My story . for transfers, and an immediate or initialrate of fare of three cents with one cent for transfers; 2. Profits limited to six per cent, on actual capital (including$22,923, for all existing property) ; 3. Rates of fare to be increased within the maximum if neces-sary to realize this profit, and to be reduced if not necessary; 4. The city to have complete and continuous supervisory con-trol of operation; 5. After eight years the city may name a purchaser to takeover the system at $110 per share, or it may itself purchase theproperty at this price at any time that the state laws
My story . for transfers, and an immediate or initialrate of fare of three cents with one cent for transfers; 2. Profits limited to six per cent, on actual capital (including$22,923, for all existing property) ; 3. Rates of fare to be increased within the maximum if neces-sary to realize this profit, and to be reduced if not necessary; 4. The city to have complete and continuous supervisory con-trol of operation; 5. After eight years the city may name a purchaser to takeover the system at $110 per share, or it may itself purchase theproperty at this price at any time that the state laws permit; 6. Questions of rates of fare under the six per cent, provisoto be arbitrated. The ordinance contains a safety clause which was fixedby an arbitration committee of lawyers of which City So-licitor Baker was one, and it provides that: In the event that the section of the ordinance dealingwith rates of fare shall fail in the courts, including thesubmission of the rates to arbitration, then the council.
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Keywords: ., bookcentury1900, bookdecade1910, bookidmystoryjohns, bookyear1913
