Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-01-16
UNION TRACTION MEN
FOLLOW ELKINS


| Continued from Page One
of this company adhere to the idea that
| old methods will prevail and will block
anything inimical to the wishes of GER
tain men That day has passed Methods
have changed. It Is folly TO assume that
| Philadelphia will permit any interests to
block such greatly needed facilities
Rapid Transit on Director Taylors
basis is inevitable. There are two alter
natives for Union Traction stockholders.
The first is to assent to the plan.
Director Taylor advocates the payment
OF 6 per cent on the additional capital
invested by Union Traction stockholders.
Naturally the city could not guarantee
this However, the Union Traction stock
holders would have a much more valuable
property backed by the strength of the
moral support OF the city Perhaps they
Nigh. eventually have a full-paid stock
''ln the latter event. the stoclholder
would receive almost 10 per cent on the
par value OF $50, and his stock ought to
have a market value of somewhere around
$50 or more a share.
''The other alternative Is to oppose the
plan. Those who do this should realize
that the new system is as sure 20 come
as anything within reason ls COM
plete elevated and subway system could
obtain the capital necessary without diff
Guilty, because such systems are profta-
BILE
OPPOSITION ILLOGICAL.
ut Is for the Union Traction stock
huldc~s to recognize what the effect or
tb., opposition system would be upon the
present entire transportation scheme.
Those who have given full thought 10
this and who nave many friends inter-
ested in the Union Traction property
strongly advocate the assent TO Director
Taylors plan without reservation.
Indeed, II is my belief that If the ma
iority of Union Traction stockholders
were to make known their assent, that
Union Traction stock would Immediately
be selling at higher prices
IAN idea similar to that has been com.
municated to several of our clients who !
own stock and they have without hesi- |
tation assented TO Director Taylor's |
plan"
Fred Y. Chandler, OF Chandler Broth
ers Company, said that high-speed lines |
must he built in Philadelphia, and very |
socn.
UNION TRACTION SILENT.
The Balfour interests in the Union
Traction Company. which have steadily
opposed Director Taylors plans, refused !
to comment upon Mr.. Elkins' statement
today. Robert A. Balfour, who represents
in the Union Traction Board of Directors
these interests, which hold $4,000 shares
of stock, is i'll. ]. G. Balfour his brother,
who, with j. NJ. FoEclsanger, some time
ago presented protests to the board of
directors against the Union Traction
Company taking any action on Director
Taylor's plans, refused to discuss either
Mr. Ekins' statement, or the probability
Of these protests being withdrawn in view
Of that statement.
Mr. Fogelsanger said that so far as he
s concerned, he will stand by the pro-
tests.
Francis Skunk Brown, co-trustee of the
Durham estate, which is heavily interest
ID in Union Traction stock, and which has
opposed Director Taylor's plans from the
start, refused to discus the situation, on
he ground that he is only a trustee for
| large amount of the stock. lie person
lilly owns only a very small amount of
he stock, he said.