Daily Kennebec journal., 1918-06-05
7-CENT FARES
(Continued from Page One)

7-CENT FARES
Continued from Page one)
required on the aforesaid purposes
which we find TO be supported by all
of the evidence in the case-we shall
confine ourselves to the consideration
Of those points and suggestions con
corning which there is some differ
ence of opinion.
School Tickets
THE company now sells so-called
scholars tickets at substantially
half-rate. The proposed schedule
eliminates this concession and puts
school children on the regular full
rate. It was estimated that this
would bring s9,4S3,57 additional rev.
enue annually.
Representatives, OF various school
boards protested against this change,
and the attorney general argued
strenuously against it.
we think, to quote Mr.. Sturgis,
that it is a matter of State wide pub
lie policy that the utility should
was inaugurated by the railroads.
was tacitly assented to by the trav-
cling public and has influenced
countless families in residential and
other places. One Of our first Off
cial acts was to rule that such prac-
tice might legally be continued. We
then pointed out our reasons for
such conclusion. and we need not now
repeat them. We shall order their
retention in this case.
Communication Tickets
The matter of commutation tick
cts on the Mechanic Falls branch
was fully considered by us in the
Butler case. We believe that there
are equities connected with this par
ticular demand as to that line which
do not exist generally, and that they
ought TO be recognized. The tickets
will be retained at an increase pro-
portionate with the increase in reg
ular rates.
I'VE shall not alter the regulations
governing their use. So substantial
IA reduction from the regular rates
can be justified only the regularity of
their use. Otherwise ii would clearly
he an unjust discrimination against
the occasional traveller.
Improvement of Service
I'VE shall not discuss the character
of the service. II is conceded that it
has become utterly insufficient. due
to lack of equipment, lack Of proper
morale among the men and faulty
operation generally.
The condition is admitted by the
company, which promises to make l1n-
provements as rapidly as is funds and
the present abnormal conditions affect
ing the supply of materials, equipment
and labor will permit.
The only real solicitude expressed by
the remonstrants is whether this prom
Use can and will be kept. No detailed
statement OF present plans was offered,
and failure to make such statement
was the subject OF criticism-not with
out Justice. we believe.
The proposed increased rates ought
to make IL substantial sum of money
available for this purpose. 1t ought aIsn
to improve the credit of the corpora
ton. And the latter is very important,
because while marked improvement can
be made through increased operating
revenue, it is not to be expected that
/ this property is to he entirely rehabili-
tated from that source. Additional
equipment must he had as well as i'm
provements to equipment, as fast as 1t
can be obtained under prevailing cOndi-
tions and the conditions which the
country hopes u see restored at an
early date, and this must be provided
from new capital as well as from earn
ings. Rates are not to he established
either now or in the future sufficient to
buy a new plant. nor to recoup the cor
poration for its lack of foresight when
it could have done more than it did DO.
THE proponent must be given a
chance TO improve its service if it is to
continue to serve the public and re-
ceivership is to be avoided-hoth of
which all parties professed to desire
No one can now tell just how fast OF
in what manner this can be done II
possible it should te without default in
its fixed charges, because its ability
to command any sort O. credit depends
on its meeting them. 1t is as important
for the future patrons of the road as
for the owners that this credit be main
tanned.
I'VE shall make our order in such
form that the corporation will improve
the service as fast as circumstances will
permit. or the case will he reopened
and an effort made to secure improve
ment. through the intprpositon Of the
Supreme judicial court if necessary. We
have confidence in the present manage
ment and do not eXnect this to be neces-
sary. but the public is entitled to thi;
assurance
Preferred Stock Dividends
What we have said under the last
preceding title regarding the credit Of
the corporation applies n the continue
payment Of dividends on the preferre
stock If it develops that 10 funds are
availabla for the payment of anything
except interest on the present indebted
ness. there will be little hope of secur-
ing further capital for improvements
and additions. If there is no recogniz-
ell equity above the bonds and notes
outstanding. there can lie no more hor-
rowing except at usurious rates; and.
aa we have said. il is neither practi-
cable nor desirable to undertake to put