The New York herald., 1877-02-03
RAPID TRANSIT.

RAPID TRANSIT.
FURTHER INSIGHT INTO TIE AFFAIRS %
THE NEW YORK CITY CENTRAL UNDEns
GROUND RAILWAY coMPANY-rHE THIRTY.
FIVE MILLION coNrnAcr-rHE ELEVATED
ROAD AND IT'S DIRECTORS.
The recent erpose of the manner In which the New
York City Central Underground Railroad Company let
thcir contracts provided the construction of the
work has excited considerable interest among CAPT.
tals,s Interested in rapid transit, they now begin
TO understand tho difficulties that wcro placed In tho
way OF an underground road. HERALD reporter
was out yesterday searching for Information on the
subject and copy Of two contracts that
wcro given TO Francis =. Byrue, both dated March 0,
1870 There Is no mstaking the figures In these COD
tracts and they speak for themselves
THE FIRST CONTRACT.
In the nrst place he to receive $14,o 900 Ct
bonds for constructing and cqupping tho railway from
CITY Hall to Fortys street, and by tho terms
only required to expend $5oOoo each railway sta
tiop, sum that would hardly furnish very imposing
depot The right OF way and damages were 10 bc In
Cured by the company.
THE SECOND CONTRACT
BY tho second contract OF the same date byrne was
to secure tho right OF way from the City Hall TO Forty.
sixth street. where not granted by the charter
For this service he to be paid So OO0 600 Of full
paid capital stock. This cxtra tax really mado the
cost OF constructing and cquippng three and onehal
miles OF underground road from the City Hall to
Forty sixth street amount to $20, 100000 For tho
extension up Broadway from Madison square to Gen.
ra Park he was awarded ST. Of bonds, and also
aa allowance OF S50 600 for each station. II has been
tnated that this branch of the work could be COM
peted very best style for 81 500 000 Hc was also
build the road from Forty-sixth street to Harlem
RIVER work which ho to receive $9 500, 600.
CURIOUS FACT.
II Is curious fact that tho four tracks recently laid
by Mr.. Vanderbilt from Forty second street to Harlem
River only $630l o00 At tho time the contract
was made there Is doubt but tho last contract
could have been we'll executed tor 81, 500 000 The
extension the Battery IRON tho City Hall was rated
NJ 49, 100 0O0-moro than tnrce times what would
actually cost The whole account under these two
contracts Tor the eleven miles Is as foows:-
First mortgage o0nos eoo, oVu, OOU
Capital stock. 0,UW,OUo
Money 2'aoo,ooQ
Total. s4s, 500 ooa
The capital stock was SlO 000 OO0 leaving S4.0OuOW
OF stock which was to provide the " 500 600 IN money
that II tho railway mad 3ccn made under IT tho capt.
taI account OF the company would not have been less
than $45, 600 00O
lcm River, with full equipment, first class Stations
together with no land 10 be bought can DO made foe
Tho Third Avenue horse cars earn the interest on this
capital
IT appears rather astonishing iact that such con-
tracts should have been approved of by OOard OF d.
rectors with he interest oil the company at heart Mr.
William a. WhitbecK, one OF the directors Of the com.
pany, was strenuous III his excrtons 10 defeat the
Dyrne contract, may be seen rom the following ex
from letter dated June 20, lS7O that he sent
to tho President and Board OF Dlrccors:-
present In The Board of Directors when the Byrns
contract nuoptcd 1t was not read being very volum
| uuuS rs
oy the Board under the belief that he had
Il provide. or 10 III him
@ j. the cost s" Of Of
is more per mile for consructiou exclusive OF cos,
ceedng the rost expensive railroad constructions
ton expense London line But what's
,n. s ar:vn ass % M qas
person OF limited means mere negotiation $1,000 o.
wherever wants dump load OF sand other mate
risths being made the prctexbonds may by this con.
purpose and sha. Mr. Byrne, stand behind
him. viii become tho Of this property, and tho
company.
In other words provides for private using tho
bonds tho company 70 buy e" esatenot for the com
chase money the railway and tho property
sso H.s s OF aWay
Those with other provisions and the ac TINT no capital
OF the hoard to made
beginning to deceptive its charactcr ought
annnied Certainly the stock OF TINS company must DO
II is understood that after the respectable members
Of the Board resigned the affair in the interest
| OF the New YORK, Boston and Montreal Railroad, Of
which Mr. George Brown, Que OF tho directors, was
then acting president At this time both Tweed and
wecny had been elected members OF the Board OF d.
rcctors the place OF some oil those who resigned.
OBJECTIONS THE ELEVATED ROAD ANSWERED
An appeal has been made from the recent decision ol
tho General Term OF the Supreme Court In favor oi td
Gilbert Elevated road and as soon AS tho decision from
the Court of Appeals is made, provided that 1t be Ia
yoraule to the Gilbert company, work the road will
hC
that all legal obstacles are removed from the
path toward completion OF the structure according 10
President Foster. the road will DO In working order as
far up town FIfty-nnth street.
Mr. Foster was asked yesterday his opinion on the
reply OF Mayor Ely to the deputation which waited on
him. on Wednesday, 10 ask HIM 10 use his influence 10
prevent the introduction Of rapid transit Mr. Foster
said that thought "the Mayor could not have done
other than what he did. He promised TO protect the
rtgh,s oil the citizens far he could always keep
ing In mind, the Importance Of quick travel.
Tue objectons to rapid transit which offered, u
coutintcd Mr.. Foster, "are very weak. ono OF the
most encouraging retrospccts OF the leaders IN tne
when been made to It,. II has met with less op.
position than any great Improvement. that has been
Introduced into tho city since II was city.
Take, example, the laying OF water pipes, the In
PRODUCTION gas the building Of horse rail-
roads, The public did appreciate the great
ience be experienced from these 'innovatons,' and
expressed lis dspleasurc when the plans were mrs,
in more violent ways, AS We all know.
| DARKNESS AND FRIGHTENED HORSES
"The arguments which are offered that tho cevntcd
road will obscure tho light in the buildings Sixth
avenue, that tho noise OF the trains Will annoying
that the structure will obsruct travel tho street.
horses will be adrighed at the sight and
or the trains aud tho Whistles are all without any
bas's. Tho tracks will be built in the middle
Of the street, and further away from the
buildings IN either siie than the width of many
downtown Streets These tracks Will be built simply
Oil arches stretching from curb TO curb, of which
there Will be but iour on block. 1t has been said
that tho street will be hoored over, but that
would be ridiculous The noise caused by passing
tram will he less than that made by horse car and
steam Will be let Oft IN manner which will prevent
person standing the sidewalk directly beneath
ocom olive hearing anything that would attract
MS attention. Screens will bc built either side
the track in such way that no horse, though hs
stand next the curb catch sight OF q car"
CORRESPONDENTS.
| Mr. Edward j. King writes TO the HERALD SAYING
that no Is certain that the delegation OF property
owners on sixth avenue who waited or tho Mayor on