The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1891-07-23
More Than Enough Stock
Taken andsMoneY Paid
10 Begin With.
EX-GOVERNOR PRICES ADDRESS.
A Wealthy German Brewers SYM
dicate Subscribes Most Of the
Of the Funds and Work
Will Begin at an
Early Date.

The final meeting of the Commission
ers OF the New York and New Jersey
Bridge Company Of New Jersey was held
at Taylor's Hotel. Jersey City.
The special COMMITTEES appointed
by the Commissioners TO open
books of subscription was received. The
reports states that the books Of subscrip-
tion to the capital stock were opened on
July 20, at Taylor's Hotel, ana were kept
open during banking hours July 20, 81. 2.
and ed That more than the amount OF
stock required by law to be subscribed
for the purpose OF organizing said COM
pany was subscribed and more than the
amount Of cash required by law to be
paid thereon was paid to said Comrnis-
sioners. The Commissioners accepted
and ratified the report, and directed that
the books Of the Commissioners be turned
over 10 the New YORK and New Jersey
Bridge Company when organized
GOVERNOR PRICES sPEECH.
The venerable Ex-Governor Rodnian n.
Price. who il one of the Commissioners.
made an address in which, among other
things, he said
81 am probably in point Of years. one
Of the Oldest members Of this Board. and
as you well know / have been for many
years identified with the State Of New
Jersey in public matters. 1t is with 8
AA0NlIZ sense tA Qfl4Ac tlat C8lAk- LLIt48H1
the auspiclous beginning OF the great
public enterprise with which it has been
our fortunate lot TO be identified Is Com
missioners-
| hold that he who enables man to
travel over more space in shorter time.
has increased the measure OF his allotted
three score and ten years. increased the
SUN OF his possible usefulnes and enjoy
ment, and become as true benefactor OF
the human race as the inventor OF the
Steam Engine, the Cotton Jenny or the
Telegraph. / am proud OF our grea1
country, proud OF the great city just
across the water and OF our own great
city with its intricate network OF rail-
ways the veins and arteries of our great
country. increasingly throbbing back and
told tons OF freight 70 the great heart OF
America. destined to me the Metropolis
of the world.
ave can almost remember the time
when by boat and stage coach. with nu-
merous changes and relays. stoppages
and delays, the slow and painful journey
was made from New York to Washing
ton, have seen from those small begin-
nings, the commerce and travel of a ma
tion OF sixty instead Of ten or twenty
millions developed and accommodated
And. gentlemen, the keynote of ali fhe
improvement in transportation that We
have witnessed has been the substitution
OF the railway for first the stage coach
and then he boat
But in all this substitution Of the
quicker for the slower transit New York
city has for years been backward She
alone. of all the cities of this Continent.
Is not thesterminal of the arteries that
bring her life blood. The ferryboat, with
its change from the car to boat. its
wait in the slip, its delay in crossing.
ana its deposit OF IT'S passengers on the
extreme western edge Of the great city,
with the further change to horse ear TO
get TO the centre, involving the loss OF
over half an hour Of each passengers
tine, and no end of crowding. change Of
vehicle. and annoyance remains the in
adequate and unsatisfactory means Of
travel it was one hundred years ago.
FORTY MILLION HOURS LOST A YEAR
1T has been estimated that eighty
million passengers pass annually 70 and
fro over The Hudson River ferries. Mui-
tlply half an hour By eighty million and
you have forty million hours lost year.
or over one million six hundred thousand
days of time annually lost TO our suburban
travelling public. Decrease this time
one-half ny bridge and railway, ann we
have saving to that population of eight
hundred thousand days in eaeh year for
work or amusement, as they elect, instead
of travel
When 1 contemplate the tremendous
| impetus which the shortening Of time Of
| communication by the elevated road has
suburbs; and then consider the enormous
| volume of freight and passenger traf1ic
now seDarated from Its goal by one short
mile Of difficult and dangerous trans
| portstion. | cannot but believe that
/ in organizing this bridge company We
are the humble beginners who have laid
/ the foundation stone OF monU-
ment destined TO attain national import
anee. This bridge is the missing
/ Link in the chain Of communication be-
merce, and can only say that an glad
| it has been my good fortune TO be con-
nected with an enterprise of such trans-
| cendent importance and merit.
My best wishes go with those who
] have embarked their capital in this great
enterprise and. believing the WORK can
not fail 70 be Of lasting benefit 10 our
whole country. predict for them hand
some return upon their Investment pro
portioned to the great need for snch an
Improvements in the traffic facilities now
existing
WHERE THE MONEY CAME FROM
The Commissioners .decllned 70 make
/ the details Of their proceedings public, or
i TO give the names OF subscribers, and par
/ ticulaIs relating 10 the subscriptions.
stating that they refrained from doing 80
/ by the advice OF Counsel, who advised
that it was not within their province TO
/ make public any particular respecting
I the subscriptions, but merely to re-
celve all subscriptions offered, ana sums
paid thereon, and when rhe amount re-
quired by law had been subscribed TO,
/ close the books. give notice Of the meet
4 ing TO organize the Bridge Company as
required by law, and to turn over sAe
cash, books and papers 20 the gompAry
when fully organized: and that such par
ticuiars could only nroperly be given nv
| the authority Of the Stockholders Of the
/ Bridge Company.
A meeting of the stock holders for the
purpose Of organizing VIII be held az an
early date, and 1t Is the intsntfon or The
l Company, as soon as the organization Is
/ effected. 70 put a corps Of engineers in the
field TO complete the surveys being made
OF the river
Il is learned shat the larger portion Of
1 the subscriptions made to the stock
has been made by syndicate composed
| largely OF the wealthy German brewers
Of New York