Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1914-12-15

Ing, Thursday. December 10. 1914,
tiitoriuT.
We, your Joint committee, repre-
citation, The East End Progressive AS
ISOLATION and the East End Citizens
association. appointed and instructed
to prepare resolutions concerning tho
proposed franchise ordinance of the
virginia Railway and Power Company.
now before the representatives of rhe
people for their consideration and
disposal Of beg leave to report for
your consideration and adoption. and
! Jefferson Ward for their consideration
and approval, the following needs. de-
| sires and demands for the protection.
comfort and speedy transportation OF
the public:
Whereas, the taxpayers of our city.
through their ballots, have empowered
to sit In the Legislative councils and
others of them to attend the executive
functions OF our municipal government,
we realize that from time 10 time they
| are confronted with questions affect
Ing the public good of so serious and
Important nature. as to make both
desirable and necessary an eNprcsso on
of the public Will thereon. If we nre
TO maintain peoples government
Resolved:
!. That there are two fundamental
principles concerning the introduction.
prises engaged in rendering public
service. each entitled to tie same con-
Germ and consideration: iirst, the pro-
extent of earning a fair and eason-
able profit on the amount actually
invested; second protection to life and
the public.
2. That corporations owning. main
tanning and operating great properties
In Richmond. employed in public serv-
ice. are vitality interested in the gov.
ernmental principles of our city, and
owners and taxpayers for them to be
, heard in argument or in protest before
the bar Of public opinion on all mat
public relations, il is also fair and
right for the public who hear the
thoughts and ideas expressed to know
8. That the Virginia Railway and
Power Company has. through grant,
purchase or otherwise, intrenched it
self in our midst. gigantic, privately
owned monopoly, operating under Ger
tain rights and privileges of varying
! terminating dates which might possibly
posnl OF bonds or stocks, were the
said company new corporation seek
ing to locate or. ca pitalize on the basis
or valuation. Of the franchise secured
owing to their capital being already
invested in properties and securities
which we believe to have an earning
capacity for fair and reasonable profits
sufficient to take care Of proper equip
mentS and extensions. we are unwill-
privileges for an unreasonable num-
Der OF yea"s on which they may ra-
capitalize -r i'm excess of their needs.
4. That to place a valuation on pub
lie service corporation franchises be-
You'd the actual legitimate cost of Sc
curing such grants to operate over
not belong to the petitioners acquiring
such privileges, is morally wrong, and
a gross Injustice. to tho holders of
stocks and bonds in such corpora lions,
and, often expensive to the public.
5. That our children and their de-
scendnntS are entitled to protection Mt
reasonable term of grant when deal
ing with private moncpolies: for the
sole purpose of monopolizing products
wherein may be demanded or exacted
larger profits than could otherwise be
obtained were there competition to
6. That 1t is mentally impossible to
fathom the undevclopcd genius in the
production of inventions in connection
with street railway and light and
power service, which might possibly
reduce the operating expenses SUN
eeny to 1nsty 9ar eom ra redc
dered, OF to anticipate the needs Of
the future concerning these things. a
exceed ten. years would be wise. fair
and just for If the bond and stock
holders Of public service corporations
gence, justice and fairness Of the peo-
Pile to whom they have rendered
proper service for ten years to renew
their grant, we are unwilling to risk
the loss Of possible unforeseen ben
efts for an unreasonable long term
grant. thus fastening upon ourselves
and the future generation possible
burdens.
z. That we deem the existing street
railway routes east OF Eleventh Street.
and north OF James River, necessary
for, the speedy transportation, comfort
and convenience OF the public 20 and
from their established homes, places
of business and employment, for the
reason that large percentage OF said
established places were located on nc
count of their close proximity to the
existing routes. and that the aban-
donment of any part OF the existing
routes will result in the economy Of
operating expenses to the disadvantage
OF great expense to our merchants
now established along tho existing
routes. By reason OF having TO meet
proposed change in transportation con-
ditions and the patrons of the line
confronted with lelny IncoDvapfenca