Morgan County republican. (Versailles, Mo.) 1906-1914, 1911-08-10

W tudI "biAS
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, even II
we failed, which, as Mr.. Lifey says.
Is hardly possible"
Gentlemen" said Haldane, II am
BY no means convinced OF what you
say. I 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 commotions.
but the question is do we want It."
That's hardly the question:" said
Mcdonald. "Of course w0 want It;
but the question is. Is 1t the best
thing to do. 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, IL we allow the election to
determine that unoficially as It were.
and then when we have o the elec-
ton, we avail ourselves Of our oppor-
tunities, we shall be in q much safer
and better position"
do you wish to submit this fran.
chise to the vote Of the people, MI.
Mcdonald ?" asked Rutherford.
by no MEANS" answered the finan.
cier.
well, what do you propose then?"
This. Would It not be well. in
Ease this movement grows strong
enough to be worthy of the attention
we are giving 1t. to declare as from
the party in power that while we have
the power to grant the franchise, and
while we think 1t would be for the
interests of the people that 1t should
be granted, yet we are willing to de-
fer action until after the election and
let the election determine
THAT would be a wise course" said
| Haldane. 81 don't know but that 1t Is
the wisest course; but we must face
the alternative
What is that?"
Defeat! If we made that PROPOSE.
ton. and then were defeated. 1t
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. II
we don't have this franchise, they
won't he worth ten cents on the dollar
to US"
How much actual money has been
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 it really worth?'
queried Liffey.
IT'S worth. of course. what was
put into it." -
And what will its earning capacity
be?"
"If we control 1t. 1t will pay a fair
dividend on all the stock that has
been put out, most of which Is held
by our friends and the friends of the
orRanization," answered Van Slyke.
The problem was a tremendous one
They faced 1t silently a moment or
two and at last Haldane restated 1t.
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 a 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 ouI
strongest GARD for winning. l tell you,
gentlemen, that other interests Of
greater magnitude would be involved
in the fate OF the Gotham Freight
Traction company"
why in the name OF all that's
businesslike didn't you get control Of
this franchise before?" asked Ruther
ford. -.
1--WE couldn't" Haldane replied. III
ia impossible to get a renewa OF
franchise until 1t expires"
"why didn't you wait before com
hitting yourselves to the greater en-
~terprise until this franchise ma
tured?"
1--WE couldn't. There were other IN
t~erests anxious to build the subway
and unite the various other franchises
in one organization. The people were
clamorous that the road should bt
built. and there was nothing else tc
do but build 1t. Besides. who coult
have foreseen this situation. No
gentlemen, we were helpless. and
Al. g-o-aht.A urn orn p,nr6