Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1918-06-15

ripht 10 incur the expense of Investigations
without asking permission oil Council.
This was refused We have attempted IN
other WAYS to test out this question. but
have failed, and without any Willingness
on the part of City Council To assist us In
so doing. CITY Council has repeatedly and
arbitrarily placed IN their budget an
appropriation for Use by the Board al
Public Utility commissioners which was
wholly Inadequate to enable the board 10
do anything of value whatsoever
About two months ago the present
appropriation was exhausted and oils
were contracted in excess thereof. The
board then asked MIR James " Robert
son, chairman of the Finance Committee
of the present Council. To refuse 10 pay the
pills so that we could test our power IN
spend money for Investigations by n legal
proceeding We told Mr. Robertson
plainly that it was for the best interest
OF the city tn determine what the board
could do along this hne. for the reason
that If the board could make no lnVcstl-
CATIONS except with the knowledge and
consent of Council the sooner thus tact
was known the better, as 1t then might
be possible to have the legislature enact
a proper law providing for state Board
of Public tilItV commissioners.
No RESULT OBTAINED
All of this has been without any result
whatsoever. OF course It Is Impossible
for the board 10 make contracts with
auditing companies or appralsal companies
which would involve any considerable
expenditures unless such company could
he assured that its bill for the service
rendered would he paid
Had tho { 4 ',,Ins.ti pp-ntaHTufpI with
he Board of Public Utility Commissioners
along these lines We would now have N
our POSSESSION appralsals showing the com
plctc replacement values of all the public
utilities IN the city Such appralsals
would show whether the public utilities
have water m them that needs 20 he
squeezed out or not and would also show
which Of them have water IN them. II
is the easiest thing ~ the world for the
experienced business men who constitute
the membership Of City Coungl to cry
'watercd stock hut no intelligent and
self-rcSpecting body Of men. possessing
judicial powers can ac without proof
If CITY Council had enabled and permitted
such apprasals 10 be made. We would
then have had the opportunity 70 get
rid Of any water If there - any, IN the
securities Of tho particular public utIntN
with respect to which this controversy
has arisen.
Regardless Of what City Council might
have done il il had jurisdiction Il Will
be generally admitted hv intelligent per-
sons that no scll-respcctng judicial body
would think Of reaching conclusion that
the securities OF public utility company
are water merely on the strength Of public
clamor and without reliable and impartial
= ha Tar
know az no method of determining
whether there Is water IN the securities
If i gwen company other than b. com
pairing he total amount Of securities out
standing with the real or replacement
value Of the assets Of the company,
charge here and nov that our IN
ability to determine tins question and 10
consider what eject It's determination
would have upon the matter recently
before us Is solely the fault Of the City
Council OF Wilmington
THE MATTER or NOTICE.
Due notice was gwen through the pub
lie press Of the proceeding lately before
US More than one meeting was held
IN Us To consider this matter The pull
lie was advised of the original petition
for slA-,cnt fare and its amendment
tShlLE iAi - StNIli~fS Aait 80 yin
was denied an opportunity 10 appear
at thu. hearings OF the board The City
CouuCll OF Wilmington did not appear
nor was il represented by counsel The
city. a. q municipality made no objection
through any 81 It's agencies 10 tie request
by the Traction Company for a slX-cent
fare or TO the request for seyen-ceut
fare No responsible ana substantial
citizens Of the city appeared q the meet
lngs OF the board 10 consider TINS matter
with cvideure 10 present
In their consideration Of tile matter.
the board, having no appraisal OF the re
placement value Of the property of tie
Traction Company. had 70 accept the
amount OF rs outstanding securities a.
representing value, as claimed by the
representatives Of he Traction Company
and as appeared from their books oi ac-
count
We investigated he receipts Of the
Traction Company and heir operating
expenses and after an audit 81 their books
accepted the report thereof aS to the
interest and rental charges required TO b.
made by the company We had nVcShga-
tons made by the best electrical engineers
available and the fact that TIN. man was
obtained from among the trained special
house Electric Company Is no more en-
titled 10 adverse comment than Is the fact
that a considerable portion OF our figures
were obtained from the sworn statement
of Lybrand Ross Brothers y Mont
gomery certified public accountants, who
were employed by the Wilmington 4
Philadelphia Traction Company Such
concerns as Lybrand Ross Brothers IL
Montgomery and the specialist Of the
" estInghouse company are people OF
character and reputation and no one OF
extend ed business experience would any
more question the reports Of one than OF
the other such criticism as has been made
along tins line Is only due TO the mex
pericnce and ignorance Of the persons
making It
RECEIPTS AND ExPhAsts
In making our recent Investigation
upon the applications for Increased fare,
we did Diet crnlnc the receipts Of the
Traction Company and their operating
expenses and We did investigate The
question Of he economy Of their opera
ton, and VI. made such investigation -
we could ID the absence Of An apprai ,al Of
tho replacement }alue Of their property.
a. 10 tho rca~ouabicncsS Of their fixed
charges pom this data, being all that
we had or were able 10 get. il Was neces
sary for u~ 10 base our action
Elf We had refused f o act II al until vi
had made an appraisal 81 the replacement
value Of the Traction Company's property.
50 far as now appears We never could
have acted, bccause the city has hereto
fore refused 70 furnish Us the means with