New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-05-02
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 NewYork, OF vast and underlined
claims by OF property AUDITING on streets fr
damages p:ovlded for In the financial plans
OF the companies and The dsputng which has created
much popular prelufce is eliminated in the plans Of
this company by tho simple and expedlent Of taking
in the ordinary way all needed real estate, with due
compensation TO tie owner
The portion OF the railroad under contract for
immediate construction begins at Van Buren-st near
business centre Of the city runs due south for nearly
miles, adjacent Safest and Wabash and Michigan
avea (Which may be iikened to Broadway F1fth'ave
and MadsonaYe the city OF York;. to the present
southerly limit the city OF Chicago and thence fof
four miles through the pOpuous and growing suburb
OF the city.
The grant by the city Of Chicago TO this corporation
liberal In Its provisions 10 the route authorH
and as TO the tight Of company by purchase or con-
dempaton to secure and own right of way, and is
accompanied by well-cOnsidered conditions which insure
to the city the mos approved form Oh
elevated structures both for safety and peimahehec anu
the latest and best mode equipment and operation IL
was passed with but dissenting vote, and recei'eu
the prsmpt SIGNATURE and approval OF the Mayor
value Of tho securities OF Chicago Guy railway
companies furnishes exception to the genera rune Vi
the value Of similar securities In other large Clues
In fact IL may be safely said that such ~ ,ures nave
offered better opportunities of Investment thah ~O''
OF any other city In this country l.,
As an Illustration and by means an exceptional IN
stance the present stock Of the City Cable Company Oh
Chicago and South Side Rapid Transit ha"
road Company parallels and divides Is no"
selling AZ over three hundred dollars per share the par
being one hundred dollars (s1o0, and the total Issue
a OOO COO Its corporate notes or deheaIues aggregate
sG 600 600 or these 81 900 have been Issued inc
last issue OF 900 600 bears interest al per
cent and now sells at 90 per cent
The grant 70 Chicago and South Side Rapid transit
Railroad Company permits 1t to build and operate three
tracks II is intended present build two OF such
tracks rcseryng building OF the third for time when
the demands OF rapid transit shall require additional fae
ties.
IL is difficult oycrestinae tho value OF this thiru
track for the travel busiest hours In the morning
being I'm one direction and In the evening in the opposite
direction the tracks will do substantially the SER
vice which would ordinarily require four tracks
1t is well understood that II to-day the New-fork
elevated roads had right aud operate
third track requirements OF rapid transit In that city
would be solved for many years TO come.
The total amount securities be issued upon the first
section (sbout eight miles) is as follows:
1000 shares OF capital stock, Of the par value
T. 500 irst mortgage G per cent gold sinking
fund 40-ycar bonds {; the par value OF
81, 900 each 100000
OF the above the undersigned Offers for account
Of the Construction Company $4,000 shares Of the Capital
Stock Of the par value OF e1O0 EACH and 500 OF the
First Mortgage per Gold Bonds OF the par value
81 900 EACH which books OF subscription Will be opened
on the 9Th May and closed Tuesday the Sh Of May
at the following places: