Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-10-27

Cemetery to Paschall avenue, via Pas
chall avenue to Grays Ferry avenue.
via Gray's Ferry avenue to Woodland
avenue via Woodland avenue and for n
short distance via private right of way
10 Darby.
The cost thereof will be 81, 100000.
tI A subway elevated line extending
from connection with the delivery loop
at City Hall Station. under the Park
way to North 29th street, thence via
North 29th street to Henry avenue, to
RoXborough.
The cost thereof will he ss5oO,oOO.
He calls attention to the necessity OF
preparing for the construction of this line
by the opening of the Parkway, by the
grading Of Henry avenue and by the con-
struction of the Henry avenue bridge over
the valley Of the Wissahickon.
The construction of this line will have
TO be deferred until this preliminary work
Is accomplished.
The cost of the first three mentioned
lines will be s45 10000.
p. r. T.'s SHARE.
Director Taylor and the management
Of the Philadelphia Rapid Transit Com
pany have agreed upon program for
transit development" whereunder the
Philadelphia Rapid Transit Company as
sumes to equip and operate these munic-
!pally owned high-speed lines, If and when
built, in conjunction with the present sub
way. elevated and surface lines Of the
city In a manner which will furnish
the people of Philadelphia with rapid
transit facilities between all important
sections OF the city and enable the peo-
pie to travel from practically every point
in the city to every other point In the
city, quickly conveniently and comfort
ably, for one scent fare by the joint use
of existing surface and high-speed lines
in conjunction with the municipality own
ed high-speed lines.
In securing the Philadelphia Rapid
Transit cooperation TO the extent pro-
ylded In the program II has been ar
ranged that the Philadelphia Rapid
Transit Company shall be protected out
Of the earnings of the municipality owned
high-speed lines 10 an extent sufficient
to offset any loss In its existing net
earnings which the Philadelphia Rapid
Transit Company may suffer by reason
Of the net diversion Of its existing net
income 10 the municipality owned high
speed lines, resulting from participation
In the cooperative program Director
Taylor has thus very properly gone the
limit Of fairness.
EXCHANGES ELIMINATED.
Under the terms Of the program, the
Philadelphia Rapid Transit Company
undertakes to eliminate the scent ex-
change tickets, which are highly discrim-
natory against persons and localities and
which many leading members Of the bar
nave branded as Illegal, and to issue free
transfers In their stead.
The carrying out OF the program now
awaits the action Of city Councils on the
me part and the action OF the stock
holders Of the Union Traction Company
IN the other part.
The time has come for COuHcilmen
md Union Traction stockholders to heed
he voice Of the people Of Philadelphia.
A prompt decision on their part Is de-
handed by the public.
The program provides, among other
htugs that the Union Traction Com
lany will De relied upon 20 aid in Sc
'uTiug only such funds as VIII be re-
lured for the normal extension of the
Nisting system, which viii be greatly
essened by the establishment or the
lew high-speed lines,
The par value Of the Union Traction |
tOck is $50 per share, Of which amount |
,nly 3l75O has actually been paid In.
Therefore, there remains an obligation |
,n each stOCkholdeT 10 pay the remain /
Ter; namely s3250 per share, when and |
Is called for BY the board OF directors. |
each stockholder Is personally liable for |
md bound 10 make such payments IN |
Ter the laws Of the state Of Pennsyl-
'ania.
II has been stated that the normal |
requirements for the extension Of the !