The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-04-10
THE EAST RIVER BRIDGE
Tho Rink Reform Committee Overhauling the
Accounts-Interesting Statistics-Brooklyn
Has No Voice in the Management
The Work to Cost $15,00O,000.


time past in overhaung the accounts OF the East
River Bridge company, IN order TO discover If
there was not a little leak somewhere in which the
citizens of Brooklyn might be interested.
THEY FIND,
they say, that the New York Bridge Company is
private corporation organized under a special act,
and Is neither a commission nor q department OF
the city government, and, therefore, the Committee
Of Fifty has nothing TO with the investigation of
tts affairs further than interests OF the city are
involved as The principal stockholders.
BRooKLYN's INTEREST.
By resolution OF the Common Council OF Brook
Hn, which took effect January o, 1869 THE Mayor
retaining 1t ten days neither approving nor disap.
provngI, Brooklyn was authorized 10 take $3,000,0o0
oil the stock, provided the remaining 81. 900
should be subscribed for and ten per cent thereof
paid IN cash, and provided the charter be 80
amended .that the interest of the city be repre-
sented the Board OF Directors by. the three CON-
missioners OF the Sinking Fund" But the city
could not De fully Represented" unless It's officials
composed three-hfths OF the entire board.
BROOKLYN HAS NO CONTROLLING VOICE IN TIE
MANAGEMENT OF THE COMPANY,
though owning six-tenths OF the stock, while pri-
vate parties owning but one-tentn of the stock send
hfteen members to the BOARD which never con-
tain more than twenty-one members. This Is a
gross outrage perpetrared upon Brooklyn as well as
upon New York. by the Tweeds, Sweenys ana Con.
nolIys on both sides OF the river, and immediate
legislation Is needed TO give the stockholders u
voice In the management OF the company in pro-
portion TO the stock ned by each; and especially IS
Inns due 70 brookyn, as she WIN have to carry on
~ TO oe done thereafter. because.
Fwst-It Is very doubtful whether New York will
subscribe Tor any more stock. II the two cities
consolidated 1t might after the case. Brooklyn
comes 10 New York-New York never goes To
Second-Because private individuals will also be
backward In subscribing. Some OF the present IN.
dividua Stockholders nave expressed TO your SUBJ
committee desire to dispose OF their stock anu
tire from the company.
THE PROSPECT IS NOT ENCOURAGING
70 private SPECTATORS Placing the cost OF the
bridge al sl6,ooo,ooo (Which Is moderate estimate.
your subcommittee advisedl over forty tnou-
sand persons Will have to Cross and recross daily,
paying five cents each way TO warrant dividend
patronage to meet the expenses Of The bridge.
stationary stationary engines, wear anu tear OF cars,
cross and recross daily the the ive ferries '' be-
longing to the Union Ferry Company some
Cents, according to the hours e Of Crossing. very
small proportion OF this 900 VIII lind IL
70 Gloss Inc proge unless thus law Is changed SO as
YORK side, ana then 1t would become very serious
10 bs amy h ar ep
Yet me bridge would be great benefit TO Brooklyn;
~ boefyn b must eua IL eI u DC so %
lar above referred 10.
CAPITAL STOCK.
Brooklyn holds 49, 900, 900 anu the city OF New
York 81, 500, 900. The remaining 100000 seems TO
have been apportloned according to some rule OF
favor between ciilzens OF New York and BROOKLYN,
tie proportion OF Lwo-thirds TO Brooklyn one
thlrd 10 New York the same relative proportions
held by the two clties) as follOws:-Wliliam N.
Tweed, Peter b. Sweeny Hugh Smith and Richard
b. Connolly, all OF New York, took APO shares apiece
York; The remaining two-thirds Is held by citizens
OF brooklyn, as fonows:-Klngsey Keeney $50
Hustled, 500 shares each; Henry Z. Murphy,
Isaac Van Anden. Alexander McCue. Henry w.
Wnnam Marshall, Samuel Mclean, John II. Prem
uce, William Hunter Jr. and Jonn ". Lewis so
shares each; Charles 9. Martin and Arthur W. Ben
ON the subscription for the capital stock payment
has been demanded on SIX Instruments OIL ten per
cent each.
OF TINS amount there has been received as FOL.
lOWs:-
From city Of New York ............. $4,000
From private Stockholders. 2644Cc
Total received capital stock. l4,4uu
BROOKLYN HAS RESPONDED IN FULL
while there remains due on these calls from the
city Of New York $780, 900, Though that city claims
q set or as your subcommittee are informed ars-
and from wIliiam ~. Tweed, Peter d. Sweeny,
Richard B. Connolly, Hugh smith and other private
Payment OF this amount due from New York has
been delayed by an injunction. OI the amount un-
paid on private subscriptions $4,000 is due from
subscribers residing in Brooklyn (Messrs. Hunter X
McLean> and $500 from the New York suDscrl-
bers.
According to the books Of the company It's total
receipts down 10 December J. 1871, from all sources
were as follows:-
TO Wharfage a, bier ~ New YORK 2ss6
70 rent from William II. Marson. .......... 2275 90
To material sold 2,2l3 02
Total. 2,549,sI2 IA
THE EXPENDITURES
70 December j, 1871, were as foows:-
ENGINEERING.
Board q Consulting Engineers, salaries OF engi-
neers and assistants, original SURVEYS. boring,
.&l
Chief Engineer a " Eoeel,ns per annum $1,000
Asssant Engineer G C Martin. per an. '"O
Assistant Engineer " H. Paine, per an ''0'
Assistant Engineer f. ccnswood, per 'VO'
Assistant Engineer q W. acSa,y per ''
: '''eS' orfioF ExrnSsn t'''''''' 1850 .
Salaries, books, stationery and incidental er-
pe"'''' I h22o "
For cassons ocks sheds &C. say feet "a
Building two calssons. ron eemen,' lime, bricss
gravel sand powder, candles steam, gas and
waisf pipes gas rubber goods payments to W.
ooSTiSGfsr IxrrNsrs 800 '1''0'' .
Legal fees travelling expenses, medical attend.
ance' funeral expenses dc................ s,l6a IS
Machinery icsss 3
: advertising la asS5 3
............... $40 %
2Is 50
Ifor. 2O,937 ~
wagons anu 1852 10
SO30il
812 T6
,u Liit 300 SS
Sand, land, damages and buildings ....... g5ssS Is
70
Considerable material remains unused. bu, pala for
In ADDITION TO which the company VIII slill have
machinery and tools on hand which cost about
100000.
OF THE LAND DAMAGES
the principal amounts are the awards TO the
Union ferry COMPANY 3e5 %
me rev ioIk ana brooklyn Ferry Company..... S,5UO
Moses ray cr anu obers 50,5l7
wIlsm ~ $4,000 %
j. L. Brown, street Cleaning contractor, on lease OF
pier 70 East River, New NEUTRALITY-SUSPICIOUS.. $4,000
The committee, In conclusion, recommended that
the law be changed, reducing the number OF direc
tors 10 ten, SIX OF whom 10 represent BROOKLYN IN
the Board OF Direction; also that the third section