New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-04-23
CITY PROBLEMS.
RAPID TRANSIT PROSPECT.
NEGOTIATIONS FOR THE PURCHASE OF THE TIL

NEGOTIATIONS FOR THE PURCHASE OF ThK Third
AVE. RAILRoAD-vIEws OF RAILROAD MEN.
RumOrs have been current for several days
past that the Gilbert Elevated Railway Company were
treating for the purchase OF the Thrdave. Railroad
Companys road including their valuable real estate
and that such purchase could be effected, the Gilbert
Company would then apply for legislation 10 enable
them TO build elevated road above that OF the Third
ave line. In order to ascertain how much
truth there in these re-
porter OF THE TRIBUNE called yesterday those
who are interested, and obtained such information
they were willing to impart The officers OF the New
York. Boston, and Montreal Railway Company, who arc
associated with the Gilbert Elevated Railway Company,
admitted that ne gotiatons in progress for the pu
chase OF the Third-aye. Railroad Companys properly
and night OF way but declined 10 20 into detals The
purchase had not been consummated, and while tho
negotiations were In progress they preferred to say
nothing about II.
President Butler OF the slIth-ave. Railroad, above
whose the Gilbert Company proposes to erect their
road they having received charter for that purpose
said he had heard rumors that efforts were making by
the Gilbert Elevated Railway Company to purchase tho
Thirdave. road. No offer had been made to buy tho
Sixth-ave. Railroad He did not know what would be
the effect the travel his road by having another
road built above IT, IL might have the effect OF alarming
tmid people, He in favor Of rapid transit provided
IL form that would benefit the community and
in spite of tho abuse heaped upon 1t, there
was no better mode of conveyance, considering
its cheapness, than the present street cars.
On his own road six miles in length, they were now
carrying daily $1,000 persons for cents each. For
the Thirdave. Railroad carried passengers eight
miles. in other part OF the world was travel 40
cheap. 1t mistake TO suppose that the railroads
are making large dividends he believed that, without
exception, every road in this city was poorer to-day
than on Nov J. 1872 by OF the heavy SHOWS IL
the worst Winter he had ever seen In New-York
No allowance made for the largely increased e1-
pendure OF the companies While everything else had
more than doubled their fare had remained the same
He thought the public were wrong in treating the
railroad companies as monopohes tba were opposed "
Robert souires, President OF the Thirdave. Railroad
that Oyerturcs for the purchase OF the Thrdaye
road had been mace those interested in the Gilbert
Elevated Railroad. He presumed they wanted II, be-
cause 10 would give them direct communication Wltl
| westchester County aud the New-York Boston and
Montreal Railroad. The ThiTd-aye. Railroad has now
the depOts required by the Elevated Railway Company.
There a large at Harem the main structure AT
slxty.hth.st and smaller at Thirty iourth-st
| The Thrd-ave. Railroad. with its real estate:
rolling stock, aud franchise, Is worth aoout
There coo shares OF stock and on these
per cent dividends paid This stock has market
terest The Board OF Directors, with their
friends, probably hold majority OF the stock Any pee,
son or corporation wishing obtain control OF tue road
would, OF course, have To purchase controlling inter
est IN the stock. Or IN other words more th4n iocc
shares and for these would have 70 be paid Stock
another road would not be accepted as an equyaleh
Their road carrying an average OF lOOOo per
sons daily. The rolling constantly Increasing
The residents OF Harlem very anxious TO obtain
rapid There mad already been several bills intro
duced into the Assembly Tor ms object he d9HD1o
whether any of them would amount to anything Should
those negotiating for the purchase OF the 1hlrI-Ave
Railroad be successful they have to procure legs
auon 10 enable them To transfer therrouie from second
1 10 Ihlrd-aye Tue Gilbert Elevated Railway Com
pany have now the night OF way along second
| ave. or tho two, tue Thirdaye. was the
more desirable. II the Elevated Road be bullt
| above the track Of the Tbird-ave Railroad the
latter Will probably be operated for way travel.
The Elevated Railroad would be used mainly for through
traffic. on tins point however he could not speak with
certainty nothing definite had been determined upon
bill had recently introduced In the Legislature
10 compel the Company send ali its cars 10 Harlem
Cars were now running loss above Sky Dltl-sI