Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1912-01-19

VINO are present before any use IL
made of it."
ooh that, of course" said Liffey.
"Chief, don't make any moves without
submitting them to me-"
There is still another matter Of
interest to us all which must be set
tied" continued Haldane.
Whats 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
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 we'll.
All we've got to do is to draw up an
ordinance and shove it through. The
mayor here'Il sign it. and thatll be
the end Of it."
ut is by no means as easy as you
think, Liffey,' said Haldane. "If /
know anything about Gormly he'll
make fight on that issue. That is
our weak point. If we had that fran
chise safely passed and in our peck
cts, we could laugh at him. | don't
know whether it 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 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, Il 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. I 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
pletfOn 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 unoficially as it were,
and then when we have won the cleo
ton, we avail ourselves of our oppor-
tunities, we shall be in 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
We'll, what do you propose then"
"This. Would 1T 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
fer action until after the election and
let the election determine"
THAT would be wise course said
Haldane. 81 don't know but that it is
the wisest course; but we must face
the alternative"
What is that?"
Defeat! If we made that proposi-
ton, and then were defeated, it
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.
1.-TWO hundred and fifty millions
from the people, and-very little
else" answered Haldane.
GLOW 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 will pay fair
dividend on all the stock that has
been put out, most of which is held
bv our friends and the friends of the
organization" answered Van Slyke.
The problem was tremendous one.
They faced it silently moment or
two. and at last Haldane restated it.
"You see, we can, if necessary, defy
public opinion and jam through an
ordinance at the last minute even il
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
until after the election, in the hope
that the postponement will be our
strongest card for winning. I tell you.
gentlemen, that other interests of
greater magnitude would be involved
in the fate of the Gotham Freight
Traction company
"Whv in the name of all that's |