New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-05-04
No similar right has ever be-
fore been granted by the city OF
Chicago.

That element which has proved 80 dangerous 10 the
elevated railroads OF NewYork, Of vast and underlined
claims by owners Of property abutting on streets iof
damages not forsseen provided for in the financial plans
OF the companies and the dspung Of which has created
much popular prejudice is eliminated in the plans Of
this By the simple and just expedient Of taking
in the ordinary way all needed real estate, with aus
compensation TO tie
The portion OF the railroad under contract for
immediate construction begins a. Van Burenst, near
the business CT city, due south for nearly
four miles adjacent satest and wabash and Michigan
ayes (Which may be likened 10 Broadway. F1ithave'
and Ms1lson-aye in the city OF York; 70 the present
s0uhery limit OF the city OF Chicago and thence ior
four miles through the populous and growing suburb
OF the city.
The grant by the city OF Chicago TO this corporation
Is most liberal provisions to the route authorized
and 10 the hight OF the company by purchase or con-
demnatOn, and own its right OK way ana 10
accompanied by weconsdsred conditions which insure
to city the the most approved form OF
elevated both for safety and permanenee anu
the equipment and operation IL
passed with but one dissenting vote ana recei''
the prompt signature and approval Of the Mayor.
The value the securities OF Chicago city halfway
companies furnishes no exception to the general RUE OF
the value Of similar securities In other large clues
In fact It may DO safely said that such securities nave
offered better opportunities OF Investment than 'hO'
OF any other city In this country.
As an Illustration. and By means an e1ceptiohai IN
stance present of the City Gable Company Oh
Chicago, whose lines the route Oh une
Chicago and South Side Rapid Transit Nail
road Company parallels and divides Is no"
ng at over three hundred dollars per share the par
being one hundred dollars s100, and the total Issue
81 OCO OOO It's corporate dcbentures aggregate
SO 10000 or these a. 100000 have been issued the
last Issue Of which s1000o00) bears interest AZ per
cent and sells az 90 per cent
The grant 10 the Chicago and South Side Rapid TRANSIT
Railroad Company permits It build and operate three
tracks /. intended present build two OF sueh
tracks reserying building OF the third for time When
the demands Of rapid shall require additional fac
ties
1t is difficult 20 overestlmate the value or ths tara
track for the travel the busiest hours In the morning
being in one direction, and in the evening In the opposite
direction the three Will do substantially the ser
vice which would ordinarily require four tracks
It. ia well understood that II to-day the New-Yorh
elevated roads had right construct and operate
third track requirements Of rapid transit In that city
would be solved for many years 20 come
The total Of securities TO be issued upon The FIRST
section tabout eight miles, Is as follows:
75 900 shares Of capital stock OF the par value
:. 500 nrst mortgage per cent gold sinking
Al 600 each 100000
OF the above the undersigned now offers for account
OF the Construction Company $1,000 shares OF the Capital
Stock OF the par value OF slcO each. and $500 or the
First Mortgage per Gold Bonds OF the par value Of
al 600 each for which books Of subscription will be opened
on the 5h OF May and osed Tuesday the Sth OF May
a. the follow Ing places: