The evening world., 1894-03-16
RAPID TRANSIT At LAST.
The Chamber Of Commerce
Bill Has Been Sent
to Albany.
SOLID BUSINESS BACKING FOR 1T.
Some Of the Special Committee Al
ready There to Urge Its
Passage.
DETAILS OF THE PROPOSED MEASURE.
II II Become, Law the Present Commission,
Now Pottering with the Bushe
Plan, Will Be- Out Of o Job.

who are still pottering and tinkerlnt
with the ridiculous Bushe ironwar,
route have received notice to clear thu
track. The locomotive has started ir
the shape of the Chamber of Commerce
bill, which was sent to Albany yester.
day.
Some embers Of the Chamber OF
Commerce Special Committee oil Rapid
Transit are already there and will push
1t through as rapidly as possible.
The bill. which has been carefully
drafted, contains over 10000 words. Its
essential provisions are: For n new Rapid
Transit Commission for extended pow
ers under the act of 1891. giving the
new commission the right to provide for
the construction and operation Of a
system for the account of the city; en-
towering II either to use plans of the
old commission or to adopt new ones;
to make contracts for the construction
to reject Of accept m bid; to contract
for the maintenance OF the system for
hot less han thirty-five or more than
fifty years: annual rental to be paid to
the city by the contractor to be an
amount fixed by the Commissioners. not
less than the interest on the bonds is
sued by the city to a for the con-
struction, with an additional sum not
less than ! per cent. on the amount of
these bonds; contractors to deposit
81, 900, 900 with the Comptroller as securi-
ty: to provide the rates of fare and
character OF service; to give the power
OF veto to any one Commissioners: to
abolish the present commission, &c.
The bill is known as IAN act to amend
chapter 4 of the Laws Of 1891 entitled
An act to provide for rapid transit
railways in cities of over 1000 900 inhabi
tants.'" Its opening clause reads:
THE NEW COMMISSION.
THE commissioners of Rapid Transit
shall be the Mayor. the Comptroller or
Seher Of fhi the %h GhamSer o, of nhe rees Of
the State OF New York, and Samuel ID.
Alexander l.. Orr. Vacancies which
iority vote Of the remaining members;
The board shall have the authority and
powers hereinafter conferred n also
may be requisite. to the efficient per-
Torrance OF the duties imposed by this
act"
The bill then provides that when the
lieu thereof. the authorization OF the
Supreme Court has been obtained, the
board shall at once proceed to prepare
detailed plans. II the board decides
for the city, and at Its expense, the
franchise To construct. maintain and
operate 1t shall be sold at auction, after
being advertised in three daily papers
three times Il week for six weeks. The
terms of sale shall provide for it's con-
struction under the boards supervision.
with he approval OF engineers to be APP
pointed by the board, the contractors to
nay the engineers salaries.
SAFEGUARDS FOR THE CITY.
The successful bidder shall deposit with
the C0mptI olier the necessary amount
TO guarantee full compliance with the
terms, and all rights shall become void II
there be a failure to gan the corpo-
ration o. II any requirements are vlo-
lated. In such a case the city retains the
deposit. The terms of sale shall require
hat the construction shall be begun and
finished within a certain time TO be fixed
by the boa I'd. Failing to do so. the bid
der shall forfeit all rights, which shall
then be reSclu.
1t is also provided tina the terms OF
sale snail specify the amount of the cap
ital of n corporation undertaking the
work. the number of shares such u cor
poration may issue. the percentage to
be paid in cash by the subscribers for
the shares, the maximum amount oil
bonded Indebtedness and the maxi.
board may reject any bids and readver.
Use the franchise as often as IL may
deem necessary for the city's interest
No bid may be accepted without the con
b. board. Any sale of rights. privileges oI
franchises shall be made for a defnit
number Of years, but the expiration Of
the term shall not impair any mortgage
or other lien On the property of the cor,
poration. Nothing in the act, however
shall be so construed as to extend III,
term tor which the franchises are 10 b,
sold.
BONDS TO BE ISSUED
The Board of Estimate and Apportion.
ment snail appropriate what money
Is required by the commission. and Il
II fails to do 50 the General Term of tn
Supreme Court shall be called on. For
the payr Hnt of such expenses the Au
dior, Comptroller or other public officer.
he city in anticipation of receipt o
u. es. and the amount necessary to pa,
the principal and interest OF such bond,
snail be made a part of the tax levy
commissioners shall be repaid with in
terest by the successful bidders. Tn,
COMMISSIONER, except the Mayor am
compensation, to be determined by tn,
General Term of the Supreme Court.
The board may at any time determin,
that the system shall be constructed a
me CITY $ expense, and may proceed Will
the construction of any roads laid GU
and adopted by their predecessors, or %
new roads TO be laid out by them. a
soon as the necessary consents hay,
been obtained and the final plans pre-
pared. the board shall complete tn
contract or contracts, the board hayinI
the discretion of providing for the entir
road In one contract, or of maxim
separate contracts. executed from tim
TO time, the road to be built, in the iat
ter case, as the city's necessities r.
orire. h contract shall require tina
the contractors at their own cXpeus
shall equip, maintain and operate III
road Tor a term of not less than thirty
I'VE nor more than nifty years. m.
rates o. fares and the character OF IN
service are to be regulated by in
board. according TO the publ
interests and subject to public supei
! vision and TO such conditions as NAV h
, determined on. The contractor shall ma
INTO the city treasury annually. a
rental, a sum to be specified in The cor
tract, which shall not be less than m
annual interest on the bonds to be /,
sued by the city for the construction q
me road. and, in addition, a sum 10 b
not less than ] per cent. per annum o
the whoie amount of bonds. The annuf
rental shall be paid as the board ma
REQUIRE. and shall be applied first TO Nh
payment of the interest on the bonds a
u may accrue. The remainder Of IN
rental shall be paid into the slnkin
iuna Tor the payment OF the city debt.