Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-09-26

This Is the conclusion of the articles published In
the papers Of Sunday, Monday and Tuesday, regard
ing the proceedings between committee OF chamber
of Commerce and representatives OF the Tulsa Street
Pail"ay company at meeting held the Attn Of TINS
monta.
As stated in Yesterdays article. the Tulsa Street
Railway company recognizes the obligation to care
for the traffic needsSf the city 10y proper extensions
as the city grows, else II is proper that the city
should grant franchise to some other company
that will do H. The president of the company then.
in reply to inquiry on the matter, went on to say
as follows
ANY franchise that would allow us to build under
conditions that operate and finance would be
acceptable to us. But we at present are connected
with two banking institutions of Chicago in the
financing of enterprise In order TO make the
extensions that have mentioned as having been
outlined previous to April g. 1907, marketed
$500 600 Of bonds on this property. That financial
ARRANGEMENT also contemplates the purchase OF ad-
ditional bonds on the property for extensions and
additions to the property. our bankers Will not
accept franchise granted under the provisions OF
this charter We secured the sale OF these bonds of
course. under the system II exists Mt present and
under the present franchise for the building OF ex-
tensions previous to the expiration OF our building
rights and we have the money to go ahead with all
the extensions that we outlined the purchase or our
new rolling stock. the building of new car barn
which Is now in the architects hands. the building
of an office building at the barn property. The
bonds issued for that purpose but now the
franchise rights to build have expired and the only
capital that have to build with are such eNteh-
sions as can be made under the existing franchise
which still we tho right to build where we were
nioined as under the advice Of my attorneys where
yc nre enioined our franchise rights still hold good
All the extensions contemplated there we have the
canitol IN go ahead with and the financial arrange
ments all made; but the situation Is entirely olf-
forent now with the extension of system further
than beyond what have indicated to you on the
man I have shown YOU where we still have the
rights under the present franchise as we could not
secure money to go ahead under present charter
provisions.
"rbe citv hos right to acquire our property
under this franchise at the end of ten more years
Now understand, | not saying that the Tulsa
c,r"o, paii,yav comnnnv is going 10 lay down and
g,y oh ,1iputi ipn In
give Tulsa adequate street railway system ! am
not saying that at ALI am simply saying this; our
disposition is 20 build up this street railway system
and there is no use the city and getting at cross
purposcs Let us understand each other. say that
the charter you have at present does not present
conditions under which franchise can be accepted
I have made some explanations; ! could not go out
and sell bond for twenty cents on the dollar based
on n franchise granted on that charter couldn't
give the stock away. l wouldn't invest dollar in
II myself and came here ten years ago when Tulsa
had only six thousand people and invested Two
Hundred Thousand Dollars because l had a good
franchise and had faith in the future growth and
development of this city. Anton Classen walked up
the Main Street the city of Tulsa with In 1908
when | was building the street car system here, and
said 'Bosler you have more than | have;
any fellow who will build street railway in town
OF this size deserves either pity great deal of
prase: and I don't know which TO give you yet
And the building OF the street railway did more TO
build Tulsa than anything up to that time.
There has been attempt on two occasions to
attack the Tulsa Street Railway franchise The first
attempt was to prevent from extending lines
beyond the limits OF the old city II existed at the
time the franchise granted In other words, the
city at that time-I will withdraw that in saying the
city; IL the city attorney at that time who rem
dered the opinion. 1t was the Oklahoma Union
Traction company think II was called at that time
who brought the suit. That was to prevent us max
ing an extension West Third street over into
Owen addition The city attorney at that time rem
dered an opinion that couldn't extend beyond the
old city limits That was taken to the Supreme
court where our franchise rights wers upheld. say
ing that evidently II intended that we should
grow with the city. That is the reason said that
on April 9Th we filed a request to build on streets
after the expiration OF ten years the ground that
the city might recognize the right under our present
franchise and permit us TO 20 ahead and make ex-
tensions as the Supreme court said II was the evil
dent intention that we should grow as the city ex-
tended. In other words, they upheld our franchise
rights there.
"A city the size OF Tulsa Is not an absolutely GER
tain street railway proposition In Its paying value.
Double tracking costs lots OF money; II Is an addi
uonal investment upon which earnings must be
made, and you can't 40 beyond the earning capacity
of your street railway either In the purchase OF roll
T~1oo C%~ook D .