Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1917-03-21

Increased cost of operating the new lines
| the company is able to save even twen,y
five per cent of that gross increase, lte
| surplus for the year will be 81 4,5O0.0Oo. De.
duct from this $1,000 900 to cover interest,"
| and equipment cost. which Is not now %
| charge and sl,50O.O0o for our DIVIDEND
| and there will still remain S2.OOO,0OV sur
plus. of which the city will get $1,bOo,ooo'
| or an interest return of four per cent Oh
| $45, ,000. 900.
"An outlook such as this need give the
| city no concern II the company does no
| better than a four per cent increase wnicn
means that the city will get no better IMAM
| o two per cent increase i'm population, there
could not possibly in 1923 be deficit OF
| interest and sinking fund charges Tor the
city to meet out of its general fund greater
than $i,00O,0O0 or sl,50O,0o0'
MAXIMUM DEFICIT 1882
The tables in the report show that accord
ing to the Directors estimates the maxi
mum yearly deficit will occur In the year
1892, when il will reach the grand total or
s5,157 900 In 1855, the first year Director
Twining finds that the city will realize
profit from the system the city's share OF
the net surplus will be s23S, 900, according
to the computations.
From that time 1t Will increase gradually
until in 1867. the year OF the termination
of the lease. the city's profit from the high
SDeeu system VIII De SS'lpV'VVV'
From the point of operation alone and
assuming that the city is not required to
surrender the payments from the Transit
Company fixed under the terms OF the
1907 contract, the city, according to the
Directors estimates. would realize profit
first in the year 1850, when 1t would be
$4,000.
Upon this basis the greatest annual def
cit would be $4,425,00O. and this would re-
main the same annually between the years
1925 and 1892 inclusive.
The tables containing these various esti-
mated results of p. r. r. operation the
Director will submit to the Public Service
Commission today The commission has
indicated that it will take no action upon
the pending applications for certificates OF
public convenience until IL has at its dis
poSa additional data.
Although the Director originally did not
intend 80 make these figures public until
his report reached the Mayor and Councils,
he determined to submit the operation tables
to the commission az once IN the hope that
It would fit TO grant the desired GER
tifiCates without further delay
The Director also will submit to the COM |
mission today estimates showing the cost to
an independent operator to equip the various |
units of the hgh-speed system. More than |
a week ago the Commission received from |
the Transit Department estimates showing |
the cost to the Philadelphia Rapid Transit |
Company 10 equip the lines. That estimate |
and the one submitted today will be con-
sdered together, and it is expected that IA |
public hearing will be called in order to
have the department explain IN detail the |
significance Of the various tables
COST TO INDEPENDENT
The cost TO an independent operator to
equip the VARIOUS units of the hgh-speed
system, the Director estimates. would be
as follows:
Irankford IL" SO. ESQ. 600
= Broad st, tube delivery loop. $4,000
'arkway Northwest subway.elevatcd. so255.. o5. ooo
3yberry' .,...............,.... 1000 |
The total original equipment should the
ines be run by an independent operator,
would cost 81 0SS, 900, according =. the D-
ector's estimates. as against S17,oI3, 900 for
he equipment cost assuming P. r. T. op-
ration.
During the first eleven years Of operation ,
,f first line or up to 1880. the equipment
ost to an independent operator would total
'21 1,241,000 as against s29S26,000 with the
ransit company as the operator, the Di-
ector estimates.
Translated into terms of service to the
idng public. the Director estimates that
lnder an Independent operator with the rid. |
RS on the high-speed system paying an.
ther fare to change to the surface lines ;
he traffic would be so much lighter that
s,5s5,ooo worth less equipment viii be
eeded TO meet the demands during the
rst eleven years until 1880.
Work on the Frar1iford elevated, which
vas suspended at the beginning of the
winter. will be resumed within day or
wo. according to announcement of Director
winning. The immediate work will be fill-
ng the steel-supporting IL" columns with
concrete.
The erection of the steel superstructure
fter the columns have been filled will begin
'pril 2. The department has also received
office from the Philadelphia Rapid Transit
'ompany that the company is ready to
roceed with the widening of the tracks
n Frankford avenue, where the center
olumn Il work is ready to be carried
onward.
The department has been waiting more
nan SIX months for the Transit Company
o spread its tracks here in order that
enator Ware, who holds the foundation
ontract for this section, could begin work