The New York herald., 1875-09-01
THE THIRD AVENUE RAILROAD.

The neat little speech, rather the adroit and pa
thetic protest made before the Rapid Transit Commis
sion by Mr.. g. L Phillips President Of the Third Ave-
nue. Railroad Company, has excited some comment
Indeed the ttenng stockholders Of the concern must
have been alarmed at the by him to the
effect that the profits OF the road much less than
people imagined though il is to be hoped that the pow
erty stricken line, in which Mr. President Philips SAYS
g. 600 900 ia invested, viii yet rally and least meet
its liabilities, to say nothing Of q nominal dividend
which, in times TO come may requite Investments in
the stock.
In order that the Third Avenue Railroad Company
may not be swept entirely out Of existence its bland
president protests protests emphacay against the
construction Of rapid road that would infringe
upon the precincts Of the fashionable clothes mart OF
Chatham street, the classic purlieus OF the Bowery
or the romantic surroundings OF tho grand
Third avenue itself These charming spots he said
were the main arteries Of the city OF New York
and with an eye for the beautiful be thought that the
erection Of the piers and supports Of elevated road
would encroach upon their width as to seriously in
jure the value Of property along the road DESTROYING
the stores places Of business and the houses as
habtations The disnterestedness and humane and pa
triotc feeling thus expressed by President Phillips will
doubtless be commended py every stockholder in his
impoverished company, which, he parentheticay
INV
''new tangled ideasn
After this earnest appeal 10 the sympathies of the
Commission comes threat for although as he saws
less than six per cent had been actually saved II an
elevated railroad erected Third avenue the
directors Of the horse railroad would slow lnpet
uoning the Legislature 70 allow them more than
horse power. The president is evidently going by
steam and the announcement will doubtless be crafty.
Ing to numerous belaed Office seekers to know that
should this combatve idea of Mr. Phillips be carried out
there will be for bakers dozen OF accommodating
coroners The and substance Of the whole matter
may be fairly set FORTH and it is that while Mr. Phillips
has no objection TO rapid Africa or Herzego-
vna ne OBJECTS TO have the fair dealing denizens Of
Chatham street disturbed indeed Of any part Of the
CITY through which the track Of the Third Avenue Com
And taking into account the mplorinS address OF Mr
Phps 70 the Commission be let alone on the score
o. mendicancy u Is really singular that Third Avenue
RAILROAD stock cannot be purchased in the market even
nj exorDitant rates True, II IS offered In qinperlV
way al tines by some fat stockhoder about 70 give IN
business but no does see the broad daylight
tnan ~ Pouhoed upon by the wary with shout Of
triumph II sells everywhere for $50 upward and few
lose the opportunity 70 snap t when offered for
asposaL ID word, the Third Avenue Railroad s tho
weaihiest and most important street railroad company
N the city, and the president directors could moi
change The opinion Of the public this score Il car
from 76 900 100 900 passengers daiv fact bch
speaks for tseE The company runs over go cars is2
OF which employed on the main Hne 40 nn tbs
Grand Central depot route and The l25th street line
(eased by the Third Avenue Company the latter run
ming between the East and North Rivers
The cost Of the road and equipment was ae sonovva
according 10 report late last fall Paid ruaran
tees In 1858 for tracks, 81 500 600; lease Of building
81 Sl 365 horses and harness. $3.50 0O0 $3.50 600
making total OF So 767 365 The number Of passengers
carried during the year something H. 900 600
and the receipts from this source amounted %
81 600 600 In 1873 S505 $50 obtained from increased
stock and Sal, 900 from other The sum Of
81 600 900 paid for operating the road Sl51 on
bonds and on loans Sl61, $50
no fhn anfta nj nfor
the rate Of twelve per quarter and per cut
for The three quarters Of tA4 v~"- SA'- - - -