New-York tribune., 1868-02-17
THE EAST RIVER BRIDGE.

An interesting meeting was held on Saturday
in the Common Council Chamber of the City Hail. Brook
lyn TO devise means whereby to further the projected
bridge between New-York and Brooklyn Beside the
directors and officers Of the Company there were num-
ber OF prominent citizens who took part in the meeting
nj the solicitation OF the Special Committee or the Board
of Aldermen Alderman Whitney, Chairman Of the Com
mttee called the meeting to order He briefly stated its
object which was 10 inquire into the advisaby OF issuing
bonds to the amount Of 100000 enable the East River
Bridge Company to begin the proposed work Ihere was
part. Mr. j. W. Dow did not deem the proposed suspen
sion bridge practical A plan that he exhibited 10 the
COMMITTEE he believed would prove more durable ana ma
thoroughly answer the want Of the community he
desired to know whether the SS0000 estimated as the
cost Of the proposed bridge would include all outlay ne
cessary for the entire completion OF the work Mr. Henry
c. Murphy remarked at some length on the great ad
vantages TO be derived by Brooklyn on the completion OF
iyn Bridge Company presented themselves before
the Committee because by the act OF incorporation
the City OF Brooklyn authorized to lend lts ad
this enterprise and because they believed it was only
by this city taking part In 1t that II co9la
sOnable time. II was not merely as means OF invest
ment Of capital but the thing which, OF oil Others
In the estimated cost sOoOOOO are included the
entire cost OF the bridge from sandsst, Br00kyn, 10
the great experience brought TO bear by the
engineer in making these estimates, whose famil
opinion unsurpassed All they asked OF the City OF Brook
lyn was subscribe the amount OF s3OooOo0 little
more than Onethrd OF the whole COST the interest of
which, should IL fall the taxable property OF the city
10 pay would be but mill and half per cent the
dollar This. at per cent interest," would amount 70 the
sum OF $4,000 year. Thus, increase OF the taxable
property OF this city to the amount OF VOO at Ine
present rate Of taxation, would give S2lO,OO. MT
Murphy opposed the plan OF Nh. Dow az measure
which no sane Legislature would entertain for moment
and as one which wound impede navigation OF the East
River 10 a most injurious extent IL this subsidy OF 5000
600 should granted the company by the City OF Brook
lyn they propose TO raise sOOOOO by private snoscrp
tons and the other 900 bonds The engineer OF
the work Mr. Roebng stated that the entire estimate
for the bridge not including the real estate, was between
5000 900 g. 0O0 He believed the work could be
completed In five years from the time OF It's commence
ment His plans and specifications were exhibited show
ing the construction OF the bridge With regard 10 the
boring for solid foundation he said that Brooklyn side
was quite safe, II engineering point OF Vlewi
hut ON the other eide the work viii be quite
dcut and expensive, owing to the nature OF the SOIL
Mr.. Henuessy Endorsed the views Of Mr. Murphy, and
Brooklyn would be considerably enhanced by the com,
pleton OF the bridge Mr. Rodney Church ana several
other speakers very much opposed TO the issuing OF
any more bonds for new enterprises: MI CHuIen re re
Bridge Company authorized the company TO raise f5OO
OOO and they ask for sOO0OOO or 100000 10 carry
out the work TO successful issue Not more than one
eighth OF the population OF Brooklyn are properly
holders, and therefore the remaining sevenelghths
OF the people will have to bear the brunt ana
burden OF the pernicious effect OF THIS great
tax This latter proportion cannot De Deue
flied by the sale OF these bonds, II issued one speaker
remarked that should the City Government decide TO
loan the s. 100000 asked it would but add to the already
heavy burdens OF taxation which oppressed the poor
man who derived benefits from the rise in value OF
real estate. The city owed S2OOOOO ana the ques
tion up we improving or are we sinking the
city by the constant Issuing OF bonds OF ndeDednes ir
these new improvements which the Legislature are folst
ing upon the people Here we have our Prospect PARK
where the rich ride IN his carnage on Monday,
though the poor man not allowed to skate there on sun
built by stock would sanction bearing down the
city With further bonds