New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-03
PETITION NOW READY.
RAPID TRANSIT COMMISSION TO APPEAL
TO THE COURTS.
rAPERs TO BE FILED BEFORE FEBRUARY ia
BOND OF s7.Jooooo FOR CONSTRUCTION

PAPERs TO Re FILED BEFORE FEBRUARY IA
BOND OF s7.5oocoo FOR CONSTRUCTION
sUGGEsTED-To AWAIT DECISION
AS TO THE PROPOSED MAN
HAITIAN EXTENSIONS.
Edward NJ Shepard and Albert p. Boardman. the
counsel to the Board u Rapid Transit Commits
sioners have prepared the necessary papers in the
notice q motion and petition for reagument IN the
matter OF the stipulation made by the Appellate
Division OF the Supreme Court In confirming the
Underground railroad route that the contractor
should BE- required 10 furnish a bond OF E5O0VD
The papers will DE filed some time before Friday,
February II. upon which day the argument VIII be
heard by the Court. In the petition 1t Is urged oy
the Commissioners that the Court exceeds It's au-
thority In Its stipulation regarding the amount or
duration OF the bond: and it is also urged that II
the Commissioners acceded 10 the exercise Of much
authority b. the Court 1t would mean the unlaw-
ful surrender of the discretion vested in them by
the Legislature. The Commissioners also declare
that a So 10000 bond for both construction ana
operation is prohibitivc and that even If 1t IS
meant 10 cover only construction the amount is so
excessive that 1t would limit the field of Compel
ton and would cause the contractor TO rehabili-
tate himself by large charge for construction ana
a lower rental to the city. A bond OF sL9"Vo LOT
construction is suggested the highest security
that should be asked for. II IS also shown by the
total cost that has been exacted on pub
lie undertaking.
Care Is taken 10 state in the petition thar notn-
Ing will be done with the tunnel scheme until the
Manhattan Companys proposed extensions have
been passed upon. This purpose Is made clear oy
the wording Of the following paragraph:
while such plan Is under consideration, ana
while the extent TO which it can or may be granted
Is unknown. IT Is inexpedert for the city TO at
tempt 10 make any contract for the rapid transit
railroad OF which the plan is now before THIS
Court. In the Court shall enter an order or
confirmation IL is tho intention OF this Board 70
POSTPONE any advertisement for a contract until
the question Of the extensions and the addition OF
facilities shall be determined unless such deter
minat.on shall be delayed for more than rea-
sonabe time"
The petition which follows the argument in the
papers submitted to the Court IS as follows
First-That the Court will order reargument OF
ment from the Board OF stipulation as to the
seeondDThat the Court will enter an order con-
frm,ng the report Of the Commissioners without
recurring any stipulation; or,
THRIFT the Court shall require a stipulation,
then that the Court VII POSTPONE me dee nd W
grant The Board some reasonable time to enter INTO
such s whs the gsRaeGS aWay COM
pany OF the right 10 build extensions ana add Ia
css is 9d der o"4 sa DGs i the Board
n stipulation at the present time. then that the
Of se Eces 70 Be sscnry IL ne
(a) The deposit BY the contractor OF IOn~p IN
cash or its equivalent, pursuant to the statute
ib The Withholding deposit subject to me
control OF this BoarG OF a reasonable percentage
Of m. price OF constructor. such percentage 70 y"
paid 10 the contractor only upon his completing the
work Of construction and providing proper equip
mont upon which the city shall have irst Zen 10
the extent Of least the portion OF tho percentose
released 20 tho rental and satisfactory !I-
Grafton Of the railroad-such deposit not 10 ne ,uy
paid 20 the contractor until the complete consuuc-
ton. equipment and delivery OF the railroad ready
for operation; and In addition. .
Cc) 4 bond or several bonds TO secure construcI
ton and equipment, but not renta. NE Jhs ot ui
IN addition. ,. . -, ,,,r,,sAod ~.
td) 4 lien upon the equipment 10 ne turnlSn ' ~
ditior. -. = 49,, 1.,,s ,rr.r.,,
act IN an amount which with the cash value x
the equipment. shall be equal 10 the esuniaten
rental for seven years - , <,,.,hox
Fifth-'rhat this Board may have sucn turther
opd other order and relief may be just