New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-12
READY TO BID.

II IL announced on authority which ID Virtual
" official that syndicate Of capitalists OF IN
Questionable resources and credit Is ready to
hid for the franchise which the Rapid Transit
Commission Is prepared to offer In case the Ap-
pellate Division sustains the favorable report
of the special commissioners Indeed, 1t Is OBJ
yious that Mr. Orr and his colleagues have de-
sired this fact to become known at this time
IN view of the encouragement which has been
caused By reports proceeding from the sinister
activity of opponents Of rapid transit 1t ID GER
tain that one bid corresponding to the magnl-
tude of the undertaking will be made. and 1t Is
currently reported that other syndicates are
anxious to obtain the franchise.
Thus disappears one Of the favorite argu-
ments by which antagonism to the project has
been expressed, and with it also. as 1t happens
vanish other alleged obstacles. For the men
who are now ready to accept the financial re-
sponsibility Of carrying out the wishes and
meeting the requirements Of the people OF New
York are not going into the analr Dnndly' nor
are they relying solely upon the calculations
and assurances of the Rapid Transit Commits
zion. They have caused separate nvesu8a-
ton to be made, and are convinced that the
scheme is practicable and will prove 10 De
profitable They have been advised by an en-
nent engineer not connected with the Commits
sion that the work can be done IN the manner
proposed within q reasonable time and without
| extraordinary difficulty. They have ascertaineo
| precisely the sum for which responsible COM
pany will furnish the iron and steel required
for the structure, and they have securely
financed the operation In advance
| The Rapid Transit Commission may possibly
be disappointed at the deferring OF the judicial
| decision iuasmuch as II will prevent an award
of the contract before January /; but 1t Is be-
lieved that this delay does not seriously I'M
peril the undertaking. 1t Is provided In the
new charter that none Of It's provisions shall
be construed to repeal or In any way affect the
| Rapid Transit act the Commission, with some
changes of membership, will continue In Of.
fee and majority Of it will, hereafter as here
tofore. be earnestly DESTROYS Of putting into
execution as soon as possible the plans upon
which It has been 30 long engaged. If there is
any semblance of consistency or Difference to
public opinion In the new Tammany admins
traitor 1t cannot oppose the work to which It's
platform pledged It; nor Is there much cause
for alarm IN the rumor that Mr. Croker Will
antagonize the enterprise In order to prevent
Mr. Sheehan from making money out OF sub
contract As for the citys financial compe
| wa
stitutional borrowing power has been SO nearly
exhausted as to forbid the loaning Of Its credit
for this purpose; while 1t !s practical certainty
that the development of the metropolis will
quickly and largely extend the margin. AS fol
the pretence that the American people do moi
like to ride through tunnels and would not use
the underground roads II they were built, 1t Il
enough to say that the people Of New-York art
sensible enough to rejoice in the hope Of riding
swiftly from one end Of the city to the Other
through such tunnels as the Rapid TRANSIT
Commission expects to provide, and that the
contrary assumption never had any better
foundation than selfish luminosity.
II is possible that the fair prospect now II
view may be completely overloaded by an ad
verse decision of the Appellate Division, al
, similar hopes were disappointed year ago
and yet 1t is scarcely credible that the Court
Its chief original objection on the ground o.
, excessive cost having been removed. win still