The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1916-01-31

concerned, I can only regard it as
temporary Investment"
'sWhy temporary" demanded Frank
Marley, who was feeling particularly
capable this evening. His $4,000
worth of street railway stock had been
increased to 1892, 500. He was to have
$S7, 800 cash out of the undivided sur
plus of the old company, and his daugn-
ter, Molly, was the most popular girl
at the governors ball. 1.-The street rail
way company has always made money,
and the city needs additional trans
portation facilities. We have reached
the normal period of extension, and I
do not see what is to prevent US from
imitless prosperity"
'sThe franchises Senator Allerton re-
minded him. 'EYour present permits
have less than five years to rum
81 have never had any trouble in hav-
ing them renewed objected Marley,
priding himself on his management
''Times are changing" sighed A1ler-
ton. There is a growing disposition
on the part of the public to charge pub
lie service corporations for the use of
public property" -
The people are ungratefu1,'' mourn
ed Governor Waiver, who had enriched
himself through furnishing electric
light at his own price to a public
which had known nothing better than
gas. THE moment they see a profit
on their 1uxuries they want part of it.
An undivided surplus such as the street
car company has had is a constant
menace
THAT was sinking fund for extern
s1ons and improvements, Marley re-
minded him. 1.-THE stockholders had
no right to ask for q division of it,
They would If we had not put it out
of harms road,'' insisted the governor.
That much has been saved to the
men who really earned it, but I should
not like to see a similar profit exposed.
To my mind, a z per cent dividend is
an even worse folly
1T gives confidence in the stock
argued Marley. 1.-THE public would
2cver be so eager to take up this new
issue if it had not been for that Z per
cent dividend
That's what it was for,'' interpo-
lated Sledge, looking out of the win
dow into the sunken garden and vain
y hunting the hand hole in the gate.
i ut has served its purpose granted
AlIerton, but taxpayers are becoming
greedy. When they see the stockhold-
efs OF public corporation making
per cent they want some of it and try
to make the corporations pay part of
their taxes. In every city of fmpor-
tance the voters are demanding pay
for street car franchises and making
the street railway companies, in addi-
ton, bear half the cost of all street
improvements
"It's a bad outlook agreed Cover
nor Waver. Frankly, as soon as 1
receive my new issue of stock 1 shall
have it quietly placed on sale.'
Marley looked at him Indignantly.
why, the street railway company is
entering on the greatest period of
prosperity in its career" he asserted
''Theren be no trouble about fran
chises. The city is wild to have the 4
improvements and must have them"
Allerton looked at him wonderingly.
tWaver is right he stated 81 shall
sell my own stock, and I'll venture to
say that Sledge has already made ST.
lent arrangements for disposing of his.
Do you know that the franchises at
present granted in this state are rev.
ocable and that it is not possible to.
secure one which is positively safe for
longer than ten year periods? When
you come to the renewal of your fran
ehises, Marley, you will be met with
demand for pay and will have other
restrictions imposed on you. Our pres
ent franchise law, in view OF the pub
lie tendency, is bad one for in
vestors}s
Lets tx it, suggested sIedge.
sTm afraid it's too Late protested
Allerton:
mot for new gag,'' dissented
Sledge. ga new one can be put over
quick
Il fancy that there should be protec-
ton somewhere opined the governor.
me matter what changes in public
sentiment, the investing class, upon
] which the public depends for prosper
sity, must always be protected
"But how?" inquired the senator.
How in this particular case?"
"Head 'em off," grunteda Sledge.
I'm keeping my stock"
SID be glad to hold mine" stated the
senator. but how is it to be made of
future value?'
That's up to you,'' Sledge replied,
rising. Figure it out and see me to-
morrow. Marley, I want to talk to
you
MFR. Marley, today a man worth over
a third of a million dollars in the street
railway stock alone, arose In offended
dignity. He was trife too impor-
tant, too capable and too wealthy to
be ordered about like a messenger. boy
by man who might shortly be con-
victed criminal. Molly had arranged
an interview between her father and
Bert on the previous afternoon, and
Mr.. Marley also now knew a thing or
two.
ri would suggest tomorrow" he stat
ed coldly. ct should much prefer to
talk with you during business hours
This amt business said sledge,
leading the way into the library where
he took seat in an alcove.
Marley followed him reluctantly.
eff it is my family affairs he be-
gan in protest.
"Sit down." directed SIedge. Bert
Glider has been making threats against