New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-11-16

TO ED FOR A FRANCHISE.
WHAT TIE COMMISSIONERS HAVE TO orrER-


SOME OF THE SPECIFICATIONS
As will be seen in another part Of The Tribune the
franchise for the construction OF the proposed rapid
transit railroads In NewYork will he offered for sale
In the rotunda OF the CITY Hail. at 12 o'clock on
December 20, by Eugene l.. Ihlshc OF the Rapid
transit commissioners. The advertisement for the
sale VIII appear three times week. with extra in
sertion until the day OF the auction. All de-
Srous OF obtaining fun particulars regarding the plans
ana specifications are requested 20 call at the Offices
OF the commission. No. - wIam-st.. any day be-
tween now and December 90.
The terms OF sale and the full specifications OF the
opposed road, which ially has attracted % much
ateni In this city during the last six months. were
made public at a meeting OF the commissioners held
yesterday afternoon. They Nil a z cd SID plmphlct
of forty three pages. The purchaser purchasers
VIII have the right, privilege and franchise to con
struct, maintain and operate" the railway for period
OF 900 years. The route. beginning at the Battery
to the city limits with various loops and branches
has already been described In Tic Tribune. The pur
chases will be required 10 pay TO the nnctoneer Tor
the benefit OF the city ut the time and place Of the
sale. 10 per cent Of the amount OF money bid Thry
will also be obliged deposit the sum OF slocoo"o
In cash securities to be approved by the board as
guarantee OF good faith. within five days after notice
Of the acceptance Of the bid has been sent TO their
address. In this deposit be not made. the pnr
Chase will be looked upon as abandoned and the bou
will Offer the franchise for sale second time. mo
remaining 90 per cent OF the amount bid at the sale
is to be paid to the Controller within thirty days
after the acceptance of the bid.
In addition to these sums, the purcha'ers must
also pay within thirty days sso247 Is with interest
from November IL. sO2. the amount Of eHpens in
CURED by the commi, soneis since their app tn mt
The expenses OF the b0nrd from November ]" 10 the
day OF sale will be added to the SsO,:41 ID. Inc
purchasers will also he lnble for "A reasonable com
pcnsatlop for the duties peri rmed 10y the conms
sioners the amount to lie determined hy the Gene al
Term 0f the supreme Court OF the First JuUclll De
partment which amounts will be announc d at the
tine OF the sale
The purchasers according 10 Article " OF the terms
OF sale are organize within two months after the
acceptance OF the bid corporation to enjoy 'h'
privileges OF the franchise and to construct the rail-
way Tho company is 20 have capltl 'tck ol
S5Q,OC0OC0, and Is 10 be authorized 10 issue 3uo"'o
shares Of the par value Of 300 each The subscribe
to tho shares are to pay per cent al III" maxi
mum amount Of the bonded Indebtedness winch the
company is 10 be allowed 10 incur IS 10 ie opooD
This amount may be secured 10y a mortgage nIoA tie
properly and franchises. The max mum fare Tor
traveller over any part Of the road Is 10 be cents ana
maximum fare is 10 he 20 cents a ton per mile IN
carload lots For less than carload lots, the maximum
fare Is 10 he ) cents a hundred pounds 10 'hgi"
paclagc, however viii be carried iog less than -
cents.
The work Of cons ructng the railway IS 10 be under
the supervision OF the board and subject to ire ap
prevail q It's engineers. Tie salaries Of the engineers
q the board are TO be paid by the corporation bc
fore be ginning work. the corporation Is Ia execute ana
deliver 10 the Mayor bond Of Obligation yer
- 900 900 with sufficient suIplies, and De- liable Tor
all damages to property and persons The stree s.
OF course arc TO be restored to perfect condition after
The work * ended The corporation Is 10 begin WORK
within four months after the acceptance OF III" od THO
railway must be finished and In running order along
the entire route within five years after III" CONSTRUCTION
is begun. The Part of the road. however, be wren
CITY Hall and Fourteenthst. is 10 BE- finished In two
wears: the parts below City Hall AMI between Four
feminist and Fifty thirds The East Side branch.
vi hin three years and tho par between iiy nlhth
ST. and the Harlem River within four years. Failure
comply with these conditions Will bring about FOR
fixture OF the The franchise will then be
rcsoM The commission the Right u reject
all bids and 10 readvertise the franchise Tor sale
That bid will be accepted which, In tho opinion OF the
commission Is best under all circumstances for the
city
Minute details as TO IT, organization Of the com
r,ny ars also contained in the pamphlet The articles
NJ association 20 be signed and Acknowledged by
at least twenty five prrsons and subject to the ap
proval Of the commissioner Upon the approyenon,
4 the articles the commissioner will open books OF
subscription the capital stock Of the corpoiaton
The corpora Ion will be organized by the commissioners
when the fan amount Of ia" capital stock has boon
subscribed by at eaSt fifty persons. and per cent
o: that amount has been paid into tic treasury. ~
tho meeting Of subscribers under the auspices OF The
mmssioner thirteen directors Will be elected, "lci
" whom l. to hold NJ least 100 share, OF the calhm
stOck The directors 10 serve for one year
The railway Is to bc exempt from taxation during
the work II construction. I'll" corporation l. 10
carry the United states mails 0t raics 10 be nNrl
lntcr. Tho ~ .OOOODO deposited with the CONTROL
n guarantee Is 10 DO held until the road i
finished
The motive power Of tho proposed railway Is 10
by the power force 0f electricity some Olhcr
power Mt requiring combustion within the tunnel
The other stations 10 he for local trains Only.
stations 10 be on tho Fourth ave, lnr n Twenty
thirdst.. Thlrtv-SccOnd -. and FOrvs"c1n1-t Tho
station 1T Forty second 81 l. to be for both local and
expires. trains while the other stations arc for local
trains only. The motor used mast b. large enough
10 start easily train Of eight cars each woighin~.
IN addition its load Of passengers. not los Than
30 900 pounds and 10 maintain speed Of nM lcis
than forty miles hour.
The many specifications for tho stations. the tracks,
ETC. have already appeared In The Tribune.