New-York tribune., 1868-04-29

fixed for the completion the larger part OF the road or
the termination Of the grant Mhc ,e pubic n,elesi d
NAV not require that the whoe oi tho PIoPoseu ,oa"
shoIld he constructed within TWO years VIII Dc ADMIT
ted that there should DC some lnli 20 at ,he enerp
snd oaI n, other parties could be enlisted In the event
90 tbS fnTe or refusal OF the grantees to avail them
selves of all the provisions VI 'S '' "'i 'oo "pi0
M NAV not be an objection to the bin that the proposed
road occupies part OF the public drive R9wh as te M
laid ont and embelshed by the Commissioners OF the
Central Park seen however tnat snGh a
nv tLe public authorities or owners Of property upon IT.
and adjacent to it, without the fullest opportunity iop
concurrence OF public and private Interests. >,
Nor too much to say that careful provision shonG
equivalent for privileges so extensive and prospecvey
the expiration OF seven years the grantees shall annually
nav 10 the City of NewIOrk five cent of the net
nnr9dts for the year ending the day OF December
peyous thereto, but it is apparent that the consd' r
on named is dsproporionae to the Value OF TIE grant
IL indeed 1t is wholly delusive The sum mentioned
can hardly regarded OF any practical moment or OF
any certain amount when 1t is understood that there Is
no limit TO the expense 10 be annually incurred the
scretion of the grantees and the net profits can only
arrived at after ali expenses paid and no penalty
is imposed for the neglect or refusal of the grantees TO
execute any requirement whatever
further reason why cannot give my assent to TINS
bill consists in the fact that the proposed grant may as
the character OF an rrevocabe vested rgh "hch
l regard as in violation OF sound public Poncy' Ns Es
pecialy, In the great and rapidly growing city OF New
York il is nat easy TO fOresce what pubhc necessity may
in the future arise TO require some modhGation % Gl
change Of the route proposed or OF SOME Vi ae th
siOns OF the bill what policy III respect to inc
streets hest adapted to tine SCnSe Sense
Instead Of this, as it seems to me, the most vital
reservation authority, the Legislature coniers upon
the parties named and their assigns, perpetual iran
chise absolute and rrepealable. cannot c0ncea IRON
myself the danger of such an unlimited and exclusive
grant, comforting such extensive privileges in city
where business expansion, commercial growth anu
almost marvellous enterprise are the daily experience
and, under the changing conditions that are laDie 10
result therefrom such grant may become highS III
II will be seen that provisions of the bill throughout
confer upon the grantees very large powers IN respect 10
entering and acquiring property and the restrlc
tons very few and feeble. IN the second section
supervisory authority only Is conceded To the Common
Council regards the frequency Of running the cars but
with this exception there Is no restriction nor super
vision whatever while the fourth sec'icn perpeuay en-
ioln the Corporation Of the City of from giving
any assent TO allowing any other company TO construct
any railroad upon the streets avenues and roads named
from doing any other act TO hinder obstruct the
construction operation OF the said railroad herein
authorized"
have thus briefly stated the which control me
in refusing my assent TO this bill regret the necessity
for differing with the Legislature, yet must believe
that upon further consideration the objections have
made will he deemed 10 outweigh the advantages 10 re
suit from the proposed enactment. Il. j. fENToN.