New-York tribune., 1919-07-08
vestment, If, indeed, it will hereafter
be able to earn even rentals on leased

vestment, If, indeed, it Will hereafter
be able to earn even rentals on leased
lines.
"The commission, after careful con-
sideration of all the facts, has decided
to grant conditionally a charge of two
cents for transfers. BY the statements
showing operating results by years, the
fact appears clearly that the company
never has made excessive earnings
While the commission cannot now def
nitely determine the fair value of the
property, this probably is not and
never has been less than reported to
the State Tax Commission On this
basis the average return since the re-
organization of the company in 1912
has been under per cent, and during
the last year has been far below fixed
charges.
Lesser Evil Chosen
"My decision is this: shall allow
charge OF two cents for transfers at all
points except where free transfers are
now legally required. But this permits
sion shall extend only to July 7, 1920,
and is further conditioned upon the en-
tire New York Railways system being
kept together as at present constituted.
Under ordinary circumstances | should
consider charge for transfers as
wholly unreasonable, resulting in gross
discrimination between different classes
OF passengers and different parts Of
the city and in establishing a disioint-
ed system of rates. But in the present
case the choice is between an unrea-
sonable system of rates and the disso-
luton Of the service. Which of these
evils will cause the greater inconven-
ience to the public? The answer to
my mind is clear, and I therefore seek
TO maintain the unity of the present
system at the cost of very unsatisfac-
tory method of charging for service.
The charge for transfers becomes rea-
sonable only because it would be more
unreasonable to permit the collapse of
the service"
Commissioner Nixon said that the
evidence showed that even if a three
cent transfer charge were granted it
would not be sufficient to meet all
liked charges, and explains that the
reason he has granted temporary re-
lief is to enable the city and the COM
pany to get together and reach an
amlcable settlement
Franchises Unsatisfactory
The present franchises, under which
The company operates. he declared. are
unsatisfactory in two respects: One,
ASo1AA AASVloilS Ou 1afGS, ana Two. the
permanent or longtime rights in the
streets.
:, "Neither restriction is reasonable"
Commissioner Nixon held. "Both
should go, the one with the other. NV
desire in granting temporary relief
is to obtain sufficient time to get these
adjustments l hope the city will be
prevailed upon to consent to flexible
fare while the company or the various
financial interests will, in turn, give
up their longtime or permanent rights
to the streets.
"If these two things be accom-
plished it would then rot be difficult
to determine the value of the property
and to fix reasonable rates. The city
would then have the way clear for
any transportation policy that may
seem reasonable in the future, while
the company could have safeguarded
its investment in street railway prop
erty. But unless the two things be
accomplished there can be no final
satisfactory settlement. In the end the
charge for transfers would prove un.