Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1917-05-24
Bankers May Offer
to Lease Speed Lines
Continued from Pare One

Continued from Pare One
personal legal adviser in the transit neEotia-
tions. The conference has been called, but
no definite date has been set, although II
probably will follow Immediately the Joint
hearing tomorrow before Councils Finance
and Street Railways Committee.
NO MORE BIDS FOR THE PRESENT
Transit Director Twinng today an
nounced that no further bids would be
asked for any lines on the hlgh-speed sys-
tenn excepting the Frankford elevated until
the Public Service Commission has granted
the necessary certificates Of public con-
venience. Contracts which will total nearly
s15,000,000 for the delivery loop and for "A
long section OF the Broad street subway are
now being held up to await action by the
commission Prices have changed so mate
rally since the bids for these were opened
that 4 may be necessary for the city to re-
advertise for the work
The transit department is considering
seriously whether or not II would be ad-
visable to defer virtually all construction
work except the FrankfOrd Il" until the
present high prices have dropped. No
definite decision will be made until after the
Mayors conference.
That such a step would be satisfactory
TO the transit company is known Hints
have been made from time to time that IL
the city only would postpone further con-
agreement satisfactory to all might be
worked out At the monthly meeting Of the
p. r. T. board Of directors on Monday OF
this week, Mr.. StOtesbury Is understood to
have made such a statement
The publicity department OF the Pennsyl-
vania Railroad denied today the report
published In morning newspapers that he.
cause or the transit lease controversy the
company had abandoned further considera-
tion OF Its plans for rebuilding Broad Street
Station.
Every effort Of the Transit Department
to have the audit Of the books of the Phila-
delphia Rapid Transit Company completed
In time for the hearing tomorrow before
Councils Committee on Finance and Street
Railways seems doomed TO defeat.
The audit was first promised Director
Twining In time for the hearing last Friday
Later Controller Walton, to whose depart
ment Councils appropriated $lo. 1000 to make
the audit, said IT would certainly be ready
in time for the legislative hearing last
Tuesday. Today the Director declared he
would make a last effort TO have it ready
for tomorrow. The audit is being made by
Lybrand. Ross Brothers & Montgomery,
expert accountants.
Chairman Gaffney. OF Councils Finance
Committee, today declared that he would
never give his consent TO signing a lease
with the p. r, T. until this audit was COM
pleted.
P. r. T. HINT OF HARMONY
letter received today by Chairman
Carney, OF Councils Finance Committee
from Ellis Ames Ballard, chief counsel of
the p. r. T., was interpreted as a step to-
ward harmonizing one portion OF the pro.
posed lease.
At the hearing last Friday Mr. Ballard
said that II the city would equip the new
transit system the transit company would
be willing TO modify the clause permitting
IL, without consent OF the Public Service
Commission, to raise the rate OF fare II al
the end OF any six months period the gross
Income Is insufficient TO pay all Of the ex-
penses that are allowed for. Mr.. Gaffney
on Saturday wrote to Mr.. Ballard asking
him to specify what changes would be
made in the clause. Mr.. Ballard replied
IN the letter received todays
have your letter Of Saturday feel
that II ] Should attempt to redraft the
fare section OF the proposed contract in
order 20 smbody the change which /
stated my client would be willing to make
In case the city should decide to equip its
own lines, II would merely give rise 70
criticism OF the language of the section
whereas. the important thing is whether
the principle involved is acceptable to the
city
recall that you had a stenographer
present At the hearing. II you will have
q copy o. the notes of what / said on
the subject sent 20 me, will check them
up 10 see whether my statement as re-
corded plainly sets out the offer. II IL
does not, / win correct 1t or redraft II
20 as 20 do 30.
ELLIS AAIEs BALLARD.
Mr.. Gaffney at once forwarded a tran
Icript OF Mr.. Ballard's words.