The New York herald., 1879-03-30
RAPID TRANSIT.

A MEETING OF CAPITALISTS TO ORGANIZE A
BUILT by SUBSCRIPTION AND THE STOCK TO
BE DIVIDED AMONG THE SUBSCRIBERS.
large number of capitalists and many residents
of Westchester county met yesterday morning in
the offices of Samuel r. MacLean & Co., bankers.
No. 90 Broadway, for the purpose OF considering
the immediate construction Of a rapid transit
railway from Harlem River. directly through
Morrisania and other towns in westchester
to Portchester. Mr.. Samuel Il. MacIlean presided.
and Mr.. j. I. Phillips acted Secretary 1t is
claimed that the New York and New Haven Railroad
Company very much opposed to any such prof.
ect, and il it within their power would defeat
the movement, they want to monopolize the whole
business. The parties at the meeting yesterday,
however, have control of the two charters existing
for such road the other side of the bridge One
of these charters is called the "Rapid Transit
Railway" and the other the "New York. West
chester and Boston Railway" They both come to q
point on the Harlem River. near the Third avenue
bridge, but the rapid transit railway in its route
avoids all navigsble streams. while in connection
with the charter Of the New York, Westchester and
Boston Railway, are special privileges to pass over
bayous and navigable streams The Rapid Transit
Railway inland from six to eight miles from the
New York. Westchester and Boston Railway.
to Danbury. Conn., dfty miles distant. where
1t can connect with the new route to
road the last section of which is approaching COM
pletion. 1t was claimed by Mr.. MacLean that this is
the shortest route by thirty miles to Boston The To-
cation Of the New York, Westchester and Boston
Railway begins at point the Harlem River. about
two hundred and fifty feet east of the Third avenue
bridge and extends through blocks and feus on the
most direct and feasible and through the old
village OF West Farms into Westchester county, where
it connect with any other line company organ
lied under the existing charters.
An opinion of Engineer s. w. Haight, who has
examined both these routes was read, in which he
would be cut through and that the obtaining OF the
right of way would not be difficult matter. He
stated that would be cheaper to pay right Of
way and to build surface road with rapid transit
than to construct an elevated road.
Offers Of subscriptions for portion Of the amount
Of capital required to build the road made by
then adopted
Resolved That the chair appoint committee
percentage subscription friendly
srprise property holders along the line and their
Resolved That subscription committee Of ten
both report adjourned meo,ing Wednesday a
same time and place.
In pursuance of these resolutions the following
gentlemen were appointed the Allotment Com.
mittee William II. Parsons, Joseph Park, Jr, and
Samuel II. MacLean. The Subscription Committee
consists of J. " Peck, William Matthews, DIR. j.
Cockey Jasper Il. Corning, Alexander Taylor, A. ].
Penfeld, j. NJ. Masterton, Cyrus w. Field. Charles
Lan1er, William GarrlSon, "A. MacMaftin, IL. B
Brown, L. X MacLcan, Samuel L. Machem, L. H.
Watrous and W. A.. Seaver.
The Allotment Committee empowered to rule
out the applications for stock OF all persons who
they judge have an animus against the road, and
will give a proportionate amount Of stock to all
those who are friendly, to make sufficient
capital to build according to the estimates of the
gineer. Mr.. MacLcan said the road was to be con
structcd on economical principles. but at the same
time in the most solid manner The rails will be OF
Steel and the equipments and appointments will be
perfect. At the meeting on Wednesday he expected
to have the engineers estimates for constructing the
road and he said that the subscriptions received
would be considered ut that time.