Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1911-02-28
ASKSEXTENSION
FOR FRANCHISE
Rapid Transit Company Says
Further Enlargement
Demands II.

Almost simultaneously yesterday
afternoon a bill extending the Rapid
Transit franchise to the year 1880
was introduced in the House by Rep
resentative Williamson, and the an
nual meeting of the corporation at IT'S
own offices was featured by Presl-
dent L. Tenney Peck's declaration
that further development of the com
pany depends largely on the extension
Of the franchise,
The annual meeting showed that
the Rapid Transit Company is already
doing a great pubic service business,
but that the demands call for further
enlargement. President Peck's re-
port said in part:
"The growth in population OF the
city of Honolulu has been more mark
ed than in any year since the COM
mencement of your enterprise. The
increasing traffic has taxed heavily
the capacity of your power plant and
rolling stock, and large expenditures
fer new equipment, machinery ana
s,ndry betterments have been neces-
eMy to keep pace with the demands
upon the service of transportation you
are rendering to the public.
1T is we'll to consider in this con
nection that over one;nird OF the HE
of your franchise has expired, and
that but eighteen years remain, IN
which time ever increasing eXpendi-
lures will be necessary, not alone for
operation and maintenance, but for
renewals to Offset obsoescence OF
various devices already installed, and
for additions to the plant and equip
ment necessitated by your growing
traffic.
"IIow to meet thes9 conditions ana
at the same time pGI far dlVHeha3
and provide by meanV of the SINKING
funds contemplated BIZ your franchise
for your reimbuHsem4 Oh lhe cost
of the property. whifh already APP
proaches the sum of iwo million dol
lars is a problem Which should be
squarely faced, and, {if possible dis-
posed of by a Practical solution
"Annorently the Annual conhibli-
tons necessary for Al sinking fund OF
funds of this naturel will place alcll
burden on the earl pings that Fttle
will be left for dividends and better
| ments, which, if possible, should DC
| provided for. (
Your board IF d rectors has ther-
fore decided " '"Sply to the legislN-
ture of Haw1i and the congress pi
the United st3,tes for an amenimett
of its franchije. extending it's Ierio)
to the year 1850"
Increased Earnings.
| General Manager Ballentyne's re-
port, in partg follows:
1.-THE earnings were $453 1926. an
increase of SA0 $3.50 over 1909 The
operating expenses were 1921, 11AS0
as against $RO7, S5593, an increase, OF
1923, 25SS7; Che ratio of expenses tC
earnings being 50.92 per cent as
against 5000 per cent. in 1909. Ii
comparison with preceding years, oil
experience from the operating stand
point has been very favorable.
at is t6 be expected that as thu
years incfease, the pro rata of ex-
pense on account of maintenance AM
renewals will also increase, as deteri
Grafton and wear are constantly be
coming more effective.
Betterments.
THE net chargings of the year t.
betterments aggregates $1SS.554.44
mo action was taken towards thu
construction of the Pearl Harbor ex
tension, for the reason that it has no
i beeii possible to obtain from the wa
department a license, satisfactory L
the company, to cross the Fort Shat
ter military reservation. With thi
exception, the right-of-way has beer
secured and all the material for thi
work is on hand.
Car Earnings and Expenses.
1.-THE following table shows the ca
earnings and operating expenses il
comparison with 1909:
1910 1909