The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-09-14
RAPID TRANSIT pIHAsASrsrEs
Gen. O'Beirre Presents an Origiu.i Scheme
-Commlssioner nushe Want. to Know.

| -Commissioper Rushe Want. TO Know.
| eye can't keep a good man down" remarked
| Lawson N Fuller rs Gen. James r. O'Beirne,
| who has been out Of Job since he retired from
the Government service among the immi-
| grants at Ellis Island. arose yesterday to ad-
| dress the Rapid Transit Commission.
Gentlemen OF the Commission" began Gen.
| O'Beirne. Il have come to submit certain
plans for rapid transit system for the city Of
New York"
There was something new and fresh about
this that frightened the crowd up wondor-
fully, and the General proceeded to unfold.
Tho substance of his remarks was that Banker
S. 1. Simpson had q good thing in rapid
transit and was willing to lot the peo-
pie In on the ground floor. The good
thing was n new elevated railroad. twon-
ty miles long. with four tracks. The
road was to cost S2o.00O.0OO. Capital stock to
the amount Of $25,ooo.0 900 was to be Issued
and bonds to the amount OF S25.000O0O wore
to BIO secured by a first mortgage on the
$50. 1000. 900 worth OF road The bonds we're to
be offered to the property owners along the
line. The owners were to be permitted to buy
up 10 per cent. OF the total value OF their
property conditional on their granting per-
mission to the road to occupy the street and to
waive any claim, for damage. Those who got
OF stock free Tor every ST 900 worth Of bonds
mot 5000 worth of actual paper. but two sheets
OF paper with the figures 500 on eachL The
road was to be finished in three years and the
company was to pay the CITY $175. 900 tho first
yenr and $500, 900 each year thereafter. All
that the city would have to do would be to
sos 100000 worth OF bonds secured by the
$40 100000 worth Of railroad.
The Commission had listened with rapt at
tention. Now they voted to place tie plan on
file for future reference.
Now. Mr.. President" said Mr.. Bushe. I've
n little resolution here I'd like to offer" Mr..
Bushe read:
Whereas. Statements bnve been made in the public
press that propositions have been submitted this
house esentinR syndicate OF capitalists for the
construction of underground railway upon the plan
proposed BY this Commission provided certain modil.
cations In respect to route and other details can 10
effected and that capita! to large already
been secured;
Rsrsd That all facts in respect any proposition
OF this character witch has been presented be be-
fore this Commission and made pubic.
Called 'em. by gosh" muttered one Of the
cranks who frequent the Commission $ meet
ings.
Mr.. .Steinway. picked up the resolution and
looked at It. You see. he said. hesitatingly
g 1 think that it is my duty to state OF my own
knowledge that no formal proposition has been
made to this Board by capitalists. But num-
Der Of capitalists have been in communication
with q gentleman connected with this Com
mission about the matter. They are not ready
yet, and they have ow requested short time
longer to consider the matter and you see.
think it best not to say anything"
Not to say anything" echoed Mr.. Starn.
The meeting adjourned subject to the call
Of the Chair.