. Electric railway journal . will balance each other. 6. The city may equip as well as build its own high-speedlines, thus owning outright its own system complete. Thisprovision is not a necessity if the company will furnish theequipment on fair terms, but it will obviate any necessity forthe company to make use of the citys guarantee on its oper-ating results in order to finance the equipment of the cityslines. It also makes it possible for the city to take over acompletely equipped system if it should decide to recaptureits own system at any time. 7. The companys system of surface lines shal
. Electric railway journal . will balance each other. 6. The city may equip as well as build its own high-speedlines, thus owning outright its own system complete. Thisprovision is not a necessity if the company will furnish theequipment on fair terms, but it will obviate any necessity forthe company to make use of the citys guarantee on its oper-ating results in order to finance the equipment of the cityslines. It also makes it possible for the city to take over acompletely equipped system if it should decide to recaptureits own system at any time. 7. The companys system of surface lines shall be financedby the company and the company must not be permitted touse the citys credit either directly or indirectly, but muststand on its own feet, and stand or fall as a result of itsown management and acts. 8. The city must be left free to regulate the companysservice under the Public Service Commission. 9. Change of fare or charge for transfers, etc., to be leftto the Public Service Commission, but no increase is to be. PHILADELPHIA SUMMARY DIAGRAM OF DISTRIBUTION OF INCOME ON PHILADELPHIA ANDBOSTON SYSTEMS for the companys benefit until the citys capital is treatedas well as the companys. 10. The contract of 1907 to be modified as little as may benecessary to correspond with conditions of this now due the city thereunder not to be abated ormodified. The company to cancel all claims on unearned andunpaid dividends cumulative since 1907, and change the dateso that 6 per cent dividends may be cumulative from date ofthe contract. 11. The term of the contract shall be fifty years or prefer-ably of indeterminate length, with provision that the citymay recapture either its own system, or both systems, time, after due notice, upon stated terms. In conclusion, Mr. Twining said: These suggestions aim to prevent the company fromplacing on either the taxes or the fare any burden notdue directly to the citys program, and to prevent thecompany using the citys
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