
be possible for at least a year and
half, that time being needed to build
and install sufficient additional boilers,
engines and dynamos to produce the
needed extra current. If the road is
in this condition now, at the begin
ming of the season, with its traffic
increasing by leaps and bounds,
there is plenty of reason to fear that
the current will be inadequate to haul
ell it's trains long before additional
power can be obtained.
There will be some relief, of course,
when the subway is opened, but that
will not come before April l at the
earliest. This is the date now assign
ed for the running of trains open to
the public, but there are many who
fear that it will be months later than
that Judging from the past, this
fear is likely to be justified, for a year
ago the subway management promis-
ed trains by this Christmas.
Experts are agreed that the relief
offered by the Subway will be only
temporary at the best, and that within
a very few years both underground
and overhead roads will be crowded
to the limit. In fine the transporta-
ton problem on Manhattan Island
seems quite insolvable.
More subways will be built, of
course, but for a generation, at least
say those who have studied the prob
lem most profoundly, the demand for
new traffic facilities will quite outrun
the limit of possibility in construc-
ton. New York'S revenue is sufficient
to make the expenditure of millions
for greater transportation facilities
possible, but 1t would require an i'm
mediate outlay of at least 800, 900
besides the outlay now authorized to
keep abreast of the demand.
New York banker" is a synonym
Tor bnTeWuTeSS anu uHdilCldl dCuineh.
Therefore there is sharp point in
this story. 1t concerns a large num-
Der of the big banks of New York.
In justice to the banks, it must be
said clearly that they are not RESPONSE
BILE for circulating the story.
About year ago a certain corpor-
alton of national magnitude and in
huence and reputation calculated that
1t could enrich itself greatly by spend
ing $10.000,000 on certain vast i'm
provements, such as embankments,
bridges and new tracks. The corpor-
alton did not wish to issue bonds: be-
sides, it had $10,000.O00 on deposit in
various banks. which 1t could just as
we'll use as not. thus saving an enor-
nous sum in interest.
But the corporation, owing to the
financial mysteries which enshroud
corporations, also calculated that it
would never do TO take out that &c.,
900. 900, and leave no bank balance.
Indeed. fits chief men agreed that IL
the company spent $l00O0,00O II
would be absolutely necessary for its
credit that Il should have a balance
even greater than that. II was de-
cided that there should be a bank ball
ance Of S20.OO0.OOO not ut all for use,