New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-02-01
IN THE MAYORS HANDS.
REPORT, ON THE WILSON PLAN MADE
BY THE RAPID TRANSIT COMMISSION.
THE sArEGrARDs rnoPosED-MR. GILRoy STILL

THE sAFEGrARDs PRoPosED-MR GILROY STILL
THINKS PRIVATE CAPITAL SHOULD
DO THE WORK ALONE
Mayor Guroy yesterday received from the Rapid
Transit Commissioners their expected report giving
q general approval OF the Wilson underground plan
The report dated January 20. and said;
They CHE Commissioners have received from X.
r Wilson & Co. bankers of this city, letter SUB
hitting proposition 10 build an uhdeTeOuIit ~
,cm OF rapid transit for the city Of New-lork sub
stan;ialiy on the route and generally on the plan
adopted by this commission IN US rGport 10 , r
Common Council dated october 70 iSgl, w when re-
port and plan have already received the approva'l
OF the municipal authorities anu the o'nrr rovpi
ments of the city government M"ose "p gmbmitted
to this commission by Mes ;,rs H. T. wilson q w.
The recognized financial standing Of this ot lrm M
coupled with their offer to deposit herewith $VVcVW
In value in approved securities III IS u ,
company condition that the same s!aii De ~
evenr maj Messrs Wilson & Co shall fail to sign
the contract for the construction of the proposed
Substantial assurance of the performance of their
undertaking as 10 Justify the most thorough co'-
sderation Of the project they submit
no INTERFERENCE WITH OTHER PLANS.
The proposition IS not offered substitute for
any plans now before the commission, nor Is II
desired that the work Of the commission In matur-
ing such plans shall he in anywise deferred. The
new proposition is stated TO be In harmony with
existing plans and in addition thereto. rhe inability
to sell the underground franchise Onered Dy the
commission. and the fact that since that oifer all
efforts to induce private capital embark in the
enterprise have proved unavailng. make 1t doubtful
whether any UNDERGROUND road will be built In the
The proposition made by Messrs. Wilson 4 Co Is
the only one for the construction of an undergoing
road which has ever been matured ana presented
by private enterprise sunportea 10y TeCoei ,tI
should be submitted 20 the Constitutional Con
Vcnton and popular vote ne pr9posito o as SUR r
opinion contain all the essential features OF such
an Undertaking. The form or the coh1dCt I I9I IIe
T. r Wilson & co. should be determined and should
be deposited together with their Securities in the
an agreement that in case Messrs. r. 7. Wilson IL
Go. fail to sign such contract within thn;y days
law the securities shall be forfeited 10 the people
of this city.
PAYMENT OF THE EXPENSES.
This seems the only way to make the forfeiture
absolute as otherwise the signature Of the con-
tract might be Indefinitely postponed by questions
as to its form We think also that Messrs r. T.
Wilson & Co. should pay all the expenses OF this
commission incurred In the laying out OF me pro
made for road by which the East side line would
he ex tended above Fortysecond-st TO Harlem, ana
into the Annexed District The CONTRACT, should pro,
vide that the first loan be made upon the conpe,eu
section of The road not less than two miles In length
Instead Of one mile as proposed. Provision should
be made for five-cent fare between all points un
M NJ ma q 1r hs' y @i and for tencen fare be-
tween all points within the city limits ,.
The revived discussion of this subject may awaken
interest in underground routes and encourage private
capital 10 subscribe all the funds requested for Their
construction II a reliable offer 10 build the under
ground railway should be received from private
capital before the adoption Of the required con
stitutional amendment, before the vote OF enc
people of this city shall be taken the franchise ior
such underground railway Will be again oms t9 at
public auction on the six weeks notice authorized Dy
existing law. 1t is the intention OF this commits
sion 10 defer the preparation of its plans for an adj
ditional elevated system in this city; The work VIII
be promptly prosecuted to completion respect
'"' WILLIAM STEINWAY,
JOHN II. INMAN,
JOHN II: STAIlN.