Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1917-10-05

Doctor Lewis, who told MIR. White that he
was under a misapprehension. He indl.
Gated that the amendments to the lease had
been prepared, but said that they would not
be offered until the discussion of the lease
at the public hearings had come TO an
end
There was a noticeable falling of in at
tendance at the hearing today as compared
with the two previous meetings. The hear
ing began twenty minutes late because
Chairman Gaffney had to send the sergeant
at-arms OF Common Council out in the cor
ridors and various anterooms to find enough
members of the two committees to make
quorum.
James Collins Jones, counsel for the
Chamber of Commerce, was called as the
first speaker. In calling him. Gaffney said
that Director Twining had been scheduled
to make the first address, but that he had
agreed to give place to Mr.. Jones.
William Hancock, one of the city's three
representatives on the Board of Directors
of the Rapid Transit Company whom Mr..
Gaffney had invited to speak today, sent
letter saving he was compelled to be out
of the city on business
The Board of Trade likewise failed to
send any representative to speak in response
to Gaffney's invitation. William Il. Tucker,
that although action on the terms of the
lease itself had been deferred, the Board
stood by the report of its committee on
municipal affairs, which recommended that
the entire lease question be laid over until
construction prices had dropped to normal
LEASE GOOD BUT NOT PERFECT
Mr.. Jones in making the opening address
said he would not attempt to speak with
verbal accuracy, but would point out the run
damental differences between the Iayior
lease and the Smith lease, which he tre-
auently referred to as the Twining lease.
THE Twining lease" said Mr. Jones, rs II
credit to the man who drafted 1t. / Con'
slider it an excellent document one TO be
proud Of and to be lived under satisfactorily.
There are, however. number of objections
TO il in it's present form. | would take par
ticular exceptions to the sinking fund clause
and general exception to others. Inc
craftsmen of both documents make certain
concessions
They concede the need of the high-speed
lines being operated by the Rapid Transit
Company and that the capital invested by
the company is entitled to fair return
After that all is controversy. Mr.. Twinng
thinks the deficit ought to be covered by
car riders unless the city finds itself able
to help. ! find no guarantee in either lease
and no substantial fault in Taylor's general
attitude | want to discuss the attitudes
point upon which both sides could agree.
The city agrees to make per cent re-
turn"
At this point Mr.. White, of counsel for
Mr. Taylor, objected to the ( per cent and
said that the return was 8 per cent.
Chairman Gaffney asked Mr.. White to
postpone questioning the speaker until
after he had finished, saying that 1t would
be a more orderly manner of procedure.
FUNDAMENTAL DIFFERENCES
Continuing. Mr.. Jones said: THE fund9-
mental differences between the two leases
have ed to an immense amount of con
fusion, and nothing could he done until the
craftsmen get together and decide upon
some settlement Of their fundamental diff
ferenCes'
Mr. Jones added that no questions OF
detail could be taken up until the under
lying financial problem was disposed Of
He also asserted there would be no divi-
sion of profit, in view of the fact that the
Public Service Commission has the power
to reduce fares, and would DOUBTLESS give
the benefit of any great financial profit
| to the rider. In speaking of the question
| of profit, he said
There is going to be no profit. The
| citizens of Philadelphia ought to under