The daily times., 1919-07-17
SHALL CITIES TAKE
OVEG UTILITIES?

railways of the United States will
need a total of approximately ST.
100000 each year to enable
them to meet adeC lately the de-
mands made by the public accord
ing to estimates givevn the Federal
Electric Railways Commission today
by w. G. Bradlee, president of the
Stone and Webster Management As
Isociation, of Boston.
Mr.. Bradlee declared that between
$500, 100000 and $7OO,OOO,OOO In
new capital was needed annually for
extensions and improvements and
probably $35O,OOO,0OO for refund
ling of outstanding obligations. He
Isaid that little had been done in the
way of improvements in the last four
years owing to unusual conditions.
There are only two ways to OBJ
tain this money! Mr.. Bradlee said,
either through municipal ownership
or through the establishment of
some plan so that one private inves-
tor will feel that he can count on
reasonable return if he invests in
street railway securities
II. l.. Stuart, an investment bank
tr of Chicago, said there was little
market now for street railway secur-
ties.
Guy E. Tripp, chairman of the
committee of one hundred represent
ing the American Electric Railway
association, who occupied much of
the days session, predicted that
many Of the larger electric lines
would be in bankruptcy before the
commlsson completes its hearings
Mr. Trip told the ceommisson
he believed the fairest method for
calculating earnings would be to take
the isues of securities determine
whether the money they produced
was put in the properties, extract any
water and use the result.
| Taking up the surface traffic sit
uation in New York City, Mr.. Tripp
said he did not believe the one-man
car could be successfully operated
there, because of traffic conditions
and the unusual crowding in the
rush hours. He said that cars are
now operated on New York streets
as closely as is possible
ST would like to ask your solution
of the New York problem" said
Royal Meeker of the commission.
That said Mr.. Tripp, "would re-
quire an analysts of the deficit ex-
lists. 1t isc hard to state, but seven
and one-half cent fare might do it,
ST meant so far as physical i'm
provement is concerned said Mr.
Meeker.
ST don't see much change" Mr.
Tripp replied.
Bentley w. Warren, counsel fol
the association, read letter from
Chairman Hurley, of the Unitef
States Shipping Board, commencing
the work of the street railways dur
ing the war, and declaring adequate
and efficient street railway facilities
as essential to the development O
cities as transcontinental trunk line
were TO the country at large.
''They should" declared Mr.. Hur
ley in his letter, "be fostered ant
safe guarded, accordingly. 1t ap
pears to me that there is only on
remedy, and that is authority to in
crease the fares"
i Mr.. Bradlee said his company ha'
experimental with gasoline busse:
and that none of them paid. Aske'
, about Henry Ford's idea that h
could solve the street railway prob
I lem with a gas car, Mr.. Bradlee sal
Mr.. Ford had ian idea, and not
/ car"
Upon completion of the rai1wa
testimony, adjournment will
taken until August 4, when Secretar
Baker and a group of economists wi
begin testifying. On the completio
> of their testimony another adjourn
u ment will be taken until Aug. II
l.; when the mayors of large cities, IL
y Guiding New York, San Francisc,
II Boston, Buffalo, New Orleans, Sea
% tie, Detroit, Chicago and CLEVELAND
and members Of various commi
l. sions will be heard.