New-York tribune., 1922-10-03
Hyla1l Almost
Makes Peace
With McAneny
CONTINUED tram page ene)

on the 1nterborough. That had not
been used to pay the city's interest
charges, he said, because that point
had not yet been reached. The Mayor
declared he thought it never would be
reached.
"Wby not?" said MIR. McAnony. "I
for the war and consequent abnormal
conditions, there would have been a
substantial surplus long ago"
Frankly, are you in favor Of this
new line being operated by the city ?"
asked the Mayor
NO" replied Mr.. McAneny, 'but we
want the city to own it. 1t will go
into corporate hands IL the Transit
Commission plan is adopted. Under
the plan as soon It's the roads pay for
themselves the profits go to pay in
tercst in the bonds. and nothing more"
Mr.. McAneny said that the commits
sion was not in favor Of any NOR.
segregation Of transit lines. He said
they had had enough Of that in regard
to the surface ines, which were broken
to pieces. Unification OF the system
on five-cent fare, he declared, was
what they were working for. The
Mayor wanted to know If the fare
would not be raised under the "baroni-
cter fund" scheme in tho Transit
Commission plan, if there should hap
pen to be a deficit. Only another war,
rascality or gross lack Of watch fulness
on the part Of public officials would
Bring about such a result, Mr.. Nc
Aneny thought.
Hubert AssaiIs McAneny
A!dermanic President Hubert ac-
cused Mr.. McAneny of evading the
question. He said ho wanted to get
an answer without an explanation.
An answer you can understand" re-
marked Mr.. McAneny.
"Thc trouble with YOU" said Mr..
Hubert, "is that you are like a rooster
hopping from one perch to another.
Now get on your nest and lay your
egg and we will sec what is In it,"
Mr.. McAneny admitted that he might
be the champion rooster of the walk
but he declared he had done his best
to cIucidatc the plan. He said that
by taking the $10,000,O0O subway in
tcrcst charges out of the city budget,
as the plan provided, it would increase
the city's borrowing capacity by $780,
600 900.
We've got money enough, enough to
build them ALL" said Mr.. Hubert.
You mean to say you don't need
asked Mr.. McAneny. "From
the Comptroller's published reports
judged that the borrowing capacity of
the city was decidedly limited
'1ou haven't read the Comptroller's
reports the same way we have" said
the Adermanic President.
Mr. McAneny explained that the dual
contracts, since they went into effect
on January /, 1919 had not permitted
the operating companies to pay divi-
dends. Mr. Hubert contended that
they had paid out cXorbitant dividends
and cleaned out ali they had prior to
hat time. Mr.. McAneny explained
that the Transit Commission plan did
not contemplate the use of dollar of
city money TO purchase elevated or
surface railroads as the Mayor had re-
peatedly stated in public He said that
was provided for through the securi-
ties of proposed holding company
without any obligation on the :ity's
part
"The barometer scheme would make
,hese holding company securities gilt
edged, wouldn't it?" asked the Mayor.
Quite the contrary" replied Mr.. Nc
Aneny. THE plan contemplates taking
off all the gilt edge"
"Well, we are only little apart on
the method of financing," said the