New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-01-18
THE BRIDGE TERMINAL LOCATED.

SINKING FUND COMMISSIONERS PASS UPON THE
EXTRAORDINARY SWANS VIEWs-BANKs
WILL PLACE THE BONDS
The Sinking Fund Commissioners yesterday con-
sidcred questions relating to the New-fork ana
New-Jersey Bridge. and an opinion from Corpora
ton Counsel Scott read deciding that 1t was
not in the power of the Board TO impose on the
company any special compensation for the use OF
streets as approaches. This opinion was given be-
cause Recorder Golf at the last meeting objected 10
voting for any approaches unless the city re-
Ceived proper compensation.
The Recorder said that he understood it was the
intention TO use the surface of several streets and
TO close up others altogether. He added that he
would never close street in the interest OF
a corporation after the city had paid for opening It,
Alderman Olcot said that it was not the intention
10 close up any streets. He moved that the ter
minal he located between Forty-ninth and Fifty
first SITS. and Seventh and Eighth aVes.
General McCool City Chamberlain, said he would
vote for the approaches, but he wanted some as
surance from the representative of the company
that further legislation modifying the conditions
under which the bridge was to be built would not
he asked for There is a bill at present in Albany
providing for extension of time for the compile
ton Of the bridge Counsel promised that beyond
this bill no other legislation would be asked for.
Recorder Goff then moved as an amendment that
the Board indicate its preference for route No. p
with approaches shown in the diagram" Mr.
ClCOtt accepted the amendment ana the route
which is known as route No. o and which is de-
scribed above, approved.
The Board also approved of the Department Of
Public Works moving into new quarters in the
American Tract Society Building, at the same ex
pense as the present quarters. No 81 Chambers-st
The Sinking Fund Commission also considered
the improvement Of the Harlem River as presented
IN the report Of Chief Engineer Greene. of the Dock
Board. General Greene advocated appropri-
alton OF So 900 for wharves at Seventh-ave. John
II. Shaw. who appeared for the Pinkney estate
which owns most of the property along the water
front. objected TO the proposed improvements The
meter was laid over
Secretary Swan. Of the New-York and New-Jer
sey Bridge. said last night: The action of the
State Commission and the Sinking Fund Commits
sion in locating the bridge and approaches thereto
and the great union station meets with favor by
both the bridge and construction companies. No
better location be found in the city This
bridge project be made to give New-York ter
Ininal facilities superior 10 any city in the world
We shall ask the Secretary of War TO approve the
location and Immediately set ourselves TO work TO
make the building contracts with responsible bridge
builders. ii is believed that we Will see the bridge
well under way before this year expires There arc
no reasons why the bridge and approaches should
not be finished within five years.
The Mercantile National Bank of New York pro
poses to bid for S5.O00oO0 of the secretarys new
per cents for itself and customers. and offers 10
furnish the gold for the first 20 per cent of its
customers bids and procure. at cost, the so per
cent OF gold remainder, without Withdrawing II
from the Treasury.
The Mercantile National Bank intends to bid for
81 10000 OF the bonds. and offers 10 receive and
tender the bids Of customers for 100000 additional