OCR Text |
Show MONEy HARD TO RAISE TRACTION CHIEF SAYS SALT LAKE, April 10. That the difficulty or raising money presents a broad problem for the electric railway industry to solve and that capital is required re-quired for extensions and improve-.mcnts, improve-.mcnts, was the testimony yesterdav of S R, Inch, vice president of the Utah Light &. Traction company berore the public utilities commission on petition of the company for an increase in fares to 7 cents, 1 cent transfer charge and 4-cent student tickets. Mr. Inch took issue with the commission on its decision fixing tho valuation of the company's properly on tho basis of prewar pre-war costs. He said all replacements Avould have to be made at present costs many times the original outlay. The present valuation has been adopted adopt-ed by the company as the basis upon which an 8 per cent return is asked. |