The New York herald., 1879-03-17

annual income OF SloOOO the public charged NO
BY accepting the offer above mentioned of Thomas pa
benefit and derivs under This rSso
n,ed BY being charged
Hsw With suoh propositions before you the privilege
corded in he under confederation onld have
Sab m 9n iee from ss M e
submitted for my examination and caunot think that the
their rights therefore return the papers reconsider
Snss On the nps s more o the
which have ''~ sense fn ss@p
THE PRESENT PROPOSITIONS FoI FRANCHISE.
The Board of Aldermen have now before them two
bids for the right 70 construct railroad on Broad
way. One bears the names of August Belmont,
William H. Appleton. Heron Johnson and others.
and the other is signed by John Sloane Pierre Iorii
lard, William Barton. A. Stout and their associ-
ates. Both of these rival associations. or by
whatever name they may be called have
if 70 sser shoa resolve 2. te
derman Morris, who introduced into the Common
Council resolution giving August Belmont and his
Broadway. said yesterday. in conversation with
reporter that il the gentleman who made the offer
published in Sundays HERALD would agree to all he
had promised. and to what was agreed TO by Mr. Bel
mont aud his friends, he would willingly Introduce
a resolution into tho Board of Aldermen giving
him the franchise. The Alderman further said that
he authorized to say for Dir. Belmont and others
that the latter would also support the gentleman
above alluded to If he kept to his agreement
HOW TO BUILD BROADWAY RAILROAD AND
WHO SHOULD BUILD IT.
To THE EDITOR OF THE HERALD:-
As representative OF Broadway property. and
having conferred with other owners of Broadway
property who favor the plan. desire to submit
through your valuable paper tho following plan for
constructing railroad said street. whereby each
property holder and the city. for what property it
controls, will be party recipient OF benefits ac-
cruing from said road. proportonate with the
amount of property they represcnt:-Thcre arc
about one thousand lots of twenty-five feet front
each on State. Whitehall street and Broad
way, from South Ferry to and around Union
square. To construct double track road
from Seventeenth street to South Ferry
by contract) would cost-say about 5000 900 (Which
1 think is hlgh). Permit the owner of property
to pay for tho single directly in front of
his property and for such outlay he to receive ten
shares OF stock OF the company for each twenty-five
feet OF track built paid for by him, which would
not exceed $3.50 per lot. The company to be formed
and stock distributed follows-150o0 shares capi
tai stock 90 Of e., company, at sloo par value, per
of the i.o0I pieces OF property. provided the
owner Of property pays $3.50 for building track
producing sa5o,OOO; ton shares for each Of the
eighty-fve lots owned by city in park. City Hall
square. &c.. to be given the city. $4,000; ALSO
shares. balance together with stock representing
property whose owner will not pay the $3.50 for each
lot to be sold in lots of 100 shares to the highest
DlCQel, from among the members OIL the company
the cash thus derived to so for laying the tracks
cross streets. BY park, &C., build cars and equip
the road said Also shares will bring not less than
seycnty-hve cents the dollar. S31l. .250 $4,000
shares by this plan producing s56 49, or moro for
building and eguipping road other lines OF cars
running on tracks to pay for privilege.
The reasons why this plan should be carried out
are-First, Broadway property is taxed enough to
warrant the owners of property to have this road
asght relief second, it franchise is granted to few
or cliuqe, or either the Fourth avenue broadway
and Seventh lines their interests will cause
them to neglect others by looking after it and their
own to the injury OF others property. by only half
cleaning and taking Of the street--such is the
case with all roads in operation.
ThirAn the through roads patronize the
tracks OF the company the proceeds from such
right will pay their portion for keeping street in
good condition. Fourth--H the city gets million
Tor franchise. grants it to any Of the applicants
now in the field. who are those applicants bound to
they please ? Fifth-f this road is such a
bonanza Broadway property owners might as
porations. or to allow political friends to run
their fingers through cool million and call it the
w. ". A.