New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-07-23
THE CONTRACT FOR SUBWAYS.
xAvts OF TIE sUHETIEs ON THE BOND
An UNDERSTANDING BETWEEN THE COMMISSION

AN UNDERSTANDING BETWEEN THE COMMISSION
AND CONSTRUCTION COMPANY.
The Consolidated Electrical subway COMPANY
delivered It's contract and bond to the Commission
yesterday. pledglng itself to the faithful perform
auce of the task of laving underground condults
according to the spec lications ADOPTED by the Com
nusslon Commissioners Flower. Hess and Moss
were all present, besides the other officers OF the
board and number of citizens. every seat In the
meeting room being filled. The transaction oil some
singh routine business including the accebtauco
of the resignation of W. j. Seiton the secretary,
accompanied 10y vote of thanks from the Commits
elon occurred the attention of the meeting for
few moments, when Edward Lauterbach, the coun-
sci. and Henry titzhugh the president Of the Con-
sohdated Company. appeared with the BOND.
for the signatures of the Commission
and OF themselves. Mr. Lauterpacn an-
nounced the names of the five suictles whose sig-
natures he had secured to the indemnity BOND oil
$500, 600 H. the order IN which they appear upon
the bona. with some information rs 10 thelr pusi-
ness standing and responsibility they are as ioi-
lows:
Allied sully-Presdent OF the ONO Southern Railroad
Company No. Il5 Brosdwas director OF the Long
Island Railroad. rcputed to be the largest M
I IN - 600 ans Cohu
President of the A. t. Cchu Company NJ" ~ Ma'et
Plat.st and large siockhoder IN sry' RAJ electric 4ht
COMPANIES; worth s25Oooo DHvii r. ia se; "i T 1
incon of Cleveland whoIs one OF the principal owners
OF the standard on Company-ieprrsen'e at at onn
g I"nS HcamPe. Of No. 1l5 soutn.s- OF
y mo'snks ana of several street railroads. and esti
l., lied to be worth SlooOooo. Clinton Beck with. OF
-Eepuied b. wor 100000.
These names and facts having been previously
rohslOtieu Nv 'he Non,I.sS''i 'Ol ap -,
1yIng The suretes bad gone any further IT. EibbenS;
tue coupsci OF the omml son arose ana addressed
WI i-",' - h bad ,one tar IN ms remarks
thai they entirely a surprise 10 Mr. Lauter-
bach who with Mr. Ftzhugh sitting directly be be-
side him listened atfentivcly while they were thus
beng charged by the OmmlssiOn on fne dutles
winch the r company were about to assume. Mr..
CihSnns nrel ared hi remarks bv assuring both the
r.s,nt;was Of he a,onsolidated Company and
the Boarn OF tomhiSsl'pcIS ol tie lnPoI, 'a"'o a.
the outset of thoroughly harmonious understand
NJ G,hhens said m substance:
The present business for which met
this afternoon is fraught with So much moment
.De ComsIs-an and the construction company. that 1t
IL OF tne utmost importnce mat there snou!i Do no
tTct to ad TO- the Troubles when threaten
arise in our worK The interest md OF the Com
plainly bound up In that of the success 0f me
pany. In drawins up contracts - always dlncnt
to provide Tor every ooh'.nseney hs! Nv, ~ ureosIs
ci"ly IN the present instance: "'eI 40 "" ~
s'iNe 10 tu" nd ,na inteni Of The G. ,uuissinn
M & me ,mmnriant points of inns most im porj aut
contract The nr,t clause of the instrument dec.aes
that he party of tie second asrecsto furnish the
capital necessary 10 6ad the snowtys herein eonten
plated, than three million dollars. and VIII oniId
equip man am a 81 operate tne same as i,er
e ih n tSe ms"ey for The consir ton
81 , "a To- ns furnished by the construction
III. nnft At
v"ln'ci and in. work done in every detail, IN every
and Al ecerv time according 10 dictates OF the
Couini and ject al times 1" whsteve atera-
tons ch,ngrs ami eItensiohs the commission may ueth
proper ana me whole WORE o. oD ca9e. ~
uuV''u , -, 10 ,,aray.menf ann rruta Of inc suh.
80 .,',,,,,s ,ynen cr,uurte1 with the construction
cn,np,nv subject Al ali Tines to vi and
by the Comn -On All The latter asks however that
the company shall Xix fair rate and show 10 partlaty
IN allotment of spaces. and III the event OF ahy as
pule between the construction c"upahy az!
tue occupants 9" tne suuMNs NY T, o,na
thal pe many se.e "s sp H ,or an .inilar classes
-, ' W. and he Conmsslon Will NOT tolerate in
Tins rcrari any parflality or monopoly shown
company The Consnidsted Construction company IN
return rely on the fairness OF the commissioners
WI" VII protect IL 70 tue eA'Ht % .".' O.
Wiling mat II should receive ar prom 70 se nv
Oh l.s an ,".t setfi whether Inc present
~ h'1r,oa ndrr Drnnnd must ne removed 10 the new
1850 vhen tnnv are but and a. the Commission's
nowrrs amy only f. operating companies. whether
also the wires Of private ind vdua are be included
In the general removal TO the con TUFTS.
c,, .,, j.; for tho con
Oo'.hae''o i1'ute ,d ;,a+ no wonid have nrc
ti.p Ooinp,' 80 bd to tho ,yord a.
~, ,I ii - -" he yvar nj the work as If
y. ~. ~ 49, oa,;,.,l a. yho MIGHT otherwise
nsi', ~ - ,,n,,Id H., ,IIiTed In r,lse an
49,, ' 10y. 100, o"d 40 c.nIt.I il timId n
, h y" ~, ~, :; o,d he ,forts of thr CON
,,-,n,,a' c,,,, orr In ohtaIn the necessary money
liz ca"n,Sy ur Iauterbach said was restrcte,i
,I ,,,,ant =" ci'arg,ng - oreater snm n mile
nm ,,,r m th. cond,ts than il nov cnsts he oper-
This was said to be vi ME
Pr,i VIZ. -. si,i,",'',, -, th Mr. EitzhunL