Evening star., 1953-12-09
WoIfson Answers Questions on Dividend Policy


just wondering if perhaps you
have some specific ideas that
you would like to throw out for
this committee to give weight
to,
A. Yes, sir, it has been worry |
ing us a great deal and some of
the witnesses you have had be-
fore this committee representing |
various citizens organizations |
and also individual citizens may |
be able to come up with better
solutions than we, who are sup
posed to be the transit experts.
We haven't got a monopoly on
the transit industry brains. The
thing is so tricky we can't come
up with a solution. believe
that from a top level standpoint
if complete survey is made of
the problems, for example, the
parking problem, the automobile
problems F.. we are willing and
able at all times at our own ex-
pense to help in every way pos
sible. We don't know the solu-
ton. But we think it is our duty
and responsibility to this COM
munity to try to devise some
method to keep transit rates as
low as possible, to speed up traf-
f1c and bring the traffic into the
downtown areas and outlying
areas in such way the values
of property do not depreciate and
people get home and to their
work as fast as possible and we
have more of a satisfied COM
munity. don't think the
answer will ever be developed un-
less a proper survey is made by
independent people that have no
ak to grind, no resentment to-
ward Capital Transit and where
Capital Transit officials haven't
any resentment toward local
business people, something indie
pendently set up that can come
forward with recommendations.
@. I think there was one sug-
geStiOn thrown out with
regard to the study of developing
SO-called fringe parking areas,
where people can come in from
many of these densely populated
sections, leave their cars, be sure
that they were under proper GUS
tOdial control, and hop on to a
transit conveyance and come
Immediately into the community.
A. Yes, sir. Some of the Off
cialS of our company have looked
into that, and they think it is a
possibility that might be one of
the solutions to the problem. Mr..
Broadwater advises me that two
and half years ago, we made
study and recommendation to
the motor vehicle parking group
that we will spend $4.5 million
on a definite plan. We haven't
received any word on that two
and-a- half year-old proposal
And those are the kind of things
I can't understand.
@. Senator Morse: To what
extent do you think your COM
pany has the duty to go into an
area with service before the pop
ulation in the area can supply
you with profit?
A. Senator, I think that anv
transit company operating in
any community has that obliga-
ton to the community. I
would say this: That if you gen.
tlemen won't object-and I am
not advocating any transit au-
thority-I had some work done
in conjunction with my thoughts
and work, and in a couple of
weeks I could present some facts
and figures that will show, on
transit authority, which I am
not advocating, that a 15-cent
fare can take the place of any
increased rates, by having one
transit company operating in
this area Another thing
we tried to work out is if we
bought all the other lines IN
here, if we could reduce this
rate. if we absorb these COM
panies and have only one presi-
dent. You don't need more than
one garage. Duplication of eff
forts can be reduced, and op-
Grating over-help can be reduced
tremendously, which automati-
cally reduces the rate. We have
made surveys like that.