Word: takings
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Dates: during 1930-1939
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...contracts called for the city and the two companies to finance construction of the new subways jointly, then for the companies to operate them. The contracts, which run until 1967 and 1969, provide that the companies may take enough out of earnings to pay interest on the money they furnished and to make fat payments to a sinking fund. After certain other deductions, the city gets part of what is left. Most of the years there has been nothing left. The companies, which put up $334,000,000, have received some $500,000,000 in preferential allowances under the contracts...
There are two ways out of this situation-to raise the fare from 5? or to abrogate the dual contracts. Raising the fare is politically impossible and the only way the contracts can be abrogated is for the city to take over the two private systems, merge them with its own Independent line. Sporadically, until it seemed an empty catchword, transit unification has come up in New York City politics...
...November election, voters passed an amendment to the constitution allowing the city to exceed its legal debt limit by $315,000,000 to effect transit unity. And by last week, when the city offered $175,000,000 for B. M. T. alone, Chairman Dahl was glad to take it, for depression and competition from the Independent have continuously weakened his position. That leaves the city $140,000,000 in City bonds to dangle before I. R. T., which is likely to bite...
Most exciting event of the afternoon was the breast-stroke in which Roger Willcox prevailed by the narrow margin of one foot. Bill Cann scored a win in the dive with Pete Waring just failing to take a second...
...money was earned. But the Union has neglected Suzie. As yet no demands by the Union or provisions by the University have been made to boost the retirement income of low-wage employees. Suzie's case is therefore far more desperate than Jenny's. Obviously Suzie can not take much more out of her present wages to contribute to the Pension Plan and still keep her financial nose above water. Yet it stands to reason that she should receive something near the $35 income which is guaranteed to waitresses outside educational institutions and who are legally included in the Government...