Wauwatosa news. [volume] (Wauwatosa, Wis.) 1900-1948, 1911-09-08
q g1grest.n said Mr. Haldane. that

any information you may acquire
/ should be submitted to those OF US
who are present before any use is
made OF it,"
"Oh that, of course" said Lifrey.
"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.
What's that?"
"The old franchise of the New York
SSrest 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
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'll sign it. and that'H be
the end of it."
| 1T is by no means as easy as you
think, Liffey." said Haldane. If
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 pock-
cts, we could laugh at him. | don't
know whether 1t 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, Haldane," said Van
S1yke, 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 Haldane, 81 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 It,"
That's hardly the question" said
Mcdonald. "Of course we want it;
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. If
we do not present ourselves with the
franchise, if we allow the election to
determine that unoficially as 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.
by no means" answered the finan-
| cier.
Well. what do you propose them"
This Would it not be well, in
case this movement grows strong
enough to be worthy of the attention
we are giving it, to declare as from
the party in power that while we have
the power to grant the franchise, and
while we think it would be for the
| interests of the people that it 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. II don't know but that it is
the wisest course; but we must face
the alternative"
What is that?'
Defeat! If we made that PROPOSE
L
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. If
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 eoncern?" asked the
district attorney.
1.-TWO hundred and fifty millions
from. the people, and-yery little
else" answered Haldane.
"How much is it really worth?"
queried Liffey.
Its worth. of course what was
put into it."
And what will its earning capacity
be-"
IF we control it, it viii 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
organization" answered Van Slyke.
The problem was tremendous one.
They faced it silently a moment or
two, and at last Haldane ressated it.
"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 |