New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-10-26
FOR THE CITY TO DECIDE.
THE ALL-1MPORTANT QUESTION OF RAPID
TRANSIT.
POWERFUL REASONS WHY VOTERS SHOULD DE
THE UNDERGROUND ROAD-THE DRAW

POWERFUL REASONS WHY VOTERS SHOULD DE-
CLARE IN FAVOR OF THE CITY BUILDING
THE UNDERGROUND ROAD-THE DRAW
BACKS OF ANY OTHER PLAN
In view of the fact that the important question of
whether or not the city will construct rapid tran
sit road is to be settled at the coming election the
Rapid Transit Commission has issued statement
setting forth just what the present conditions are
The paper in part follows;
In order comply with the statutory REQUIRE
ment in time submit this question to the voters voter,
al the election. the Commissioners were compeliel
road which had already been adopted by the former
Rapid Transit Commission. and for when an con
Broadly stated this road extends from the Battery
through Broadway to the Boulevard, and thence 10
lends 0 from Union Square up fourh-ave to Forty
third-st on Election Day two ballots Will be placed
in the hands OF each voter. one OF which VIII rea1
For. Municipal Construction Of Rapid un TTahsii
anf 'n of G napd VI" Transit rsaa
If the vote for municipal construction shall pre-
vail the Rapid Transit Commission is authorized 10
make such Changes in the routes and plans already
saSPeb as on TAX s Purpose n o hs
ers TO reconsider the whole subject. to make such
notifications as may seem necessary or advisable
and adopt plans for extension OF the route on
the East Side which shall adequately meet the Just
demands OF the people residing IN tnat par, OF Inc
In the award Of the contract FOR building the
also operate the railroad as lessee for period to be
fixed by the Commissioners OF not less than thirty
be paid the city. This rent must be sufficient in
amount to pay the yearly interest on the bonds IS
sued by the city in order 10 for the construction
OF the road and additional sum each year 10 be
fixed by the Commissioners, but not less than per
of the entire cost of the road.
THE CITY WOULD OWN 1T.
The road is to be at all times the property OF
the city. The city is pay the cost Of Its con-
struction and in order TO provide the money for
this purpose is authorized to sell its bonds. 1t Is
the intention of the commissioners to exact bond
from the contractors, which in amount and
in the number and the responsibility OF the sure
| ties will abundantly secure the city against any
tractor is required 10 equip the road chat is to
provide cars, motive power and other appliances
for its operaton). at his own expense and the city
is also to have first lien on all OF TINS property
further security for the performance OF the CON
tract
The annual rental which the contractor Is to pay
to the city must, as have said be equal to the
interest on the bonds issued by the city TO pay for
the road. and additional sum Of not less than
per cent upon the amount Of such bonds. The
applied the payment of the interest on the
bonds and that the balance shall constitute
sinking fund for the payment OF the principal or
Z the bonds when they become due. II Will thus be
taxpayers by reason OF the expenditures of the
city in building the road. as the road Will thus
eventually pay for itself out OF the rent which the
lessee is obliged to pay each year Into the city
treasury Ample power Is conferred upon the
Rapid Transit Commissioners to require such
agreements the part OF the contractor as Will
suitably provide for the comfort and safety OF the
pa ssengers using the road and to establish and
limit the OF fare TO be charged for transpor-
taton.