New-York tribune., 1912-01-27
'SHONTS TALKS SUBNAYS.
"ThIngS All Right Except That
They Need a Little Fixing"
COMMENTS ON HOSTILITY
Better Times Coming-Electric
Railways Men Also Hear T. N.
McCarter and Fl. Parsons.

Representatives of $50 100000 in capitol
and close TO one million employees gathered
at the Hotel Astor last night and listened
to Theodore +. Shonts tell what he thought
OF the subway situation in this city and
public service commissions in general.
Those who listened were the members OF
the American Electric Railways Assocla
tion, who were guests at dinner of the
American Electric Railways Manufacturers
Association. And to show that it was en-
tirely a friendly dinner they put ]. +.
Calderwood, general manager Of the Brook
lyn Rapid Transit Company; Frank He'd
ley, general manager Of the lnterborough;
T.. T. Munger, general manager OF the Nc
Adoo tubes and Il. T. Danforth. Of the
Public Service Commission, at the same
table
The burden of Mr.. Shonts's speech was
that things were all right. except that they
needed a little fixing. Early in his talk he
called attention to his own case. There
has appeared in the newspapers and in the
conduct of some representatives of the
people," he said IAN attitude Of hostility
to the welfare OF the public service COM
panies Indeed, the hostility has In some
viduals engaged in the conduct of the bust
ness as well as against the corporations
Getting along from men to subways, he
said: THE apprehension that some one
might make a profit has been serious OBJ
stacle so far to the solution of the subway
| situation in New York And yet l believe
that the public is willing that fair profit
be made. provided they in return are given
the very best transportation for their
money. The American people are just and
generous. and once let them hear both sides
OF n question their decisions are sound.
And the means Of our salvation and re-
demption are at hand.
1T may sound strange 10 some, but eX
pect the new dispensation TO come through
the public service commissions Of the sew
eral states. There is the dawning CT
better day for the public. because no longer
will securities be permitted to be based on
hopes never TO be realized. There is
brighter future for the managers. because,
having TO earn returns only upon a fair
valuation Of the property. they will not be
expected to perform magic by producing
dividends out Of hopes deferred"
, Mr.. Shonts. however, was not the only
speaker Thomas n. McCarter. president OF
the Public Service Corporation Of New Jer-
sey, was much interested in the question OF
how additional capital was to be found for
| investment IN street railway enterprises
While he did not 30 into tho subject OF
public service commissions with the enthu-
siasm Of Mr. ShOnts. he advised his hearers
that the only thing for them to do was to
give the public a square deal And his ad-
vice came TO the same thing I'm tho end
sound finance FOR electric railways.
1t is up TO u.s." he said. TO convince
the country that capital must he allowed a
fair return or street railway building will
stop because We can't set the money. u
Is not too late TO put the street railway
business on the same basis as the steam
railroad business. This means fair re-
turn TO the investor and fair service TO the
public"
Another cure for what was generally re-
ferred to by the speakers as existing evils
was offered by Hinsdill Parsons. vice-presl-
dent OF the General Electric Company, OF
Schncctady. His idea was that the bust
ness man should so into politics-not for
political advancement. hut to see that hon
est men got into Office.
The muckraKing articles IN the maya
zines appeal 10 the passions OF the voters
he said and. therefore. arc worse than
useless. II some way can be found to get
next To the voter and make him understand
| what we are trying TO do. / believe a large
part of our obstacles would bc removed.
business men let politics too severely
alone They should go into politics and
see that clean and honest men arc nomi-
mated for Office men who want TO do tho
| right things
The public sentiment against business
would be changed If tho public understood
! that business men are honest. The voters
have the power In this country. and they
ought TO be considered.
MIR. Parsons thought that public service
commissions were good things. and ought
10 be encouraged. When II came TO a ma
| tional commission 10 regulate the prices Of
manufactured articles. however. he thought
government control was being carried too
| far
lie put his opposition on the ground that
| the diversity Of manufactures was too
great for a government commission TO at
tempt to take cognzance Of even a small
I part Of the products.