The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-02-01

nary railways Of England Is lower percentage of the
lions Haven New York Central and Of ali other
this experience in London - thai two
Tor an. sses move sS" as
cents or more by horse power
TIE legal faro from the City Hall the Grand Central
cents roa each passenger
70 & only sn Re " s
BY w9 ,s since The days Of s,s
thirds Of .h@se conveyed on te Third Avenue and
tan District and North Iondss fawsy. :sssssiy,
horse raIiroadsthsre viii sso6UD for capita.
what railway ought 70 cost from the City
s GASs a.. per
soe that gan cost NOT counting the common stock which
here VIA. has been demonstrated DAY for fourteen
sn In . & ss o s. 81
| cost OF the improvements
They show tina. this stock. which represent, here
cospanS q rf Eona" as o Sss Of % s
70 there must be- ~S' more ss ls
income me osr now made = psrhap, a. good ssss as
The 10. s'S " New York. reach higher
thu s "s Of
these conditions aud Deposited bank on each
definite period These subscribers may name II not all a.
least thirds Of the directors and they may prescribe
when. where and how the money shall be applied to the
work.
IL understood that there VIII be very little dnculty
In obtaining the required amount there Is still
prospect Of underground rapid transit
SIXTH AVENUE PROPERTY OWNERS BEFORE
MAYOR ELY.
A number OF property owners and other business
men on Sixth avenue waited upon Mayor Ely, at his
Office yesterday, Tor the purpose OF presenting their
views In opposition to the Gilbert Elevated Railway
About fifty gentlemen were present, among them Mr.
f. j. King, John Heller. G. H. Boyer, I. E. Macy. L.
G. F. Koch, Richard Meares and B. Altman.
pEPRECiAriNG REAL ESTATE
Mr. Morrison FIRST addressed the Mayor He re-
mark ed that the committee with q good deal OF
confidence TO seek redress from His Honor.
They all property owners and business
men OF Sixth avenue Many interests ut stake in
the erection Of the Gilbert Elevated Railway in that
locality. The road would cost So. 000 900, and the
property which it would ertainy deprecate on Sixth
avenue valued at $40 600 0O0 In OF the erec
ton Of the road the avenue this property must de-
preciate IRON twenty-five to fifty per cent Over
$40 900 600 in shrnkage of property would result on
Sixth avenue If this rapid transit road was erected
cording to the present plans Would be 10 the in
h ess oil the city allow the carrying OF such
\ ustce9 the railroad built business men would
not care about owning any property IN the
security in their real estate Investments.
This company had taken possession OF the
streets without paying Que cent Of COMPENSATION to
Tor their money, and they did not wish to have 1t
stolen from them in such manner.
GRoCER's COMPLAINT
Mr. James Galway, another property owner, next
spoke He denied that anybody interested in the
Gilbert road. He also discaimed the charge that the
members OF the committee were opposed TO rapid
transit. II easy TO do rs was done in London
build in the middle OF the streets and purchase the
right OF way. short time since, previous 10
the erection OF the road on Greenwich street,
homes Now they had moved elsewhere as they
could not stand the bad air and smoke in the second
stories Stores which had rented Tor ST. COO
in somo instances, let for 5000 He Mr.. Galway (whO
is grocer, had number OF lady customers who
came to his carriages. They would not trust
their horses the vicinity IL the Elevated Railroad
was built 1t would drive all these people out Of the
avenue The dry goods interest, which always
very large here would also be similarly affected. lie
had offered his property case the Elevated road was
continued on tho avenue, TO friend hrty-three per
cent less than present value The friend refused to
take 1t this figure.
Mr. John Keller considered that the Mayor would
them justice the controversy. They treated
by tins company most outrageousiy. Many of the gen
temen who then waited upon the Mayor had worked
Tor over twenty years in this city amass n compe
tency, they had put their money in real estate
they considered II the safest Investment They
now that nothing was sale from rapacious rings
The people did not grumbe about paying taxes the
money was property spent. They could no; SEQ why
the city could not build an underground rail-
road Fnh avenue was the most eligible
route Tor rapid transit, as it loads directly
and other important localities 1t not right to
switch off suddenly from South Fifth avenue to Sixth
avenue. Why continue the road straight Tho
company was evidently afraid to encounter the oppo
from the wealthy residents OF Filth avenue. II
The Elevated Railroad was carried through Sixth ave-
nue. 800 families would be made poor The people
OF New York allowed themselves to be robbed
by anng of about $1,000, coo per month for period
OF four yours An attempt was now made to rob
number OF industrious men OF thor hard earned
money.
DE PEysTER wARPATn.
General DO peyster came down at the risk OF his
health argue against this PROJECT II was the most
unjust measure started. lie lived outside the
city cmncnce about the same height rs that OF
the second story windows In Greenwich street. Tho
railroad cars passed By and the smoke therelrom was
actually sIckenIng How much must DO this
smoke and dust arising from the road In tho city.
Under the Gilbert plan every bit OF AR and light was
shut out and the property OF the vicinity actually
coniscated People might as well drive under water
spout under the Gilbert road during stormy weather
Persons out OF town desirous OF obtaining rapid
transit might come forward and pay for The dopre
cation in property OF those affected IN different parts
dispose of his property to any advantage whatever
until this matter was settled
IMPENDING BANKRUPTCY.
Mr. s. II. Boyer described the pts to take
this property by what he called all internal ring. II
hc improved his property at present he could not
realize three and hall per cent upon IT, He believed
in rapid transit but he want ed the built such
manner that the property owners along the line OF
tho route would be reimbursed for any injury de-
probation Let 1t be run in the centre OF the street
orunderground. II the Gilbert road was placed in
Sixth avenue hc-Mr Beyer-was willing TO confess
that he " ould become bankrupt
A GRAND JURY, no!
Mr.. IL. A. King did not know OF any such railroad
in existence as that proposed under the Gilbert plan.
II nuisance, which should be brought before
Grand Jury Sixth avenue would be next TO
Broadway in point OF Importance as a business thor
ougniare They, as property owners freely paid
and assessments for sewerage opening streets and the
numerous other calls made upon them during the
year. Hc compelled to pay assessments 10 the
amount of 81, 900 twenty five teet OF Boulevard
property. Surprising this avenue was aterward
f.r A moi hn nptra
The rights Of taxpayers should not thus DO tramped
upon.
STEAM WALL.
Mr. G. ii. Philips called attention to the dangers
which must result 10 horses travelling under The