New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-10-22
THE NEW RAPID-TRANSIT PLAN
HOW CAPITALISTS LOOK UPON 1T.
,oME THINK IT WOULD BE A PROFITABLE IN


vEsTMENT AND OTHERS DON'T.
The REPORT of the Rapid Transit Commission was
laid before the Board Of Aldermen yesterday a1 's
special meeting and copy was also received Ny inc
MAYOR TIE Alderman postponed us coh s'uei"''o"
until Wednesday October - 80 .
Nayor Grant said that he was we'll pleased Win the
.no+ and Thought that IL indicated that the Commits
oner had given most sudiOus attention TO inc heeus
~ the city, They had been actuated by one mo.iVo
only he belle ed and thst was to present peieo'
nlap NJ rapid transit. Tie Mayor added uae no
understood that the system proposed was
r.caIved by capitalists and railroad INVESTORS nc
os ,ot however prepared to give the abors OF INC
Co,mis.oosrs hn Oficlal approval. lie wouio fo-
servo aov sxures,on as to the advisabnlty OF adophs
the system they had devised until ne shouiu oe '"'
10 act upon II in his Official capacity -,.
Is there any increased hope for real rsplo trahs.
now that the Commission has reported or VIII 1he
whole business DO droppeo ID S"o'' -" Wv
Oyeri' he asked . -,
rba Maxnr repIed that he considered the prospect vi
roedIate action excellent and that his best enorls
should be given to the solution OF the prooeni iO'
with. ,,,.u etn.o, reoarting
the plans The document published Is Oh Uhe MN GO
sacI men usually digest in the evening at their nrc
sides While approval was generalp eApro''.u .ho
the sneaker was not interested In exsIihg ~
ostion NJ cost WAS one which caused conserVaus" III
tn exnresson OF opinion J. Perpont Morgan was
asked Tor his view Of the report. haven't raa ~
10 renlIed adding with grim smile, We are IN the
babit of dividing work up in TINS ohoe ""'0
asked Mr.. Spencer to read the report for me-
"wu Won let Mr. spencer's opinion stand for yours z!
was asked 49,. . ho loft tbe
Certainly responded Mr.. Morgan as he lett 'ne
room. A.. -, nrevoI
J. Hood Wright, a member OF the urn OF D''A''
Morgan & Co., said:
"The plan Is big one" .,
aft NAV he big and vet not be good" was suggested
"oh II it comes to that responded BIZ wight
think it is an excellent plan. The only question Is 40
IN the raising of capital to carry it out. DON want
70 express an opinion that, but don't beneVe Sou
will ride on the new system in few weeks
Samuel Spencer who is one OF the COMMISSIONERS
and who was sitting near said In reply 10 d ques'io"
as TO the cost That is impossible at tns sase Vi l
matter TO make any authoritative esumite oi. OH'
no, 1t would not reach SlOO,oOo,ooo' housS or
nroximating It, the cost may be S30OO0OO per mile III
the thclty settled parts Of the city and SlOOOOoo III
the INNER part of the route, and the mileage wou DC
about the same as that Of the elevated roads' A"a'
estimate of course does not provide Tor eQuFmeh'
is far from being impractcable for capta 10 carry OUT
J.sse selignan is SUI in Europe James selsmah
said after some hesitation: think the pan Is sou
one and believe capital could be secured lot ~. Inv
city IS growing and 1t certainly needs these fachueS
The cost would be great but the eapita cou De dSeu
and the investment would finally pay
Russell sage was loath to speak on the SUBJECT as
he was interested in the Manhattan lie finally sara
" do not see how any intelligent man could be Induced
to out money into such scheme when the existing
system Is safer and healthier and fills all requirements
The present system gives comfortable tiaVet agu v
tscs prove that IL i safer than riding in ones own
carriage Who would wish to go down into an atInos.
nhere which must be suTchaTged with the gases tlat
poo the entire soil as is shown by the flames that have
been started by the application Of match to the gsS
,t~,a
Ma ON rosd sixtean feet above than one sixteen
feet or more below the surface. | consider the plan
impractcsble for | cannot see how any conservative
man would want to put money In It,"