New-York tribune., 1886-05-05
THE ARCADE RAILWAY PLAN
WHAT THE BILL AS PASSED PROVIDES.

! it either to-day or tomorrow.
/ The New-York Arcade Railway Company in its pres
ent shape is the outgrowth of the Beach Pneumatic
Transit Company created by the Legislature of 1873
and of the Broadway Underground Railway Com
panv' into which the first organizatieA was merged
year later The primary obect Of thr Beach pnermaic
enterprise was TO lay tubcs by intricate system all
over the city ansmit and merchandise,
such as the Western Union Telegraph Company has
now in operation from it, Broad way Office to is up
town bnling at Twenty -third-s and Fifth ave This
scheme developed into the plan 10 build an under
ground passenger road from the Patery to some point
| on the Hudson River Railroad with branch from
Madison Suuare through Madison-age. to the Harlem
River The charter of the company IL that passed IN
1873 great deal OF time was occnllsh ID engineer
ing expcrments and street surveys and IL overcoming
the objections of Broadway properiy-owhef'. "heh
Gr,v the company got condition 70 build Its road
# fouud that il needed number OF additional eEsa-
tive permits. The result cf its experiment. ana sur
vevs setted TO its satisfaction all doubts OF an en-
cineeripc character but other facilities than those
| covered IN the charter were inperatveiy needed.
Every successive Legislature has been bothered with
The Arcade scheme Melville G. Smith, lis president.
with his small army OF lawyers. engineers and friends
on the enc hand and o. B. Potter. A. p Man and the
rc adway real estate pec0e en- the other nave fought
and contended in speeches and pamphlets drawings,
y
blv seuatc ana Governor the profound weariness of
them all The Arcade people have been beaten only
to come up scain anG they 70 have gained
strength financial and otherwise with each renewal OF
the controversy
The plan which has at last taken form authorizes the
! company 10 build an underground railway from tie
Battery through Broadway to Fonrteenth-st. across
Onion Square to broadway again and thence on to
Filty-niRth-st-at Madison Square a branch Is
authorized to be extended under Madison ave. to
Forty aeconG-s This is to constitute the first sccon
Of the road and must he finished within five years II
the work ia interrupted by litigation, the time Is ex
tended twice as long the delay The line completed
viii 90 from Fifty -nnth-st point on the hudson
River IA rosd 10 ne determined by the Board OF En-
cneerinr Commissioners and from Forysec )ud-st to
/ the Harlem. 1t is even thought that the line VIII
finally cross the Harlem. along the proposed new
parks and end by making circuit at the Junction with
/ the Hudson River. This. however, Is an alter
purpose aud Is not IN the bond. The rest OF the
road ~ REQUIRED must be built within three years after
the FIRST section is finished. Inc company VIII be
managed by fifteen directors. The present or1aniza-
tion is pn1ey temporary In a few days the organiza-
ton meeting the stockholders will be held and the
/ director. CHOSEN The stockholders share all the
liabilities imposed by the General Railroad Act. The
company is allowed orty-four feet under the surface
fl insists that this Will give plenty OF room and that
plepty more will be lett for the ctys Use and tor
nriyats vaut, and cellars 1t expects encroach but
slightly upon private property. Travel must not be
/ prevented while the work III progress temporary
bridge TO be constructed over all places when the
work is going on The opponents OF the bill maintain
taat thi. all bOsh ana cannot be done and that the
vhole .tre.t will be forever blocked. But the
/ pany has ssued fine pictures showing handsome
! bridge with prancIng horses and hurryng thr1n =
upon IT covering the below. where itS workmrh
a
/ Will be-
mower not emitting smoke or cinders. he tracks
OF surface roads he protected aud safe iounda-
lion Tor their rails provided Ire sewers water gas
and steam pipes and all tubes coat lnng wires u com
muncdton must be grouped mo vaults ana suO"ats,
bnilt of brick iron and open for entrance at every
quarter of a mile distance. This must cost NOT less
taan @4OO 600 mile anI must he krpi awaES ~ W re-
! pair bg the cOmuany. II II arrangement ~ really
strong point in the bills favor Tor CITY "oud soon
{ have had to do the work at its own e1pense.
here will longer be necessity Tor tearing up
the street lay repair pipes aud the vaults ana sub
ways are the citys property W here private property
invaded il must be PAID for and no private agree
ment as to comper satOn can be reached, II must be
fixed 10y public aDpralscment as decided upon III lne
| original charter Exits. entrances ana drp'ls are
nrov,ded for bat no side be taken for anv
! purpose The capital stocs Is hxed AT Zo.OV"oVu.
IN 30 600 shares of 100 each. and the Board o III
Tecfors are allowed by two-thIds vote 10 zorro"
such OF money a. may tie necessary LOT con
structing. completing or ope atlng tne roao' anu 10
Issue bonds the loan without tue coDsehl o s'ocH
bo.ders. It's mortgages must be recordeu ss mort
sre OF real estate
Tbcse provisions together with a section requiring
the company 10 its boEd, already given 10 the
CITY for 90 900 a. a guarantee that the work VIII
be done and another requiring y 10 give Il sec""u
bond to the Mayor trust officer Of not less man
$500 900 nor more than OGO 600 10 insure the ely
and real estate any damages inflicted hur-
ing the process of construction. composed he measure
| as II was submitted to the Governor Aiter nearing
all parties concerned Mr.. hul Mtlmated 10 the com
| pany that he could not sign the bill without some
| changes. At his suggestion IT was rcaIleu ana
number of alterations made. The limits OF the ndeih-
nlty bond were increased 10 from SZ.OOoOOO l"
SO 900 900 in IT. treasury before 1t can begin lt7
WORK The most important amendment requires 'hat
the company shall annually pay the city per cent
ot its gross earnings. I be Governor Is empowered
70 a,,noint new Board of En- ngneering Commissioners
TO sipervisc the work and the Legislature reserves
the right repeal modify the act as IL may see III
hereafter The good faith OF the company was irS'en
/ in its agreement to these and over dozen minor
| changes and requirements. IL accepted them freely
The following interested As stockholders and
control the enterprise
Levi Motion. of Norton Bliss Cornelius ~ Bliss neI
chant George president OF the AnecAn dehanse
Bank Charles smith. merchant; Henry SANFORD, VICE
porter OF Ceci railroad director ana ner
chant fTea III HSyI p,sr ISdc Arthur cafM nef
chant John Gia'R s r. r ~ nn hercane
a,eIcv r. = Iunpinr 'rwyer William Window. evSecre-
tary nea states Treasury, Jerome fasser OF the Cham
icor and president G1an nited states Treas
Robert sehe president tne san G g n1nk T
Warson president Of the Bank OF o um aa Mis- cap
KoDbns merchant Theodore Rogers of the LanA OF the
Metropolis
1t cannot yet be ascertained in what amounts these
men Interested. None OF the capital other thah
thar which has sustained the organization II yet paid
/ in The road expected 10 cost not less than
81 300 900 per nile. The question of fares Is LETT III
the a future determination 5y the Legislature.