New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-05-01
No similar right has ever be.
fore been granted by the city Of
Chicago.

That element which has proved dangerous to the
elevated railroads Of New.York Of and underlined
claims by Of property AUDITING on streets ior
damages not provided for In the financial plans
companies and the disputDg OF which has created
much popular prejudice, Is eliminated In the plans OIL
this company by the simple and Just expedient OF taxing
In the ordinary way all needed real estate, WIFE aus
compensation 10 he owner.
The portion OF the railroad now under contract Tor
immediate construction begins Van Buren.st. near
the OF the city, due south for nearly
four miles, adjacent Safest and Wabash and Michigan
aves (Which may be likened to Broadway. FithsVe'
and Maaisona7e the city OF Now York; to the present
southery limit Of the city OF Chicago and thence ior
four miles through the most popuous and growing suburb
OF tho city.
Tho grant By the city OF Chicago to this corporation
is most liberal provisions the route authorized
and as 10 the tight OF the company, by purchase OF
dcmnation 10 secure and It's right OK way, ana -
accompanied by wcconsIdered conditions when hsa'.
to the city and the most approved form VI
elevated both for safety and permahehce anu
the latest and best Of equipment and operation
was passed but dissenting VOTE and reeci'cu
the prompt signature and approval of the Mayor
The value Of the securities OF Chicago City Railway
companies furnishes exception TO the gehefa ruo "
the value OF similar securities In other large Clues
Tn fact It may he safely said that such securities have
nered better opportunities OF investment than thoso
OF any other city in this country -, &,
As an illustration, and by no means an exceptional IN
stance the present stock the City Cable Company Oh
Chicago and South Side Rapid Transit l'af
road Company parallels and DIVIDES, no"
selling At over three hundred dollars per share the par
being one hundred dollars $780, and the total Issue
Al Its corporate debentures aggregate
90 600 ooo or these O00 900 have been issued the
last issue OF which COO bears interest at per
cent and sells at 90 per cent
The grant Chicago and South SIDE hapd TRANSIT
Railroad Company permits It to build and operate three
tracks It is intended present buid two OF such
trackn reservng the building OF the third for time when
tho demands Of rapid transit shall require additional fac
ties.
1t is difficult overestImlte the value OF this mira
track for the travel busiest hours In the morning
being In one direction and In the evening ia the opposite
direction the three will do substantially the ser
vice which would ordinarily require four tracks
1t is well Understood that IL to-day the New YORK
elevated roads had right TO construct and operate
third track requirements OF rapid transit In that city
would be solved for many years come.
The total amount OF securities be issued upon the first
section (about eight miles is follows:
rs 900 shares Of capital stock of the par value Am
OF 800 each. =. sI5OOoOO
fund 4o.year bonds OF the par value OF
or the above the undersigned ocrs, for account
the Construction Company $4,000 shares OF the Capital
Stock OF the par value 800 each and 500 Of the
First Mortgage per Gold Bonds Of the por value Of
81 900 cach which books Of subscription will be opened
5th OF May and closed Tuesday, the sth Of May
at the following places: