The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-01-27
ONLY BILLION
DOLLAR CITY
Budget of New York May Soon
Exceed Cost of Running the
Federal Government.
TRAMP TRAVEL TO EUROPE
EATING PLACE WHICH WILL
SEAT 5000 PEOPLE.
TRAMP TRAVEL TO EUROPE
Especial service.)


New York, Jan. 26-Father Knicker-
booker is in a fair way to outstrip Uncle
Sam. for if the city's expenses continue
10 increase at their present rate it cannot
be long before New FORKS financial oper-
atoms overtop those of the national gov
eminent Already the city's annual state
hent involves sums far greater than those
OF many foreign countries, and its ever
growing gross funded debt is getting I'M
comfortably close to the billion-dollar
mark, threatening in time to exceed the
national debt itself. The last yearly budget
calls for $4,000 GOETHE sum needed just
Ior running the city. The gross funded
debt is now S735, 600 and the contract
liabilities s70.0O0.000. The bonded debt has
increased Sis, 100000 in the last two years
and no one seems TO know what the limit
may be. Altogether New York may safe
~ lay claim TO the not altogether desira-
BILE distinction of being the first and only
billion dollar city in the world, where Incl
uentally the tax rate of the average fam
lily is about $40. Thus does a single city
threaten to overshadow financially at
least the whole federal government.
Largest Restaurant.
There is some justice in the assertion
that New York has mania for the super
lative. Every few days there is an an
nOuncemenI that some new recOrd4fOr size
or expense has been broken. In addition
10 having the tallest building. the longest
officials and the steepest prices for
whole lot of its necessities, the city is now
promised another record breaker in the
largest restaurant in the world, now pro-
tected for Broadway. According to- the
announced plan it is to have a seating ca
pacity of 5000 persons on its two floors. 1t
is said that 100000 is to be expended
in remOdeling apartment house in the
Longacre section to fit the ambitious
plans for this mammoth eating place.
There is to be roof garden, with real
grass and full-siZed trees and a lake fifty
feet long. A single room capable of seat
ing 1850 persons at dinner will be nov
city even for New York, although one of
the largest hotels has about that capacity,
counting all its numerous dining rooms.
The promoters of the new enterprise are
said to be Pennsylvania millionaires, but
whether from Pittsburg or elsewhere is
not specified, and no names are given.
Cheap Ocean Travel.
A situation by which it will be cheaper
to travel to Europe than to stay at home
is likely TO be created if the present trans
Atlantic steamship war continues. Al
ready second-class passage by the biggest
and most comfortable Atlantic liners costs
only a little over $50, while third class
tickets are below $50, and it is predicted
that very shortly they will go to $40 That
will mean board and lodging on some OF
the finest ships in the world at only lit
tie more than dollar a day. with a 5000
mile ocean voyege thrown in. This liter
d
home. and might lead TO the names OF
Mr.. Half Solos, Kerrigan, Mr.. Split
Finger" Mike and other well-known So
cial figures of the Bowery, appearing up
on the list of ocean Voyagers. 1t is no
ticeable thing about these steamship wars,
however, that they almost invariably oc-
cur in midwinter, when ocean travel is
at low ebb. 1t is safe to say that before
the annual rush across the Atlantic begins
the war will be over, with rates back at
their old mark, and that all Will be peace
and serenity among the rival lines. II Is
only when there are few bones to pick
that the companies begin quarreling over
them.
Profit-shsrins Plan.
The greatest profit-sharing plan ever
tried in this country. that of the United
States Steel corporation, is declared
success by George w. Perkins, who pro-
iected il and who is chairman of the IL
nance committee of the big steel COM
pany On the first of the year the plan
had been in operation five years and up
to that time over $10,000.000 had been dis
tributed to employees. This amount was
larger than even those who projected the
plan had anticipated, due TO the very
large earnings of the company, partieu-
larry during the past two years Mr.. Per
kins SAYS that 5000 employees OF the cor
poration have become investors IN It's
stock securing it on such terms that
when fully paid up, II has cost them only
a bout half the present market price. The
purpose of the plan, which was to Sc
cure the interest and loyal service of the
huge army of employees, seems TO have
been accomplished, for the company has
expanded its business tremendously and
has had practically no labor troubles.
.-Humanizing a corporation" is what Mr..
Perkins calls his process. There are ap-
proximately 5000 partners" in the Steel
CORPORATION now according 10 Mr.. Per-
kins. each one of whom is worker IN
the cause"
New Library Building.
1t is announced that New York's mag
nificent new public library WI be fin
ished within the next three years. 1t is
so long since work on this structure was
begun that most New Workers had
ceased to think about the possibility of
ever seeing the interior of the completed
building Melody will begrudge the time