Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1910-10-05
SDErs NMHSEh1

charges, the PROPHECY Oh essAoAAshAA0
his own line of freight steamers. 1t
lad amused him to combine the p1ac-
tise Of the ancient merchant prince
with the customs Of the modern one.
He had bought the controlling inter-
est in freight line of half dozen
large steamers, which he found no
difficulty in using as cargo carriers
for other people when they were not
supplying his own needs.
The purchase Of the freight line had
with it lease Of one Of the piers In
the North river. The lease had run
ont the year before. He had there
after awaited himself Of what he con-
ceived to be an excellent opportunity
Of subleasing another pier In the East
river. The city had just completed cn
elaborate railroad. surface and sub
way, for the transportation Of heavy
freight from the water front to the
great mercantile establishments In
land. This system had been leased
to the Gotham Freight Traction COM
pany, Q vast corporation with full
set OF ostensible promoters and di-
,rectors, but which had back of it pow
ers and persons unknown to the gen.
eral public, carefully concealed from
It in fact.
The corporation had not been form
ed to promote the health of its mem
bers. Therefore when Gormly ap-
piled to the authorities for permits
sion to construct a switch from his
pier on the one hand and his ware
house near the river front on the other
to connect both with this subway, the
permission was instantly granted. but
coupled with an expense demand upon
him for something like Q million dol
lars.
Gormly could give Miss Haldane q
million dollars to play with: he would
not spend ten cents for bribery. Flo
saw instantly that the demand upon
him was a mere attempt to hold him
up. To build the switch would cost
perhaps forty or fifty thousand dol
lars: the privilege might be worth as
much more; but inasmuch as no
streets were crossed, no overhead traf
&c hindered, he was doubtful even az
to that. The road had been built by
private capital-subscribed by the peo-
ple-on a public franchise. The In.
terests Of the public were supposed to
be paramount. A reasonable return
upon their investment was all that the
promoters had . right to expect.
Gormly had consulted his attorneys.
had appealed to the city council. and
had done everything that he could to
settle the matter short Of publishing
the whole affair. He had failed alb.
solutely everywhere. The members Of
: the transportation committee of TIE
board Of aldermen were very sorry,
but they did not see what could be
done. A gentle hint that Gormly
might prefer to indemnify the alder
men for their trouble in case they
should give him permission was met
with panied silence or explosive wrath.
It was furthermore pointed out to him
that the board had no power, the
ed In the corporation for ninety-nine
year period. It was too bad that the
innocent aldermen had allowed them.
selves to be placed in such an unfor
;tunate position; but SO 1t was-and
there you we're. There was no help
for the matter, and Gormly's only re.
source was to pay the money, unless
he wanted to unload his goods into
truck wagons and vans and cart them
all over the city. OF course he could
do this; but it would be much easier.
more profita Bile and more desirable in
every way II he had the right to run
cars out on the pier alongside of tae
vessels of his feet and transport the
S~ heel lx,
He was in very desperate situa.
ton. Here he was saddled with a
twcnty-fve-year lease of one of the
most expensive piers in New York;
here he had a great warehouse six
blocks or more away from the pier;
there he had also vast store several
miles from the warehouses; here was
IA railroad that practically connected
all three, provided ono or two little
spurs or switches could be built from
pier to railroad, and from warehouse
to railroad. It was perhaps the one
mistake that he had made in his bust
ters before all this came to = climax.
The railroad people meant to make
him pay. They we're resolved that
he should; he was equally determined
that he would not.
He was not alone in his position,
however; for It was found on all sides
i-he discovered it by making quiet in.
quiries-that other shippers and
merchants seeking similar privileges
were being held up In the same way.
The road had proved enormously ex.
pensive to build; the stock had been
watered numerically. Contracts
which had been entered into for the
construction Of switches were found
to be of little value; means were avail.
able to break them and evade then.
and the whole water front of New
York found itself practically helpless
In the grasp of this octopus of a corpe-
ration.
There had been NO clamor In tho pa
pers over this matter; but there was
q tremendous undercurrent of resent
ment and dissatisfaction, and Gormly
thought he saw an opportunity of turn
ing 1t to his own account. To expose
the Ubiquitous methods of procedure
Of the Gotham Freight Traction COM
pany, to bring about its ruin or its
downfall by deprivinE 1t Of tho fran
chise It was abusing. to safeguard the
people in their rights in any further
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