The news-democrat. (Providence, R.I.) 1906-1909, 1906-08-18
TUNNEL OWNERSHIP.


estimates before proceeding further with the tun-
mel project The fact that the particular plan
favored by Marsden J. Perry is the one involving
the greater cost is not OF such Importance as are
some other considerations that present themselves
in connection with this enterprise.
President Perry informed the committee yes
terday that before holds another meeting he viii
submit in writing the traction companys PROPOSE
ton 1t is well, of course to learn what the trac
ton company wants before entering upon the ex
ecution of this project; but it should be distinctly
understood at the outset that it is not the wishe:
of the traction corporation but the interests of the
people that must dictate the final decision.
President Perry is represented as still holding
the position that il his traction company pays fol-
the tunnel in rent it should have permanent and ex
elusive ownership of it, This, however he regard:
only detail for later consideration.
The public does not and will not so view it
On the contrary the question of ownership, imme-
date and ultimate is, in the belief of the people OF
Providence not mere detail to be settled at some
time in the future but question of paramount inn
portance, to be decided at once.
That question must be settled before dollar
is borrowed shovelful OF earth is turned, and it
must be settled right which means that the tunnel
must be built by the city and remain permanently
the property of the city 1t will be leased to the
traction company at a reasonable rental, sun,
sufficient to pay interest the bonds and create
a sinking fund with which TO take up the bonds at
their maturity
This is plain business proposition and no at
tempt TO obscure it by specious arguments that if
the railroad company pays for the tunnel in rent it
should own it absolutely, will be successful. If the
city its credit to put million dollars or less
into the construction of a tunnel it should be as a
permanent investment, no less than as benefit to
the people of the East Side who are seeking safer
better and more rapid means of communication.
Marsden J. Perry when he erected the Union
Trust building no doubt regarded the enterprise
purely from the money-making point of view
Should his tenants seek TO induce him to agree tc
turn it over to them when the amount they paid in
rent equalled the cost of the property, he would
unhesitatngly declare the proposition preposterous
and absurd ...-......... D..
So it would be. Yet it is proposition equally
preposterous and absurd he presents to the city
when he demands that after his traction company
has paid in rent an amount equal 10 the interest
and principal of the bonds, the East Side tunnel
shall pass to its permanent and exclusive owner
ship
The tunnel ought to be and will be, if it is
built, valuable asset of the municipality, yielding
good yearly revenue from reasonable rent
charged the traction company for its use.
1t is characteristic of Perry to plan such a
tunnel grab as is contemplated in the one-sided
proposal he has made verbally to the approach
committee. The fact that he pretends to regard the
ownership question mere detail to be settled
later on, creates the suspicion that in this matter
he is manoeuvrng to commit the city 10 his scheme
when he can catch its representatives off their
guard
The crafty manipulation that resulted in the
passage of the franchise law under Which the
Perry corporation claims the exclusive and per
petua right to occupy public thoroughiares, ought
to serve as warning TO both the approach COM
mittee and the city council to be alert and vgiant
in safeguarding the people against the further
plunderng at the hands of a corporation that has
already seized about everything worth having
within the municipal limits
There is but one course that will meet the ap-
proval of the citizens-the building OF tunnel by
the city to be owned by the city and leased to the
traction company.
Any action looking toward ultimate ownership
by the Perry railway corporation will bring swif,
and sure punishment and reputation upon those
responsible for IT,