Perth Amboy evening news. [volume] (Perth Amboy, N.J.) 1903-1959, 1923-06-12
UTILITY BOARD
HOLDS HEARING
At Keyport, Where it is Said
$4,000 Was Lost in 3
Months Time
MUCH DATA GIVEN
To Prove That Company Can
not Continue-Protests
Made at Hearing

kEYPORT, June 12-Testifying
before the Board of Public Utility
Commission at borough hall here
Yesterday afternoon officials of the
Jersey Central Traction Company
made every endeavor to prove that
their trolley lines running fr orn
Staten Island ferry at Perth Amboy
to Keyport. Matawan, Keansburg,
Atlantic Highlands and Red Bank
was not only running at loss. but
tried to show that there is little
future in the present enterprise.
Before an audience that filed eg.
cry seat representing the interests OF
the people and including delegations
fro. Red Bank, Atlantic Highlands,
Keansburg and nearby places, the
hearing opened with the preliminary
outline by H. B. Gill. counsel for the
traction corporation who briefly
stated that the company since 1916
has made all efforts to operate the
line to the best of their ability. told
of the large funds advanced by the
American Railways Company, a
holding corporation of number of
trolley companies. He described in
detail the poor earning capacity Of
the line and pointed out to the in
adequate returns of the various diVi-
sions of the. line, declaring that 1t
had not even earned the necessary
operating expenses. In the four
months of 1923. Mr.. Gill stated the
company's operating expenses show
ed deficit of $4,000.
He also told of the $247,000 capital
stock of the company which the at
torney declared to be impaired and
that the company has met with un-
usual difficulties in making up the
payrolls of their employees in the
last few years. There is no pros
pect for any change of conditions
and results of every effort seem to
be futile" concluded Mr.. Gill, in
making the application to abandon
the traction line.
C. l.. S. Tingley, vicepresident of
the company testified. In response
to the queries put to him by Mr.. Gill,
the executive stated that he has been
appointed vice-president of the COM
pany in 1917 just about the time the
present holding company acquired
the controlling interest of the line.
He stated that company operates on
about 40 miles of track of the entire
line, thirty-eight and eight tenths of
miles being owned by the traction
company. The balance of the mile
age is belnS neld Dy Ine Company
through a lease from the Central
Railroad of New Jersey.
At this point Harry V. Osborne,
chairman of the utility board ques-
toned Mn. Tingley whether the
company plans to abandon the en-
tire line to which he replied in the
affirmative. He then continued to
tell of the bad condition of the road
beds of their complete system and
of the expenditures that would en-
tail in bringing the tracks into prop
er shape.
The witness described the financ-
ing of the present company stating,
that with the exception Of some over
100 shares of preferred stock the
American Railways Company owns
most of the common and preferred
stock. Mr.. Tingley also indicated
that in case the car line is abandon
ed the present security holders would
suffer a great loss. I'm event of dis
mantling the system the people
would not only lose the money but
the service" retorted at this point
Mr.. Osborn.
CONTINUED on page %