The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-04-11
THE NEW TUNNEL COMPANY
rgo IT'S HACKERS ARE, AND WHAT
THEY PROPOSE TO DO,

~. old Central Tunnel Company at the hot
tom OF the New Organization which Wants
10 Build the Road, but. Ht 10 said. Does Net
care to Take Amy Chances in OPERATING n.
Tho Rapid Transit Underground RAILROAD
oomnany Of this city, which filed articles OF in.
corporation under the General Railroad Law at
Albany on Friday, appears to contain n mix
lure OF interests and Purposes which may make
q dinicult for II 70 carry out Its main purpose
that of contracting for, building, and operat-
,rs tho proposed rapid transit routes which
,he Rapid Transit Railroad Commission has
laid ou'.
AT the bottom of.the- organization are the men
Interested In the old Central Tunnel Company.
Tbi, company and Its successor, the criminal
Underground Company, claim TO have certain
rights for the building Of an underground
road over that part of the route between the
City Hall and the Grand Central Station which
has been. ,hosen by the Rapid Transit Com
mission. Apparently the company does not
propose To contest the right Of the Rapid Tram
ht Commission TO build q road over this route,
but by filing a description OF this part Of tho
route with n description of tho further route of
the Rapid Transit Commission up to 155th
street, 1t hopes to SO far pre-empt these routes
As to prevent any one else from acquiring any
rights therein.
outside Of this interest, II was discovered
very considerable element Of engineers, con-
tractors. aud bankers, who are apparently
FULLY able TO undertake the building Of the pro.
posed road under An aGre .ment with the RAPID
THAR: chan Jes for pront. fhe contractors and
che shsif ID sn ao, W n sa e. sai Ss amt to sss Sails i, the on road.
ing It. The Rapid Transit law requires that
the contractor shall not only agree 70 build
TO pay for, but he must agree also IN equip It at
his. own expense with motive power and
rolling stock, and then operate IL under . lease
years nor more than fifty years. Tho fare
shall not be more than Ave cents, and the
paid on the city bonds issued for the cost Of the
road and ! per cent; in addition.
That In building the road over the new ronte
there:might be q very considerable profit many
engineers believe, but few arc sanguine as to
the profits. to be made by operating. II. The
tract for building and operating in the name Of
The RIpid Transit Underground Railroad Com-
pany, sublet the building contract to the con-
risks OF operation again 70 the main company.
The men who represent the old Central Tunnel
Interest R,eFs Trs say tha All in ;sse Of g failure Of the
the new company will 20 ahead and build at
least as far. as Forty-second street. The Rapid
blocks beyond the route named BY the new
eompany and also has an east side EXPANSION
from lo6th street. The protectors Of the new
tompons eSoSEt tuht uO COluuAuS pullutnV WIN
its own money. would 60 beyond 155th street at
present or build the east side extension.
People connected with the Rapid Trapait
Railroad Commission did not appear yesterday
TO look upon the new company as one likely TO
be q serious factor in the situation. They said
that its organization under the General Rail.
road law would prevent its being able 70 be-
come q contractor to build the road.
The bill which Aseemblyman Mcknight Of
Queens county introduces into the Legislature
on Friday, suspondinR Tho operation of the
Rapid Transit Railroad act in case of the
Greater New York charter becoming law, is
locked upon by the Rapid Traneit Railroad
Commissioners as a strike on the part OF
Brooklyn; "Brooklyn wants IN spend tho bal
self in case OF consolidation. g said one Of these
men yesterday, and that il all there Is In Mr.. |
Mcknight'a bIii."