The sun. [volume] (New York [N.Y.]) 1916-1920, 1917-11-24
CITY MAY TAKE
OYER SURFACE
TRANSIT LINES
Valuation of $18O,O0O.OO0
Mentioned in Plea for
2 Cent Transfers.
COMPANIES RECEPTIVE
Commissioner Tells of Benefits
to Be Derived From Plan
Payment Easy.
COMPANIES RECEPTIVE

One week from next Monday-on De-
cember 3-the three big transportation
companies Of this city are expected to
reveal just how much they will sell their
surface line properties for II the city
wants 20 buy.
THE Sun IL informed semi officially
that these valuations will be:
New York Railways. ...... $4,000. 900
Third Avenue Railroad. -. 10000. 900
Brooklyn Rapid Transit Co 10000. 900
On December 3 representatives Of
those companies will APPEAR before the
Public Service Commission at the COM
missions once in the Equitable Build
ing with valuation estimates that have
been procured by them at great ex-
pense and with infinite care The os-
tenslble purpose OF obtaining the valua-
tions was TO furnish TO the Public Ser
vice Commission figures t:st would be
helpful to the commission IN determin-
ing whether the companies are to be
allowed to charge cents for transfers.
Commissioner Travis II. whitney does
not hesitate to say that the significance
Of the valuations will lie good deal
deeper and more important than their
evidential character. He believes that
the estimates may be a sale price as
well as a rate making price.
willing 20 sell.
1t Is taken for granted that the Pub
lie Service Commission will hesitate to
grant TO the compa nies the rate relief
appealed for. and that the declinat;on
will increase II anything. the degree
OF "receptivity" the companies are be-
lieved 10 entertain. Various other fac
tors enter into the situation--such as
the admittedly increa sed and increasing
cost OF operating the surface lines o.
the city: the relatively low price OF
the securities OF the companies. the ap-
prehension that exists as to what may
Be forced on the companies by wartime
conditions. and the greater apprehension
Of growing SOCIALISM. All Of these fac
tors make for the belief. on the part
Of Public Service Commission experts.
that the companies are not unwilling 10
get out while the getting is still pretty
good.
There has been talk for some time
that the heirs Of Anthony r. Brady are
willing to entertain a fair proposition fo-
their surface ear line interests. The City
Hall has buzzed with that rumoi FOR a
long time Efforts We're made by The
SrN last night to get into communca-
ton with Nicholas F. Brady. but il was
stated that he was out Of town for .he
day. Theodore =. Shonts Of the Inter
boro. which controls the New Yori: ri,y
Railways. was not access Die. but IL was
pointed out by n member OF the Public
.t,-
already on record as displaying tole-a-
tion OF the project Of buying his COM
pany out or Of the city entering into
some sort OF partnership with the New
York City Railways. As far back as May
o6. 1917. Mr.. Shonts wrote to Mayor
Mitchell:
IstertorOuGh Receptive.
This is the first We have heard Of any
proposition by the city for municipal
purchase. I may say, however. that our
company is In an extremely receptive
mood toward any proposition contemplat-
ing a partnership between our company
and the city whereby the service TO the
public may be protected and the burdens
of giving that service equiiably adjusted
in the public interest"
When Public Service Commissioner
Travis II, Whitney was asked yesterday
IL he agrees that the valuation estimate
to be submitted by the compa mics were
OF especial Significance. he replied:
"Spe eaking for myself alone. | should
he inclined to regard the figures as tre-
significant: as assuming that
they represented something like the COM
panles' selling prices"
Commissioner Whitney was asked IL
he knew OF any law that stood in the
way Of the city's taking over the surface
car lines by purchase or lease. lie said
that on the contrary. the rapid transit
law in amendments of 1909, would facil-
itate such taking over II the law was
so as to lnc,ue.e surface car
lines along with rapid transit lines
Payment simpliAed.
Instead Of the city having to burden
itself heavily by the paymen; Of. say.
II so 5000 for the surface car line
properties it might be able to acquire
those properties by guaranteeing an an
nual return to the security holders and
by amortization. paying for the prop
ert'es out of the profits. This was
method suggested by l.. II. r. uark-
ness and myself in the case Of the Full
ION street elevated line" he said
Commissioner Whitney has rather
startled opponents OF municipal owner
ship by purchase by his prophecy that
ownership Is coming along
and coming along fast, He told the
Queens Borough Chamber Of Commerce
hat the time was rapidly approaching
when the city might take over the street
,ar lines. As a trained and disintercsted
ANpert In transportation Mr.. Wh!tney's
views were read with the keenest of In
erest by street railway managers. poll
icians and economists.
Commissioner whitney tod THE Sun
ast night THAT Re had prepared the
statement OF his views with the utmost
,are and deliberation.
Not Included In CITY Debt.
Under the State Constitution rapid
.ra nsit bonds-Once operation provides
'unds for their interest and redemption
may be exempted from computation as