The Owosso times. (Owosso, Mich.) 1897-1926, 1918-06-07

In order that more comprehensive UNDER
standing may be had of the effect of these con-
ditions upon the Company. and inasmuch as
your Petitioner Is asking for an increase In
fare per passenger. the following statement
of the above figures. based upon cost and
losses per passenger carried. will be interest
ing:
The operating cost per passenger carried IN
1917 was 6.43 cents, The interest upon the
funded debt for each passenger carried was
Company of 9.53 cents for each passenger
/ CO rried for which is received cent fare.
The net loss TO the Company for each pas
fore, 453 cents. These figures are based on
the 1917 earnings and expenses. Costs are
now continually increasing Those in the
latter part of 1917 were much higher than
those during the early months of that year. In
January. 1918, the operating expenses per
passenger carried were I.9o cents, The IN
Total cost to the Company for carrying each
passenger during January, 11.05 cents.
Amount received for carrying each passenger.
cents. The loss to the Company on every
passenger carried during the month OF January
900 cents.
During the month of February, 1918 the
operating expenses per PASSENGER carried were
65S cents interest 200 cents total cost to
the Company for each passenger carried.
9.57 cents /; the amount received Tor each
passenger carried. cents; leaving net loss
to the Company for every passenger carried
during the month of February OF 4.57 cents.
If these conditions continue as at present.
your petitioner anticipates that the deficit Tor
the year 1918 will approximate $l7,6OO Your
Petitioner does not and cannot ask TO be re-
imbursed for past losses. 1t Is the future we
are concerned with. The increase now granted
to your petitioner will apply wholly In the
future. and not in the past.
H. Secretary McAdoo's report to the Pres
ident, dealing with the situation as regards
street railways and other utilities is especially
significant at this point Mr.. McAdoo states
1T is obvious that every part OF our indus
trial and economic life should be maintained
at its maximum strength in order that each
may contribute in the fullest measure TO the
vigorous prosecution OF the war;.
These words are significant. 1t is not an
industry unable to meet its financial obiga-
tons; not an industry earning less than a
reasonable and fair return; not one unable to
attract investors to supply 1t with the money
needed to continue its operations on broad
and efficient scale. which can play Its part
in the great and pressing work of the time.
Only an industry in full vigor maintained at
its maximum strength" can be able to do its
part continuously and efficiently.
No extended comment on the vital import
ance of the street railway to Owosso. its
growth. its strength, and its ability to do its
part in winning the war; is necessary. Your
Petitioner has made and will continue to
make sacrifices in order that the City and its
industries may be served during this period of
stress. Your Petitioner is not asking to be
reimbursed for past losses, nor to profit IN the
future Al the same time. however, your
Petitioner would be remiss in its duty to the
country, to the City and to itself If it failed
to ask for the salvation of an industry upon
which the public so much depends.
IL. Your petitioner is, therefore, compelled
to come before your Honorable Commission
and ask for prompt relief. Such relief has
already been granted to a large number of
electric railways throughout the country by
state commissions and municipalities. and ad-
ditiona relief is being granted daily in
great number of cases.
Your Petitioner asserts that emergency
exists, and prays that it be authorized to in
crease the fare between Owosso and Corunna
to ten (10) cents one way and fifteen l15)
cents for the round trip until conditions
again prevail when il may, with safety to the
City and to itself. make reductions therefrom
as warranted.
Respectfully submitted,
MICHIGAN RAILWAY COMPANY, |
By Vice-Pres. and Gen. Mgr.
j. f. COLLINS.