The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-03-05
The Aldermanic Committees
TWO Reports.
A MOOTED QUESTION
Shall Road Be Built by Private Enter
prise or BY the City:
THE MAJORITY FAVOR THE FORMER

their reports 10 the Board OF Aldermen yesterday.
The majority report was made by Mr.. Billings and
the minority report by Mr. Purroy, the chairman
OF the committee. The following Is
THE MAJORITY REPORT
Your committee report that the subject re-
ceived as It's Importance merits, the most arrest
and careful consideration. Your committee as
sumo that the necessity Tor more ready communi
between the several s Of tine city
extremes OF the island Will be generally conceded
and the people are SO neariv OF one mnd on that
the proposition would be simply supererogatorv,
and they nave regarded the necessity
It in operation as ioregone conclusion.
they have, therefore. carried on their investiga-
lions exclusively with Q view OF recommending
cal means OF securing tho desired END. 1t Is to be
regre ted that this. the most vital OF the many
considerations entering into the subject such
diversity OF opinion should exist as well IN the
who have given ne subject much though, and
scientific men, whose business 1t is 20 lead and
capable OF judging OF the merits or dement's OF
any particular method OF accomplishing the pur.
ing consummated. A careful survey OF the whole
subject has resulted in bringing your committee
to the following
Frst-That, although many OF our citizens may
policy
rapid transit.
ments adopted by the people Of this State at the
late election and which went into effect on the
|
may he so amended or new law may be enacted
that Will enable such method OF transit to be
Thtrd-That such legislation may be had as Will
enable the city authorities TO complete and own
Fourth-lt is a question II the city authorities
| do not already possess the power to build such
to authorize the issue OF inc ms or stock necss.
sary to realize the money; but, TO prevent any
legal question arising hereafter, full legislative
Flt1h-That there is great diversity of opinion
as to whether the railroad should be butt by the
Those who advocate the construction of the
work and Its control and management BY the city
will never succeed In completing and equpping
built oy the The ri viii be- atenaa
with extravaganza, If not fraud; that 1t Will In
payers and viii add greatly to the deot
OF the city without atrording any equivalent for
all the Iacts submitted to them and from personal
observation. are inclined to coincide with TIE
evincing too great tlmidity being willing to In.
vest only upon certainty OF good and rapid re.
turn upon their investments. Nevertheless
believe that they should be afforded the oppor-
tunltv OF subscribing sufficient TO lnaugurate and
should most assureJly be given the preference IN
all works OF this character, ana an opportunity
advantage Of investing in an undertaking that is
10 such popular demand as to be morally certain
however the proverbiai timdty OF private cap
taists ters them in this instance from investing
In an ENTERPRISE mat promises promises SO We'll men me
the work and prosecute 1t TO completion with
out moments unnecessary delay. with
earliest practlcaole time the desired means
oil more rapid communication with the different
sections OF the city, particularly between It's ex-
treme northern and southern limits, your commit
tee have prepared the ACCOMPANYING act, EN-.
braclug in Its provisions the Views contained in
the report. The act IS SO worded as to provide
for giving private capitalists the first opportunity
to secure the right to construct and operate the
proposed road, with certain restrictions which
your committee believe TO be wise and judiclous,
and Intended as safeguards IN the interest OF the
necessary means by private enterprise within
Commissioners or the removal Of any legal re.
stralnt that may be IMPOSED upon them or the
to have the road constructed, owned and operated
by the city. Your committee therefore offer for
| your adoption the following resolution
Resolved. That the Common Council do hereby ap.
in 'as y to nd HIS s
Mayor hereby requested to transmit the same, with
n 81 the py aSs a M -,
city OF New York to the Legislature of the siate pray
HENRY E. ROWLAND.
WILLIAM L. COLE.
THE ACT.
The act referred to in the above report provides
that tne Mayor shall appoint, with the consent Of
the Board Of Aldermen, three Commissioners, to
be appointed for one, TWO and three years respect
ively-the Mayor 10 act as a member OF the Board
OF Commissioners-who shall have the power to
designate the route OF the road. They are to
acquire the right OF way under the General
| Railroad act; grant the franchise which Is to be
awarded to the highest bidder; TX the rate OF
tolls, and build bridges for the road over the Har-
lem River. When the Commissioners have fixed
the route they shall offer the franchise Tor sale
within thirty days afterward. The act forbids the
building OF the road over. along or under Broad
| way or Fifth avenue below Fifty.nnth street. In
that private parties, after due test, fail to
| build road then the Commissioners are to issue
| bonds OF the city for the building OF It, the Board
OF Aldermen to provide for the raising OF the tax
necessary to meet the expenditures, the amount
not 10 exceed Sc, 900, 000 The other features Of
the bill are precisely similar TO the provisions in
the Moore bill.
THE MINORITY REPORT.
The minority report. after speaking at great
length OF the charters given by the State Legisla
ture to various private contractors and the fall
OF one and all 70 accomplish any thing, goes on
as follows:-
1t has been argued that for the city to build the
ROAD II Will be necessary to permanently increase
our present heavy DEBT and thus impose add.
tional burden upon an already oppressed people.
TO say nothing o! the unreasonable benefits
winch would be sure to follow the outlay. we think
that this argument must surely fell to the ground
II 1t can be shown that the city, by engaging in
this undertaking viii, instead Of losing, DE able
in comparatively short period not only to pay OF
all the cost OF the road but also to secure large
yearly revenue Tor the city treasury. 1t mas been,
heretofore, mooted question; whether a
quate return upon the capital invested in
It's construction. careful and exhaustive
made by the American Society Of Civil Engineers
who IN their report OF February 3, 1875, append u
! tabulated statement OF the profits to be derived
from rapid transit, calculated upon the basis of the
| business done by the present hol &c car companies
OF TINS city. We reg ieave TO refer to tnat state.
ment, beginning at page So Of said report. We
cOnslder tnat 1t is there clearly demonstrated that
rapid transit in this city would after covering
the original cost OF the road, pay handsome re-
turn upon tue capital Invested therein. The
! Undersigned believe that one OF the cnieI reasons
which has deferred private capital from
this undertaking Is the well founded be-
hel that wnen road Is built the same
VIII be found so remuneratve that competition