The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-29


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sn who are thus deeply an
fraud %Ssa ~.a'? would certainly
deny ssiemen as own did not sum:
LLAMA possible tune sons win
greatly BENEFITED y transit determined about the es,
from the Legislature charter which, unlike anyye' granted
FINANCIALLY AND ENaIsErRIseLY PRACTICABLE.
Upon looking into the whole subject carefully and as bus
s
s xS
be a. for ana any los. 0 o time wA .
reaSe and full surveys maps and other preliminary WORK.
Saa the
tai to build any road be sought So lar know not
e. Y ss1s
Gss
based solely sound cuisines. j, ,S which
'ssa s1
but 70 the a. Of our s0oS faith and
perfect responsibility to the amount Of two three
sonal upon the obtaining the right
der ss Ssy ra sa we sns H.
held any s this sum may sy be sssy
The signer Of this paper are all known TO us They
who do nes a % such az they ar.
charged with. Inc form OF the subscrptiOn promise
obtained This torn advised BY counsel e making
yAd legal engsgemen on the part of each sgner and
S1S s SEi9 no
as we sss 1s By
Of a.o sSs nat e:
made up Of gronawav " ucs and npsa
ss 's G Gy.. ' gentlemen s'a":s
for long time earnest for their own Of
WIN q En s,,.T
sss H. % s: .Ssas
q m. ri; s,sss %S sy Of r ss% il
% nss has To
with reference to those names Of subscribers and
Hawkins said they looked very well on paper; but
1t should be borne In mind that great names were
often only
wHIpPERs-IN FOR LESSER CAPITALISTS
from whom In the end money was really obtained:
general discussion then ensued as TO inc merits OF
Pneumatic and the Central UndergrOund-durin
winch became clearly evident tina; the Central I'm
derground had by far the larger number OF adherents
IN the House. MIR. Vedder undertook to champion
the cause OF the Beach Pneumatic people, and he
said the TACT that they had bored BOO feet through
suiclent to show that il they only had the
franchise they would complete the road: 1t was
| the central Underground Company had incurred
debt OF 100000 already without having done
as much as dig single shovel fun OF earth.
The question was asked. II the Beach Pneumatic
800 yards OF road, how much would they require to
complete the line TO the end OF the indl-
ia'ed me shane rhe p noh 'e thus wss put
II the Central Underground has spent $50. 900
without dong any work at all, how much would
they want To commence and complete the work
Botn these propositions were conundrums
which a. the friends ,, Of the , respect ct
course OF the running debate which followed
MIR. Moseev gave as one reason why he was In favor
OF the Beach Pneumatic instead or the Central In
foreground. that it had already passed the senate,
ana II 1t were now adopted by the lower house it
soon te settled finally one wav or the other; while
II the Assembly adopted the Central Underground
bill 1t would have 70 go TO wna from all the indca
lions was
The question was then taken upon the motion to
strike out the whole OF the first section ana 1t
lost bv a large majority. motion OF MI. Flammer,
to strike out the clause providing for a
the North River, was also lost; but an amend.
ment which had been suggested by Mr..
section having been adopted. Mr.. Jacobs offered an
the 70 work the Of snoud be-
done under the SUPERVISION of Alfred
W. Craven ana George s. Green, in connection with
ment in New York, and that these engineers
should see that suitable materials were used
|
damage to the buildings, water pipes or sewers;
| their Compensation for the same not to exceed $40
| per day. This amendment was adopted without
debate and so also was the second section as then
! amended, When the third section was read, provide
ing that So, 00D,O U0 should be subscribed and ten
per cent OF that sum paid in within sixty days;
and also for the time allotted to commence and COM
the ROAD Mr M1seey to sr6e
OH the ground that ten per cent on $5,00o,0O0
which would give ., only IN, haif million, was
commenced and prosecuted IN good faith. lie sub:
seQuenIy put his views on this point In the form OF
$40 OOO 900 instead Of $25, 0OO 900: but afterwards
altered this and made the amount $40, 900 900. with
twenty per cent to be PAID IN within SIX months
and before the company commenced the work. and
five millions more to be subscribed each year for
capital stock. Mr.. Alberger thought this was only
AN ATTEMPT TO sTRANGLE THE SCHEME
in the House. but Mr.. Alvord Instantly dIsclaimed
insure the building Of tine road, and he was
informed, as the judgment OF competeht
less than TWO millions and a half per mile. II this
larger sum were not required TO be paid In
might Keep the franchise dangling between
heaven and earth, and no rapid transit
ana be The ssSs Mr. to s Of ta
tended mat SI5,OOO,OoO would be amply suffcient,
ana upon his motion the sum OF $5.OoO,oO0
lett as II is In the bill and then the remainder
OF Mr.. Alvord's amendment, merely requiring
twenty per cent to be paid IN within SIX months
and siO,oOo.OoO more to oe subscribed WITHIN two
years was adopted. The question OF The Time to
be allowed In which to complete the road
years instead OF four was lost by q vote OF
Al to AS The third section as amended
was adopted. the fourth section provides that IN
case the lOwness OF the surface OF the ground at
near Mannatianvile snail render the construction
OF tunnels undesirable, the company may construct
the railroad upon
AN ELEVATED ROAD BED
at that place. Mr.. Moseey wanted 10 know what
sort Of an underground railroad this was to be-
whether 1t really underground railroad at all
or combination or some OF the several Underground
and elevated schemes that mad been proposed.
Mr.. Hustled explained that the ground was
hundred feet lower at that point and To run through
tunnels would require part OF the ROAD TO be built
one hundred feet below The surface, which could
not be done.
the hour was now so late that the further dis
cussiOn was suspended. and the committee rose
and reported progress and asked leave TO SIT again.
Mr. uusied immediately moved mat this reaueSL