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Says That Calumet Railways Incorporated Will Start“If we are successful, the cities of East Chicago, Hammond and Whiting will have the best transportation system in the country, asserted Samuel Insull Jr., yesterday in speaking before the East Chicago chamber of commerce on the transportation question and the Calumet Railways.Mr. Insull painted y. dark picture of the possibilities of developing' a ear system on the ground work of the defunct Green lane, but he asserted that the investment of local capital in the new Calumet Railways company hail smoothed away a. great many of tin? difficulties.“The local transportation question, Mr. Insull said, “is a, very knotty one. It is certainly the knottiest, that, utility men, city authorities and business interests have to d^al with.TIMKS HAVE CHANGED.“Street cars were originally built when speed kings ran at. 12 miles per hour, and still operate when careful drivers travel at 40 miles an hour on the highway and motor coaches operating at the speed are not crowded with 30 passengers.“The street car has been improved, but by and large it is (he same piece of apparatus, competing with theso new agencies as it did with • the horse and surrey, and in many instances this condition has proved unfortunate.“The earning' power of street ua.rs has been cut down, declared tho speaker, while on the other hand, buses and modern competing agencies have riot the capacity to satisfy demands for transportation of great masses.Tl H VC) VEH OF CAPITAL“Then again the .street railways have a, peculiar financial arrangement, in that they turn over their capital very slowly, one every five years on an average. It can ho seen that, the investment in this sort of utilities must bo much larger than for any other kind of business.“If the Calumet region is to have good transportation, Mr. Insull continued, “it will mean Mm investment of largo sums of money. It is frankly, too big a. problem for your local business interests or the utilities to tackle alone.“Now just a word as to ihe part of the Midland United company forms in this- picture. W© are a holding company, which pools the financial surplus and the credit of our respective utilities, so that wo may do much more than could b©accomplished separately.“At first wo would have, nothing to do with the transportation problem here, but because we do serve iheso communities in other ways, and because we arc interested in tho development of your district, and because, some of your business menContinued on Pane Eighteen
Newspaper Details
Whiting Evening Times
Whiting, Indiana, US
Fri, Apr 25, 1930
Page 1
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IN, USA 07 Oct 2016
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