New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-10-03
NEW RAPID TRANSIT PLAN.
THREE UNDERGROUND RAILROAD COM
PANIES UNITED.

THE PROPOSED ROUTE FROM CITY HALL PARK
i. TO THE GRAND CENTRAL sTATIoN-Ils-
TORY OF THE SCHEME.
Albany Oct "A certificate filed with the
Secretary of State to-day. setting forth an agree
ment Of consolidation between the Central Tunhei
Railway Company, the NewYork and New-Jer5ey
Tunnel Railroad Company and the Terminal Under-
ground Railroad Company of New-York. forming
the Underground Railroad Company of the City OF
New-York
The railroad to be constructed is to be about three
miles in length running from City Hall Park north
erly to and under chambers-st., and through ne
block to and under Reade-st TO Elm-st. thence
northery through and under Elm-st. TO and under
northerly through the blocks and under the cross
streets to and under Great Jones-st thence through
Place and Eghth-st.. thence through the nlo,k 20
ly through and under Fourth-aye and under Forty
second-st. to the Grand Central Station
forming are JUNCTION With the main lire at
Thirty-thrd-st and running in an easirrY direc-
ton to the Thirty fourhs ferry on the East tlVeT
the second forming junction with the ma'n line At
City Hall Park and running IN an eas,eriy ureS a
to the East River and thence TO south
Ferry with stations at all the ferries on the me
at City Hall Park and running westerly under the
streets and through the blocks TO West-st'; ana
thence southerly parallel with West-st 10 South
Ferry, with stations at all ferries on the line
The capital of the COMPANY is $1,000 di.lue9 imto
dent Bernard f. O'Connor: vice president, Cornelius
" Sidell OF Ncw-York City; treasurer, Charles e.
West of Ridgewood. ~ j.; secretary James NJ + sK
Hatch of BROOKLYN; Spencer ID. Schuyler WilllaIn
G. Nicoll and Raymond l.. Ward OF New,i ofN I NY
Nine hundred shares of the stock OF inc Vt'nSoIl-
dated company are to be used in payment 81 diis
tanning from the old companies their stock; aSfre
eating 100000. which stock shall be canceiieu ana
not reissued The remaining 1910 shares are 20 re-
the treasury of the company TO be disp psed
of at not less than par.
The consolidation of the three companies mentioned
IN the foregoing dispatch takes one back TO 1885, When
the Arcade Railroad Company struggling, with
Melville c. Smith its head. TO get under Broadway:
when Colonel Origen depbergh sought, by the aid
of Edward Lauterbach, TO revive his charter Tor an
underground railroad up Em-st.. Lafayette Place anu
Fourth and Madison ayes, TO the Harlem RNer iiln
when Colonel Rowland r. Hazard bobbed up win me
brand new charter Of the Terminal Underground
Railroad Company to reach the Grand Central STA
ton by the same route with Cornelius V. Sidell as
promoter OF still another scheme for an undersrouhi
railroad occupy the space al the same tihe
Cornelius " Sidel is now president OF an thlteee
companies which enter into the consolidation ftaPi1
Transit Commissioners past and present have turned
down all of these corpora tons. Mr.. l-auterpdch
locked his controlling stock in the Nandenbergh COM
pany up his safe, and declared he would walt uht!
The time came 10 prove the validity Of that cnarter
He is not in the present Sde combination Well
informed railroad of this city express the opo
that the present movement on paper 10 eletT mi
consolidation comes of the talk OF the Kaplu
Transit Commission regarding the fstin-St- uiueI-
ground route and that there is hope that somehow
or somewhere there may be something IN IL ioi
somebody. The utilization OF the New ORR anu
New-Jersey Tunnel Company deadWoou - mitei
preted as due to the fact that the Enghsn s!nuicdte
interested in the present tunnel under the HUDSON
River Is going resume business as soon aS '"e
silver craze is dead and buried