New-York tribune., 1872-12-31
vANDERBILT'S RIVALS.
, NEv.NCUTNrE OF RAPID TRANSIT.

y
cory OF An ACT TO CREATE > NEW COMMITS
SION TO BUILD A RAP;D TRANSIT ROAD TO
CHARGE ONLY FIVE CENTs FARE To CEA-
TRAL PARR, AND SEWN CENTS TO liARLhN
A sTUPENDOUs sCUEME
THE TRIBUNE of last Wednesday contained
an exclusive report OF thu decision OF tho Commissioners
appointed TO select the route for the Gilbert Elevated
Railway. This is the yue which was Familiarity known
IN the Legislature, ollie the bill pending there as
fSe g Ad Interim Dad" the declaration having been
made before the = ommittee, by DR. Gilbert the pro
ector, that be CO nd build his line ia tao interim oc
tween the passs ge Vanderbifs charter and the seo
ton Of the rou 20 by his engineers Two days after IHS
TRIBUNE puf lcaton The World, in furthcrance OF the
desir0 lie object good enough u copy Us and
yesterday, Tho Times embodied the facts which II iound
In TIE Tc BUNE au original editorial calculated TO en-
courage andeThtS rival Of The Gilbert Elevator me-
Bat an other formidah rival has appeared In the he
OF wl soon as tho Legislature meets; and aidtonai
promise win be Evon Of rapid transit road OF some
sor Tas plan, % be submitted 90 an carly day on the
session. prOpOsestO remove the slDoct from the conro
Of Individuals private corporations ana maze u tue
province Of the city to buld road The impression
having been eaed by the delays in beginning WORK on
the Yanderb 1t road that the enterprise has been
abandoned or was never seriously contemplated
number of comment citizens met, short time ago. 10
consider th plan OF rapid transit which would DC most
Eke If o msdcred favOrably by the legislature TO go
into opera ton without delay It was thought that the
sutect 81 oud be given into the hands Of the authorities,
70 deal fh Just the CrotOu Aqueduct and other pub
lie enter prses. Mr. L. Church accordingly drew up
ball. len VIII DC presented to the Legislature for Its
cOnsld ration
II foviles for the appointment OF Commissioners
Who than select Eve engineers OF undoubted ability
who ha mako estimates OF the cost OF building road
and Ieede upon the plan of road elevated vad1et OF
und srround It is proposed charge five cents TO the
Gen Gra Park aud seven cents % Harlem The cost OF
bulIslng "A road is estimated at S2O0Oo0oo The fol-
gures are furnished show the advantages Of
uhs plan:
fhNQO0O OF bonds at per cent N4O0ooO
~ 600 passengers at cents is $4,000 per day, 80 ~
II Only onc-haIf the above number OF persons
the road the income is stlil-.-...--- t'SVSUOV
Or profit osSVVVVV
In this calculation the freight and mail service are
supposed 10 pay the running expenses.
PROFIT.
At the it urged that the road will pay
for Itself years Tle value of the property is
claimed viii be greatly enhanced that 1t will be
economy for the city build the road 1t is stated that
ZOO vacant lots have tax value OF $780, or
s2I0OolOO9 in all, yielding taxes at p per cent, and
adding S5,25oOoO yearly to City Treasury. 1t is
claimed that the road will double the value OF these lots
thereby increasing the taxes S525OOOO and become
trebled by buildings and improvements on these lots
yielding the present taxes Of $2625OOO
20 the city This increase 1t is urged will take plac
within five years 1t Is urged again that two hours
day Will be saved to 10000 persons, which, valued at
cents hour, amounts to $4,000 day. or 100000
year.
sti further urged that the difference in the fare
OF the Vanderbilt and other private roads and the pro
posed will the taxpayers large amounts
The following table illustrates the saving: