Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1917-09-28
Party Movement Popular Aliens Can't Dodge Behind
BUSINESS MEN ASK
NEWTRANSITP
United Association Solidly
Against the Smith-Mitten
Lease
INDORSE SIX PRINCIPLES

The United Business Mems Association
Of Philadelphia has come out soldly against
the Smith-Mitten transit lease. Following
a two-hour discussion OF the various pro-
visions of the lease, during which numerous
acrimonious personalities we're exchanged,
the delegates from the seventy-fve sssocia-
tions comprising the United Association,
gathered at the Hotel Bingham last night
unanimously indorsed six fundamental prin-
ciples which they will insist be incorpo-
rated IN the lease.
Four Of the six principles support the
objections to the lease raised by former
Transit Director A. Merritt Taylor. Mr..
Taylor said today that the action taken
by the United Association was OF the great
est Importance.
The association went on record in favor
of the suspension OF all construction work,
excepting the Frankford 81" and the other
contracts already let, until prices have be-
come more nearly normal. This action was
taken only after bitter debate, in which IL
was charged that some members OF the
association we're trying to make 1t the TOOL
of the Philadelphia Rapid Transit Company.
william Hancock, former president of the
association and one Of the city's three men,
bers on the T. r. r. directorate, was ac-
cused of unfarness to the association ana
Of trying to carry water on both shoulders
by william A. Dunlap, president of the
Falrmount Avenue Association
MEAN A NEW LEASE
The six principles which the United
will demand be written into the Smith-
AIitten lease and which will mean virtually
a new lease we're presented as the JOINT re-
port of the transportation and law commit
tees and the board OF directors lnese p'''-
ciples follow:
The permanent abolition of the three
cent exchange ticket and all regulations
of fare vested In the Public Service COM
That no guarantee should be allowed
by the city of cumulative per cent
dividends or any other cumulative dll-
That the creation OF Soard of super
vsors such as is proposed should pe
THAT explicit stipulations should pro-
| vide for the needed facilities, extensions
and Improvements in the present surface
system.
That as one Of the difficulties in draw
| ing a satisfactory lease Is due 10 the
large amount of water or unpaid capltaI
| in the underlying companies we oPPtVSse
the consummation of any lease with tne
| Philadelphia Rapid Transit Company tiaL
| guarantees the rental of the uhderlElns
companies whose whose cap. capita, I,oS STOCK &c N,ncuded
by which the city, the Philadelphia Iapiu
! Transit Company and the underlyihE
| companies agree to gradually retire tue
stock of the underlying companies about
| every five years by the city purchasing
this stock at fair valuation
| That the lease should be reNIlllCu III
| PLAIN and clear terms and as far as pos
| sible in a concise form, and the reter-
| ences from one part of the lease TO an
| other part of the lease should be 50
/ arranged as to be intelligently and more
easily understood.
| Edwin NJ Abbott chairman OF the law
committee who presented the report en-
| bodying the six principles, made 1t clear
1 that the action of the association did not
| mean that it would now turn back to the
old Taylor lease.
| TAYLOR LEASE OPPOSED, TOO
Some time ago." he said, "a lease known
as The Taylor Lease was rejected by Coun-
| ellis after this association had objected to
| the same We still maintain the same unan-
| imous position in regard to the Taylor lease
| as we did when we rejected it."
| G. Oscar Beasley. counsel for the over
! brook Association, made a strong plea for
| elimination of the underlying companies
] with their watered stock Those who defend
| the legal right of these underlying COM
panies to keep their watered stock he scored
bitterly, among them former Transit Direc.
| tor Taylor.
81 talked over this matter with Mr.. Tay'
lcr," he lid. "and lie insists that this water
| cannot be disturbed because it is protected
| by contracts, and contracts are sacred. In
| other words Mr.. Taylor means this is holy
! water"