New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-03-31

Shall. In WIsdOm, -.
resort 70 private capital should be permitted then
g. nower rs annie as those proposed by the amend,
ments already submitted and those TO ne sup'"'''e
with this memorial.
REPLIES OF MR.. WHITNEY.
William c. Whitney has replied to some or
the objections which have been urged against
accepting the Metropolitans offer. In inter
preting the 10 per cent clause he says
There is no proposition for 1o-cent fare for the
underground tunnel No such term should be used.
II the city built the underground tunnel the fare
would be 1--WE cents and all passengers taking sur T.
face cars 10 get 10 their destination would nave ~
pay another fare the surface company III, :,
The fare all local trains In the tunnel VIII,
70 Nave en- additional fare for express trains for
several asons. First. If the fare on express anu
section Of the city would be crowded out of cXX-
press trains by passengers VINO oeS'' ,,ir destI
nations In as quick time by fast local as by OK
press trains This would defeat the very purpose
The privilege which is given to the travelling
public who the tunnel and pay mN -, aT,,
of the Metropolitan companys surface inns i ior
three cents is Of nesimable value 10 inc th
II the city constructed the undergrouna '"''''' '''
public would receive no such adyanagcG called my
the Roadway under which express trains ru,'l,"s
thirty miles an hour would have to be opera'eed,
II would not be safe TO run trains less than four
minutes apart If a less Roadway were possible
in trains on express lines The four-minute head
way between trains is absolutely necessary 10 pre-
vent accidents. ., .h,,
II an accident occurred the experts proved that
II there were less than four or three ana nan
minutes between trains a following traln couu no
he stopped y time. This important matter mas 10
be con sidered in calculating the earning capacity
Of the underground road. .. -.
The field las been open for some time 10 any Sc!
of capitalists build the underground tunnel nut
Metropolitan company made It's proposal. mere
are millions Of capital ready 10 invest IN PSN.hns
enterprises and II must be allowed that II me
tunnel project considered by the hnahclaI
world a profitable one the money for construction
would have been forthcoming
BEST THAT COULD BE MADE
Mr. whitney asserts that the offer made by
his company is the best that could be made ana
added that if the support Of the public were not
heartily given. the proposal would he with
drawn. THE Metropolitan company he main
tans. "js not going into this matter as specu-
lative matter The who are Interested
financially only seek fair return for the money
involved and the risks they are called upon TO
assume Under the terms as set down We have
figured that fair return will he made for the
outlay OF S5O.00O00 on this work. Any change
in the conditions which would tend 10 lessen
the revenue would upset all calculations 1t
could not be possible for any company To realize
per cont the investment If the Underground
system was operated separately. All these
questions have been carefully considered by our
ox perts The formal proposal was drafted after
every point was covered