Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1911-08-16
circle q the Gotham Freight Traction

circle Of the Gotham Freight Traction
company.
We'll. 1t doesn't seem to me that 8
very difficult proposition. !" said Lney.=
We've 1ot the board Of aldermen.
and the borough presidents @ we'll.
All we've got to do 10 to. draw up an.
ordinance and shove 1t through. The
mayor here'u sign 1t. and thatu DO
the end of it,
1T is by no means as easy % you
think, Liffey," said Haldane. II =
know anything about Gormly he'll
make fight on that issue. That 10
our weak point. II 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 ordi-
nance until after the election"
II 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, even II
we failed, which, as Mr.. Liffey 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 it"
That's hardly the question:" said
Mcdonald. "Of course we want it.:
but the question is, is it the best
thing to do. 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 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, If we allow the election to
determine that unofacially as it were,
and then when we have won the cleo
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, Mr..
McRonald?" asked Rutherford.
by no MEANS" answered the finan.
cier.
| well, what do you propose then?''
| "This. Would it not be we'll, 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?" . q -
Defeat! If 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, 100000, 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 U.S." ..- ..-...
How much actual money has beer
invested in the concern" asked the
district attorney.
1.-TWO hundred and fifty millions
from the people, and-very little
else," answered Haldane.
"How much is it really worth ?
Queried Liffey.
TITS worth, Of course, what was
put into it." .a
"And what will it's earning capacity
be-"
If we control 1t, 1t will pay fail
dividend on all the stock that has
been put out, most of which is held
by our friends and the friends OF thu
organization" answered Van Slyke.
The problem was tremendous one
They faced it silently moment Of
two, and at last Haldane restated it.
"You see, we can, if necessary, def
public opinion and jam through al
ordinance at the last minute even i
we are likely to lose the election, al
though by so doing we should give thu
enemy tremendous advantage a,
the close Of the campaign. Or we cal
defer the granting of the franchise
until after the election, in the hop,
that the postponement will be oul
strongest card for winning. tell you
gentlemen, that other interests O
greater magnitude would be involved
in the fate of the Gotham Freigh
Traction company"
"Why in the name of all that
businesslike didn't you get control o
this franchise before?" asked Ruther
.. ford.
1--WE couldn't" Haldane replied. II
is impossible to get renewal Of ,
franchise until it expires"
why didn't you wait before com
hitting yourselves to the greater en-
terpr1se until this franchise ma
tured?"
1--WE couldn't. There were other in
terests anxious to build the subwa,
.. and unite the various other franchise
In one organization. The people wer,
clamorous that the road should b.
built, and there was nothing else t,
do but build it. Besides, who coul,
have fo1eseen this situation. Nc
gentlemen, we were helpless, an,
without this franchise we are NOR
helpless"
CTo BE CONT1NUED.>