The evening world. Newspaper, January 4, 1915, Page 5

TAS FM i | ITSOWN PROPERTY Payment in ied of Dividends. on Millions Charged Up as Capitalization on Franchises, $3,120,000 EVERY YEAR. Action by Up-State P. S. 3. Come| mission in Westchester May | End Grab in New York. In The Evening World's sctinainn' in behalf of the public against the New York Telephone Company for cheaper telephone rates a claim has been put in by the company in the pending valuation proceedings that its franchise to use the city streets is worth $39,000,000 and that the peo- ple should be made to pay dividends | on that afmount capitalized, although the grant was given without cost. The telephone company is paying elght per cent. dividends regularly. Kight per cent. on $89,000,000 Is $3,120,000, which is the amount taken out of the pockets of telephone sub- scribers and users each year in this city as a return on something that be- lon@& to them and the right to use merely is allowed to the company. Instead of the company paying rent to the public for use of the streets, it has been making the public pay rent to the company to the extent of $3,120,000 per year in excess telephone charges on account of this use. FRANCHISES GIVEN BY PEOPLE MUST NOT BE CAPITALIZED. There has been much uncertainty in recent developments of rate regu- lation by Public Service Commissions as to how to treat franchises as a factor in valuations. The rule has been Jaid down definitely and clearly at last by the up-State Public Ser- vice Commission of New York. A week ago the commission ordered electric light rates in Westchester County reduced. The full text of that decision is now made public. Taking advantage of various ele- ments in that case, the commission's opinion was made a broad, sweeping enunciation of rules it intends to fol- iow in fixing rates for public service corporations, They will apply di- rectly to the New York telephone cage, which comes next on the calen- dar, and it may be assumed that the $39,000,000 franchise valuation and the $3,120,000 annual tax on the public will be thrown out. Referring to franchises, Commissioner M. 8. Deck- er, who wrote the opinion, declared: A FRANCHISE HINT FOR MU- NICIPALITIES.. “These franchises undoubtedly are property as agai’ tions or individua ap y but it is impossible Ject to taxatic io conceive in fairness how what the people have granted can be given a rate of return value in itself to be paid for by the people in rates for service performed under the grant. “Save where it appears that some- thing has been paid for such fran- chise, the law forbids capitalization on account thereof, and no ments appear in this proce: would bo entirely proper for the. mn ch Daly ig. It nicipality to provide us a condit!« inva fraachive that no value for sues franchise, except as payments are therein required, should ever be ap- plied in a proceeding involving the fixing of rates by governmental au- thority. 1s been and is now considered indirectly t hy it may not do dirertly it under the 1a "AN Registered in U. 8. and Canada _ MAIR vorne OPENS AN ACCOUNT IT TERMS 3 Px” “50 '6 Ox” 100 § Bowe a 1 oe Down "150! soley Mint L STATION sy ay COLUMBUS AVE KET 1034104 ~%7 EXC! | LADIES AND GENTE. eMEN'S HAIR BALDPATE) TWO GREEN STAMPS with every 10c purchase in the forenoon, and ONE Greén Stamp with EVERY 10c_ purchase in the after- noon.’ arn aseaaCUT OUT THIS COUPON It Is Good for 50 (FIFTY) a0 — with Purchases of #1 are Symp Only (Jan. 6) gusessessses Usual Co ir St sui renee te Green Trading Distributor in aah cl tepeey Building * ‘ay ‘one eek y bat you may otort as Seay “THE BIG TO I9Sm STREET MAIN BUILDIN The Very Modes in Overgaiter Lace Shoes in Vogue Today and for Spring Wear! A Price Which Is Less Than Wholesale; Here, Tomorrow, a Pair....... 1. 95 You will see duplicates of these very shoes in best shoe shops during March and April dt $3 and $4. shoes in a remarkable transaction from a high-class maker, 5 EVERY PAIR OF SHOES ABSOLUTELY NEW, PE FECT AND FAS FAS! IONABLE. pis as EVERY STYLE IN GUN-METAL CALF AN PATENT LEATHER. All heel heights and py uppers are of cloth in popular shades of fawn, the new sand color, taupe; light gray and tete de br TORE” porw swes, SIXTH AVE.. 53 to Women’s °° Overgaiter Lace Shoes § Under ordinary circumstances our prices would be no less than the een oo quoted above, but as we Pircast | 17,860 pairs of these Une of the styles shawn in the accompanying illustration. All sizes and ty in each style. Women who know rare bargains will surely buy three to four pairs while this opportunity lasts. f tires awe gre, ressgaably waritea a Ve" iven, but oat ee a (-¥ et" nay ‘one date good in as you MAIN BUILDING From Every Standpoint This Is Positively The Greatest Sale of Men’s Overcoats New York Has Ever Seen — 5,384---That’s the Total Number of High-Class and Stylish Overcoats AT SENSATIONAL BARGAIN PRICES for Tomorrow’s Selling | Overcoats $3 7 5 Overcoats 56 7 5 ‘|Overcoats $9. 7 5 Usually to $10, at e e Usually to $15, at e Usually to $20, at | OvercoateWould |Overcoats $19. 7 5 Overcoats $] 4 7 Dep riceas | Usually to $25; at Usually to $35; at Really, the Man Doesn’t Exist Who Cannot Be Plegsed with an Overcoat from the Enormous Assortments Offered in Tomorrow's Sale! We have jusr*consummated five most remark- Every as kind of an overcoat is included» The “cream” of styles and materials d able deals buying the big stocks on hand of fine} Padang = el li submitted bythe leading mills of America ne oat wisi “ Ee peter sale that ot grieve worac Datore hoor oft thn Hada Tor owes! | ond, Renee minae Soci at evans tr oes tie tics ithdl con guard aad kage nL aaa grades. $3.75 lots. All sizes. can be compared to this event, tomorrow. Enormous special purchases of overcoats of the following well known ° Materials in: This Sale: makes :— Snellenbury & Co., Finest of Chinchillas: | A. B. Kirschbaum Co., + yo Marks Rosenberg e Highest Priced Meltons Choicest Kerseys “‘Rochester’’ Brand rer s, ae HAY Eand Querooate | am as Fancy Overcoatings $ Shawl, Velvet, Ulster and Self Collars i Plaid Back Chinchillas Collection of Styles: Smartest Chesterfields Conservative Box Coats FA| Heavy Weight Balmacaans Dandy Looking Flaring Coats rind 4 | Coats with Plenty 0} “sé a, ie, Range of Ulsters and Great ANNEX BUILDING—-HOME FURNISHINGS This *25 Birdseye Maple Dre Tomorrow 1 MAIN BUILDING Here ’s The Annual Sale Of Sheets, Spreads, Pillow Cases, Ete. Unquestionably the biggest selling event of thi oods announced in twelve months. Quantities unlimited qualities ntee Bleached Muslin Sheets At These Sensat.onslly Low Prices Superb quality, heavy weight sheets of extra length, all hemmed tizes given here are before hemming Best 79¢ Bleached Muslin Sheets | Lent he Bleached Muslin sheets size 63x09 inches; sale 4% sie 61x00 inches, this 65. price, each sale, each woe hed Muslin Sheet» ar $1.05 Bleached Muslin Sheet» size 72x00 inches, this 5% 80x09 inches, this sale, each ach 69%e Most Amazing Values New York Has Ever Seen ino Sale of Pillow Cases! These pillow cases are made of the) Hest 26e Pillow Cones »i:¢ same quality bleached muslin a» the} S036 inches, thir sale sheets mentioned above, none bet-| es ter, Tremendous quenrisdes for your| 12'4¢ Pillow Cases soft fin cholee when this sale bhegine to ishet bleached muslin, 46x morrow 4M irches, exch Nie, We ond Zhe Pillow ( anew Rive! ens Se Pitlow Coase sise brand, 42, 46 and 0x36 inches, om thie sale V4e| sanderd bleached mus 12% (as illustrated) This dresser has # 24x30 French bevel plate mirror, The maple used in saconemneion see selected for its preity figure. Dresser has serpentine front, All wood Cie poor Ase wih heavy clawfeer, Well constructed gnd finish: 4 niiiooler to Match; formerly § Hf 16] Chairs or some in p silk plush eer one ry $10 ‘ se wight finish, § teinch 5 § large hooks ° $2 Mahogany Vinisned Tabouretios; very § neat design 53.50 Soft lop Mattresses; with good ticking i) covered § Even the most seasoned phrosph bet gpa oolnld man be amazed ‘oats the athe fh ey . Everybody wi sa nen rinond Mig oleic . Ri ectly—-tall men, short men, in en, fat men—-in @ wor idee wa ge O t eauties ay, | this Ot churn i gos without saving ta and we have prepared accord. | SPlendid Wearing Vicunas Full Silk Lined and Half Silk ingly. Half a hundred extra salespeople in attendance—entire Clothin, Grey and Brown Mixtures Lined Coats Department has been rearranged to make your choice easy. WON'T | English, Scotch and Irish Tweeds All-Silk and Half-Silk Lined Overcoats by the Hundred Included. ANNEX BUILDING—-HOME FURNISHING: At Less Than Import-Cost Sale Tomorrow of ‘‘Theodore Haviland’’ China Dinner Sets The Greatest Bargain Event for Many a Year in Our China Department Sota bet Matremen:| SEE ang Toate “Theodore Haviland” (Limoges, France) on « piece of * yan ticking ‘6. 75 Ie'tepated end made bg Pe cosieareremssamiliive mammmeeten : cro ree a mr ang. DUCED PRICES, and come to our Annex Building a» nari 46 ——— you conveniently can, tomorrow the day of thin grear eale io Peep Dinner | 108-Piece $40 Dinner | 100-Piece $40 Dinner Big Bargains in This Annual Clearance of Carpets, Rugs and Linoleums Velvet Carpets Pillow Conee else tae tied bhvote ia of “Theodore | Setsof‘Theodore | Sets of “Theodore | | »e-) vai a rrdsts | bs MT ih, ai” 9 fegehed seemed mvsi, OQe)) Haviland” China Haviland” China | Haviland” China | | (22800: & Pd i Thousands of Fine Bed Spreads Speelal, Tomorrow, at | Spectal, Tomorrow, at | Special, Tomorrow, at \ |) iis ee Vrive m4 tons U pot Oiten, Or 0 Mproade | 62.50 White Vaglieh Vrinied Rod $ $ $ 80 #1 oho me minster, and for aingle os % ote 69 medium weigh, primed sis nie © oe | Smyrna Py med White " pr Ei sedtce 6 ° e Remnants of Less Than Sines for ‘i ‘an 89% alt a; aac tii Af These sete ore complete tor 12 | The designe and shapes of shove Me 20 Yards 4 notin Vinichad ¥ te wiler to the above he ® Vor me le wis Sa ad ag Netra Monde |" fed tapoade oda I, eceleges, | | freeman the nenaies ero | Seclavieses breantest snd toned ged if jos etl . . y soln Chotee + ©, ete ond be complete “ 7 a What sie, 7g | tnoas prosy Gelgse:onch DED | | sve! dotery pocoree ta Reve! devigns, | for "2 foresee ‘ in| “ee WE GIVE ac GREEN TRADING STAMPS gmmmmmmmees J.B. GREKNHUT COMPANY comme WE GIVE ax GREEN TRADING STAMPS,