The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-06
RAPID TRANSIT AGAIN.
What MIR. A. II. stewart Will Not DO
and What He Will DO-rhe Beach
Pneumatic Raiivay-What Is the Rest
system of Rnpid Transit!

System of Rapid Transit!
'Rapid transit again comes forward but this
time in very mysterious way. The resolution of
the Senate, concurred in by the Legislature, re-
questng Governor Dix to return the Beach Pneu-
matte Railway Bill, which provided for long tube,
through which TO shoot passengers the entire
length OF Broadway, called out various comment
from yesterdays papers, 1t was asserted that Mr..
A. r. Stewart was prepared to buy the charter OF
this company and pay 100000 for the privilege it
might guarantee.
HERALD representative called at Mr. Stewards
down town store, but the eminent merchant was
not there. having been confined to his house by a
severe Illness for some time past. In his alb
sence Judge Hilton, his legal adviser, kindly
explained Mr.. Stewards position concerning all
the railways projected for Manhattan Island.
He said, 'Mr. stewart has never proposed to
demonstrate the impracticabiity Of any railway
scheme by buying the franchise upon which it is
proposed TO put II in operation. Such scheme is
the Beach Pneumatic Railway. He is opposed to
any railway on Broadway OF whatever nature, and
would never embark any capital on "boresn under
ground or "man traps overhead. The nature OF
his proposition is this while he believes that
surface railway would be greatly Injurious to the
property holders along the line OF Broadway, still
If the Legislature IL prepared to pass bill Tor a.
surface railway he VIII pay 5000 600 lor the char
in they themselves should not choose to place
capital in the enterprise. such road would yield
large profits. Ii could be butt for SAC, 600 mile,
exclusive OF the stables; and compute that the
entire road, including all stock. could be put into
operation Tor less than ST. 100000 Thus you the
profits would be enormous, but the effects would
be deeteriOus to the general welfare OF the
city. Broadway would be given up to the exclu-
sive use OF the company; and IL is probable
that there would be a perpetual blockade
OF the thoroughiare from morning TO evening.
The heavy trucks, which can move along no
other street at the present moment, would find
their only avenue of travel closed to them. Every
body knows that other systems than surface rail
WAYS, or the viaduct system of going the tops
OF the houses, as in London, are not practical. |
computed that there are 200 600 people who travel
on Broadway every dav, and the number Is an
nualy increasing at the rate OF twenty-five per
cent Furthermore this amount of travel would pay
$500, 00prot There Is scarcely railroad in
the city whose debt would not pay the building ex-
penses OF the road-that is TO say, all the capital
stock costs nothing. 30 when YOU hear OF divi-
dend OF six per cent it looks small but this six per
cent Is dividend paid 10 a stakeholder who has
no real money invested.
.Then Mr. Stewart does not intend to buy the
Beach Pneumatic Railway charter If it become
law"
Certainly not. That company has already spent
great deal OF money, and, in addition to the
S2.0O0,oo0, they want to be reimbursed Tor their
losses. As told you before, Mr. stewart does not
intend TO try the experiment OF demonstrating
an lmpracticability. Every property owner
Broadway is interested in this matter ANY
attempt TO undermine the thoroughfare would
epdanger every building along the route. To
man VINO Is responsible for these damages II would
involve an enormous sum to pay the losses.n
"What plan of rapid transit do YOU favor, then"'
"Ihe system above the blocks is the only one, as
in London. | understand Commodore Vanderbilt
has decided not to go with his underground
railroad because OF Its enormous cost-somc thing
like twenty millions OF dollars, although he has the
charter You VIII remember that | obtained q
charter TO build yiaduct railway and the city
was to loan s5,oooOoO TO the enterprise, which, to-
gether with sl,000,000 subscribed by MIR. Stewart,
Mr.. Belmont, Mr.. Aston anu Others. would have
completed one branch OF the road; but the
sudden change in political parties, together
with other influences, has nterfered with
carving out the project The Beach railway
would interfere with the entire sewerage OF the
city, and also with the operation OF the water
works, and would involve loss OF millions of dol
lars to the city, reported 10y Mr.. Tracy ocialy.'
suppose that the Pneumatic bin passes and be.
comes a law ~
Then we will see what Mr.. Stewart will do about
It,"
"Can you enjon the owners OF the charter9 ~
''lhe Courts Will PROBABLY have something TO say
abOut