New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-03-30
TRANSIT BILL CHANGES.
,vrxDMENTs ADOPTED BY THE BOARD
AND SENT TO ALBANY
ANOTHER BID FOR THE TUNNEL nv" -
SYNDICATE OF ENGLISH AND AMhH'-
CAN CAPITALISTS $50 METROPOLIS
CONTRACT CoMPANYs
PROTEST


..,,srroop at the Chamber OF Commerce. The meet
ing which was attended by Mayor van NFcN anu
controller COer. called Tor the Pu'P's' y"
drawing up the necessary amendments 10 'he nap"
TRANSIT hill I'm order enable the commissioners 10
40, an The Metropolitan cOmpanys proposnioh anu
=. -. upon q memorial TO the Legislature
viewing ina, the additional powers providing Tor the
consumption OF the road be granted The oDJect "'
these amendments IS to confer upon the hoa'u 'i'
,ocor 70 consider the merits of and 10 ac' "Po" any
rid received for the franchise The proposed amend
,r.n,s do not bind tho Board TO anything nut em-
noVer II 10 accept. reject or modify orers srni'"
80 that submitted by MIR. Whitney and his asso-
cistes.
The form OF the memorial to the Legislature was
submitted 10 the meeting by the BOARD couIS','
Messrs Shepard and Bosrdm"'' AN" ''''
Intimately John H. Starin moved mat the Pres'-
den, and secretary he authorized TO execute 'he
foregoing memorial behalf OF ana uhdef '"'
seal Of the Board. and TO forward the same ~ '''
houses Of the Legislature. The mOuoh wa"
carried but Mayor Van Wyck and Controller Co'eI
did not vote upon Il. The Mayor. however o"e''u
q resolution Of his own which was read;
Resolved That it is the sense OF this BOARD 'ha'
A is in tho public interest that in addition 10 'n'
movers already possessed by tho Board the Legs
lature should grant TO the Board the power To
contract the construction and operation Oh ''e
rsnid transit railroad by private capital Inns wa
unanimously adopted.
The proposed amendments as prepared ny couhSe'
were then considered. and ultimately Alexander T.
Orr and George l.. Rives designated to revise
the amendments in a few suggested particulars
mainly OF a phrssocloeical character. Al the close
OF tho meeting Lewis L. Delaheli the secre'a'!'
refused 10 give out the memorial or 'he a'"''u
ments lie said they would not be made pubic
until they had been received by the LEGISLATURE
which will proba bly, he to-day.
4 letter vas received by the Commissioners from
Frederic r Eser president OF the Metropolis CON
tract Company protesting against the prooape
acceptance Of the Metropolitan company = oner.
The Metropolis CONTRACT Company was formed in
1897 for the purpose bidding for the tunnel CON
tract under the conditions then existing relating to
municipal construction. Had the debt limit ques-
lion not interviewed II Is probable that the syndicate
headed nv Mr. Fsler would have secured the con-
tract
MR. ESLERS LETTER.
.. In his letter Nj Eser expresses surprise that
the Commission should favor the handing over OF
the franchise to private corporation. when the
Metropolis company ready 10 huild the road
under the terms which provided for city ownership
He refers AZ length 10 the history OF the ne
eotiations between the Commission and his syhdi-
cate and says that a result OF those conferences
his company had invited tenders for the constru'-
tion Of the separate sections OF the worK. lie
points out also that the Metropolis syndicate. as
precauion against rise I'm price. entered into con-
tracts for the steel and steel rails needed In the
construction of the tunnel and for million bar
rels OF cement. Mr.. Esler closed his letter thus:
Your engineer and. believe, one of your counsel
rany would appear bidder n opportunity Was
offered and, II successful assume the contTact
subject 10 the judicial determine ton OF the deDi
limit of the city and also subject to It's approNdl
y form by me Corporation Tounse c H ed it
ready and willing 70 comply IN ever ec
and those additional requirements imposed by the
Appellate Division Of the supreme Court A.,
IL is with some surprise. therefore, that we ind
an apparently authentic statement that ne com
mission has approved The proPoltom e Hn1naanY
upon lines which require complete reversal OF
the position heretofore taken by you ana Th tSa
votes Of the people OF New-York. and seem to be
nnm 1t The ownership of this public franchise
was thought TO have been permanently vesieq, IN
is the Intention to set this aside by legislation
and to rso or nef nd 70 rsT{ 2 1hS sw
must done despite the fact that there has been
,, vF, ne work in accordance With the man
date Of the people. the decision Of the Court ana
one at least, OF the prospective bidders is con-
strained 10 enter protest.
ANOTHER BID
Bert Reiss lawyer Of Brooklyn, acting "in be
half of a syndicate representing American and
English capital" wrote 10 the Commission making
a bid for the underground railroad The letter was
also signed hy Thomas G. Mellefont, English r.
nancial Representative ST. Denis Hotel" The
communication stated that the syndicate would or
ganize corporation. 10 be called the Manhat-
tan Transit COMPANY to build the underground
road and TO give satisfactory guarantees of per
Torrance Tho proposal asked for a franchise Of
ninety-nine years. and AZ the expiration OF that
time the franchise TO be awarded as the Judgment
OF tho Commissioners may At" The syndicate
offered per OF tho gross receipts as compen-
sa,ion "a the city and % per Of any rentals
which mitht he derived from the running Of wires
and tubes through the tunnel. On express trains
fare Of FIVE cents only was 20 he charged.
1T Is also offered" the proposition stated. Sub
feet the approval Of your Board that 30 per cen;
Of the capital stock OF the Manhattan Transit Com
pany he offered 70 the public FOR subscription at
psr preference be given TO small subscribers W no
are citizens OF New-Nork city
As the Commission has yet power 70 con
slider propositions action OF any kind was taken
with regard 20 this letter. Mr. Ress did not state
the names ~ the capitalists behind the syndicate
'ror did he in any way indicate its financial
strength
James L. Wells the president Of the North Side
Board Of Trade and J. A Goulden. president Of the
Taxpayers Alliance OF the Borough Of The Bronx
wrote asking that before the Commission TOOK any
definite action upon the proposal submitted by the
Metropolitan company their respective organiza-
tions should nave an opportunitS TO he heard by
the Board The members Of these bodies sre de
srous ~ urging that provision should be made for
extending the underground travelling facilities on
the East side of the city Mr. Delaheld was In
strlcted reply that the opportunity ASKED 'oi
would he afforded
Little doubt prevails that the amendments 20
be presented the Iegsla ture will be passed with
out change. II stated yesterday that the
negotiations which eliminated I'm the Metropoi-
Nan's offer have been in progress for long time
and that at first the company was not disposed 10
undertake the great enterprise OF constructong
and operatng the tunnel railroad. The advances
mad. TO the railway directors were received with
apa,hy for some time. but ultimately It was demon
sfrated 10 them that the mutual interests OF them
selves and the city required that they should be-
come the builders OF the tunnel IL was pointed
out 10 Mr. Whitney that the extension ana I'M
provement OF the surface lines OF the Metropoh'ai
street Railway had not only fully justified the out
Law nv stimulating traffic. but had brought In re-
,urns greater than he and his associates expected