New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-03-03
THE RAILROAD IN BROADWAY.
SECRETARY wHIrNEYs RELATION TO IT.
HE WRITES A LETTER TO THE CHAIRMAN OF THE
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| HE WRITES A LETTER TO THE CHAIRMAN Oh. THE
SENATE RAILROAD COMMITTEE.
WASHINGTON, March 2.-Secrctary Whitney
to-day sent the following letter to tho chairman of the
Senate Committee of the NcwYork Legislature which
is investigating the Broadway Railroad matter
WAsHISGTON. March ., 1886
Hon. HESRY r. Low.
take The liberty OF addressing this note to You
because you are chairman OF the committee authorized
TO investigate the methods by which tie consent OF the
Board VI Aldermen obtained TO tho construction OF
the railroad now upon Broadway, and because the
public press has than associated my name
with the subject your Inquiry IL is perhaps az lneY-
table penalty Of holding public Office that any assoca-
tou however honorable, With transactions or persons
thereafter subjected to public obOquy should be made
occasion for Misrepresentation, and therefore de-
sire to enable everybody who wishes to do to form
correct judgment to my connection with these mat
ters
Mr. James A. Roosevelt, MI George Henry Warren,
M. George G. Haven, Mr.. Braytou Ives, myself and
other citizens Of New.YOrk, directors VI COM
pany which had promptly awaited itself Of the General
Street Railroad law OF 1854 and the first company
10 lay claim to II railroad from the Battery 20 Four-
tecnth st. In behalf OF our company laboreG ear
nestly prevent Sharp and his associates OBJ
tanning the consent of the Board OF Aldermen. We used
all proper means at our command to make this opposi
ton eGcctuaand we streuuousy insisted that the pryl
ege should be sold public auction to the highest bid
der When these efforts failed appealed TO the Mayor,
vetoed the ordinance IL passed his veto.
We then attacked the validity OF the resolution,
and as VIC had right of action ourselves,
furnished legal aid prOpcctyowners for the purpose
| Subsequently, in Difference to pablo sentiment,
aroused IN great degree By efforts, Mr. Sharp and
his associates abandoned the resolution and procured the
passage OF with conditions favorable to the
city conditioned upon annual payments based upon
valuation of million dollars or more for the fran
chse. Some aferward parties from Philadelphia
informed that they arranging for leases OF the
lines in Broadway and Seyenth-aye and intended TO
lease other lines, and thus, By introducing economy OF
and system oitransfers secure at the same
better from the properties aud greater ac-
oommodatons for the public. Tney proposed to US to
abandon attitude OF hostility and take part IN the
enterprise, which proposition was accepted by
a largo majority OF our stockholders, including
myself, and by majority in interest OF
the stock excluding II was in the line OF what We
had been advocating In the public interest We had
protested against grant OF Broadway without cond
tons providing for general transfer system appca
bic IL subsequently discovered that the lease
could not obtained ana the Philadelphia parties pur
chased controlling Interest IN the stock by the con-
recently made public OF February . 1851 IL that
contract remains ia force ami the stock Is taken under
it, It Will cnnblc the purchasers II they 1T to do 80,
to carry out with us the agreement they maze when
thcy expected obtain lease OF these roads II wll
involve Agreements, however on both Sides
haya, however no interest IN the purchase recently
aud investment in nor comuit1l TO their gen.
cTal enterprise.
Prior 20 tho disclosures made on this Investigation
looked upon In the public Interest, and II II hai
taken shape satisfactory to me, from business stand
point and at a time when felt at liberty 10 join It In
view OF other Investments and duties should hayed
so That my exact relation to II. What effect this
investgaon may have upon IT, ana whether shall ever
Join IT, open questions FOR ns Tor any one else
fmy connection with the transactions have mon
toned any respect Opon to Just criticism, am not
aware OF t. Respectfully yours, W. {. Whitney.