New-York tribune., 1879-12-20
COST OF THE ELEVATED ROADS.
ACTUAL FIGURES GIvENTo THE COMMITTEE

ACTUAL FIGURES GIVENTO THE COMMITTEE
HISTORY OF THE NEw-YoRK ELEVATED RoAD-RE-
SUITS OF AN EXPERTS OBSERVATION-DISCLOSURES
OF CONTRACTS.
The Assembly Railroad Committee finished at
the rooms of the Chamber of Commerce yesterday
its inquiry regarding the cost of the elevated rail-
roads. The report of the investigation will be sub
mtted to the Legislature about January 10, and
will be supplemental TO general one on the great
railways of the State.
James A. Cowing, treasurer of the New-York
Elevated Railroad since 1872. gave history OF that
road from the time 1t was begun by the departed
West Side and Yonkers Railroad Company in 1870
till the present. In December 1877 he said, stock
to the amount of 81 O26,300 issued; the sub
scribers paying par for their stock and IL per cent
on bonds to the amount of 81, 100000, with an
agreement that they should pay the remainder when
it was demanded. The demand had never been
made. In May 1873. stock to the amount of
$1.O63.375 was issued and a month later $675,00
OF stock. Since then the company had Issued
81. 800, 900 in stock aud 81, 100000 in bonds. The
bond liability of the company was now $S.500.000
and the stock liability $G,50O000. The structure
of the double track to Harlem had cost $1,000
mile. This portion of the road had been built be-
fore the company leased its lines TO the Manhattan
Railway Company. Altogether the New-York Ele-
waited Railroad Company had built thirty-five miles
Of single track. The distance covered amounted TO
between sixteen and seventeen miles. Most of this
was built BIZ contract. Bonds had been sold nj dis
count the loss on them amounted TO thousands of
dollars. The contracts for building the road had
been let after advertising for proposals. No rebates
had been made to officers of the company by the
contractors i'll reward for the contracts. The sta
tions made and the foundations laid on sepa-
late contracts.
Benjamin Brewster testified that Decker Il Co.,
Of Philadelphia built AL tie stations OF the New
York Elevated Ralroa from the Battery to Sixty
seventh-st. Elnathan Sweet, jr civil engineer,
said that he had been detailed by State Engineer
Seymour 10 examine the contracts 6nd roadway oI
the elevated railroads and TO learn the actual cost
of the roads. The Ncw-York Loan and Improve
ment Company had furnished him with statement
OF the cost of constructing the Metropolitan Elc-
waited Railroad up TO September 30, 1879. lie had
carefully compared this statement with the
vouchers showing the payment OF money 10 con-
tractors and had made estimates as 10 tile cost
of the work. He had not finished his estimates. and
therefore could not make a complete statement re-
eardng the expenses Of constructing the road The
New-York Loan aud Improvement Company had
partly built the Metropolitan Road with ITS own
funds, and partly had the work done by contrac
tors. The structure built chiefly by the Edg
moor Iron Company, by Clark, Reeves * Co, and
by the keystone Bridge Company. From Twenty
second-st. 10 Fourth-st., and a small distance In
amitv-st., one mile IN all, the structure fur
nished by the Keystone Bridge Company, FOR $2l6,
ga 13. The structure did not include the founda-
tiOns. the rails or the stations. Clark. Reeves Il
Co. built the structure irom Grand-st. to WOrtli-sl.
nearly half mllc, for III IL, ,ONo from Worth to
Morris nearly nile, for 1914 ,232 50 from Eighty
third st. TO tie Harlem River, ON Ninth and Eighth
aves. four miles, for Sl,4i9,602 80. The firm of
j. b. 81. NJ Cornell had the contract for the CON
struction OF the stations the Metropolitan Road
They built fourteen stations between Rector and
Fifty-eighth-sts for Sj00,OC0 The firm was paid
S14 900 additional for alterations. One station ut
Fifty -thir1-st. aud Eighth-ave. cost $4,000.
Mr. Sweet, in reply to a question addressed 10 him
by General McCoOk, counsel for the Metropolitan,
said that that road could have been built more
cheapy in some respects. 1t built with far
greater solidIty than had been required by the
Rapid Transit Commissioners. The structure Of the
East Side Metropolitan. from Chatham-sqnare to the
Harlem River seven miles, was supplied by Clark,
Reeves & Co.. for 50 OG3.si3 The steel rails of
the West Side Metropolitan cost $40 so per ton
The Metropolitan had bought forty-fve locomotives
from the Grant Locomotive works, and ten from
the Dauforth Locomotive Works. All but twenty
of the cars of the company had been bnt by the
Pullman Palace Car Company. In conclusion Mr.
Sweet said that he was not prepared TO say that
the elevated roads had done all in their power for
the convenience and safety of the public. Thomas
c. Clark member of the firm OF Clark, Reeves Il
Co. testified that bis firm had furnished eleven or
twelve miles Of the Metropolitan structure. The
contracts on thoWest Side were to he paid for III
the companys first mort gage bonds at 90. He
would not like to duplicate the contracts, as they
were made at very low rates.