The evening world. [volume] (New York, N.Y.) 1887-1931, 1920-02-04
.HYLAN ASKS NAMES
OF PROFIT REAPERS
ON SUBWAY STOCKS
Continued from First Pagc.)

siEten months after the contract was
executed
I'm tho light OF your great profits
In the past do YOU think the strap
hangers or the 1877 l-2 per cent. prof
iteering Stockholders should 20 down
into their pockets now and makeup
this comparatively small deficit?"
asked Mayor Hylan.
Il think the deficit should be paid
by the people who get bhe service"
replied Mr. Hedqey
you then consider the Insignificant
S65 100000 cleanup as water gone
over the dun, and doesn't count? You
think the people shouldn't have a cent
OF the prosperity, but that they must
be held UP at the first opportunity
when times are temporarily bad?"
MIR. Hedley repeated he thought the
passengers should pay thei.' way.
"Then you think the stockholders
who get the enormous profits should
keep them and that when there is n
deficit the people ought 70 pay?"
pursued the Mayor.
'-To a large extent" was tie reply
Comptroller Craig then demanded to
know why the Interborough was not
willing TO stand pat on that part OF
the contract calling for a FIVE cent
fare.
The witness admitted the INTERIOR
ough had paid dividend from 1914
to 1919.
why didn't you set aside a sufici-
ent reserve to meet the deficit now,
when you were paying those big divi-
dends?" asked the Mayor
PERSONALLY, l think It should have
been done, hut the stockholders got II
all" was the reply.
"Then why not go to the stock
holder now and ask them to con-
| tribute?" persisted the Mayor.
I'VE aren't distributing dividends
now. We haven't enough cash TO oper-
ate our lines unless VIC get help" said
Mr.. Hedley.
ado You want 90 give up your con-
| tracts?" asked Mr Burr.
mo" answered Attorney Quacken-
bush. You know how heavily the
company In mortgaged."
| Mr.. Hedley, continuing, explained
| that ne had gone 10 the Stockholders
last year and asked them for a loan
| OF S., 900, 900 90 tide over the difficulties
Of the Tnterborough.
"You say they loaned II TO you
why didn't they give II TO your askec
! the Mayor.
To a question Of Mayor Hylan, Mr.
!. r. T. stock, having sold an equa
number last year. He said he had re
ceived dividends OF as high as 20 pei
cent. on his stock, and as low as L.
per cent. and declared he had paiC
5000 share for his stock, and haC
not sold the nifty shares last year un
I'll after he had collected the divi
dends. He declared no was not pre-
pared 70 contribute any proportion o
the dividends he received 20 the pres
ent deficit Of the lnterborough.
''rhen you want more dividends2
asked the Mayor.
''Sure," was the reply.
Attorney Quackenbush defended tn
memory OF the late President Shont
OF the lnterborough IN referring I,
the alleged Shonts commitments an,
obligations which we're developed dur
ing the Thompson Committees in
vestigation OF the third tracking con
: tract Mr.. Quackenbush said:
'1f II was a true statement the
/ ought 90 have indicted and cOnvicte
Theodore T. Shonts. II was the dut
B OF Senator George r. Thompson wit
I his power OF Investigation TO lay IN
evidence before the criminal author
ties and indiUt and convict TheodoI
| p. Shonts. lie did not do n. NobOd
D dared do II in his life time, and ! sa,
, out Of respect 20 his memory and onl
= In fairness 20 him, that there be rea
! into this record the testimony OF NJ
Shonts and not OF his accuser."