The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-09-14

1t was "ring" measure to subscribe en- behalf
Of the city 100000 to the capital stock Of the
East River Bridge Company. Brooklyn as a cor
poration confident Of securing great advantages by
the closer connection with New York, to be made
by an iron link over the river had subscribed
double that sum, and few individuals, mostly
citizens Of that city, had taken $500 ooO making
the total OF stock subscriptions S5o00,o 600. BY the
original estimates this sum was expected 10 build
the bridge, but since these figures were made
there has been large increase In the cost OF all
kinds OF materials and all classes of labor Add to
this that when the excavations were made for tower
foundations 1t was found necessary to 20 far
deeper than had been anticipated. Therefore the
S. 600 900 which to build the bridge has mostly
been expended before the towers are completed,
and Will, probably be entirely exhausted before a
blow is struck upon the bridge structure, aside
from the construction OF the two toweEs and the
preparations for the anchorage on the Brooklyn
side.
PRESENT CONDITION OF THE WORK.
To-day the New York tower stands 116 feet above
highwater mark. Two courses OF stone more, or
four feet in height, will complete 1t to the level
Of the roadway bed. On the Brooklyn side the
small towers above the roadway bed have nearly
reached the springing line of the arches, which is
to be 2Oo feet above highwater level. For the
Brooklyn anchorage an excavation has been COM
cubic yards Of material were removed. founda-
ton Of yellow pine timber has been laid
at the bottom OF this pit, and the laying
OF the masonry thereon will be rapidly
pushed. At the rate OF progress thus far
made 1t Is apparent that another season viii be
than the completion of the towers upon which this
bridge Is to rest-an iron link 10 feet above the
rm When Il is ready for
transit OF cars It will probably have cost fully
$40, 100000.
Since June the Bridge Company has been dun:
ming our City Fathers for the ninth ten per cent
that time the city had paid eight instalments or
Sl5O,OoO each, making sl,2oo,OOO. Brooklyn had
vanced By her in her corporate capacity, and tho
individual subscribers had paid their nine install
Tammany N.Y. Ring, BOSS Tweed, :" brains sweeny"
and ''Sippery Dick" Connolly. There was some de-
muir on the parts OF some members OF the re-
form city management against the further pay
ment by the city on this subscription for stock
which not even the most ssnguns can me expect pc TO-
came up for consideration at the meeting OF the
Board OF Audit last Monday Mayor Havemeyer
should be az sacred as that of private individual:
If he had agreed TO- take certain stock, he would
even though at an evident loss. For himself had
he been in the Mayoralty. he would not have ad-
The work Would be a convenience for Teaching
Brooklyn from the vicinity OF the City Hall but Tor
would still be the most handy means to cross the
river at any one OF half dozen points. Brooklyn
has furnished two dollars 10 our one, v ana
ment New York Is obligated to pay the million and
q hall, and iour-fiths OF 1t being already paid ne
saw nothing else for 1t but to pay the ninth install
ment and he ready with the tenth wnen 1t
should be called for. Ais counsel prevailed and the
issue OF city bonds to meet the subscription was
HAS THE MONEY BEEN CAREFULLY usED'
yesterday N Mayor aavemcyeT said he had looked
into the bridge accounts, In company with its new
Sad and No evidence
| appeared TO show that there had been any corrup-
| work done economically as 1t could be at
present values OF labor and material While ne DID
not thx d was vas p pohcy a 70 aX s
| in the end be found benefit TO certain localities
this side and general s advantage to brooSyn
this subject, told the HERALD man that the ninth
instalment has not yet been actually paid by the
city to the Bridge Company, though 1t has been
called Tor since June. The Board OF Audit had
passed the requisite order, but as the city issues
the payment has not yet been completed. He said
all the individual subscriptions are paid except
those Of Sweeny, Tweed ana Connolly, and as they
have property within the reach oil law he had no
doubt the Bridge Company will compel them to
pay.
Mr. Storrs rs, looked forward to the time when
ne Be atty
venence, proper burden upon the people Of
the two portions OF the one great consol-
dated municipality, like our streets and
public buildings, and not expected to pay money
dividends to reimburse the cost OF erection. We
must look for its equivalent in the enhanced value
OF property IN the two cities OF the present-the
one grand metropolis of the future.
When asked whether he considered the money
laid out by the Bridge Company honestly spent, he
SAID that ne had examined the recently published
report and except as to the salary paid to
the superintendent, which has been pretty fully
ventilated in the newspapers, he thought all its
operations have been conducted prudently and
with strict economy. He was convinced that par
ties originally concerned in the preliminary egis-
lation intended to work the enterprise for their
private emolument; but the storm OF reform came
too soon for their calculations and nipped their