The New York herald., 1920-01-10
PUBLIC TRACTION
HEARING SET BY
ESTIMATE BOARD
Question of Financial Relief of
Bankrupt Companies To Be
Threshed Out Tuesday.

Representatives of the bankrupt traction
companies appeared before the Board O.
Estimate yesterday and formally pre-
sented petitions for a public hearing on
the question of financial relief for the
companies. The necessity OF immediate
consideration of some plan for relief by
the city authorities was urged and the
Board sitting in committee of the whole
after the regular meeting decided to hold
a hearing on the transit situation nexr
Tuesday afternoon at quarter past two
o'clock In the Council Chamber in City
Hall.
James r. Sheffield. trustee in bank
ruptcy for the Interborough Consolidated
Corporation, presented the combined peti-
tions. There was nothing said in the pet'-
tons about increase in fare or other
proposed details of adjustment OF the situ-
alton and they were received in good
humor by the Mayor and other members
OF the Board. Job E. Hedges. receiver
for the New York Railways Company:
his counsel Henry L. Stimson, and Lind
ley NJ. Garrison, receiver for the Brooklyn
Rapid Transit Company. also were present.
E. S. Hobbs, who represented stock
holders, asked leave to intervene. but
Controller Craig told him there was no
necessity to get permission as the hear
ings would be public and anybody having
any information on the subject could be
present and give it TO the Board.
To Produce All Books.
Controller Craig asked Mr.. Sheffield II
the receivers were ready and willing to
produce ali matters in reference to the
case Mr. Sheffield replied that all mat
tiers would be presented to the Board and
that no subpoenas would be necessary.
He said they would produce everything
they had. Mr. Garrison gave the Con-
| troler the same assurance and when
Mr. Hedges was called upon he said
"Of course, everything we have will be
produced"
"And what you haven't got?" inquired
| the Controller.
| Cant produce what We haven't GOT
replied Mr.. Hedges with laugh. in which
the members of the Board joined. The
greatest good humor prevailed between
the members of the Board. the receivers
and the lawyers.
| The joint petitions said that while the
details In respect to each situation were
different the general principles to be ap-
piled were identical ana the method Of
procedure in respect of each case should
therefore be the same.
"The situation is a unique one the
petitions said. THE undersigned have
no personal financial interest whatever
in the subject matter. They are solely
concerned as the agents OF the court in
the prosecution of a public duty. The
subject matter being public utilities. their
duty OF necessity becomes one in which
the public interest is directly concerned
and is paramount.
DIsclnim Personal Advantage.
Your honorable body likewise repre-
sents the public. The uniqueness of the
position is thus produced. We. being
charged with the duty of so conducting
our trust that the public utility will render
the best service TO the public that is posi-
BILE with the means placed at our com
mand apply to you as public officials TO
cooperate in such manner that this end
may be obtained. No private personal
advantage being sought by any one, and
| all concerned being charged with the
gravest responsibilities of a private char
acter, the situation is simplified and Is
rid of many of the features which often
prove embarrassing and stand in the way
OF satisfactory solution"
The question of an increased fare for tho
Staten Island Midland Railroad Company.
which operates the surface lines in Rich
mond, came before the Board in the form
of report by the Citizens Committee
appointed recently by Lewis Nixon. Pub
lie Service Commissioner. to investigate
the financial condition OF the company.
The company announced that il would
suspend operation of the cars January
Ii9 unless relief were forthcoming. Louis
L. Tribus. chairman of the committee.
asked the Board to grant the company
seven-cent fare for period OF six
l he
bought its power from the Richmond
Light and Power Company. IL was
separate corporation and refused longer
to operate a losing concern.
Resists Richmond Fnre Plea.
Mayor Hylan said he understood that
Calvin d. Van Name. Borough President
Of Richmond. had arranged for bus SER
vice if the roads discontinued operation.
Mr.. Tribus contended that buses could not
render the service. lie said they might
meet the situation later, but not now.
when the terminals were so congested that
! IL was almost impossible for the railroad
company to get the people away. Mr.. Van
Name opposed any increase in fare. say
| ing he never would consent to IL long
as he was n member of the Board OF Esti-
mate He said there was no question that
| the Richmond Light and Power Company
and the Shore Road and the Midland
Road were all the same. and while the
hlcnmOnd company was losing money on
the Midland Road II was making n large
amount on the lighting and power.
when the company was making
money" said Mayor Hylan, they put Il
in their pockets. Now 1t is losing money
they want to put II on the people"
The seven-cent fare was not granted by
tho Board A motion by Controller Craig
that the Corporation Counsel be instructed
TO take measures TO protect the city. and
IL he found a receivership necessary to
report to the Board, was carried.