New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-04
RAPID TRANSIT SCHEMES.
MANHATTAN AFTER THE FRANCHISE.
~ LOOKS AS IF A CAT WERE IN THE BAG

no
X Fuller in the audience; also W. Nowand Amory,
otarv bidder for the franchise OF the tunnel scheme
m, week The counsellor of the commission, John NJ.
powers was present. Mr.. Stenway, chairman,
nened the proceedings. and D. Morgan llldreth. 1r on
ehalf of Mr.. Amory and said that his client held
,,o the sale last week bona fde: that the BID
nod hem accepted by the Board, and that he in
60. that purchaser OF the franchise, the commission
having accepted the 10 per cent of the purchase price
a., stenway as chairman replied that the bid not
cceptcd but that 1t was simply received for cOnsd-
Grafton
not of 81 900 on which Mr.. AmOry had made the de-
noAt Of 10 per cent, good bid that his client
ook the receipt for the payment Of the money that
no declared he had bought the franchise and that he
bsd complied with the provisions of the act OF incor
pcraton.
Mr.. Amory was again asked to make known TO the
,ommission the names Of his hackers. Mr. Bowers
sssed MIR. Hildreth, and subsequently Mr. Amory him
self If Mr. Amory prepared to put up ~ 100000.
Mr. Amory replied that he had not come down town
Nth million dollars that last week he was pre-
nored 10 put up the 81 100000 on receipt of the
.Atten notice within five days OF the acceptance OF
the BID in accordance with the provision of the speci
fcati0n.
Mr.. Inman suggested that they drop the discussion
NJ millions and descend TO the matter OF ordinary
,hou.ands ALLOW me to ask Mr.. Amory," said MIR.
rrman. "if he Will undertake 10 deposit $4,000 TO-
morrow, and If this thing is taken up, whistler ne
,,u undertake to work 1t out" Mr.. Amory replied
that unfortunately So5,O00 was Just as Impossible
,or him 10 deposit now as 81 100000. Mr.. S;einway
asked Mr.. Amory if no could give any assurance OF
what he would do could do In the way OF supplying
security which necessary In order to show good
taA Mr.. Amory commended both through his counsel
and nv his own voice. that had purchased the tran
hIse through the action OF the commission last week
that he had paid his deposit OF 10 per cent and that
consequently he the rghtful purchaser OF the
franchise. This did not seem TO accord with the views
of the commission. because Mr.. Steinway shortly
aexward announced that there appeared to be nothing
now really before the commission. AT this point
BENJAMIN +. Romano arose and asked that the com
mission take no action of final nature until certain
neople should be heard. circular had been sent
out by real estate among number OF people
in the following language:
"You are earnestly requested TO attend a meeting
OF owners. agents, brokers and citizens generally
representing real estate interests in this city, to be
held at the Real Estate Exchange and Auction
Rooms Qimted), Nos. 81 10 65 Libertyst., on
January 4. 1893. AZ 1 O'Clock y. m. TO consider
what ought TO be done TO facilitate the building Of
the underground Rapid Transit Railroad, as pro
iected by the Rapid Transit Commission or other
means Of providing the city Of Ncw-lork with an
adequate system Of rapid transit for which meeting
can has already been issued
After the adjournment of the commission, q
Tribune reporter called upon Mr.. AmOry, and sought
his Interpretation Of the action OF the commission In
connection with his bid Mr.. Amory was evidently
rather indignant at the way in which he had been
treated by the commission, and dunned for his
million dollar deposit. He insists that his bid
was accepted by the commission whom they re-
ceved ten per cent deposit money, for which
tiey gave him written receipt. He said that
after the auction proceedings the other day the com
mission retired to the Mayors Office. Shortly after
wards he was asked by them to give the names Of his
hackers. This he refused to do. He gave his 300
and received the receipt OF the commission therefor
Later he sgned, as h declares. copy OF the terms
and specifications In the form OF pamphlet gener-
ally distributed that day. but that signed by him
contained typewriter additions and blue print maps.
Nobody knows. he what he prepared to offer.
The commission, he maintains in accepting the 10
per cent deposit. he being the highest bidder, were
duty bound to give him opportunity 10 manifest
his good faith by sending him written acceptance.
This would have devolved upon him the necessity OF
making the deposit OF 81, 100000 within five days.
and hence 1t would only have required that period
Of time TO demonstrate tn the commission whether
he acting in good faith or not Mr.. Amory says
that later bis money was returned TO him, he was not
asked 10 surrender the receipt for the money de-
pcsited but he signed some sort Of receipt for the
receipt Therefore he possesses he SAYS. the receipt
which the commission gave him when he offered them
his money! and he also possesses the money which
they returned to him.
Mr.. Amory points to paragraph i6 OF the terms
Of sale and specifications which says: "The bidding
will be kept open after the rights. privileges and
franchises have been struck down, and in case the
purchaser fails to comply with any Of the above con
dons OF SALE said rights, privileges and franchises
will again be put for sale under the direction Of
said Board OF Rapid Transit Railroad Commissioners
under the terms Of sale and said purchaser Will
be held liable for any deficiency there may be be
tween The for which said rights, privileges and
franchises shall be struck down upon the sale and
that for which they may be purchased on the resale
and also for any expenses occurring on said resale.
The right OF the commission 90 reject all DDS is
provided for in paragraph II OF the terms ana
specifications. Mr. Amory contends that II any bidder
had shown his inability deposit the 81 100000 the
commission would have been under the law required
To put the franchise up for sale again. He holds
that by accepting his money they substantially ac-
cepted his bid, and that he is the pOssessor OF the
franchise He declares that those whom he represents
will not in the circumstances permit any expansion
OF the elevated system In New-York that they will
contest the ground to the highest court Mr. Amory
regards the acceptance OF the deposit as bunder on
the part OF tie commission committed III the absence
Of Mr. Bowers, their counsellor, who was then In the
West Evidently this technicality will DO used for
all II Is worth. Whom Mr.. Amory represents IL Is
impossible TO determine.
The situation in regard TO this Rapid Transit Ques
ton becomes mere and more interesting, In view Of
certain facts which are known to some, and which
have been quietly discussed within the last few day"
When il was first proposed at Albany to establish hi
commission Jay Gould expressed his opposition and hi
determination 10 def the measure. II said that M
found 1t was going 20 be expensive piece OF WORK
Thereupon he withdrew his opposition and concen
trated his forces In another direction. namely Tam
many Hall The hand Of TammaDy Ha1 Is Away
open for anything in the way Ct contribution, and
Mr. Gould's hand WAS ready 10 drop fee into II. IT Is
alleged that he made a large subscription to Tammany
Halls treasury III consideration OF the fact that ne
should be fairly represented in the Board OF Rapo
Transit COMMISSIONER t. be appointed by the Gov
ernor. william Steinway was chosen president
John II. starn and John ii. 1nman are "eilhho"h
business men, j. Perpont Morgan Is director In the