New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-09-10

This was Q mistake. Only ono can be built
for years to come, and only one Is now
needed. TO be sure strong hopes are held out
that there will he consolidation OF the two
authorized companies, but such . consolidation
must be q fixed fact before capital will come
to the aid of tho enterprise. Capita llsts
will not put money into either company while
the ether exists az q rival organization, for
there have been no satisfactory assurances that
there is profitable work for two roads. The
great drawback to all these schemes in the
past has been the uncertainty OF the value OF
the franchises. Under former conditions the
most valuable franchise might any day be de-
strOyed by the action of the Legislature IN re-
pealng charters or curtailing privileges or cx-
tending both to rival organizations. In the
multitude of schemes was the safety OF the
surface roads, and often the street companies
procured charters for rapid transit roads which
they had not the remOtest idea of building,
and which they used solely to embarrass Others
which threatened success. In this way capital
has been deferred from investment in the best
of the schemes, and capital will hesitate If
there is to he show of rivalry between the
Ncw-York Elevated and the Gilbert road.
For these reasons we look on the consolidation
of the two companies upon an equitable basis
az a condition indispensable to the carly solii-
ton OF this knOtty question.
The selection Of cheap and good plan ia
the next most important work remaining to the
Commissioners. The "one-Iegged" road In
Greenwich-st will not satisfy the public de-
mands of the mOmen; for a secure and slightly
structure nor the requirements OF travel In the
near future. The Gilbert scheme is too costly
in the broad avenues up town, though cheap
enough where it is to span the narrower
streets of the lower part of the city. mGdi-
f;cation of this plan TO the extent of placing
the road upon a double lire of posts in tie
avenues will practically be an elaboration OF
the Greenwich ST. system, and prove satlsfac-
tory enough. Capitalists will require cheap
plan before investing IN what the most of them
still look upon as an experiment.
Another point worthy of serious consi''era-
ton is the source OF the needed capital.
Property down town and in tho heart OF tho
city is not gong 70 bald the road. or any foot
of it, 1t is the upper part of the island. the
city beyond Harlem River, the towns along
the Sound and the IIud on which will cyentu-
ally furnish the capital for such Il road,
the enterprise for the sake OF Job
allo dividends Most of the well known
real estate holders whose aid seems to be
col,atcd upon are not actively 'Sti!e to the
scheme, but Indifferent to its success. Some
look upon the projected roads as an actuai
damage to their property, inaSm'lch rs they
are to open channels to Other and cheaper
districts. We do not anticipate opposition
from these men f; they will simply leave Tie
scheme alone. In fact there Is 70 reason to
fear much hostility in future from any source
not even the surface railway companies. Their
ingenuity is doubtless very great. but 1t Is
difficult to perceive any practical means or
opposing ali enterprise legalizcd by the au-
thoitics ard popular with the people, except
by detcrrng capital or buying the franchises
outright and ii the schemes for rapid transit
are reduced to one in number, it is difficult to
sec how they can do even this.