The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1906-03-13

E1IUy years Is 100 long iOI OliC Aidl-
chise to run He favored a twenty
five year term the franchise to drop
then. The matter Of rails is Of great
Importance and rails different from
those in Dover should be used, for
they simply ruin the street for other
TRAFFIC. Wooden poles are also objec-
ti0nable. Provision for snspending
the wires should be made that will
not disfigure the street. He suggested
that the board take abundant time
and thata definite policy be adopted.
John M. Forbes also spoke for the
Civic Association. Reading from Mr..
Kelsey's remarks to the New Eng
land Society of Orange, showing that
the Public Service lines are capitalized
at S246, 900 per mile Of track. The
Moody Corporation had also submitted
| figures, showing that in the case OF
the Consolidated Traction Co., the
market value of securities against the
100 miles of track was at the rate OF
100000 per mile. Mr.. Forbes also
read from the prospectus issued by
the Morris County Traction 90. which
stated that the road would be un-
eQualled in point Of earnings. Physi-
cal conditions favored economy in con-
struction. The expenses would be
light and the income large. There is
no competition, the section it ira
verses being a virgin field. The cost
of construction was So, ,S77, 300 for one
hundred and sixty miles of track, or
s24 ,233 per mile per estimate.
Securities to be issued represent a
par value of s6,Oo0,O00. Estimated
earning Of $4,000 for the system
would average So, 900 per mile, or ten
per cent. on the cost of construction,
or minimum earnings of 1875 for the
% miles in Morristown. Gross earn
ings would be S13, ,125, Of which the
proposition of the company would
give an average return to the town of
1852. so yearly for fifty years less taxes
and assessments, while the estimated
earnings would be twelve per cent.
on the cost of construction.
Ex-Judge Cutler said that applica-
tion had been made to build the road
in response to a great demand of prop
erty owners and business men. The
company had no desire to interfere
with the growth or beauty of the
town. The company is represented
! by men owning land of large value in
Morristown, who have the interests
of the town at heart. All know that
companies are liable to change. In
considering the franchise it should be
considered that Morristown is not a
city nor does the line connect one part
with another, but runs out into the
country, while track expenses are the
same as in city conditions The COM
pany is willing to build the road In the
best manner possible, and bring in the
people from other parts of the county.
Rev. j. T. Brown, of Morris Plains,
said the people of his section want the
trolley built.
T. w. Cauldwell emphasized the
fact that the Civic Association is not
opposed to the trolley, but desires
that the conditions should be right.
1t should be understood that the road
does not terminate here and earnings
are not figured on that basis.
President G.. @. Smith of the Busi-
ness Mems Association said that the
chairman of the committee appointed
was unable to be present. The busi-
ness men are Overwhelmingly in favor
Of the trolley, but want it to come
fairly and pay what it should. They
had confidence in the members of the
board of aldermen in the matter.
e. X. Mills said that if the requisite
number of consents had been filed and
| If the people want the trolley they
should have it. He stated that in
1899 when the road was organized it
filed map showing lines on nearly all
the streets of Morristoww. Some peo-
Pile who are in favor Of trolleys would
be opposed to a gridiron of the section.
He asked what the present scheme
contemplates.
r. d. Foote said the map filed in
1899 was done to fOrstall any action of
the Public Service people who were
filing on roads all over the State. He
organized the company to save the
people of Morrist0wn from the inva-
sion. 1t is the present purpose to go
through the town, using private
right Of way for most Of the distance
to the station and out of town. The
company plans to build from Netcong
through Succasunna. Dover, ROcka-
way, Morristown, Madison, Chatham
and Summit to Elizabeth and Maple
wood If it could go clear through
Morristown on a right of way of It's
own it would do SO and not have to
accept terms for the use of the streets.
just how it will go he didn't know.
1t is a funny business he said. You
lay out a nice route due north and
when you get through you find your
self running south.
The business men Of Morristown he
said are not as prosperous as those Of
his boyhood days. Then Morristown