The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-06-02
RAPID TRANSIT DISCUSSED.
A surrrce Railroad Mans Con.oiins Views
About n All.

cit Is an undoubted fact" director OF
tho Second Avenue Railroad said yesterday.
that tho prospect OF building tho elevated
roads has hurt the stocks Of the horse railroads.
Our stock. which had sold for 50 before that.
fell to So at one timo but since that II has sold
for Go. at which price tho last sale that know
OF was effected about two months ago. The
depreciation OF tho Third Avenue stock was
much greater. / have seen 1t sell at $50. Before
tho rapid transit decision in the Court OF APP
pcals 1t was selling at 1870: 1t sold at 1876 right
aitcrward. But. after all. the Third Avenue,
oven with the elevated tracks laid there Ia pay-
ing 40 per cont.
i" 1t Is altogether mistaken notion that the
elevated roads will hurt us. 1t will take
away some of our long riders. md we would
rather spare them than not We lose money on
II man who gets on, at Harlem md rides all the
WY down town. We mako money on the man
who rides ten or twenty squares and then
makes room for others. On the way from lar
times. Our best riders ~ the middle OF tho
day when the cars run half fun, IRE the women
and children. Thcy are not pressed for time,
like man going TO business. and they will not
run up thirty or thirty-nvc feet IN mir to
take II train. They arc afraid Of H. II you
wanted to reach THE Sun Office from up town.
and had 10 walk over. say Ia Forty second
street. and wait four or flvo minutes, and then
ct dumped out four or lye squares out ~ your
WAY. 10y the time you walked over 10 THE sun
office you would find you hadn't gained any
time, l was down town ,nG Gthor Gay, Iay ana
Whlt'u 10 come up 10 fllN-nlnlu NlTftl Nll
Second avenue. | took the elevated road ~
Fify-ninth street and Ninth avenue. and
then took Il Flny-ninth street car over 20 Soc
ond avenue found that I could have rca ehcd
that point Just two minutes sooner by tax Ing
the Second ayenue rond all the way 10 Fifty
ninth street. Tint Is not rapid transit.
why. II this rapid transit syst m were fensi-
bic and profitable. we should have had II. The
Presidents OF the various roads met and dis
cusscd the subject when It first came up. md
after figuring the cost Of building and running
elevated roads. and giving ;he scheme tho
benefit OF the passenger traffic on all the ronds,
they concluded that II wouldn't pay four per
cent. on the investment. What Is an elevated
road but one continuous bridgeY To run over
1t ut twenty miles an hour would pound II into
ruin in no time
" The only men who will make money ont Of
the elevated roads are the men who weif in and
got the bonds. On contract for supplying ir"
iron alone tho estimated profits were ~ 100000
1t boats the Credit Nohilrr all hollow.
II they want rapid transit they have got to
make an underground road. The only feasible
rapid traneit scheme that W. have ever been
offered In New York was Peter Is. Swecny's
Viuduot bill. and the only man in New lprk TO-
day that can give us real rapid transit IL VIM.
II. Vanderbilt. He has rot the fran 'hiSe; he
has got an underground road down fo Thirty
second street and ~ tr.iling cost. colupara-
lively. he can run il down 90 the City Hail."