The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1911-10-13
7 suggest said Mr.. Haldane. that

who are present before any use 10
made OF t."
"Oh that. OF course" said Liney.
Chief, don't make any moves without
submitting them 10 me"
There Ia still another matter OF
interest IN 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"
Well. II doesn't seem 10 me that's .
very difficult proposition" said Liney-
We've got the board OF aldermen.
and the borough presidents as well.
All we've got TO do is 20 draw up an
ordinance and shove IL through. The
mayor herell sign IT, and thatn be
the end OF it
Tt is by no means as easy as you
think. Lifrey." said Haldane, III l
know anything about Gormly he'll
make fight on that issue. That 10
cur weak point. II We had that fran
Chlse safely passed and in our pock-
cts. We could laugh at him. | don't
know whether II 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 suro OF
the ordinance before the election.
We would have that. anyway, even II
We failed. which. as Mr.. Liiey says,
Is hardly possible"
Gentlemen" said Haldane, II 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 II"
That's hardly the question" said
Mcdonald. "Of course we want e.:
but the question is. is 1t the best
thing TO do. think there Is tremend-
GUS force In your arguments. Mr.. Hal
dane. III we present ourselves with
that franchise. which ia 40 immensely
valuable and vital indeed TO the COM
pletion OF our properties. as we'll as to
the public. we shall certainly have
given 20 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 unofiicially as it were.
and then when we have won the elec-
tion. we avail ourselves OF our oppor-
tunities. we shall be In much safer
and better position
DO you wish TO submit this fran
chise 10 the vote of the people. Mr..
McRonaldf" asked Rutherford.
by no MEANS" answered the nnan-
cier.
We'll. what do you propose then7-
This. Would II not be we'll In
case this movement grows strong
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. and
while we think Il would be for the
interests OF the people that II should
be granted. yet we are willing to de-
fer action until after tho election and
let the election determine"
That would be wise course" said
Haldane. 81 don't know but that II Is
the wisest course; but we must face
the alternative"
What Is thatT'
Defeat II we made that propost
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. II
we don't have this franchise, they
won't be 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 nifty millions
from the people, and-very little
! else" answered Haldane.
How much is II really worthT-
queried Llrfey.
It's worth. OF course, what wes
put into It."
And what will its earning capacity
be7
IF we control II, It will pay q fair
dividend on all the stock that has
been put out, most OF which IL held
by our friends and the friends OF the
organization" answered Van slyke.
The problem was tremendous one.
They faced It silently a moment or
two and at last Haldans restated II.
You see. we can, II necessary, defy
public opinion and Jam through an
ordinance at the last minute even II
we are likely 10 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
atrouuaaf card for winning I tell you