The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-02-16

20 this enterprise and because they believed II was only
By this city taking part In It that could reasonably
expect that which 10 deserves, aud within =
reasonable tme This they did with the arm
conviction tina. the bridge, butt, will Be
OF untold value tho interests or Brooklyn, en~
HANGING ITS means OF enterprise and the valuq
o. taxable property IL was not merely a. means o.
others IL the necessary Tor its nued prosperity
and Increase. 10 the estimate costSs 600 0ooare Id.
GUIDED tue entire cost OF the bridge from Sands street,
BrooSiyn, to lily Ran Park, New York.
Mr. KossLiNG. engineer Of the work. here statsd that
his entire esinas for tho bridge not including the
real estate between $4,000 90 aud ST. 600 000 aud
that the estimate OF tha zeal saaals would bring up
20 about s. co0, 600.
Mr. MUapaf Contained HE remarks stating that . low
estimate OF the and damages winch had bean made
showed the value OF the land and buildings betwse1
one and half and and ~ hon doarss
making the whole amount about eight millions He
then alluded to the great experiences brought bear BY
the sngiaoer In making thess estimates, whose fami~
arity with .hs cost OF labor and material were In h
opinion unsurpassed Looking to decline in the prizes
OF labor and material, 1t was highly probable that the
than tho present estimate Az they asked Of
amount q $500 900; or little OF the
whole cost the interest OF which, should ran on the
taxable property OF the city 70 pay would DO put one
mill and q half per cent the dollar This, a. seven
per cent interest," would amount TO the sun OF xIloooo
year. Thus an increase OF the taxsble properly q
rate OF taxation, would give f210, 600. Mr. MURPHY
dwet ~ considerable length upon the great dement's
OF intercommunibaton between New YORK and Brook.
lyn by The completion OF the proposed bridge aaa
which no Legislature would for moment,
ana Is ono which would impede navigation OF the
East river most injurious extent III this subsidy oc
"a 600 600 should be granted the company by Inc city
Of Brooklyn, they propose to raise million dollars
by private subscription and the other four millions on
Mr. HKNsEssEY then made some remarks In favor OF
the viows SGT forth BY Mr. Murphy and expressed me
DO enhanced fifty per cent by the completion Of the
East bridge
CITIZEN remarked that should the city government
decide to tho 1000 600 asked IL would but add to
already heavy burdens Of taxation which oppressed
the poor man. who derived benefits from the
value OF real estate The city owed sl2 200 600.
and the question comes up are we improving we
sinking the city by the constant issuing Of bonds OF
Indebtedness for these now improvements which tho
Legislature ara fosng upon the people. Here We have
| carriage Monday, though the poor man 70 not
allowed to skate there on Sunday, his only holiday
Applause Let the bridge BIO built by stock he would
sanction bearing down the city with further bonda
Mr.. RoEBLING explained 10 tho meeting, from num-
Der OF drawings which were displayed. the proposed
plan drawn by him, and stated that 1t would take about
Ave years complete tho work from the time OF its
commencement With regard TO the boring for a SOLID
foundation, he said that Brooklyn SIDE was quite safe,
in an engineering point OF view the other side
tho work will DO quite difficult and expensive, owing 70
the nature Of the soil. N.M
! Mr.. RODNEY CHURCH then spoke at much length,
asserting that tho original act Incorporating the New
York Bridge Company authorize the company 70 raise
4 five million dollars, and now they ask for seven or
eight millions of dollars carry the work to sue
cessu ISSUE As the company was. from It's very ttie
| a New York company, why to this city to borrow
$4,000 the stockholders TO receive, according
to the act 33 CENT OF tho cost OF the work There
Is not more than ghth o lhs population of Brook
! Ign who property holders, and therefore the
| remaining seven.eignths OF the people Will have to
bear Inc brun ana burden OF the pernicous effect OF
this great This latter proportion cannot be Dene-
fitted by The sale these bonds II issued. He would
| ASK the gentlemen composing tho Bridge Company u
they would guarantee against losscs for tho amount
sought loan must be- according to the provisions
oil the act for period OF thirty years, during which
period the TO be paid on the city bonds would
amount to SIX aud half millions OF dollars, which.
added to tho principaL would swell the sum to about
| ten million dollars.
| some further remarks pro aud made by Mr..
VIM G. Dewitt and other citizens IL Deiiig then TOUR
1 O'Clock the meeting adjourned.