New-York tribune., 1875-02-02
THE PROCEEDINGS.

The meeting was called TO order, few mo-
ments after noon, by James NJ Drake, who made
some preliminary explanations in regard TO the delay
there had been IN holding the meeting, and corrected
81 error into which be said the puOlc had fallen IN
attaching fictitious Importance TO the Committee ap
pointed az the last meeting The public had imagined
that this Committee TO build rapid transit road
II was however, only appointed TO arrange preAmln
aries for larger and more representative meeting.
After the election Of Mr Ackerman aud Mr. Roosevelt
as officers Of the meeting Mr. Roosevelt read the follow
ing resolution when be said he had been asked to
submit:
Rcsored That the proceedings Of this meeting and the
discussions growing out of thein be confined eXcusVeN
10 the consideration oI the proposed pau Ol I"s"E
fund a basis Of rapid transit.
l. F. Barry aud NJ. NJ Vail objected to the passage Of
the resolution this stage OF the proceedngs as Il
would shut out all discussion. Which they thought was
necessary full understanding OF the question, and
which would elicit facts which would be not only de-
slrabe but important. Mr.. Drake hoped The resolution
would be sustained for the simple reason that tie
question here was not one OF plans but Of money
Decide tue money question first he said. "a and
capitalists viii De ready 10 come IL as soon as tAey sec
people are IN earnest"
Mr. Peterson followed Mr.. Drake. agreeing With him
a. far as the uonocUsson Of particular plans was con
cerned bat he thought discussion OF methods OF con
struclon might be useful. On the whole be wanted the
resolution laid the table. THIS proposition. however
was not entertained ty the meeting Jacob Cohen said
a
Was sub,crbed. He would put down for 81 0Oo
This of r was received with appausel Mr. Barry
arged hat the matter should be thoroughly discussed
Mr. Drake said he had prepared paper which he
thought would tie question before the meeting
II tins:
The undcr gned hereby gree to contribute the sums
opposite ccve names toward the creation
OF ,uud he invested 10 the capital stock OF railway
, ,rr ite ,i,nrro-e of frsnsportrg passengers and
..Hf- sII 10
ions as nav be arr.td upon Jy twc-thirds OF
tr subscribers. provided that the said twOIhirds
ha represent than 80 cent OF the whole sum
snm not less than $ o6cOO ,hal obtained. Il being
condi OF tins SUI. cripu1n mat no claims iOr IN
ercst. dividends OF other remuueraton snail Oe lade
ty tLe subscribers hereto until the terms agreed upon
Tor further capital -ba be complied with Periods at
which the amounts subscribed snail be payaOle ana al
further details 70 be tnc subject OF future % a{tRn R
men TO support II and stand 9y ~ ana eS'e 9't an @ @
about plans and systems. think TINS" sllj ne tue
he new Constitutional Amendments there can he no
special alto charters, and the subject has TO be
money ua6- capitalists put IN thei' money to secure
good uycs ut- j. for the people % come forward
noncy. There l- plenty Of money 10 be OBJ
famed from capitalists here ana aSo ln Europe,
provided u can only be shown that the people are lu
e"ILea'. 4-T H. yII' 6v the side ~ bI, W con and
eaU out for H-rcu help hlu out Of the mire. MI
Drake alluded the city rai.T companies the cor
nUi,on of slch c0rporaons ana thrir PROBABLE Oppos
earnest 10 crush out any opposition His enthusiastic
s'G ererg.ftr soe,c was concluded with the remark
tat the paper c1 OUTSIDE OF anv Clique or any
Influence. although a great many people had been 70
the speaker m tie interest OF parti u4r systems He
blo turned deaf ear to every one Of and lie
satisfied II the people stood 10y tins paper pure and
mnrp-, as i was. the project would 20 through
Cs Dlrtee observed tnat II tins wa TO Ue a private
corporation he ID not see how tEey were going TO pos
otner private corporation could do.
Commodore Levy said that IN Ms ophon raWd
transit road could D. blt from The Battery 10 Harem
Al the rate OF t310U a mile. lie had Deen WeIl IN
formed on that su'lect ana hr qua no' zee 1ie OF
suDs, roIug more money than va teqIlIeu WttA you
Kct be road started" he concluded You VIII -ct all the
tUOp0 per Ic MADE S5"NVy TO Haf.cu' ooIn0uOte VI
Iyy reloued that IL Only e.gL hi To Harlem
Tlere is one essential condition paper of that de
clloi0 amt tuat 10 should be general IN its
sripIon II Won put any definite point the paper. That
natter u Undoubtedly come before proper persons for
Mir Peterson SAID II the gentlemen put their
names 10 this paper oD eating Themselves 70 paw
NOV me I%Ptt - 80 rit \. The KafterV M -
the Committee should aerward determine to have tue
road START rom the Hal, pat u the gentlemen
present II tnSt luyaldate the subscription.
further speaking, tue resolution was carried unan
one more suggestion added Mr. Drake this matter, II
Il H. 10 accomplish thing ~ an. a. sand before must
rcople in this matter. and ASK 100 10 come for
ward either at some other time, anu sEn paper
10 THIS puTpOrt The unders gned hereby pledge them
seves 10 their best efforts oOtIlAug subscriptions
10 the extent OF at least $4,000 each for the fund pro
posed 10 be raised 70 promote Iapld Tdnht' upon
he conditions set forth N tue subscription paper
adopted at the meeting ~ citlzens II hrId at the
Cnam ber Of Commerce Feb. J, ,lF5 |ould SIMPLY shs-
gcst such gentlemen a. nave not tine TO spare put
have lively interest ~ this subject that they take one
OF these papers aud put d""h telr name ior <oOUOJ
winch would running about and be an Important
addition Llughterl Not the least OF the difficulties
which have encountered duuug The last week has been
20 Keep topic O conversation confined 10 TINS one
subject People Want 10 talk about plans and you Will
mud Il hard 10 keep them down aud their 10
Tins paper. II 10 can take that paper and 20
around and get suB.cripUOus-and great many have
SAID, &C. get 50 meu'-yOu VIII Ne astOhished TO
zee now easy u thing it II 90 be ACCOMPLISHED
An appointment OF d Committee OF Twenty-Five was
mere suggrs ted. Mr.. Drake called upon any OF the
gentlemen present fOrw ard ana volunteer their
servces sign their names. Jacob Cohen asked Why
put al $4,000 limiting that some night give SoVn
The Obligation paper then adopted unanimously.
Of 10 MINUTES Was taken Tor signatures AZ
he OF that time about SlyOO had heen subscribed
WheH the meeting had been IcassemDled, the CHAIRMAN
announced that gentleman mad offered TO make one oi
,eu subscribe $1,000 apiece Oul as lAe RculiclndH
had made MS offer private the Chairman would not
dvulge hi, name, although It was loudly called for
Nj Hazard ssld that, in conversation with banker
IN TINS Civ who had Interest in plan what
ever" OF Friday the latter tOd him lMr Hazard tndt
suitable pau Tor the cOrsrucu9n " RAPID trans
railway between the Battery and Forty secOndst was
suggested he wond subscribe ~ cash for himself and
friends 20 per cent ~ the cost OF that road Ihat the
speaker thought would be very substanial beginning
and lie offered the following resolution: -. ,
Eoi-od Of three appointed bv the Char ard
inquire 'ae be practical existing plan or ID.
vtrucuon road having The egaston com
peto Whca would counsud ooHas1s p0fA0u oi TIE capital
Iecesary Tor 10 construction
dOre Vanderbilt regarding me propriety OF making the
Harlem railroad frOm FOTty-secOnds the continuation
had an interview with the Commodore, who tOd MN
the city any COMPANY might nave the Deuent OF bs
though he would not subscribe dollar. Mr. Peterson
SAID this would make 10 only from Le Battery 70
Harlem, ard, discaimiDg any " job on MS own
parL added that the Committee ought 10 BE- empow-
cred ~ Commodore Vanderbilt and ma Out u He
would do IL.
The preceding resolution was here laid the table
John B. Church then offered this resolution