New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-24
2.Cent Transfers
Asked of P. S. 6.
By Transit Lines
AS Alternative Shonts
Urges That Slip System
Be Abolished

Formal applications for permission
to charge 2 cents for transfers. or
otherwise increase their revenuee,
were filed yesterday with the Public
Service Commission by the New York
Railways Company. the Brooklyn
Rapid Transit Company and the New
York e. Queens Railway Company.
The Third Avenue and the receiver
for the Second Avenue lines will file
similar petitions to-day.
As an alternative to cent charge
for all transfers, Theodore p. Shonts,
speaking for the New York Railways,
asks that the transfer system be abol-
ished. The Brooklyn Rapid Transit
Company is less sweeping in its de-
mands. agreeing to let the present sys-
tenn of Coney Island transfers stand
and to make no change on the small
lines known as feeders. The New
York & Queens asks no specific relief
s9OO,00 Increased Revenues
On the basis of a 2 cents charge for
transfers, Mr.. Shonts, taking the fig
transfers was 100000 below the
four-year average because Of the
strike, and assuming that approximate
ly one-half Of those who now make
part of their journeys on transfers
will walk part way, estimates the in
crease of revenues at 100000. On the
basis of the four-year average, the in
crease would be about Sl,00O00O.
The proposed gain in Brooklyn Rapid
Transit revenues, by additional charges
for transfers. Colonel Williams est
mates at Sl,200,000. This. as in the
case of the increase on the New York
Railways. would be paid by approx
mately 25 per cent of those who use
the cars of the two systems.
The petitions were referred to Will
lam l.. Ransome. counsel for the Pub
lie Service Commission. with a request
that he advise as to the procedure to
be followed under the law, and more
specifically if the petitions may be
massed or a separate hearing given on
each. On the receipt of his opinion
orders for hearing will issue.
Opposition to Change Bitter
1t is possible that at least one hear
ing will be held in Brooklyn to &C
commodatc the protestants in that bor-
ough. From the informal protests al
ready lodged with the commission. it
is certain that the opposition to any
change will be bitter.
The New York Railways Company's
petition outlines the financial organi-
cation of the company In it the as
sertion is made that the company has
never paid a dividend on it's stock. all
of which is held by the Interborough,
or the full per cent on its income
bonds.
Last year il states the company
earned but S2,43l,4l6, as compared with
a five-year average of $3.765,814. To
pay the full per cent on the income
bonds and dividends on the stock s5,-
4S0. 626 would be required. There is
prospect. the company states. that its
income will be further reduced by the
opening of new subway lines and the
increased cost of materials.
For the Brooklyn Rapid Transit
Company Colonel Williams states that
it's net revenue of 5.91 per cent on
what he asserts is the valuation of the
coppany's property is inadequate. He
also says that the revenues have been
decreased by transfer orders. and that
a further reduction is in sight through
the operation of new rapid transit
lines.
The New York & Queens had def
icit of S294.570 last year. according TO
President Wood. In nine months of
the present fiscal year. he said, the
deficit was 1887 .00C. or. exclusive Of the
costs of the strike, $4,000 more than
the deficit for the same period of last
year