OCR Interpretation


The day book. (Chicago, Ill.) 1911-1917, March 26, 1917, LAST EDITION, Image 4

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

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1917-03-26/ed-2/seq-4/

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thorized strength the militia 400,
000 officers and men.
Call for volunteers numbering
anywhere between 250,000 and 500,
000. KEEP YOUR EYES ON THE CITY
HALL TRACTION GRAB
BILL UP TODAY.
Watch your aldermen today! See
if they allow the street car barons
to grab the streets of Chicago by re
commending the passage by the leg
islature of the enabling act of the
Walter L. Fisher "3b-50" bill.
If this bill goes through experts say
the street car crowd will have a per
petual grip on the pockets of Chi
cagoans. Under the bill the surface
lines will be given a 30-year fran
chise. If at the end of that time the
city of Chicago can pay one-half the
capitalization of the lines and give
bonds at 6 per cent for the remaind
er, they can take over the franchise.
Otherwise the companies are to get
another franchise for 20 years.
Fisher, who is fightirfg for the car
barons, is whispering to the people
that this bill is the first step toward
municipal ownership. Figures show
how impossible it will be for Chicago
to take over the lines at the end of
30 years. The surface lines are now
capitalized at $250,000,00. Improve
ments asked for in the Fisher bilj
provide for an increase capitaliza
tion of $275,000,000, making the to
tal $525,000,000.
Under the law Chicago can only
borrowto the extent of 5 per cent
of the assessed valuation of the city.
The assessed valuation is '$1,000,
000,000. That allows Chicago's en
tire indebtedness to be $50,000,000.
Chicago's indebtedness is now $46,
000,000. Ony $4,000,000 more can
be borrowed. It would be impossible
for Chicago to raise over $250,000.
000 to pay for one-half the capitali
zation of the surface lines within the
prescribed 30 years, in addition to
giving bonds at 5 per cent for the
other half. Therefore we would be
forced to waive claim to the traction
franchise.
NO FAITH TnGERMAN PROMISES
U. S. AGAINST REAFFIRMING
1799 AND 1828 TREATIES
Washington, March 26. Practi
cally accusing Germany of regarding,
treaties as scraps of paper, the U. S
government's note regarding recon
struction of the 1799 treaty informed
Gernlany that further "engage
ments" would be useless.
The note, made public in full to
day, idded that the government is
seriously considering whether or not
Germany's "flagrant violations" had
not abrogated the 17S5-1799 and
1828 treaties.
After the reciting of Germany's
violations of the treaties the note
adds:
"In view of the clear violations of
the plain terms of the treaties in
question, solemnly concluded on the
mutual understanding that, the obli
gations there under would be faith
fully kept, in view further of the dis
regard of the canons of international
courtesy and the comity of nations
in the treatment of innocent Ameri
can citizens in Germany, the govern .
ment of the United States cannot
perceive any advantage which would
flow from further engagements, even
though they were merely declatory
of international law entered into
with the "imperial German govern
ment in regard to the meaning of
any of the articles of these treaties
or as supplementary to them.
"In these circumstances, there
fore, the government of the United
States declines to enter the special
protocol proposed by the imperial
government."
In conclusion the note says:
"It would appear that the mutual
ity of the undertakings (the trea
ties) has been destroyed by the con
duct of the German authorities."
o o
NEW YORK STOCKS. Market
irregular. Trading slow.

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