The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-09
RAPID TRANSIT.
Election of a New Board Of Directors
of the Elevated Road.
SOME INTERESTING FACTS.
Official Reports of the Chief Engineer
and Superintendent.
"A LETTER. TO MAYOR ELY.

An important meeting OF tho shareholders OF the
New York Elevated Railway place at their Offices,
No Broadw yesterday afternoon Mr. Cyrus W.
Field who occupied the char, addressed the meeting
as follows:-
GEyrLEMEx-It gives mo great pleasure TO meet to.
day the shareholders OF the New York Elevated Kali
road Company. A few short months ago We we're In
volved many lawsuits, ana two injnnctons were IN
force against us--one on tho west ana The other on
tho East River side-preventing us from completing
our railway, and borne down with heavy
floating debt These inJunctions nave poth oeen
removed, and to-day We nave not dollar OF float-
ing debt We have large balance IN bank, anu cash
subscriptions from responsible parties, payable as re-
CURED ample to complete and equip double track
elevated railway on side oil the city from the
Battery TO Eighty street, and double track on
the east side from the Battery 10 Sixyhrst street,
with branches the Grand Central depot, the City
MANY persons who few months ago were opposed
to our enterprise frankly admit that they were
mistaken and OF these very parties are coming
md ask ng as favor be permitted to subscribe tor
shares In our company Some of the street railroads
who have Tor eleven years fought US with an en-
ergy worthy OF better cause now suggest IN pleas
mt that arc not such bad ieiows ana thut
We should come to some friendly arrangement
We have made contracts for cash the completion
Of our road both the North ana on the East River
sidc and In very few months we hope to carry all
persons that wish TO travel up and down the city,
quickly and cheaply from the lower and upper part oil
this island on both sides
| hold in nv hand the report OF counsel show
ing present legal position OF the company; that OF
Chief Engineer, oil how our works are proceedings
OF our superintendent now the trans were running;
OF our Secretary TO our financial posi-
tion. All OF these documents Will DO printod and
sent to each shareholder.
With the Gilbert Elevated Railroad Company we are
on the friendly terms and earnestly endeav-
oripg how Jointly best serve the people
answer any question that any shareholder may desire
TO ask
BOARD OF DIRECTORS.
No questions being put the election of Board Of
Directors for the year 1878 proceeded with and
the following gentlemen were elected
Cyrus W. Field, David Bows, A. Il. Barney, W. T.
Pelton. John H. Hail. A. S. Barnes, Josiah M. Fskc,
John d. MARS, Edward NJ Field. d. A. Lndley, II. r.
Bishop Benjamin Brewster, J. A. Cowng.
OF the above Mr.. Field lie sufficiently known, Mr..
Bows millionaire produce merchant, Mr.. Barney
President of the United States Express Company
John H. Hall a paper manufacturer, Mr.. Barnes pub
Usher Mr. MARS a partner OF David BOWS, Mr.. Bishop
brother OF D. a. Mills, President of the Bank
of California and representing him In the Board, MIR.
Brewster a retired merchaut Mr. Field son OF the
President Mr.. Lindley member Of tho firm of Morris
X. Jesup Paten & Co., and M. Cowing has been for
years secretary OF the company
THE OFFICERS COMMITTEES
The following were then elected officers Of the
road -Cyrus W. Field President; W. T. Pelton, Vice
President; J. A. Cowing Secretary ana Treasurer;
Walter KATIE Chief Engineer, and I. T. Ondcrdonk,
Superintendent
The committees were then appointed as follows
Executive Commiitee-A. II. Barney. David Bows,
H. r. Bishop, John H. Hall, Benjamin Brewster.
Finance Commlttee-Josiah NJ. Fiske, David BOWS,
d. A. Lndley.
. Purchasing Committec-H X. Bishop Benjamin
Brewster, ID. A. Lindiey.
Auditing OBSERVATION-DISCLOSURES Brewster, A. 5.
Barnes, John d. MARS.
ENGINEERS REPORT.
ri tha Enrin INF af
was now submitted
NEW YoRK ELEVATED RAILROAD COMPANY }
DEPARTMENT OF TnH CnEr EScI s.
CYRus W. FIELD, ESQ., President:
Dir have the honor respectfully to submit the follow.
Department Of this company from the I'D OF October
the present day, and would offer in explanation OF its
brevty that the very pressing nature Of daily duties at
completion of the foundations, together with the time
m @ al anS % the
Iron has left without the time TO devote
mako At the date OF taking charge OF the department
completed field side lire 2Ooh street
and the cas-, side line to tne Harlem River and that
the side line and to l29th street the side
location on tho grouad had mace on two sections
only the west size line. between Morris and Thames
ltreets d34S feet on Greenwich street and between
1wcntyourth and Fortyirst streets H,J6J fec, the
The general plans and details OF the road structure
alter exhaustive discussion, in which the advice and
opinion obtained OF separate boards of distn-
cuished, disnterested civil engineers well known
rumplshed experts in the special lines OF
which project belongs aud being fuly Endorsed
Them Gnaliy adopted by company, tenders
them. invited by public had been
ceved from ncary n the prominent well
contractors in this line oil work under consea
tiUn.
Immediately succeeding my election as your engineer
instructed TO proceed with the
Eighty street, Nnth avenue round to sxtyhrst
Third avenue. ana to prosecute them
scale would. II possible their completion
before the advent of the winter weather. How tar 1
have succeeded in this days longer will
probably determine. 1 at augmented the en-
rneer corps to the degree required proceed
rapidly with the locating and supply
OF assistant engineers to supervise and direct the
lions OF tho construction gangs contracts for materials
tools and machinery made and orders their
given out supervisors foemen and aoorcrs
October Ninth twenty nth street
within low days alter on Front street Whitehall
Greenwich street Morris street, these
parties rapidly extended the
be laid for the and material vided until the
line placed under
WORK.
accurate account taken OF tho condition the
foundations TO the close Of yesterday
comparison with similar taken December "a
(n interval oil eight working days. Is shown the follow
ing tablet
Condition Dec ~. jim. T. Tcr,doe. Decyeass
Foundations
Completed. .............. 73t 1910 1886 -
In progress ............. 3J7 3lO al
delayed.