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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Nov 24, 1897
Page
6
The Railroad Commission refused to approve the 99-year lease of the West End railway to the Boston Elevated, finding the guaranteed 8 percent dividend excessive and a public burden. It warns the measure would cement a long term rental against public policy and hinder future transit regulation.
The Railroad Commissioners refuse to ratify the lease of West End Street Railway to the Boston Elevated Railway. They note the 99 year term and joint ownership rhetoric, but emphasize statutory public safeguards remain, as the lease would place the West End under Boston Elevated immunities and exemptions for 25 years from June 10, 1897, raising novel issues about public transportation duties.
The court weighs whether lease terms on rent and service align with public policy given the lease scope. It notes duties to keep railways in good condition and comply with laws, with the lessee funding additions. absence of a travel facilities preservation clause is noted but not deemed vital to enforceability against the public.
The court weighs whether a West End lease can immunize the subway and streetcar system from full legislative control. It notes general laws apply to safety and transportation and that immunity would fall from statute, not lease terms, risking delayed upgrades. The decision emphasizes keeping regulatory authority to protect public interests and hints at further analysis on rental terms.
An 1897 board ordered inventory valued the West End system at 25 606 807 87 with outstanding stock and net debt totaling 341 000 a deficit of 734 384 91 indicating impairment to common stock by over 8 percent of par value per 100.
Boston officials and West End railway figures react to the commission's disapproval of the 99 year lease plan. Samuel Little and Mayor Quincy offer silence while others argue the decision protects the public from excessive rentals and corporate power. Congressman Fitzgerald and several representatives hail the ruling as a victory for people over a favored contract.
The Boston Post questions the 8 percent guaranteed return to West End stock for a 99 year elevated railway lease. It argues taxes and high dividends inflate public costs and urges lower rates, noting the scheme would double West End share values and burden the public.
The 1897 act shields Boston Elevated lines with tax and fare exemptions for 25 years, allows East Boston tunnel lease, and permits mortgage security but not bonds beyond 20 years. Immunities and contracts are designed for future generations to decide, with revocable elevated rights after 10 years.
A court or council rejects a long term lease of the West End transit system as contrary to state policy. The plan would grant control for decades, risk immunities and impose burdens beyond legislative consent. Proponents’ aims are noted, but the lease is deemed improvident and not essential to public ends.
The Hon. W. A. Bancroft refused to discuss the Boston Elevated road project after a Cambridge residence visit. He offered a jesting job on the elevated line and declined to reveal future plans or opinions about leases amid regulatory setback.
The Boston Post argues against approving the 8 percent lease of the West End road, urging the Railroad Commissioners to protect the public. Editorials cite franchise payments by Metropolitan and West End lines in New York and Boston, warning of a ninety-nine year burden on future generations and urging a stand by the people.
The annual gathering shows disappointment over railroad commissioners’ lease decision. President Samuel Little presided as about fifty shareholders attended. The board vote elected twelve directors with Henry D. Hyde removed from the slate after his death. shares totaled 115,19 cast for all listed directors.
Judge Gary who presided over the Haymarket case is to chair the second Luetgert murder trial if he can endure the strain. State Attorney Deneen and Attorney Phalen will confer with him this afternoon and a decision is expected favorable. Luetgert told Judge Horton he believed both Horton and Baker were biased against him.
Fritz Meyer, condemned for the murder of Policeman Frederick Smith, was sentenced today to be executed during the week beginning January 10.
A farmer Henry Oates, 64, was assaulted in Quakers Ridge Greenwich by an unknown Black man who struck him with a stool. Oates lay unconscious, later crawled to his home. a doctor warned he may die. Authorities seek the suspect who claimed to be from White Plains.
The battleship Oregon suffered a coal bunkers fire caused by spontaneous combustion. Crews battled the blaze for eight hours with 250 tons of coal aboard, water leaks cited as the start. The ship will be dry docked for repairs and re coal and loaded with ammunition before sailing again.
Frank Walsh of John Walsh & Son on Summer Street is in Dr Prior’s hospital with a bullet in his head after a 16 year old named Costello entered the store and seized a revolver from a desk. Costello claims he did not know the gun was loaded.
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