The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-03-10

equip his Will FdVe u UalanCe IOr other
penses, such as the acquirement OF real estate,
construction OF depot, &c., OF 100000. All sub
scrlpiions are on STOCK basis, and n the dlrec-
tors. 10 be hereafter appointed from among the
stockholders, choose 10 issue bonds. they can do So
Alter careful estimate 1t Is considered that the
road Will earn ten per cent on its cOsr SUB.
scrioers need pay In out twenty per cent OF their
SUBSCRIPTION al time "a the sections are ac-
tually Duilt and accepted. ana all payments can be
made TO Duncan, sherman a Co., bankers and
registrars oil the company, who VIII sec that all
agreements are carried out before passing over
the money.
''rHE PROPERTY OWNERS
on Church aud Wooster streets" said Mr.. Fiske.
ARE almost unanimously IN iavor or the ROAD.
Tue COMPANY have made very elaborate SURVEYS
OF those streets and are completely satisfied with
the results AS TO the question whether Broadway
or Fourth avenue VIII be selected for the continu-
ance OF the road from Fourte nth street II Is as
yet Undecided. The latter Is perhaps the natural
route as ~ Is the nearest, ana may re.
marx, by the way, tnat Commodore Vanderbilt
mas given assurance that he VIII not oppose us 10.
cation tneie' me tunnel is, however, good dea!
IN the way. Doubtless the Broadway people VIII
DC very much opposed 10 locating IL on that thor
ougniare' put IT IS anticipated when u Is once
completed 10 Fourteenth street tue beauty OF the
structure viii be found to be such that their oppo-
slton TO IL VIII be withdraw. AS viii be seen,
the estimated expense LOT the construction OF the
road Is mucn less than The people nave been led
TO anticipate, and less IMAM any other character
o rapid transit road must necessarily be. This 10
the first trial made IN calling lor popular subscrp-
We mink lney now nave an opportunity TO 90
tain it.n
RePoRrER-Are there any prominent railroad
men connected Win me company
Mr.. FlSKE-Not one and The corporation IL en-.
urey Independent OF all c1ques or ADVERSE inter.
ests and proposes 10 continue so. ltallsts have
offered TO subscribe largely II they could be shown
now 70 make some money out OF IL; but no sucn
knowledge could be Afforded them ana nothing
can be realized from II oy any save as a egit-
innate investment Tne committee Tor receiving
subscriptions are all prominent business men and
are ia no way connected vita railroad schemes.
Tie following are the
CONDITIONS OF SUBSCRIPTIONS
Fif-The STOCK OF this company viii be transferable
al 4; office NO 10 Broadway bur no eertincaie WI DO
a %ai asran & Y ss A'''
% issue o. GaIn l9r the tn
Bowling Green g ne Grand Ssnra aepot AZ Eor.y.
value OF 500 eaeh and 10 an average OF 100 shares per
og G ny route Or oSe By ne
inscriptions hereto saa be PAYABLE as FOL,
the proposed fAiroad track has been ereesed, ana
an nye niles Of ns raeH or an
alent OF double Track have been erected SUBSCRIPTIONS
pleaole in order mrsher eAteniions OF said
tons shai be made he order Of Duncan, sherman
Co. on notice ey man INA. eerieales q the eenstanc
w.,h them ey the S,.e Board 9! tnsneers ersaed BY
scrioers may their option their subscriptions
M ana e5 be pS Ss at nS Of Of
line between the points named less dividends pad.
vered to subscribers when full paid upon prese
oil the lns,alment receipts.
THE FIRST roUNpArIoN PIER.
! The provisional board OF directors or the CON-
pany, acting under ADVICE oil their counsel
| COmpllanCe Win the requirements o. Cue quarter,
proceeded TO cause work TO DE commenced within
SIX months alter their election, by consti ucting
the first foundation pier at tue corner OF Norris
and Church streets. The curbsione line being
over vault, a masonry pier was bult from the
bottom to the top OF the vault An invitation 10
Mr.. Peter Cooper To lay the corner stone OF tho
enterprise was accepted by that eminent citizen.
The ceremony took place on the a4th day OF De-
cember, 1874, al noon.
SPEECH OF PETER COOPER
Mr. Cooper III performing the duty assigned him
SAID
This casting IS now laid in the fervent hope that il Is
the beginning OF an nonss papa ~ an1
growing city |; is intended to do thus BY giving rapid
homes with the greatest possible safety and expedition
The company subsequently requested Mr.. Cooper
to wIite out MS address that II might be preserved
is to De seen at their ONCE. IN his Handwriting.
done IN the eighty-iourtn year Oh his active and
useful life.
ACTION OF THE CHEAP TRANSPORTATION AssocIA-
At the meeting OF tue Cheap TRANSFORMATION
Association yesterday, the following resolution
was adopted
Whereas under article of the constitution tho
objects this association is to advocate te
ment OF those existing and advocate such other
principles and projects III connection with the subject or
prosperity OF our city and country.
Resolved, Tha, the rapid transit Of freight and pas,en-
gers from the lower parts the city to the Harlem
River a vital interest 10 this association
ih Which az o.
by certain and real estate owners in this city, IS
Resolved that the movement for rapid transit be re-,
at next meeting on It's ieasiby. and the advisable,
y OF this association lending It's AID and the weight or
, transit capital stock mud.
The following resolution. offered by Mr.. Thur
Der, upon the same OCCASION, was also adopted
Resolved, That we favor the adoption Of a general
roads under sucn regulations As the local authorities
shah prescribe.