Orange County observer. [volume] (Hillsborough, N.C.) 1880-1918, 1911-08-31

1 0AO0AA NC 00OA41xItOu " I0OoO VI IL
who are present before any use 10
made Of it."
"Oh that, of course" said Lifey.
"Chief, don't make any moves without
submitting them to me-"
There is still another matter of
interest to us all which must be set
tied" continued Haldane.
What's that?"
The old franchise of the New York
Street Car company that expires this
spring; the link that completes the
circle of the Gotham Freight Traction
company"
We'll, it doesn't seem to me that's a
very difficult proposition" said Liffey.
We've got the board of aldermen,
and the borough presidents as well.
All we've got to do is to draw up an
ordinance and shove it through. The
mayor here'n sign it, and thatn be
the end Of it."
1T is by no means as easy as you
think, Lifey." said Haldane. IF I
know anything about Gormly he'll
make a fight on that issue. That is
our weak point. If we had that fran
chise safely passed and in our peck
cts, we could laugh at him. I don't
know whether it would not be better
to defer the passage of such an ordt-
nance until after the election"
Il think that while there is much
in what you say, Haldane." said Van
Slyke, yet we'd better make sure OF
the ordinance before the election.
We would have that, anyway, ever il
we failed, which, as Mr.. Liffey says,
is hardly possible"
Gentlemen" said Haldane, IT am
by no mean convinced of what you
say. I tell you that the main fight
will be on the disposal of that very
franchise. l admit that we can pass
anything in spite Of any connections,
but the question is do we want it."
That's hardly the question:" said
Mcdonald. "Of course we want it:
but the question is, is it the best
thing to do. I think there is tremend-
GUS force in your arguments, Mr.. Hal
dane. If we present ourselves with
, that franchise, which is so immensely
valuable and vital indeed to the com
pletion of our properties, as we'll as to
, the public, we shall certainly have
given to the opposition the strongest
+ ground for appeal to the people. II
we do not present ourselves with the
franchise, if we allow the election to
determine that unof6cially IS it were.
and then when we have won the cleo
ton, we avail ourselves of our oppor-
tunities, we shall be in a much safer
and better position"
do you wish to submit this fran
chise to the vote of the people, Mr.
McRonald?' asked Rutherford.
4 "By no MEANS" answered the inan.
4 cier.
4 well, what dc you propose then?'
This. Would it not be well, in
case this movement grows strong
4 Eenough to be worthy of the attention
we are giving it, to declare as from
the party in power that while w have
the power to grant the franchise. ant
while we think it would be for the
! interests of the people that it shoul(
! be granted, yet we are willing to de
4 fer action until after the election al
4 let the election determine"
4 THAT would be a wise course" sail
A Haldane. 81 don't know but that it i
4 the wisest course; but we must fac
4 the alternative"
4 what is that?"
1 Defeat! If we made that PROPOSE
ton, and then were defeated, !
would be impossible for us to secur'
j the franchise. The stock of tn,
Gotham Freight Traction company
$3.50, 600, 900, and the bonds o~utstand
4 ing aggregate almost as much.
4 we don't have this franchise, the.
won't be worth ten cents on the dolla
to us"
"How much actual money has bee,
invested in the concern?" asked tn
district attorney.
1.-TWO hundred and fifty million
J, from the people, and-very littl
else" answered Haldane.
"How much is it really worth?
queried Lifey.
tits worth, of course, what wa
put into it."
"And what will it's earning capacit
be?"
eff we control it., it will pay a fal
dividend on all the StOcK tnat Ma
been put out, most Of which is hel
by our friends and the friends of tn
organization" answered Van Slyke.
d. The problem was a tremendous ont
III They faced it silently a moment 9
two. and at last Haldane restated it.
IS "You see, we can, if necessary, def
public opinion and jam through a
ordinance at the last minute even
we are likely to lose the election. a
it though by SO doing we should give tn
enemy a tremendous advantage a
IN the close Of the campaign. Or we ca
Id defer the granting of the franchis
until after the election, in the hop
that the -postponement will be GU
strongest card for winning. ! tell yo1
Mt gentlemen, that other interests {
)" greater magnitude would be involve
in the fate of the Gotham Freigl
+ Traction company"
o. "Why in the name of all that
businesslike didn't you get control
The franchise before 7'' asked Rutho