Publisher's Synopsis
Excerpt from Report on the Chicago Dock Problem: With Special Reference to the Questions of Municipal Ownership and Leasing Policy, 1909
There is little in the experience of other ports to guide Chi cago with reference to the proper terms to be incorporated into a franchise grant, in case it should be decided to promote dock development in first instance on the basis of private ownership. More light may be gained on this subject by an examination of Chicago's own experience with other public utilities, especially the street railways, than is to be secured from a study of ports elsewhere. The main features of Chicago's franchise policy as worked out in the traction settlement ordinances are: (1) The reservation to the city of the right to terminate the grant at any time for purchase by the city or by a licensee corporation; (2) the effort to eliminate speculative profits; (3) full publicity of the affairs of the grantee corporation; (4) controlling participation by the city in the planning and execution of the work of recon struction. Of these four features the first named is the most vital, although all are important and would seem to be applicable to the dock situation. The problem of proper dock develop ments in this community presents many difficulties, complexities and uncertainties, and is closely related to other unsolved prob lems, especially that of proper rearrangement of railroad term inals. An era of reconstruction and of tremendous improvement is believed to be directly ahead for Chicago. Nothing should be done that cannot be made to fit into whatever larger plan may be worked out. No rights should be created that will stand as abar to later unity. If the docks under discussion are to be built and owned by a private corporation, it should be only on condi tion that the owners stand ready to sell at any time to the city or to another licensee corpora-tion, thus making it possible to correlate the docks with other related undertakings, whenever plans for development on a harmonious scale may be worked out.
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