The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-01-31
PRIVATE CAPITAL AGAIN.
ANOTHER proposal 10 EttLD Nv
UNDERG ROGND EO4I.

| John ~. Davis a 60. said to il .u,..,.,
| Syndicate Which VIII pu. 49,. -
and WIN Not Ask ior ruc tIt,'. H.
Not Quite Ready 80 Suhnit ~r.,r.-.,r.,.
That coy dame. the Rapid TRAM. ..r.-,...
sion. had notice served ON her yy.tr, .o,,
coming proposal for underground ta... 3 t.,,'
sit Commissioners Imam P..'.. o.. .na., H.,
starin heard theno.ice served az ;,,o. ..,....
ing VI tho Commission. anil t,....., ..n,,.
starn. who presided In the abs .n.... .II..'.
dent Steinway who has cole. d.. GO. ..o,,
for the Commission, aud .ull Ma, ~. I..,
tho rrorosor that he had tuo iIura.
Mr.. TaEn represents the la"E.r. rrr, ,,
John H. Davis X 60. ~ 10 N.. s....t. IA
said tho firm took n dec, irIcra.. .n f5..t
transit and had expected o. s..H "a ,..,.
munttati,u to the Commi-,i.n. lut Co.,, f-,s.
sure Of business hal malo 10 ...... ,to
do So. Tho FIRM would haF . .a.ulr..,.
ton ready for the Comm! ..ul of I's r..,
meeting. Mr.. PaEo added tH.t Ia W.. s,rr,
he could say nothing mh.o GtnHi's.a. Tn,
present.
Mr. starin smilcd for the Comm scion. ard
thcn. as an ancrthought AMI tn i.n .r sur.
that the Commission understood tee. I,rI0.
canoe of Mr. RACES remarks. asked iuisI
in reference To- an underground road
Yes sir" replied Mr.. Ia,c.
well. we shall he very glad 10 rnceiv, sven
n com municatiOn, and tho soDrcg tao uojlorh
said Mr. Starin.
Tho sooner the better rchogI gnohsr
Commissioner.
Then the Commssic heard a protest AGAINST
running the elevated structure Through -Four.
tccuth street. and lIr. W. H. U'Dwycr e.! n
broadway said he appeared Tor t"yuio WHO
didn't want an elevated "tr'r'E'' "a. Nc,t
Eleventh street. lie said ho Nau,.,..t =. atu,
other mans street.
The commission held n very sho.t cNo.u,iy,
When Mr. Davis and Mr.. Page wcr, asked
what they werO gu.n. h. do they rstlIrl 90 4
general way that they wero much Interested
In underground transit, but we."no' rraly 10
shy much about what they woHId do. Hey
thouEht The lillian plan was good ono.
NJ ililam said that 70 syndicate u, tLir',nr
bankers and railroad men in this city bad urra
formed; "i which John ". Jaws. y @. was 90.
head, though not Ecces,nril. in, 'nt"r,d
and had outlined the plan % tho, syn rcate'o
him. There was trouble though, about thN
terms OF tn" franchise. All IT," none, we.
be furnished ~, private capitalists. a'.o TIE
routes laid down by the Commission wuIlI D..
followed. Mt. lillian outlined the. ulan y
procedure 10y saving that duTlua tnu 4 wee.
necessary to advertise the selling Of the 'rgui
chlss u construction company would DO orsgHi
the franchise were knocked down At u Reasons
able price, tho contracts would be mLln ahi
the work would DO begun. .,,.,.....
Tho first section OF the road would 10 hu.it
on tho west side from Filty-ninth Street %
city Hall Then an east side sootion from
built. These two sections would I've ma o
ready for use in two years. The roads wpulL
then he extended on the west and cast sidei
Tho plan provides for two separate tunn"lal
one above the other. At arst only the lowed
tunnel would be built This would cost witid
It's equipment rolling stock. @c.. SlbOOO.O Ont
Tho upper tunnel would cost Sl5.OOJUOtI
moro.
When asked whers the money was comm 4
from. Mr.. lillian said that after S!0OOOO1
had been extended the company could 60 int
the mark ct and sell its bonds. and thus carr1
on the WORK. English bankers. whose named
he could not mention, are prepared he said
to tako 80 PER cont Of the VIII le Issue of bonda{
Mr.. Rage said that this outline OF the PLAID
was substantially accurate.
Owing to the absence OF President Stein way
tho report on the Wilson plan. which tho Com
mission Il nearly ready to send to tho Mayor
be sent.
When Mr.. II. T. Wilson heard that Mr. Pays
had appeared before the Com mission. no said
he was glad there was a prospect that prlvat
capital would build tho underground Still h d
Bionary plans.