Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1917-08-17

| Eleventh. The remainder. II any Is TO he
divided 30 per cent to the city and 30 per
cent 70 the company. as provided in the 1907
contract
The foregoing payments are TO be cumu.
lativc in the order named
tThe order OF payments Is SO formulated
- - 10 eIllninate any possibility Of flve-cent
idres ana universal free transfers
r. AT tho beginning the fare will be five
cents on the cty's lines. On the companv.s
lines tho present fare will for the presen, be
| retained There Will he free transfers be-
,weeh ~ the clty's lines. (2) the city's
i'"cS ana the Market street subway elevated
''ne' (") the clty's lines and tho company's
lines except in what is designated the "De-
livery District"
Both parties 10 the contract rccoenize Tho
right OF the Public Service Commission IN
determine what is a Just and reasonable
rate Of fare. Whenever the gros, reverro
for six months is not sufficient to INV ALI
prior charges and dividend of per cent TO
the company, tho city conceding the fairness
OF such dividend, the city agrees to join
In n petition to the commission for a deter
mnation OF what Is proper rate Of fare
THE city. not only agrees TO Join in n
petition for higher rates. but the city knows
now that under the lease II intends TO get
such higher rates. The mention OF initial
operation under n fve-cent fare and eight
cent exchanges is likely merely to fool the
people as to the true intent and purpose
of the agFeement.l
II. To regulate the service and geuer-
ally supervise tho operation Of the unified
system, board Of supervising engineers
will be established. The board will consist
OF three members, one appointed by the
city. one by the company and the third
jointly by the Mayor and the president os
the company,
The board will have the power. among
other things:
First TO report to Councils on the ad-
visibility OF extensions OF the cty's lines
and extensions of the company's lines. and
Of its own initiative to petition the Public
Service Commission To require the company
to construct extensions OF It's own lines
Second. To supervise the plans for and
the cost Of transit facilities.
Third. To establish rules and standards
as to maintenance and service. regulate the
routing of cars establish stations and stop
ping points and determine the adequacy of
equipment.
Fourth. To recommend to the public
service commission changes in fares.
Fifth To decide upon the amount and
classification of the depreciation and con-
tingency reserve funds and to act as
trustee therefor.
Sixth. To act as a board of arbtra-
tors on any question arising between the
city and company under the contract
1.-THE powers of the board sink into rela-
tive unlmportance compared with the pre-.
cariousness of tenure of office of the men,
bers Of the board and the utter impos.
sibllty OF their ever being able to main
tain position distasteful to the company.J
!, The term of the lease will expire
on July /. 1867. which is the date fixed for
the expiration Of the 1907 contract
1.-THE usual ffty-year term.l
]. As under the 1907 contract. the city
may. on and after July l, 1857 purchase
all of the company's property by paying
to the company the par value OF its capital
stock outstanding at the date OF purchase. |
In addition TO this right. between July I,
1927, and July /, 1857. the city may pur-
chase the property Of the company by pay.
ing like amount, plus any shortage OF
dividends on the company capital stock now
below per cent for each year
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