Minutes 07/20/1926 - Laserfiche WebLink

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July ~0, 1926 and has been recognized, ap~oreciated and inserted in the recent Richmond franchise, which is operated by one of the probable bidders on this franchise. ! contend that that portion of the streets occupied~by the tracks is ~or~ the exclusive use~ cf the cars when the cars so de- sire to use it. That is, their cars could be run so.close together as te absolutely prevent anyone else from using that portion~of the street dedicated to the use of the cars. Third- No schedule has been submitted to the council showing Upon what total expense they base the 6~ cents minimum rate. Suppose after the franchise were granted, a position was taken by the grantees that the 6~ cent fare w~s baaed on a 15 minute schedule, that this sche- dule was unsatisfactory and we wanted a five minute schedule to certain sections, under these conditions would it not be immediately necessary to raise the fare. Fourth- The negro question has absolutely been forgotten. There are no bus provision~ m~__de for them. Would a transfer to a negro street car 'rider entitle him to ride the busses? This question should absolutely be settled before a franchise is given. Fifth- There is provision for 8 per cent guarantee on the capital invested and you know the Corporation Oommission is the sole arbiter in determining the amount of the capital vested. Why not say their earnings shall not be gre~ter than ~ per cent? Should a high fare upon which they earn ~ per cent be increased to permit them to earn 8 per cent when other service corporations and priviate individuals may not be e~rning that much on their capital investad? If we are in position to grant 8 per cent on $1,500,000 why not .make it munci~ally owned, invest $350,000 which will furnish a service which will be equal to that proposed by your franchise, give us ~ per cent on our money invested and save the people $100,000 annually? Sixth- The whole crux of the situation, the whole milk in the cocoanut hinges around and IS the ~mount which the Corporation Oommission says is a fair amount upon which the V.E.P. should earn dividends. The Corporation Commi.ssion stye that at present this should be over $1,000,000 for the street car system as it ex~sts today in your city. There will be an in- crease of-this amount when the $500,000 with which they propose to pave streets, reimburse present jitney service and buy a few accessories, is em~ended. Your Committee, I.understand, have had it valued and $27~,000 was stated ~o them to be a fair value. Quite a dmfference b&- tween that and $1,000,O00. Portsmouth is a sity of short hauls. I believe the street car will be antiquated in five years ~d if we grant a 30 year fr~nchise I will promise you that ir- respective of the future medes of transportation in this city you will have the street cars with you, for if they are permitted by the council in this franchise to earn 8 per cent and a fair value is made by the Oorooration Oommissicn of their present holdings, over $1,000,O00, why should they not reap year after yea= the $~0,O00 which your council and your Corporation 0ommission by this instrument gives them?" Then Mr. E. W. Ms, pin, Jr., moved that the privilege of the floor be extended to any one present who may be interested in these ordinances. The motion was adopted, and Mr. R. B. Powers, representing protested the routing~of street cars past their Oh-.~rch. The following resolutions adopted by the Portsmouth Ohamber presented to Council July 13th, were read: "WHEREAS, the Portsmouth Chamber of Commerce has had under consideration and study for the past two years the matter of a unified transportation system in this Oity, WHEREAS, we believe that no city can develop as it should without a sound transportation system, the Park View Methodist Ohurch, of ~ommerce, which had been WHEREAS, we believe that the coming to Portsmouth of the Stone and Webster interests, through the acquisition of the properties of the old Virginia R&ilway and Power Company~ pro- mises more for the city ~han any other development in its life, WHEREAS, the plans of this compan~ provide for an additional-investment in Portsmouth of ~ver a half a million dollars, WHEREAS, we believe that the coming of the Stone and Webster interests to Portsmouth marks an end to the misunderstanding that has tong existed between the public and- the old com~ PanY, WHEREAS, there is now before the Oity Oounoil an ordinance to unify the local transporta- tion problem of the city b~ co-ordinating bus and trolley service in a manner which we believe will be to the best interests of the community by providing a sound transportation system and allowing a fair return to the~ company for its investment~ WHEREAS, we belie ve that it will ever redound to the glory-and credit of the present Ooun¢il to finish its present task, in connection with the transportation problem, over which it has labored many months, THEREFORE, BE IT RESOLVED, by the Officers and Directors of the Portsmouth Chamber of Oommeree, that a copy of these resolutions be sent to each member of the City.Council, urging the adoption of this ordinance at the ear~iest date possible and HE IT FURTHER RESOLVED, that a copy be sent to~eh of the civic ¢lubs,~uring their endorsement to the end that Portsmouth,s transportation affair my be early intrusted to the slncer~ty ~nd to the constructive and progressive management of Stone and Webster., Messrs. W. L. Bennett and Sol Fass, representi~g the Chamber of 0ommeree, O. S. Sherwood repzesenting the Retail Merchants Association, L. Fry, J. M. Overtcn~ NoPherson, and C. W. Johnson, spoke in favor of 'ozu~fied transportation system. J~ Y. Robinson sp~ke in favor of _~$$ip. al c~nership. Judge Gilmer stated that the OonsolidmtedBus Corporation and Virginl& m£ec~rmc and Power 0o. had reached an ~greement on buses.