New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-14
THIRTY DAYS MORE ALLOWED
THE MANHATTAN RAILWAYS REQUEST An
SWERED.
RAPID TRANSIT COMMISSIONERS NOT WILLING
TO GIVE SIXTY DAYS UNDER
PRESENT CONDITIONS.

RAPID TRANSIT COMMISSIONERS NOT WILLING
TO GIVE SIXTY DAYS. UNDER
PRESENT CONDITIONS.
! An extension OF thirty DAYS granted TO the
Manhattan Elevated Railway Company BY the Rapid
TRANSIT commission yesterday within which to answer
tbo propositions submitted TO 1t on June 81. The
companv had asked for sixty days. The commis
sion met in the house OF william stcinway, It's
president at No. &c Gramercy Park All the COM
missoners present, as was also John NJ Bowers
their counsel.
David F. Porter who was appointed a member OF
| the commission BY Mayor Gilroy TO succeed samuel
spencer made his first appearance as Rapid Transit
Commissioner at this meeting. lie was corahS
received by the other commissioners. Mr. s'ein"ay
has almost recovered from The attack OF rheumatism
which has kept him In the house for several months.
He presided at the meeting yesterday. After he had
opened the meeting Mr. Busbe read the letter sent to
| the commission last Friday by the Manhattan Com
pany Then Mr.. Starn handed paper TO him. ana
asked him to read it aloud. 1t was as follows
The reasons as stated by the chairman OF the Com.
mtec on Extensions Of the company In his letter TO ths
Bo,rd upon which based the request for sixty Days
additional time within which reach decision az to the
accept,ncc Of the facilities proposed and to the tax
IN be imposed are in number first. that SIN view OF
present monetary strncency and uncertainty the COM
panv unwilling into fixed obligations Tor
large expenditures within short specified time. when the
necessary therefor cannot be made
in advance" second that Mr.. Gould the president OF the
company, is In Europe and that his presence Is desirable
before the negotiations shall he closed.
In view Of long pending negotiation and the ample
opportunity president aud directors OF the company
have had to consider detail the propositions OF
this commission II does seem 10 ne that more time
should BE- required 10y the company indicate which OF
the two propositions IL will be pleased 10 accept nor that
for purpose presence OF Mr.. Gould is absolutely
sary The cable communication. Is well Known
between NewYork and Europe is prompt and reliable
While IL Is with extreme reluctance that east re-
Election upon reasons delay advanced vet
feel bound point that the first reason quoted
above f.. judgment. good and sufficient.
have before shown. the estimate OF cost NJ build
ing the elevated eueDonS has been much exaggerated bv
III" company. But admitting that the cost would amount
10 a12 GOO 900 $4,000 600 there l. necessity for
the company at the present time. during the
existing period nnoncill depression to raise the requi
site funds building. There J. much preliminary
work 20 performed before letting OF contracts any
expenditure IL construction II Is reasonably
quite year would elapse after the intention
buii Indicated ~ acceptance before the
right could b. obtained. Indeed much longer
time might capsc for unexpected Obstacles might be met
and within hounds OF possibility that the
effort might prov" totally unsucccssful
II f. not 10 Do presumed that the Manhattan Company
with it, reputation for conservatism, would seriously pro-
pose raise such vast would b" required and
10 authorize expenditure Tong bcfo the lawful right
| 10 construct had been obtointd
II clear that the company might promptly In
intention without being forced thereby To center
into nXd obligations for arg" eApcndn 49, within short
specified timc" and that the necessary financial ar
might properly be postponed at least until sue
In obtaining rights d way reasonably secure
Finally. while l. admitted that the present financial
depression Is extreme It nay safely be presumed that
affair will mend within year within the period when
tho raising Of additional capital for building VIII be nee
Therefore suggest thirty days Z ON July 10 be
extended 10 tie Manhattan Company in-t'oi OF the full
six dly- -kc1 10
ton. Considering tho time ALREADY allowed the company
that thirty days additional time should
prove AMPLE for their pupoe, and may generously be
granted them.
In the tine suce'-t that thu board authorize It's
engineer o submit plans for aud to undertake with prompt
other detl for independent elevated road
that other steps that. upon the lapse Of
The thirty days' time pop0sef IN b. allowed the Man
| haitian Company should that company accept
terms. the commission be I'm position 10 proceed 70
apply the authorities their consent and
ply with such other requirements most eXpe-
dousy supply this clty with additional Of transit.
Mr. Chairman said Mr. Bnshe. al have thought
That We should give some time 10 m" Manhattan Com
paay hut should know whether We are likely to
| hnv" favorable answer or not 20 | would suggest
IA" following letter 10 Mr.. Morgan" Mr.. Bushc then
read letter addressed Mr. Morgan asking him II
the Manhattan would maic The needed improvements
10 The existing lines Mr. Imam and Mr.. starin OBJ
jcctcd 20 the letter.
Mr. Inman. Mr.. Bu,he changed his letter In accord
ance with the suggestions Of Mr. Snrn and Mr.. In
man. md II was sent j. Pf"rpon Morgan chair
man ~ tn. Extensions Committee Of the Manhattan
| Ranway Company. II follows:
Dear Sir: Thr Commission is in irt Of your letter
/ u July : In which YOU ask for additional time within
which make decision TO the accetonc" Of the
'ociitic. offered 70 you by this Commission W. under
stand your present. financial situation T.
enter bligations for expenditures In the
rirurr but form your letter leaves the
position In which this Commission willing have
IL test.
The assurance that additional facilities will b. provided
bv your company that attempt viii be made by this
C1nmi T. lnJ,Taycly demanded and nothing but the
Present monetary uncertainty T. sufficient cause for DELAY
The % facilities for the existing lines IS quite
a. imperative a the extensions in territory.
The propositions which have been presented arc In the
main such accepted By president Your
pany in a Pubic discussion with this Commission. II
th!, Commission assured that company would
accept tn" propositions increased aclc, which
/ io,u submitted ~ soon a. Improvement
the financial outlook without Immediately determining
which proposition respect compensation city
shall tc accepted Commission would feel disposed
Grant the tine YOU ask The Commissioner, how.
ever feel justified granting delay Of sixty days With
out Of company that Is prepared 10
accent propositions substantially HE those which have
lccn proposed reasonably be- expected
make necessary financial arrangement, III advance.
The Commission f. unwilling to grant you further time
to reject propositions
TIT. Commission will hold ts next meeting August
Il al ! 20 o'clock y. H., and ask you
tnuni,ac TO your determination this subject before
then.
LITERARY NOTES.