Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-08-26
A Wall OF DIVIDENDS?

lave the widows and orphans who hold
IL stock in the Delaware river ferry COM
panies - only the forlorn have shares, II
seems. in the richest corporations-anything
to do with the organized propaganda insti-
tutcd in New Jersey against the proposed
Philadelphia Camden bridge? Let us as
sumo that they haven't. And since II is
only fair to believe that they are standing
aloof. It is necessary to believe that they
are quite as naive and unworldly as they
have been pictured in hundred solemn ar
guments before the courts. For there are
immense profits in the Delaware ferry busi.
ness.
There have been times when the Della
ware river companies seemed actually to be
embarrassed by the weight of the returns
from their invested capital. War and wars
alarums, which often hindered other busi-
nesses, brought only an increasing tide of
traffic to the river boats. Every accident
and circumstance of the last twenty years
seemed destined to make the ferries richer.
Yet they chcerfully announce substantial
increase in rates for foot passengers and
vehicles.
Any one who is fortunate enough to par
ticipatc in the returns from corporations so
happily placed would be more than
human If he were to do otherwise than
frown on the plans for n bridge.
In the years between 1000 and 1909 divi-
dends on Pennsylvania ferry stock rose from
10 to 20 per cent annually. In the following
year only II per cent general dividend was
declared. but large surplus was absorbed
in new stock certificates issued to share
holders and representing an additional 81
p,olnp for la, To 1O1G
the corporation was paying n 90 per cent
dividend on the new capitalization.
The anti bridge propaganda in New Jer-
sey is based upon the argument, devised for
the ears Of farmers and small property hold
crs. that Camden and Philadelphia bridge
would benefit no one but motor owners. 1t
happens that at this writing truck farmers
in many parts of South Jersey are plowing
under crops which they cannot market at Il
profit. Most farmers own automobile
trucks. Is it too much to suppose that a
bridge which would make direct connecting
link between Jersey farms and the heart of
one of the greatest food markets in the
country would not be the beginning of
new era for farmers, even IL we are to sup
pose that direct trolley connections between
the two cities could mean nothing to the
vast multitudes who now have to endure
the hardships of inadequate ferry service
as part of the days work? And what per-
centage of the money that Is distributed an
nually among all sorts of people in New
Jersey is carried across the river in motor
cars?
Against the incredibly foolish arguments
now circulated to create general antagonism
to the proposed bridge loans II is only
proper to cite that of some owners of land
in this vicinity, who have insisted that the
bridge project is unfair to them since it
tends to increase real estate values iu all
South Jersey areas.
The simple fact of the matter is that
people of all sorts on both sides of the river
would benefit in hundred ways by the pro-
posed bridge. The suburban areas the
Pennsylvania side would feel direct slim
ulus as well as the region between Camden
and Atlantic City.
All of this is obvious enough. Whoever
tries through propaganda to create an oppo-
site opinion will waste his money.