The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-12-21

The partisans Of the projected rapid
transit railroad seem to have gone crazy over
Z the virtual killing Of the scheme. To re-
: vive 1t they now propose to violate the
Rapid Transit act, and, what is more, to
obtain the sanction Of the Supreme Court
for perpetrating the violation.
The plan for constructing the railroad
submitted to the Legislature and au-
thorized by 1t. contemplated the advance
ment by the city Of the money necessary for
the purpose, and it's repayment In full out
of the rental Of the work after IL was
completed. The contractor for its construc-
ton was to equip it with rolling stock and
maintain and operate 1t for q term Of not
less than thirty.fve nor moro than fifty
years, paying to the city as annual rental
not less thar the interest on tho bonds
issued by the city to obtain the money
for the construction, and, in addition, 1
per cent. as a sinking fund. In this man.
ner it was expected hat the bonds issued
to pay for the road would ultimately
be retired, and the city would own the
work free of debt.
To secure the city for its advances, Sec
ton "a of the Rapid Transit act directs the
Commissioner appointed under 1t, to con-
tract for the construction Of the work by q
contract which shall provide that the con
tractor shall also "equip, maintain and OPP
crate 1t "for q term of years to be specified
in said contract not less han thirty.five
nor moro than fifty years" n shall a
nually pay into the treasury Of the city the
rental heretofore mentioned. Then follows
this provision:
'.The person. firm or corporation 20 contracting
for the construction. equipment. maintenance and
/, operation Of said road. shall give . bond TO said city
IN such amount as said Board OF Rapid Transit Rail.
road Commissioners shall require, and with ~suroties
to be approved by said board. who shall Justify In
the aggregate in double the amount Of said bond.
Said bond skall be . continuing security and shall
provide for the prompt payment by said contracting
person. nrm or corporation Of the amount Of annual
rental specified in the aforesaid contract, and also for
the faithful performance by said contracting person.
nrm or corporation. OF all the conditions. covenants
and requirements specified and provided for in said
contract"
Further ON, II is provided that in case of
default the city may take possession Of the
road and operate it on account of the con,
tractor and II the road fails to earn enough
to pay the rental, that the contractor and
his bondsmen, shall be and continue joint.
ly and severally liable to the aforesaid city
for the amount of such deficiency until the
end of the full term for which the said
first contract was originally made"
y 1t Is clear from these provisions Of the act
that the Supreme Court has not the power,
even II it has the will, to allow a bond to be
given by the contractor to cover the con.
struction of the road alone, and allow the
city to take the risk Of It's earning the an
nual rental for 1t after 1t Is constructed.
Nor can the Commission make q contract
which shall bind the city, If 1t omits to re.
quire security for the rental of the road az
we'll as for Its construction. If It should
attempt it, the city could be enjoined from
issuing bonds under the contract.
There are Judges in Berlin" said the
peasant whom FREDERICK the Great threat
ened to despoil of his little patch Of ground
ut Potsdam.