New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-03-31
UNDER BROADWAY.
RAILROAD BILL REPORTED FAvoRABLl

iFRoM THE REGULAR CORRESPONDENT OF THE rRBUSE.I
ALBANY, March 3O.-A tall man Of noble bearing,
with silvery gray hair and mustache, beneath
which the lips seem to be constantly smiling, has
lately day after day been present at the sessions OF
the Legislature. There sits by his side sleek and
shrewd-lookng man Of medium height, clad in
smooth black broadcloth Of a somewhat clerical
cut. This man is no clergyman, however, but Mel
vile C.. Smith, the president Of the Broadway I'M
derground Railroad Company, and his companion,
the man with the gray hair, is Gilbert c. Walker.
Ex-Governor Of Virginia, now resident OF TINS
State. Mr.. Smith and Mr. Gilbert desire to put
railroad under Broadway, New-York, and with this
object in view for two months past have been en-
deayoring 10 get bill through the Legislature
extending and suDplementing the rights, powers
and duties heretofore possessed conferred and I'M
posed upon the Broadway Underground Railway
Company
In this purpose they have been stoutly opposed
by many of the property owners along New-forks
noble thoroughfare. Among the property-0wners
who are opposing the bill are James NJ. Brown,
William Dowd, William Il. Dodge, Jesse seligman,
f. S. Winston, president of the Mntual Life Insur-
ance Company; George f. Baker, president OF the
First National Bank; Amos r. Emo Orlando b.
Potter, as trustee of the estates Of Edward and
Elizabeth Jones; the Trinity Church Corporation
Mrs. A. T. Stewart Henry Hilton and George Pea
body Wetmore. Week before last O committee
representing these persons appeared before the
Senate Committee on Railroads and MADE argu-
ments against the bill, showing the great danger to
buildings on Broadway if an underground
railroad should be built beneath the street and the
interruption tostreet traffic that would be caused by
the work Of constructing the road. Yet the Rail-
road Committee, after weeks consideration OK
these arguments reported the bill favorably. This
do an a1p sf
dered printed The printers completed their work
yesterday, and property owners can now obtain
copy of the measure by sending to the Document
Clerk of the Senate or Assembly.
now TIE ROAD is TO BE BUILT.
1t is Senate bill No. 337. A short SUMMARY OF
il may be of interest. Whether from special inter-
est in the subject not the projectors first discuss
In the bill the methods of issuing stock. They state
that "the directors of said company may issue,
upon such terms and conditions as they shall
deem best, the shares Of the capital stock
of said company from time to time
at not less than par for money, and in payment for
money due by said company, and for rights, mate
rials labor and property for the purposes
of said company" Apparently the contractors who
are to build the road to be paid in stock. Per
mission is given TO the company TO "excavate for
its road-be the earth between the outer lines OK
the sub-surface sidewalks of not less than sixteen
feetr; in other words, TO dig mp the roadway OF
Broadway to a depth of sixteen feet while construct
ing its roads. The Legislature has beon showered
for weeks past with an illustrated newspaper con-
tanning an illustration of Broadway undergoing
this upheaval-but of course interruption to
travel on the street is confessed in the pctuie. On
the contrary there a temporary roadway over the
excavation and tho innocent-minded dray-horse
is depicted ambng gracefully across the structure,
unaware of the awful depth beneath its feet where
labOrers are undermining the foundations of all
things.
There are provisions also which show that the
company dreams that persons will seek the secn-
sion of the excavation for an afternoon walk; pre-
fering to be in sight and hearing of the swift trains
that will rush through the tunnel-liSe place TO
walking in the open air in the sunlight. The COM
pany however will reserve certain sections of the
sub-surface walks for their depots, together with
seventy five feet additional thereto npon each side
of any such depot station"
INVASION OF OTHER STREETS.
The 6fth section apparently gives the company
the extraordinary right TO occupy adjacent streets
as well as Broadway while excavatiDg that
thoroughfare 1t states that =" the said COM
pany. for the purposes of removing
and receiving the materials necessary to
be removed and received while constructing its
works, shall have the right to construct and use
tramways for such removal and reception upon, aud
TO make all necessary excavations beneath any
street crossing running from any street crossing,
or running from any street, avenue. square, pub
lie place above any part portion of It's roadbed"
The company is moreover given full power and
authority to remove all sewers. water, gas, steam
and other pines as we'll as all wires tubes, and
other obstructions the work of the con-
stluct ion of its road-bed and of the sub-surfsce
sidewalks OF any part thereof"
TINE OF CONSTRUCTION.
The bill makes it the duty of the Governor to ap.
point three commissioners who are TO supervise
the work of construction and that properly
performed This board of three commissioners is
also to learn if proper financial arrangements have
been made for the construction of the road The
act declares that the board shall authorize tho
work of construction whenever the SAID company
shall prove 10 said board that the full amount Of
the capital stock of said company, or suthcient
amount thereof, has been subscribed, or other n
nancial arrang gemonts made for commencing within
two years and completing the first section OF its
railway or railways from the Battery or Bowling
Green under Broadway TO Forty-seeond-st within
iiye years from ana after; after July :; issa sas.
legal proceedings shall delay any portion or the
work. "dOUbie the time so lost shall be added 10 the
time allowed in this act for completing said first
section; and any bond which shall have been here
tofore executed and delivered to secure the compile
tion Of said first section Of Sald road sai be consid-
cred 70 said company on its execution and delivery
of o new bond in lieu thereof for the amount
and of like tenor and effect except 10 time foI
completing the first section of said railway Ap.
parenty the company anticipates good deal Of lit
igaiOn. Ii is eyiden too that the company by
pretended hostile suits could gain good deal OF
time for the completion of its road aud practically
keep Broadway in a disturbed state eDdiessly.
Would also bo1dhclders patiently submit TO q per-
petual call aud recall of t!1eir bondsf
FINANCIAL MANAGEMENT.
Great latitrGe is permitted the directors in man,
aging the financial part of tho concern. THUS Sec
tidn II confers the following unrestricted powers;
The beard OF directors OF sand company shall have
power by q three-hfhs vote. from lime to tine TO bor-
row any OF money they may deem necessary for Its
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