Streetcar Company Rejects City's Terms
The West Street and North End Electric Railway Company refuses a franchise extension, citing 'unreasonable' conditions imposed by the city council.
The story, cleaned up
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The West Street and North End Electric Railway Company has followed the example of the Madison Street Cable Railway Company in refusing the extension of the franchise granted by the city council, citing the many conditions and restrictions inserted in the ordinance in the progress of its passage. John Leary, the president of the company, stated in a letter to the council: 'The sole purpose of this company in applying for an extension of its franchise was to secure the success of very promising negotiations for the sale of its bonds. The progress of the ordinance in the council was so delayed that the financial depression has put an end to our present hope of successful negotiation. Our present franchise has conditions which, in the light of our experience, we find should never have been accepted by us. You have thought fit to impose new and, as we believe, unreasonable conditions. Among the most objectionable of these conditions are sweeping forfeiture clauses, which, if accepted by us, would render our bonds wholly unsaleable.'
“The financial depression has put an end to our present hope of successful negotiation.”
Public-private partnerships and the regulatory conditions placed on infrastructure utilities remain a flashpoint in Seattle. Much like the 1893 transit battle, modern debates over transit expansion often hinge on how much leverage the city has over private operators during economic downturns.
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