New-York tribune., 1908-08-06
HEARING ON BELT LINE
TRANSFER QUESTION UP.
p. S. C.. Must Haze Valuation OF
Properties Before Acting.

There was another hearing yesterday before
William r. Wilcox. chairman of the Pubic ser
vice Commission, the service to be furnlsheo
by the Central Park. North q East River hali-
road Company known as the Belt Line, which
at midnight last night ceased to be a part of the
Metropolitan traction system and became once
more an independent line. The cutting off OF all
transfers between the Belt Line and the Metro
politan was also discussed. with special atten-
ton to the 59th street crosstown line. No solu-
ton of the transfer problem was reached, ana
there will be another hearing this afternoon
The hearing yesterday had principally to do
with the operation of the Belt Line as an inde-
pendent road, as the commission wished TO De
assured that the managers of the line would be
prepared to give the travelling public proper ac-
commodation under the new regime The repre-
sentatives of the Belt Line assured the commits
sion that arrangements had been perfected with
the receivers of the Metropolitan system for
enough cars horses and electric power TO op-
crate the road on schedule at least as good as
the one in effect before the separation.
A. H. vanderpoel, of counsel for the Belt Line,
said that the contract with the Metropolitan re-
ceivers for cars horses and power had been
signed by both parties He added:
I'VE shall have enough electric cars to be en-
abled TO continue the same service as heretofore.
AS to the East Side and West Side lines. think
1 can ssure the commission that the service in
future will be better than heretofore"
Chairman Wilcox asked about transfers, and
was told there had been arrangement re-
garding them. The chairman said that the i'm
mediate object of the hearing to that
adequate service was maintained The question
of transfers will have to go until the valu-
alton of the properties which has been in prog
ress for some weeks, is completed. That VIII
take some time. Mr.. Wilcox added:
know of no power under which an order could
be issued offhand for the exchange of transfers.
the power to fix Joint rates, but the courts have
held over and oyer again fdaa no Grer @ o0
tion of property. To avoid taking action that
complete n inventory of the properties affected.
That inventory is now being made: and 1t is work
Ralph w. Wolf, an attorney, who said he
represented various property owners in 59th
street whose holdings would be seriously in
jured by the abolition of transfers expressed
the opinion that the state receivers appointed
by Justice Seabury would more properly have
been in charge and asked if the action Of the
federal receivers in terminating the lease of
the Belt Line by the Metropolitan was legal.
Mr.. Wilcox said in reply:
which could lawfully take action to enforce the
the Metropolitan lines We shall be very glad to
receive the suggestion say that in perfect good
faith. But, for my own part, fail to see where
we are given any such power. AS have said. the
courts have held again and again that power
to fix rates be exercised only with careful
gard to the value of the properties affected Those
values endeavoring to learn. From
some things which came up in this investigation
l judge that stock and bond issues not in all
cases fairly indicative of the actual values of rail-
roads. But can learn the definite ac
tual values shall he pref ared to act this
matter of transfers. But kat cannot be for some
time yet. Meantime, shall merely endeavOr to
see shat adequate ler1icu Is maintained by the
Belt Line.
The points at which transfers have been abol-
ished since the local traction troubles began
are as follows: