Word: ownership
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Dates: during 1900-1909
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...over-capitalization was very easily exaggerated and that much of the cry against watered stock is really against capital represented by the losses which the companies have incurred in experiments and improvements. From there the speaker went on to show that even though some over-capitalization did exist, municipal ownership was not the remedy. He showed that in Massachusetts over-capitalization was prevented by statute and he argued that the same thing could be done in New York...
...conclusion the speaker established the fact that the effective remedy for the evils existing in New York was not municipal ownership but regulation. He showed that statutes already exist which give the necessary powers for regulation, and he called attention to the fact that there have been concrete examples of successful regulation even in New York City...
...Hinckley, continuing the debate for the affirmative, said: We have already seen that street railways are public utilities, and as such should be regulated for the public good. This would be brought about by municipal ownership, which would result not only in better and more efficient service, as shown by our first speaker, but would also be a distinct economic advantage to New York City...
...exceeding $200,000,000, for all the roads in New York City. Acquired on such a basis as this and with present annual profits of nearly $25,000,000, it is clear that whether New York should choose to lease or operate the street railway lines ownership would be a distinct economic advantage...
...finally, we believe in municipal ownership because it offers the only wise solution of the rapid transit problem of the future. In a word the interests of the public are directly opposed to the ownership of a public utility by a private corporation and can never be satisfied short of municipal ownership...