The evening world. Newspaper, February 8, 1921, Page 8

a ee THE EVENING WORLD, TUESDAY, FEBRUARY 8, 1921. has been fully amortized on a badis as unfavorable as under the Brooklyn elevated certificates. “The Interborough contract vir- tually provides for a guaranty to the gompany by the City ef New York for forty-nine years of all operating ex- Pes taxes, &c, a lump sum of $86,000 and 6 per cent. upon all new money provided by the company, The city is to put over $70,000,000 into the project and not to recelve a farthing on this investment until the company has received all of these payments for each and every year which deficits are oumulative at compound interest, “The Interbotough Company will be guaranteed clear profits of $6,835,000 for over eleven years beyond contract No. land twenty-three years beyond contract No. 2, Thus the aity is to surrender the prospect of large prtot- ita or much more favorable contracts after 143 and 194 and to substitute therefor its guaranty that tha com- pany @#hal! have all that it can earn ‘until 1917 and $6,335,000 for each year therenfter, “Assuming that in 1943 and 1954 the terms for the renewal period would reduce the profit to the operator to 7 per cont. upon $48,000,000, which the company assorts represents its original in- @inarily be done by the parent com- pany to the subsidiaries. “The Interborough contract offers no incentive or reward for efficient and economical operation, but invites waste, Inefficiency and politica: manip- ulation, After several years have, passed under the new contract, the company will earn soeteting - penses, oto, the guaranty of $6,336,- 900 and carrying charges upon the new company, which the company ia to provide, “But the company is to receive nothing further until the city has been paid 8.76 per cent. upon its money for @ach and every year, the early deficita with interest thereon being compounded semi-annually. The company will have received about 8% por cent. upon the funds which it has provided, old and new, as a first Hen upon the income; but it te prec- tleally certain that the company will receive no farther su before the termination of its con “Suoh being the case, it is evi- dence that after the company has earned enough to pay its the incentive to operate tl Foad economically and efficiently will pod ag The company’ will not be increased by economy and efficiency and it will not be decreased by waste and ineffi- TR. Joseph's mother, whd Rves at No. 471| CHRIPTIWS s-11 WITH CIDER. No ACE OF GIRL, east 184th Strest, Hkewiee nard Wt had PORTSMOUTH, MH. Feb. 8 ARMED MEN STOLE) teen « tong time cince she had scen| Franklin D. Roosevelt, formerly Assist- her son, but #he understood that he|ant Secretary of the Navy, yesterday had married some one. vattended the launching of the subma~ (Mother Gays She Has Not Seen fine G11 at the navy yard here. His Anna King in Months—Search for Her Continued. ‘Those engaged in the search for Anna King, the gift kMinapped by armed men from the home of Louls Albohn in Soardiale, are to-day still without alue to her whereabouts, One of the kid- pappera sald he was Walter gJoteph, an claimed to be Anna's lrustand, bat none of the Albohn family knows whether she ie married to him or not. Anna's mother, Mrs. Lena Drossel- meier, who waa found to-day at No, 208 Hast I6fd Street, said she had not seen her daughter in months, Wat daughter, Miss Anna 1. the sponsor for the craft, ovdr the of which she broke a bottle Misa Roosevelt received a_ gol watch from Capt. Louis De Cor nt_of the yard, In the omployece. ‘virtually be id in thie th city, y pal case by the “The guarantee of $6,236,000 ts based upon: from inadequate ser: wrist sa to the company -.winnet wd remain’ st 000, no FORTY-EIGHTH DAY OF FAST COMPLETED ‘THE DALLES, Ore, Feb. 8.—George ¥. West, charged with having slain his wife three monthe @eo, has conpicted his forty-etghth dey without food, ac- Cording to physiciana at the hospital ‘where he the lain since an attempt to take his own Mite by drinking acid. ‘The doctors also sail that West had not taken more than two quarts of water in all uring bis fast, ‘He ts #0 badly burned Internally that he cannot ewallow anything. better service after the be- stoning of the new contract, the olty bear the expenses. The payments to the will not be Ercrenset, Dut se expenses will increase, such inerease must be deducted from the amount payable to the city. “Ts for éxample, the terma upon which the city may recapture the aaume that the bonds enn es 000,000. If recapture were delayed to the fortieth LA = the Lenten ba @ompany would have amortized a of ite bonds, even if they wore all re- deemed at 110, which is too high, and the amount to be paid by the city would be over $21,000,000, a clear profit to the company. “If recapture were delayed un- til the end of the lease, when the city would pay nothing for ur com wt vestment, the company will re- % i Solve under the terme eho ane. | Slat, “aene etense sirey Be The e est ks nding proposal upward of $45,- upplies may be purdha: at ever and above a reason- high figures. Political demands . exeees = ascoumulations able profit of 7 per cert. after may be granted. Unnecessary sinking fund during the last years 1943 and 1954 respectively. Gficers and employees may be the terms of thie rect, That profit would not shared with the city either directly or indirectly.” MEANT A BiG DEFICIT IN BROOKLYN, ing of the Brooklyn system, “The Interborough Company will obtain no further profit beyond its preferentials, and as subsidiary and affiliated companies will not share thelr profits with the city, there will be a strong inducement to shift much of the profitable work that would or- ut upon the payroll, Every such increase In expense after a few years will not reduce the = pany's return; it will be paid vir- tually by the city, for the cit; will receive no interest until all such expenses are paid.” Satin Dresses as Low as $25 Canton Crepes, Taffetas, Georgettes, Tricotines, Satins, Crepe Meteors, Crepe de Chines and Serges There at the last bell IVORY GARTERS last s0 long, you can't remember when you bought them, They are made without metal which rusts and rots and cuts down ordinary garters before they’ve given you the term of service you have a right to expect. What's more, Ivory Garters have no Speaki Commissioner Maitbie said: “Although, according to the com- pany’s estimates of earnings, the In- come from the system will be suffl- cient in the twelfth year, or there- abouts, to pay its preferentials and fixed charges upon the city’s invest~ ment, the cumulative deficits for the preceding years even without interest will be probably about $30,000,000. ——————— $14.95 to $45 ‘The interview | sought with . Mr, Shonts was not on Inoreased ; but on the possibility of 2 York City securing the tre- jous revenue from the surplus power of the subways, New Spring Model Fine Satin Dress, On th 1 the traf 2 i iat wercty soreente apprent> | lu Seadiy teens, is seta is a Don cadar ts WH ot See te a Mately to 1,000,000,000 kilowat |decrease year by year after the Rosettes, Excep- grow soggy; to on your legs twelfth year, but it will be many hours, over the'amount necessary tional Value, mind, Every inch around an Ivory Garter Bo run the reade—e surplus, the |2enrs {hereafter betore the deficit will $25 is airy, clean and tough, enduring fabric Immense volume of which exceeds 8; pe reins. ee the web that goes into a never-let-go clinch the power necessary to run all ch he Bay have marched hand in hand with the with your leg, holding secure without ten- ; either by taxation or by the iswuan: " \ y e, e eee vere lee city bonds. If the former, the tax- thinkers. The highest civilization dwells | sion or binding. Service Commiss| nol 19 | payers will be heavily burdened; if with the best cooks. Edison Company. the latter, the borrowing capacity of Ivory Garters never take thecount. They entire power matter was set | the city will be greatly reduced. » in ‘Tho Hvening World at the), case, the city recaptures | the give you double the wear you ordinarily third tracks and extensions subse- et. Ivory Garters serve so well and long, time of my talk with Mr. Shonts, bat t to the expiration of the subw Lorene ie i the reason Mr. Shonts ingisted on Tenge, 1 wil Srave to bay large putt SAUCE they’re like a member of the family. r tl struct hough tremendous factor their cost Will have bean sompletely po bnapbelicie yor parent | No matter how rou may be fred, rote ots amortized, For example, if the city = di Rien; | "Tell yo desires to exercise this right at the tte oes mas energies the|} other words, the gist at Mr,|{!me of the expiration of the subway on id's fe im ooo ts | 8 proposal to the city, for] cauai to nt lenst 62 per sent, of ores ; ‘ll ‘Tailored Suits Coat-Wraps he urged me to arowse public! inal cost, although the whole cost has af ody vp agp yt vet i i was thie: been amortized ahead of any pay- West St., N.Y. for n= | in in } ment to the city of interest and sink. ing Suggestions,” A really | : . Ing fund charges on the city's large useful cook book, Smart Spring Early Spring “In cage of recapture by the city at | Models. Styles . ; the expiration of the subway lease or ‘ at any time thereafter, the city will Poiret Twills, Suede Velours, ] have to pay for the property, which Velour Checks, Polo Cloths, Tricotines * Silvertones | and = Serges. and Bolivias. | | $16.95 to $50 $15.95 to $50 . | HAMILTON GARMENT CO. 307 FIFTH AVE., Near 31st St. “A Filth Avenue Building Exclusively for Women’s Apparel!” Remarkable . - Mid-Winter Shoe SALE 6 Raa kind of shoes you need RIGHT NOW—at prices so LOW that they SDAA EY Sweeping Reductions of he thought it would be as- that subway would get the iy advantage out of this than the believe Mr. Shonts said that Mr. ih had already prepared in the si of legislation, that we (the pu! ) ought better it in the Legislature ourselves. ING THE “PREFERENTIAL” i ; ag require an explanation—which is simply Ladies’ High Shoes. NADEQUATE SERVICE. is retorentnt of | $6,336,000 that the open winter has caused less than —P4/ Hish and 25 to 40 Zo twas. well set Orin by, Fuble the usual demand for high shoes, and our — ll Leathers, Throughout our entire stock. An Commissioner Milo @t the time the contracts were that $ a surplus stock MUST be moved. A big reduction in prices will move it. Hence, some thousands of pairs of all brand-new high shoes for men and women —all shoes from the famous Rice & Hutch- ins factories—are now put on sale, in all our stores, at 6 $°7.85 7: $ 85 SALE NOW ON— COME EARLY Signet Shoe Co. 1345 B'way, Opp. Herald Bidg. Harlem, 112 W. 125th St. Bronx, Ave., and 149th St. Brooklyn, 557 Fulton St. NEW STORE: About Feb. 15th our new Times Square store will be ready, at 135-137 West 42nd Street. Retailers of Rice & Hutchins Educator Shoes ‘For the Whole Family" Re STORES OPEN EVENINGS — unlimited selection of complete suites and individual pieces. Many at less than pre-war prices. Hun- dreds of bargains marked with Special tags tied to original tags showing the actual amount you are saving. Certainly— Our Liberal Credit is at your disposal PLAIN FIGURE TAGS ON EVERYTHING body: jtever may be the changes in finances of the present subway, it lent that true net earnings can- Englander Double Da-Bed Complete with mattress and spring, as illu $30.75 Sale of Men’s Spring Hats $2.94 There are only one thou- sand—all we could get—at this exceptionally low price trated, at-—____. i —} expense of the subways, where wil be borne by the city wor loss all expenses ond preferentials ! t ‘to be deducted before the city re- ; anything upon its new invest- \ \ any increase. in expems revults bf y in @ reduction of the aity's ; ‘Thus, if a national income tax | is Jevied upon all companies, it will ECONOMY, SEEKERS ere High Grade Four-Piece Queen Anne Period Suite in American Walnut or Mahogany Consisting of BUFFET, CHINA CLOSET, SERVING CHEST, DINING TABLE, 48 inches, 6 ft. extension. Four Pieces, $287-50 as illustrated, All new blocks; colors include tan, pearl, Oxford gray, seal, olive, poplar, also black eo iad ah i Mewe-Main Floor, 35th Strevt & Herald Square Let High Grade 3-Piece Period Lioing Room Suite With cane panels, mahogany finished frames, upholstered in velour, with ns with Springs in the to match, illustrated. Now OPEN SATURDAY EVENINGS. MOTOR TRUCK DELIVERIES WiiCon 6" hvexl5"St New York