New-York tribune., 1909-02-07
LIGHT on STH ST. LINE
HOW ". s. r. FIGURES LOSS.
Cost of Operation Placed at 80 Cents
a Car Mile and Receipts Only s2.

The recent statement of Adrian H Joline ana
Douglas Robinson receivers OF the Metropohtamn n
Street Railway Company. that the e'h e"S~'
erosstoun line vas not earning Its operating eA-
,.,.ss snd might soon be dropped part Of the
Netropolitan system, thereby causing announcer
wholesale cutting of OF transfers mas caused sur
orIse and discussion in view of the eXceeolnsE
heavy traffic on the lire. The general pubic mas
refused 20 believe that line which is so uniformly
oougested the sth street crosstoWn me Is "o'
making money
THE tribune is able 10 present figures to-day.
however which throw considerable hght on uie
local traction situation and tend 10 prove the CON
;ention OF the receivers These figures tnoush no'
fetal nav be relied substantially correct
The Central Crosstown Railroad, which operates
the 9Th street CrossEOwD lire, was leased On fAt4'
/ 1903 for sSs years 70 the Metropolitan street
Railway Company al q rental Of 10 per cent per
snnurn on the ssoooo0 capital stock Of the Central
CrosstoEn Railroad. in addition TO guarantee
OF the principal and interest of the oonos OF NE
leased road. The outstanding bonds are $o'''VSV
frs mortgage 6s and SZ5eo"oo hrst consohdaltu
mortgage IS The rental thus amounted TO 5000"
a wear and the interest guaranteed on the oohuS
vas Sl5Go
TIE Ve-ropoli-an receivers defaulted the guar
+erly rental pavrent Of $3.50 April l. lS@ ana
---srehy broke the lease. Il was not deemed oeel
- that tine 10 divorce the road entirely from the
Metropolitan system. and contract for one year
mas made between the receivers and the 1el'II@l
Crossfosn Railroad. BY the terms OF this con'fact
and 20 pay the interest on the bonds but me $50
animal rental was done away with The roso IHus
remained a part of the Metropolitan system an an
continued 10 exchange transfers WIN 'ne o'i-7'
lines Of the system
--, rees-,r -r.sr 70 the Metropolitan OF this sub
sdtar l.-e IS srl5"l a year. the interest guaTa-
teed On the Central Crosstown Raliroa1 OoLu' O
This of course is in addition 10 taxes anu 10 Fo
vision is made for any dividend on me - l-o
ssa 90 capital stock which uloeI l'-e N'
received 70 per cent
The average number Of passengers eaIrleu u a a
present ny the Sth street cTossto"n lhe iS 80
a dav OF these. IS Is per cent, or 4''p''' q
~, transfers The subsidiary lines OF the Nle'Io
,,,,s- ss-en7 keep All the cash fares received ana
balance transfers given against transfers received
The average daily income Of the o'h S'Iee' ~
town line is therefore about $3.50
5-iq,,-e5 ont on a car mile basis, the income OF
The line Is slightly under % cents car Inlle -
,,es- aro when fewer cars were operated the III
come was 30 cents car mile The operating ih0o'e
has thus been reduced more than . per eei' o.,,
The testimony given by the receivers IN the 'S'i
street transfer case showed the average cost "a
operating the lines ~ the Metropolitan sys'ei" -
Ia . cents a car mile. Taxes amount 10 per cent
af gross earnings which figures out about cents d
car nile The cost of operating the olH S'ie
crosstovn line and paying the taxes on lhe pIop >
is figured therefore. at 30 cents a car mile As
-,s >orananv takes n only . cents a car Hiie II
figures a deficit Of cents on every car Inlier 10
this deficit is added 2l15eio interest paid on the
h0u5s Z the Central CTosstoWn Railroad
The present contract between the Metropoh'an
-are,,-ers and the Central Crosstown Railroad VIII
cxpire OF April l. before that time it Is eXpec'eA
that Judge Iacombe viii instruct the receivers
v neither 10 renew the contract dron the line In
case the receivers should refuse 70 renew the con
rrs-r Il would -, uo the owners "f the 'entral
Crossrov-r Railroad 70 operate the property, just
as the owners Of the Central Park. North and East
River Railr7ad doing
Transfers -y b. abolished Il the receivers refuse
20 renew the contract with the Central CrosstoNn
Railroad IS the two companies would then o- uhaeE
errirelv separate management Joint rate permit
ting transfers might. Of course be agreed on. nut
the Metropolitan receivers and rhe owners Of the
5sth street cTosstown line were unable 10 agree on
the transfer question and practically the same con
6itons would be met in regard the Sth street line
The ss1h street transfer case viii come NJ before
the Court q Appeals ~ Albany tomorrow on the
spQeal of the Public Service Commission from the
decision of the lower court in the cerrorari pro
ceeoings instituted ny the receivers and the Cen
tral Park North and East River Railroad 70 test
the powers OF the commission The decision in this
case will. Of course. have direct bearing on the
sth street case.