Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1920-06-05
EIGHT CENT FARE
Continued from page

Second. Fifteen per cent OF he cost Of
in,nroverocnfs be.termcnts and extensions
being the portion for which the companyis
not entitled to sell its bonds.
Third. A return Of z per cent on the
valuation of the said electric railway prop
critics shown hv said appraisal, plus -
per cent OF the amount of improvements;
betterTncnts and extensions shown Dy said
semi-annual statements
The petition filed last night set forfh
that on March "a. 1920, the company
submitted TO the board a valuation Of its
railway property made by Drumm &
Co. that in al other respects the COM
many has observed and fulfilled the re-
nlirements Of the boards order; that an
recommending statement shows that the
rcceints from passengers 10 which the
COMPANY would be entitled would require
fare Of 90i9 cents per passenger. Inc
petition also says:
CONTENTION or THE COMPANY
eft i practically certain at that rate
| ~ fare the total paasea gers carried annual
| t. world decrease and that az result 'he
rate Of fare named might have 70 be
| further increased, in order 10 give the
company the necessary revenue, 10 pro-
| babIy 10 cents as Is now the rate IN the
cities of Pittsburg and Boston and IN
over fifty other cities and towns
eft i submitted that there could not
ueIl he a more complete justification Of
| the companv's position tina it was and Is
| fully entitled 10 the cent fare which Is
heretofore requested, and which request
| i still pending before your honorable
BODY
The company feels reluctant % ask at
the present time for what the evidence
| clearly shows IL Is entitled to. and peEore
being driven thereto il feels that Il should
make ne experiment toT time A least,
af charging less than 9,049 cents a. the
ate OF fare THIS i IN the hope that even
taaIly. and III some way Or other, the cost
af operation MAY lie - reduced a q svoId
the necessity OF AGAIN increasing the rate,
although. - q matter OF TACT, such de-
crease IN cost Of operation does not appear
to be actually impending
KS a temporary experiment, until SGch
Tune as the needs OF the company may
otherwise dictate, the company again asks
the commission 70 hx the rate OF fare "a
be charged by If at 5 cents, and that any
nd all requirements for the sale OF tickets
shall be bollshed.
This rate OF fare would produce, from
! the same number of passengers as were
carried last year, 100000 less than tnt
comp ny, IN er the order OF the com
. mission. would al the present TINE q
entitled To- The { mpany hopes, however
that some increase IN the number Of ride
will occur. eventually, even though theT'
he an immediate temporary falling OF
and il Is wiling at the present time t
make the experiment and therefore pray
/, for an order authorizing 1t to charge
: cents per passenger as It's rate OF iare
| | as above suggested.
/ BASIS OF REQUEST
L The increase asked for, IN October, 1919
Z vas cents the increase allowed, pendln
& the fling of an analysis OF the business
the company. was Z cents straight, Q
I'll, cents when tickets are purchased.
The valuation Of the railway propertle
= of the Traction Company, as Of Decem
:, Der 81. 1919 computed by \. l.. Drum
: 4 CO. of Chicago. allowing Tor depre
= eiation. Is set at 80, 345.37s.
= To bring this mp 10 date. Sl40.otn
i added on account Of contemplated better
ments in the year beginning june !, 1871
making the full total 80, 34o,39S
The allowance of a return Of 5 per cen
+ on this investment valuation beng as
N summed as 4 proper rate OF proht, mean
4 sT47 tn The operating expenses Tor N
II year beginning June l. 1919, estimated
II accordance WITH the UNIFORM system {
Ia accounting ii the Interstate Commerc
'e Commission. foot up st,1fl $50, an
$4,000 is 20 bc added 70 represent tile |
per cent on the s20O. 900 betteTments Il
the year, only - per cent OF which ma
be covered hY bond ISSUES.
Il These items OF expense loot Up s2.ols
le 6I0 and this total IS subject 10 acliuctlo
= If s2o.O0O for operating revenues troI
y sources thor than passenger fares leavln
y =. ig0.6l0 Is the gross amount require
Ill to be realized from passenger fares
Is Thu total number ii revenue passenger
h carried III l9l0wus - .624, l52 THIS nun
r Ter ol passengers would need G.
id charged IN average fare OF 90ia CENTS,
~ order 10 produce the calculated revenue
The result is considered By the compan
IS complete Justification Of their rogue,
for Il straight scent fare, which IS 81
pending before the Utilities Board, az
IL the granting Of which they will be Statistic
III to accept iii the hope that operating cos
OF may soon 20 down.
of The Inst report to the commission mas
n BY the Traction Go. for the month
April shows a loss OF Sd.5O210 throug
the operation Of the street railway line
although the other departments 81 9
COMPANY 5 business show pFoht
he $50 To- IL
Il