The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1911-09-19
TRANSFERS AND STRAIGHT
SCENT FARE.

IL IhC btccb railway OOhuPuuioo
shall decide on q policy of universal
transfers, without waiting to be driven
to it, they will give demonstration
of liberality and intelligence that will
justify the revision of well-nigh uni
versal opinion that managerial intelli-
gence is a long way below par with
these corporations.
There is a firmly grounded belief
in this town that the two most inn
portant street car companies will one
day propose a consolidation, on terms
which will permit another very big
and very luscious irrigation Of their
already highly aerated securities.
That consolidation will require the
consent of Congress. In order to pla-
cate public sentiment and secure its
acquiescence in the melon cutting, the
assurance of universal transfers will
be held out as a guild pro quo.
1t is thus rather a simple proposition.
The underground trolley lines are CAPT
tailed at something like two-thirds of
million dollars a mile. Will the
people be willing to have that capital
ization raised to, say, million dollars
in exchange for universal transfersi
The street car companies would prob
ably grant universal transfers without
much protest if it were not for the
hope that they may make such a
profitable trade as this. Therefore, in
the present juncture, it is worth while
to state few plain facts about the
situation to the street car managers:
/. There isn't going to be any melon
cutting.
q Congress has got too wise to pass
any more enabling acts for the ex-
elusive benefit of the promoters.
8. The public is going to be Gin on"
street railway legislation in future.
4. Universal transfers are coming,
and the street car people will look much
more graceful and amiable if they give
up voluntarily.
5. A physical valuation of the street
ear lines, which will raise the whole
issue of overcapitalization, will be
good deal less likely if the companies
make some concessions to public SEN
timent and popular interest.
The fact is, gentlemen, that if you
are waiting, as nearly everybody be-
lieves, for a chance to put over a neat
little project in recapitalization, Incl
dent to a consolidation and universal
transfer arrangement, you are going
to be disappointed. Perhaps you don't
understand why, but you ought to. 1t
is because no Congress will ever again
DARE to enact such legislation. The
people of the whole country would
repudiate with indignation a Congress
that would pass it.
This is not because the country at
large is excited about compelling JUS
tice to Washington. It is because the
whole country has its eye on the set
of issues relating to corporation con-
troll, regulation of capitalization, and
the like.
There is going to be a vast amount
of conversation in the next few years
about these issues. The nation will be
listening to professions of statesmen
who will insist that they favor proper
regulation. It will be interested, as
never before, to observe whether pro-
fession squares with performance.
That is why there simply isn't a
ghost of chance to get any imitation
consolidation project through Congress.
There is just about ten times as
much chance of getting physical val
uation and REDUCTION of fares
as there is of getting consolidation
imitation project passed.
The time was, it may be freely ad-
mitted, when such pleasant jobs were
pulled off with neatness and regularity.
DuL tuC 0dg6 Va JUG oduCOCA 30 CudI-
man of the District Committee are
done. Sammy Smith, in his oleaginous
acquiescence in anything franchised
corporation wanted, is no longer sitting
on the lid. The always-reliable Gal
linger cannot nowadays be certain of
controlling the Senate, or even his
own committee, when he desires to
pass something good for the street car
interests.
These are not all the facts Of
ominous portent. The franchised cor
porations hold no such firm grip on
Congress as they used to hold. Public
intelligence and understanding are
keener, interest is stronger, than ever
before.
And beyond all this there is one
newspaper in town which viii be very
certain to let the light in whenever the
effort is made to turn any tricks. The
Washington Times is going to fight
for the public interest. 1t will not con-
sent to any projects of initiating stocks,
in exchange for universal transfers. It
knows perfectly well that no such