Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-14
Street ALWAYS
MAKING PROGRESS
Investment Bankers Find
Better Support Among
City Authorities.

That mass transportation win con-
tinue to be handled In the future by
the street railways in the larger cities,
that management and equipment are
being steadily improved, and that lnu-
nicipal authorities are seeing the need
of closer cooperation in helping public
utilities are some of the conclusions
reached by the Investment Bankers
Association Committee on Public Utili-
ties, which submitted 1t annual report
at the White Sulphur Springs conYen-
ton. In view of the special interest in
the street railway situation in Washing
ington the report Is given below, some
of the findings being of far more than
ordinary concern:
Progress In Two Directions.
'The street railways continue to
struggle against the difficulties that
ress slowly, but surely, in two directions
that are essential to their reoccupying
their rightful place in the public trans
portation of our larger cities. These
directions are in the solution of their
own essential problems, ie, types OF
equipment, details of organization and
management, fare structures, ETC., and
Tin which real progress Is being made
in an awakening realization by munich
pal authorities that their cooperation
is essential in securing that use of the
public thoroughfares' that will give
them their maximum capacity. This
Is crying need. Cars can be made
lighter, noiseless, more comfortable,
faster, and many other improvements
are possible, but unless street uses are
co-ordinated, such improvements avail
but little. The highest uses of different
thoroughfares must be the aim. Is the
street to provide parking space. q way
for trucks, for private motor cars, for
buses, for taxis, for the street car, or
for what combination of these uses?
Only the intelligent cooperation of
municipal authority can find the answer.
THE efforts of street railway man
agements and of the American Electric
Railway Association are being con-
stantly and with increasing results ex.
erted in these directions. No type of
transportation has yet been developed.
or seems likely to be, that can handle
the mass transportation that can the
street railway. The larger urban COM
munities cannot dispense with the COM
munity service of the street car. But
how, in the face of other street uses,
Is 1t to be co-ordinated with them most
effectively? Not until this answer Is
found and until the beneficiaries Of its
service, which are not alone the car
riders, share many burdens now ex-
| clusively forced on the car companies
as an inheritance of the simpler past,
| can they recover the earning capacity
that win make them again a desirable
| field for investment. In the meantime
| they are entitled to every assistance in
/ their heroic effort to come back.
/ T.
Such facts as the following are
illuminating. Twenty-four cities are
now making some form Of trafic sur
vey. There is an average use Of only
IT persons per motor vehicle. Surveys
in Chicago and Kansas City showed
that tWo-thirds Of the travelling public
used street cars and busses, while these
| vehicles were but orle-twelfth of those
on the street Autos and taxis com.
prised over 90 per cent of the vehicles
moving. yet carried fewer people than
car IS primarily responsible for this dis
| appointing record, studies 60 to show
!, that its i'll effects have probably reached
their limit. Other interesting statistics
that contradict accepted notions have
Deen collected in search for the 500
luton OF the transportation problem.
There is no question but that the IN
dustry Is making determined effort
to adapt its service to modern condi-
tons.
Many Maturities This Year.
| Meanwhile statistics show the fol-
lowing financial results: New financing
In the country by electric railways
was in 1880 $l3,877, 900, with probably
another $25,000,000 for joint COM
panies. This was all in bonds or short
term notes. with no equity financing.
Notes In the case of certain equipment
trusts yielded per cent, but otherwise
ran to per cent; bonds yielded from
s to SIS per cent. The new financing
| In 1880 was in smaller amount than
for the preceding four years. OF strict
~ street railway securities maturing in
1880, $16,179, 900 are reported as re-
| tired, $10,374, 900 refunded, $7,813,OOO
extended and $6,843, 900 defaulted. Ma
TURTLES this year will total ssh ,897, 200.
Eighteen electric railways with 1,72s
| miles of single track, went into re-
ownership in 1880, a marked increase
over either OF the two preceding years.
| AT the end of 1880 Al street railways
were in receivership.
Street Cars Here 70 Stay.
The case CT the street railway is q
d1hcult one, but not beyond solution,
and It may be expected that the
exlgencies OF the case, coupled with the
public need for more intelligent use
OF It's streets, will In time produce the
solution. That the street car holds the
be dispensed with In our larger cities
seems conceded"
EllRTuEP nRAD iM DANNY