New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-18
CITY REVENUE WOULD NOT SUFFER-.
MR. ORR ANSWERS An OBJECTION TO THE RAPID
TRANSIT PLAN.

MIR. ORR ANSNlKo AN ObJf' il'> ~ 4iiis ma ~
TRANSIT PLAN.
Alexander T. Orr the president OF the Board Of
Rapid Transit Commissioners. has sent TO the Board
of Estimate and Appor;lonment "A long letter IN
tended TO show that the city Will not lose any rev.
enue from the Broadway Cab,e road II the rapid
transit railroad Is constructed under Broadway.
although Controller Fitch recently declared that the
city would lose $4,000 year. The Controller re-
fcrred 10 the bond executed by the broadway and
Seventh Avenue Railroad Company In 1889. stpu.at-
ing that from the time when such cable railroad
shall he In operation. and so long as no other rail-
road than those existing shall be constructed
upon under the said routes In broadway.
or any part thereof. the percentages upon gross
receipts paid into the city treasury under existing
provisions of law for the use OF Broadway for rail-
road purposes together with the rental OF $4,000.
also paid for such use under such provisions, shall
amount to the annual sum Of at least $4,000 which
the said company shall agree shall be the minimum
amount to be paid annually for such percentages
and rental"
Mr.. Orr states that while the building OF a road
"urider" Broadway might make the bond useless,
the railroad company. by the terms OF its charter.
is bound to pay the annual sum OF $1,000 and an
additional equal TO per cent OF Its gross re-
ceips below Fifteenth-st.. into the city treasury
Continuing, Mr.. Orr makes the following state
During the year ending September 30. 1895. the
Avenue Railroad Company land lts lessee. the Metro
politan Street Railway Company, from its railroad
on Broadway below Fifteenth-st.. amounted to the
sum Of 81 60 $50 80. Five per cent OF this sum Is
ss4 617 81 which added to the fixed annual rent Of
$4,000, which the company s compelled to pay TO the
city in addition to the above percentage would
amount TO s24.Gl7 81. II. therefore. the bond to
which the Controller refers had been abrogated by
the building OF a rapid transi. railroad under Broad
way prior September 90 1885, the total consequent
loss to the city during the following year would have
amounted to but 81, 1872 ~.
But 1t is not TO be assumed from these figures
that II the city shall build rapid transit railroad
under Broadway, the consequent abrogation OF the
bond above referred TO will cause continued loss
OF revenue from the cable railroad. For II would
appear from the figures contained In the Controllers
report for the year 1898 that the number OF passcn
gers carried upon the surface OF Broadway between
Fifeenth-st. and the Battery during that year was
% 1O7 O6i whereas the number OF passengers carried
upon the same portion Of broadway during the year
ending September 30 1895. was 33A7.W7. And II
needs no argument to show that II this ratio OF
Increase be maintained for the next two years. as
there Is every to believe that IL VIII be- the
annual percentage which the cable company Is
compelled pay the city. added TO It's fixed rent Of
$4,000. Will considerably exceed the minimum sum
whose payment Is guaranteed by the bond above re-
ferred to-"