New-York tribune., 1907-12-18
BELMONT TO CROZIER.
RIGHTS OF CORPORATION.
Liuelu Discussion at Session of the
CiUic Federation.

If any of the neighbors of Alfred o. Crozier ask
the lawyer when he gets back to Wilmington. Del'
how he enjoyed the deliberations OF the Nationai
Civic Federation at the Park Avenue Hotel he will
probably tell them he had a stirring time he
succeeded in throwing stir or -wo into the as
semblase at its closing session yesterday after
noon and seemed to enjoy the commotion, although
he did not get the opportunity to all he wanted
to about the viany Of Wall Street, vested inter-
ests. the public rifng corporations. etc
Mr. Crozier is the man who served notice on
the OF the federation at its afternoon ses
sion On Mondap that he knew the real meaning OF
the scheme to reform the currency so as 10 maze
It more elastic. All the other members tnought II
ought to be reformed by some method. but Mr.
Crozier tipped them off that 1t was only Waii
Street scheme to double interest rates levied on
the producing classes. He didn't propose to stand
for it, and he was sure the public wouldn't either
Mr.. Crozier is a member OF the Federation but
his brother members didn't have a chance 10 De-
come really acquainted with him until Monday.
August Belmont, the retiring president OF the fed
Grafton. had not been at the session on that
day. he possibly the only one yesterday af-
ternoon who wasn't prepared when Mr. Crozier
arose to make few remarks.
Mr.. Belmont, who had resigned the chair TO the
Rev Thomas p Slicer 10 make some remarks on
the days topic. Prevention of Strikes and Lock-
OUTS. particularly In the of public utility cor
poratons. had referred to the strike the subway
and elevated lines in the spring OF 1905 The
president of the Interborough Rapid Transit had re-
ferred to the aiuagamation of the employees on the
( systems and the violation Of Of the trade
agreements with the employing company which had
been made by the men before they went out sum
marily on strike There had been TO disposition
Mr.. Belmont had said. the part OF the corpora
listen the requests of their employees,
but the had not only refused 10 hearken TO
the advice of the governing body of street railway
I
any notice Mr. Belmont wasn't opposed to unions
such. but he expressed the opinion that IL the
public service corporauoR was TO be compelled TO
consider the public interests. employe of such a
corporation should be obliged give reasonable
notice of his intention 10 quit his Job. instead of
getting a moments notice and wilfully In
terfering with the public service.
Mr.. Croziar, who has a good voice. an fnehace-
able smile ID anliabIs manner. was on his
feet befor II. Belmont back in his chair,
The lawyer wanted TO ask a question This was II:
IF an employe enters the employment of public
service corporation at a modest wage and thereby
incurs obligation servant of the pubic
should the corporation which receives a fran
chise from the public free, a franchise which IS
not property. but mere license. also have an
obligation to the public and be prevented from
capitaIizins that franchise for So00aOo0 and then
charging the public higher rates to earn dividends
that capitalization?
Mr. Belmont as has been said had not heard
Mr.. Crozter on MondAy, Dut ne started 10 sIisNel
question by telling his irterrogator that Il was
an incorrect one. The traction company president
said franchises to public service corporations IN
New York were not free by long shot. On the
other hand. the taxation on their property was
very ouerous As the query incorrect. Mr.
Belmont said he supposed Re was absolved from
answering It. but purposed TO do so. anyway.
"On general principles" he said. 'ft Is ir1por-
tant for a corporation TO have the means for It's
| necessary development" Growing more earnest
as he went on. Mr.. Belmont said that such de-
velopment mus. be naturally dependent upon the
cooperation OF the Investor THE corporation is
obliged seek the investor he said with the
! kind OF security he is willing take Better and
greater means OF transit in this city iupera-
lively needed. but It is impossible to obtain them
because the investor has been frightened of.
| There IS hostility shown IN New York toward
corporations great If tustlfable. that 1t
/ is impossible obtain the money necessary 20
increase transportation facilities. The alterna-
tive suggested Is that the city take up the work.
But it is fallacious to say that the city can do
what individuals corporations will not or can
do 1t is fallacious to say that there is any
| public money aside from that obtained by taxa
| ton. The city, too will have to go 10 the IN
vestor The investor is just guarding MS own
interests and keeping his purse strings tight. and
the city will have to wait for long time before
starting the work OF improving transportation IA
cilities because OF the unreasonng hostility on the
| part OF a section Of the press and public
! Mr.. Crozler wanted 10 ask more questions. but
Mr.. SIicer after rernarkng the admirable ex-
ample OF amiability' shown By Mr. Belmont. ruled
| that the whole discussion was not sermane TO the
subject under discussion.
II submit very gladly, gratefully and anxioUsy
| 10 your dec,sion. said Mr.. Belmont, amid the
| laughter Of the gathering
MIR Crozier also bowed to the authority Of the
chairman but he had chance short time after
! ward when Mr. Belmont, who had resumed his
place read the resolution OF the special committee
| recommending that Congress pass some measure
as speedily possible to rnpart greater elasticity
| to the currency. The lawyer had an amendement
| providing ttat the work OF making the currency
elastic should assigned to the government and
| mot to banks. clearing houses individuals
| Promptly Marcus NJ Marks moved that the
| amendment be tabled, and seconded by the
Rev Mr. Slicer. Half dozen persons tried to
! talk ut once, and there was much confusion
! to the parliamentary proceeding. but Mr.. Crozer
| finally got another chance to talk He succeeded
In saying that he didn't want the currency to get
| into the power OF the Wall Street banks when he
| was ruled out by the chairman j. Gray Bolton.
/ of Philadelphia, who had seconded the amendment
/ Of Mr. Crozier, then said he had done because
| he wanted fair show for all At that Mr.. Marks
withdrew his motion to table 1t looked like
| much disturbed sea of talk when Samuel Gompers
| came forward the oil sprinkler. The labor
leader said that while personally he was in syrnpa
! thy with the amendment, he was opposed to having
| a resolution adopted by the federation that left
| roon, for controversy. The amendment was then
defeated with dissenting voices and the reso-
luton itself was carried unanimously Mr. Gompers
had at a meeting OF the resolutions committee op-
posed q resolution on currency reform presented by
senator Horace White inclning to commit the
| federation to a specific plan of reformation A
| long discussion followed before 1t was decided TO
| adopt the general broad declaration drawn up by
| Isoac n seIigman upon which 1t was felt all the
members of the federation could agree.
| NJ Belmont had sent letter TO Ralph III. Eas-
Lew stating that his business interests would not
,arr,It him TO serve a fifth year president OF
= .aora.,on In his place Seth Low was chosen