The searchlight. [volume] (Culbertson, Mont.) 1902-current, 1911-09-29


should be submitted to those Of M
who are present before any use 10
made of It."
"Oh that, of course" said LifIey.
"Chief, don't make any moves without
submitting them to me-"
There is still another matter OF
interest tn US all which must be set
tied" continued Haldane.
Whats 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 Tractioa
company"
We'll it doesn't seem to me that's .
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 1t through. The
mayor herein sign 1t. and thatll be
the end Of it"
1T is by no means az easy as you
think. Liffey," said Haldane. IF I
know anything about Gormly he'll
make 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. | don't
know whether IL would not be better
to defer the passage of such an ordi-
nance until after the election"
Il think that while there is much
In what you say. Haldsne." said Van
Slyke. yet we'd better make sure OF
the ordinance before the election.
We would have that, anyway, even IL
we failed, which, as Mr.. Liffey says.
is hardly possible"
Gentlemen" said Haidane. Il am
by no means convinced of what you
say. | tell you that the main fight
will be on the disposal of that very
franchise. ! admit that we can pass
anything In spite of any connections.
but the question is do We want 1t.
That's hardly the question" said
| Mcdonald. "Of course We want IL:
but the question is, is 1t the best
thing to do l think there is tremend.
| Gus force In your arguments, Mr.. Hal.
| dane. II we present ourselves with
that franchise. which is SO immensely
valuable and vital indeed to the com
pletion Of our properties, as well 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. II we allow the election to
determine that unofficially as II were
and then when We have won the cleo
ton. we avai! ourselves of our oppor
tunities, We shall be in much safer
and better position
DO you wish to submit this fran
chise to the vote of the people. Mr.
McRonald?" asked Rutherford.
by no means" answered the finan
cier.
We'll, what do you propose them
This. Would il not be well. in
case this movement grows strons
enough to be worthy Of the attention
we are giving II, to declare as from
the party In power that while We have
the power to grant the franchise, ane
while we think it would be for the
interests of the people that II should
be granted. yet We are willing to do
fer action until after the election ane
let the election determine"
That would be a wise course" sale
Haldane. II don't know but that 1t 10
the wisest course: but We must face
the alternative"
What is that?"
Defeat, II we made that PROPOSE
ton. and then were defeated, II
would be impossible for us to secure
the franchise. The stock of the
Gotham Freight Traction company Is
$3.50. 900 900, and the bonds outstand
ing aggregate almost as much. Il
we don't have this franchise, they
won't be worth ten cents on the dollar
to us
How much actual money has beer
invested In the concern?" asked the
district attorney.
Two hundred and fifty millions
from the people. and-very little
else" answered Haldane.
How much is II really worth ?
queried Liffey.
Its worth. of course, what was
put into II"
And what will its earning capacity
be?"
IF We control IL, II will pay faii
dividend on all the stock that has
been put out, most of which is held
BY our friends and the friends of the
organization" answered Van Slyke.
The problem was tremendous one
They faced ii silently a moment OF
two. and at last Haldane restated IL.
You see, We can. if necessary, defy
public opinion and jam through an
ordinance at the last minute even II
we are likely to lose the election, al
though by so doing We should give the
enemy tremendous advantage at
the close Of the campaign. Or We can
defer the granting of the franchise
until after the election. In the hope
that the postponement will be our
strongest card for winning. tell you.
gentlemen. that other Interests OF
greater magnitude would be involved
I in the fate Of the Gotham Freight