OCR Interpretation


The day book. (Chicago, Ill.) 1911-1917, December 07, 1916, LAST EDITION, Image 2

Image and text provided by University of Illinois at Urbana-Champaign Library, Urbana, IL

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1916-12-07/ed-1/seq-2/

What is OCR?


Thumbnail for

chise adviser then, and Walter Fisher
is the city's franchise adviser now
with the loop press backing him up,
particularly the News and Tribune.
The News has ordered the engi
neers on the subway to obey Fish
er's orders on franchise matters, a.n&
now the Tnb orders th&'public to do
whatever the engineers tell them to
do. Nobody is to question what the
commission reports, Decause ttye Tnb
says no one knows anything about
the blamed thing anyhow except the
engineers. So we are supposed to
shut our eyes, open our mouths and
swallow any.old traction pill Dr! Wal
ter msner and his engineers feed us.
Sam Insull is the big boss of the
public utility trust in Chicaeo. He
has built up a monster pyramid of
capitalization that apparently begins
to feel the need of a few props to
keep it from toppling over. So he
has two stunts he must pull off one
is to get the city to abandon the can
dle power test for gas and let Sam
land us artificial gas that is a by
product of coke manufacture and
will cost him less than 15 cents per
1,000 cubic feet.
If Sam gets away with that he'll
have the gas situation fixed to suit
him and. will make a bigger profit on
gas under the British thermal unit
test than he does now with the can
dle power test The advertisinsr cam-
paign to -teach people to use gas
"wuugo 10 uiucij gciuug cut: iii reaay
for a gas you can't use for lighting
purposes unless youuse a mantle on
the burner.
The other prop is the second big
unification scheme. If Sam gets,
away with that youH pay 2 cents for
a transfer between surface and "L"
lines to begin with, and also .to end
with. For Sam's gang never lets go
of anything it gets its meat hooks
on, in the way of tribute from1 the
public.
And Sam will have a. perpetual
street railway franchise ihat will end
for all time Chicago's dream of pub-ownership.
Under the Fisher unification ordi
nances of 1907 we were to nile up a
fund out st that 55 per cent with
which the people were to buy the .
surface lines. We've been piling up
that fund for about 10 years and we
now have nearly $20,000,000 with
which to buy. But strangely enough,
while the fund has been growing to
$20,000,000 the price we have to nav
has gone up nearly $106,000,000. We'
could have bought the surface lines
in 1907, under the Fisher ordinance,
for $50,000,000. The price is now
$150,090,000. That is, we were within
$50,000,000 of the purchase price be-
fore we got a nickel in the traction -'fund,
but now that we have $20,000,
000 in it we'd have to add $130,000,
000 to that in order to buy. ' So we
are $80,000,000 farther away from
municipal ownership than we were
before we started to save money to
buy.
Chicago was bunked in 1907 arid
she's going to be bunked again in
1917. N
You can bet your last nickel that
when Lowden appoints a state board
of "public utilities it will be a Big Biz
board that won't throw a feather in
the way of Sam Insull issuing bonds
and stock as fast as they can be run
off the printing presses.
And ha'll have darned 'little oppo
sition from the trust press, for the
boys need advertising at high rates
nowadays. White paper is going up
to beat the bahd. Advertising will
have to go up, too. And nobody can
stand that better than the public
utilities. Besides, the big Field es
tate is interested in Insull's public .
utility trust, and the Field heirs will
need plenty of money because of the
high cost of high sassiety. And the 1
Field store is a big advertiser.
It's a fierce game the Chicago, folks
are up againsL What they .are. -about
to have done to them is cer
tainly a plenty.
o o
Jos. Kortach, 5, 4619 Laflin, killed
by auto.

xml | txt