The Birmingham age-herald., 1923-04-28
REFERENDUM ON CAR ISSUE NOW ASSURED; RECEIEVRSHIP MAY END
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pany; t Is plainly their affair. For this obvious reason Mir. Bradley be- lieves the referendum vote covering the jitney and kindred questions is first of all absolutely necessary in order that the affairs of the com psny can be conducted with the de- sires and attitude of the local people officially known.
 As matters stand today. it is claimed, the National Power and Light company simply has an equity in the Birmingham Railway. Light and Power company, Birmingham chief sufferer from the wrenched conditions of the war period, and can have scant inclination to put out more money until it is fully as- sured of the friendly attitude of the citizens of the area served.
 Referendum Is Assured.
 In the mass of detail turned over for settlement by the city commis street car company at the joint con ference last Tuesday. is the prcpa- ration of an ordinance which has, in part, to do with the proposed ref erendum election. The citizens can almost be assured of having an op portunity to express their views through the ballot concerning phases of the main question.
 The National Power and Light company is really the old American Cities company, with New Orleans left out In brief. other creditors of the American Cities company took the Louisiana property as their DOT ticn, and the Little Rock, Memphis. Houston, Knoxville and gham enterprises were purchased at fore closure sale by the National Power and Light. This company lost con 4f oir,<yI l, through the receivership.
 In April, 1919, the Birmingham Railway, Light and Power company was due to take up a $1.200.o00 issue of short time notes. Subsequently this time was extended to April l. 1921. In addition there were liabil!- ties of $250,o00 arising from other claims, damages and so forth. These obligations were not met and the company's affairs were placed in the hands of the federal court
 Bond Issues Limited.
 For many years the company has been seriously handicapped by the cramped limit of it's bond issues. this field for financing the company be ing limited to less than s9,000,00o as far ahead as 1857.
 In the early days of Birmingham m the district was served by several steam lines, connecting the various communities, most of which are now parts of Greater Birmingham. Later these independent lines were consol- dated and electrified, the undertak- ing being based oA the expectation of the citys future development. That development has been going on steadily, but it Is claimed has not yet caught up with the trackage with which the city is served.
 For period of ten years before ai in ha proximately $7O0.00o per year in eX- tensions and improvements to keep pace with the growth of Birming- ham ard meet the demands for rail way, gas and electric service. Dur ing reccivershlp this expenditure has been seriously curtailed. TO over take this demand and keep pace with it in the future will require the expenditure of at least Sl,0o0,000 per year. increasing in amount if the city continues to grow.
 Necessary Income Withheld.
 To make a long story short. it is maintained the company has not had a chance to earn the income neces- sary tc maintain its generous range. or to provide the necessary credit 70 borrow for improvements, and will not until the population is more thickly distributed over the srea. stretches of it's lines. Birmingham las trackage right now greater than that of New Orleans, and New Orleans has population greater than that of Birmingham and At lanta combined. Doubt is expressed whether there is any city on earth so adequately equipped with street car lines. if the comparison is based on percentage of population.
 If all matters go as present de- velopments indicate, the National Power and Light company will prob ably assume control of it's equity in the Birmingham Railway, Light and Power company. and negotiations will start at once.
 H. C. Abell, president of the Ma tional Power and Light company, spent much of the past week in Bir mi npham