Perth Amboy evening news., 1923-01-19
S|LZER PUSHES
FARE ISSUE
Expects Recommendations
Made to Legislature Will
be Carried Out

TRENTON, Jan. 1e.-Governor
George S. Silzer came to the State
House yesterday from his Metuchen
home and lost no time in getting
down to real work, taking hold or
the executive reigns right where MS
predecessor, United States Senator
elect Edwards let go. He and his
secretary, Frederick NJ. p. Pearse,
spent the entire day in the executive
offices, arriving shortly after 10
o'clock in the morning and staying
until dusk began to tall last evening.
The new governor appeared to be
cutie confident that most of the
recommendations made by him in
his first official message to the leg
islature would be realized and put in
vogue. At an informal conference
with state house newspaper CORE
~spondents, Mr.. Silzer freely discussed
various state problems, devoting,
however, most of his time to the
public utility situation, the highway
problem and the prohibition issue.
Trolley Fare Issue
He once more reiterated his stand
for a five-cent trolley fare, or n
lower if possible. When asked if
he would have introduced In the leg
islature a bill carrying out his ideas
expressed in his inaugural address,
Governor Silzer replied hat "one will
be introduced" He added that If
the leaders on the other side didn't
introduce one, meaning the Repub-
licans, such a bill would be fathered
by one of the Democratic legis-
lators.
During the interview with the
states new executive, one thing was
very noticeable. 1t was apparent
that Mr.. Silzer does not wish to get
credit for himself for anything that
is accomplished in the legislature
along the lines suggested in his mes
sage.
"Will you have legislation pre-
pared providing for the ousting of
the present State Highway Com
mission?" the governor was asked.
replied:
81 understand that Senator Parry
introduced a measure last Monday
night which carries out my proposal.
If it does, and 1 am told that is the
case, L will be satisfied"
During the interview, Governor
Silzer went into detail concerning his
method Of bringing about a fve-cent
trolley fare. AS was brought out in
his inaugural address. the funda-
mental principle is Kidding the util-
ity companies of "watered" stock.
First of all, declared Governor Sill
ger, the companies contain a large
amount Of ''watered' stock, or stock
which is not represented by money
but merely exists on paper. With
this excluded, he continued, the
"honesc" value of a company's plant
could be arrived at and would be
materially less than the valuations
which those companies demand a
fair return.
Under his scheme, a company's
honest valuation would be determin-
ed by legislative enactment, instead
of by the Public Utility Commission.
Starting with a five cent fare, the
governors plan provides, the COM
pany would be entitled to earn a six
per cent return on its value; with
four and a half cent fare, a return
of seven per CEN and 20 On, the
principle being the lesser the fare,
the more return the company would
be allowed to earn.
Suppose the company Is forced
into a state of bankruptcy after
adopting your scheme" the governor
asked. His reply vas
"Well. suppose we had M trolley
companies now. Someone would
come along and ask for the privil-
eye of laying tracks on our streets
and we would grant such a privilege
only under certain conditions"
Mr.. Silzer said that he had gone
over the situation thoroughly and
has found that it is quite improbable
that a company would be forced into
bankruptcy.
ION one hand" he said, I'VE have
the innocent public while on the
other we have the stockholders of
the companies. 1t certainly Is the
states duty to look after the inter-
ests Of its people and that we shall
try to do"