Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-13

| Po77Vi'bel" WHO Nse tne nlkh-8neea lines.
Thus the advantages Of repid transit viii
be eStended as equally ne practicable TO
every front door In Phindciphia
Passengers will be enabled to travel In
| forward direction for one scent fare
| between every important section OF the
city and every other important section OF
the city conveniently, quickly and com.
| fortably by way OF the combined surface
| and hish-speed lines. regardless OF the
number Of transfers required in 80 doinE.
Recent legislation has clothed the city
| with the legal authority financial ability
| and executive machinery to construct,
| and " necessary TO equip and TO operate,
! these facilities rs well ne surface lines.
q constitutional amendment IN process Of
| adoption VIII provide many additional adj
vantages IN financing the undertaking.
we recognize the Importance Of CO.
! operation between the city and the com.
| pany In establishing these new facilities
In manner calculated 20 best serve the
| public.
I'VE also recognize the Importance Of
protecting against destructive competl.
ton capital which has been Invested in
the existing system.
FINANCING OF PLAN.
THE program as arranged provides
that the existing company shall receive
annually out OF the earnings OF the mu-
nicipally-owncd lines:
Il. Interest on the company's investment
In equipment
20 A further payment which will sus-
tain the company's normal net income
gained prior to the establishment Of the
municipally-opned line or lines AGAINST
decrease or logs due to the company par
tlcipatins in the cooperative program a.
stated therein.
1T further provides for the elimination
pf ha fr1Nip
ticket now in use in certain sections OF
the city, In manner which has been ar
ranged between the officials Of the com
pany and the department.
This program still awaits ratification |
by the underlying company, which Is |
called upon by the operating company to |
supply annually the amount OF additional |
capital which may be needed for the |
normal extension of the existing system.
CITY TAvoRs ENTERPRISE.
"Phlladelphlans are practically unani-
nous In urgently demanding rapid transit |
facilities and free transfers. No lndivld.
ual or obstacle can withstand the united |
public In this matter
''As the citizens are determined to es-
tablish adequate rapid transit facilities,
they Will be established.
I'VE expect the existing companies to
welcome the adequate protection which
the program for rapid transit develop
ment affords their stockholders against
loss to their present net income by reason
of their cooperation.
THE use OF the public credit in such an
enterprise as this Is essential and entirely
justified
THE city gets an almost indispensable
modern utility.
The people obtain wide and comfort
able range of movement and enormous
and valuable time saving.
THE city gets great increases in tax
able values and o nevenuc-producinE
which, with the growth of the
city, will not only become more than self
but will reap out of earnings
It's entire cost.
THE city will thus ultimately own the
high-speed system as a great income-pro-
duclng municipal asset, with the entire
cost thereof repaid out of earnings.
SUBWAY AND ELEVATED.
1--WE are now designing and preparing to
the recommended subway and
elevated railway lines. That they will be ;
and operated there is no
doubt, for in the event OF failure upon the !
,art OF the existing company to cooperate
ls provided, an independent operator can |
readily be obtained to equip and operate
he municlpally-owned high-speed lines |
ipon favorable terms. As n very last re- |
sort, the city itself is thoroughly compe-
-thl " eHulp anu ppcIblC lne laClllleS I
or permanently as a munich {
pal undertaking.
we do not expect the existing company I
% cooperate with the city In establishing
he rapid transit lines In manner which 1
will reduce its existing net income. On Q
he contrary, we are extending to the
existing company adequate protection
IEalnst any such loss In consideration OF
Is cooperation. Therefore, no loss can
'ome to the company by reason OF the
ity's action unless the company should
lecine to cooperate and to accept the
proftered by the city"