The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-02-09
RAPID TRANSIT.
How Much Money Can PrOiitably Be Invested
in Building a Road.
A LESSON FOR CAPITALISTS

Fit is true that capitalists have not hitherto In
vested money in schemes TO hasten the birth o.
rapid transit. only because they could discover nc
proof that speedy railroad through the city would
bring them good interest upon investments, the
doubts OF those gentlemen are likely TO DO 70
solved into nothingness very soon. The report
which was recently made by committee to the
American Society OF civil Engineers, and which
is soon TO be made public will have as appendices
two sets OF tables worked out by different gentle
men. each OF which will demonstrate that rapid
transit railway If built with proper care as to the
expenditure Of money, win prove extremely pront
able to the holders of ITS stock. These tables are
the results OF extreme asslduity and vigilance. In
preparing them the sum OF $500, 900 has been
taken as the greatest sum necessary to build and
equip each mile OF the roadway. With this ex.
pendture It IL estimated that 800 900 passengers
must be carried over each mile OF roadway during
the year, and that each passenger mile" srsv.
elled must bring to the railway company ono and
one-llth cents In other words, rapid-t transit
railway Of ten miles long must be patronized oy
$500, 900 persons. each OF whom must pay twelve
cents fare, else the railway will be Improbable.
Now, when 1t Is considered that the horse.
car railways carried during tho year 1873 more
than 114,0C0, 900 passengers, the most confirmed
"Doubtng Thomas must be convinced that q
rapid.running and sale railway will attract to /,
passengers, at the very least 900 OF people
during year, each or whom Will be willina
to pay twelve cents fare. There has been q verJ
queer kind OF reasoning employed by some people
who have been over-anXious to prove that rapid
transit will necessarily be wonderfully profitable.
The results OF this reasoning indicate that after
rapid trains shall have begun to run over elevated
railways there Will be need for horse cars that
all the present patrons OF the latter vehicles viii
then be diverted from them and led 70 the rapid
transit railroad. Tnan this belief nothing can %
more taaclous. 1t Is tar to assume That the
somewhat expensive rapid transit railway will not
be pltronizeu regularly by those people VINO live
below Forty secon1 street. Yet If all who live
above that imaginary boundary patronize sys.
ten OF speedy railways, 1t must yield large incomes
to its controllers.
Several engineers who read Mr.. Evans letter in
the HERALD OF sunday commended the ideas ex.
pressed IN II to the reporter yesterday. The idea
OF having second sidewalk OF glass. between the
elevated railway and the sides OF the houses ap.
peared 10 particularly please them. They look
upon 1t as bridge over the objections made BY
stOrekeepers TO having their stores darkened bJ
coverings meant to shield the trains they pass
along nom the eyes OF 1mld people. There were.
however, some ideas expressed In the letter
which gave occasion .or discussion among engi.
neers. AS such ideas have no relation TO the I'm.
mediate subject OF rapid transit the objections ia
them and the arguments in their favor must be
passed over in this article.
Inc subscriptions to the fund for starting the
construction OF railway in accordance with tue
by Messrs. Roosevelt and Drake to be coming in
with encouraging speed. Messrs. John Haven
ndJacob Cohen reporied Yesterday that they had
procured q plumber OF pledges TO the proposed
iund. No statement Of the names or subscribers
VIII be made, 1t Is now said, until $1,000 00J are
pledged.
There Will be q meeting OF citizens OF the Nina.
teenth ward on Wednesday night. to discuss the
important subject o! rapid transit. Mr.. Jacob
Cohen SAYS the minds OF the members OF ''deI
beeples barry" IN that section are greatly moved
by this pregnant idea.