New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-03-30

underground principle was an advantageous me-.
Of urban pid transit. II came then 10 " o'
question OF terms. The members OF 'he N'''
s,or were strongly IN favor OF retaining the own
ersblp of the railroad to the city. hut the coi"'"''
,,s,sted unon a franchise in perpetuity. ana uPo"
the nrerogative Of charging an extra hNe 'e'''
upon express trains. II Is stated that the 'e"'
why II Is proposed TO form new company 49,
NJ undertaking the project directly throus"
Metropolitan company is that the bonds issued pl
tho latter would be second mortgage oonuS' '
which would deprecate their value As " - wv
tunnel bonds will be hrst-mortgage chalEe''
President H. H. Vreeland said yesterday l""' ~
refusal TO pay any return to the city OH NV -,
for the wires and tubes which Wou'n !" | NO
,hro,gb tho tunnel could not be construed az wv
Arriving of q hard bargain. The CITY u" -
plained has refused to build the roa"' an ,,r
49, ,sken the matter up. We have m"", W.
nroposition only after the most careiul -
,,on and il any ono elise comes forWa'u an" 49,,
a better offer We will withdraw. fNe" t. ,ho
rentals OF the conduits We are NOT cert" =, .ho
tunnel viii pay fair return on us -. rains
ohioction TO tho tcu-cent fare on express ia,
would noinf ont that all the great steam '' ,,
horr. .x,ra on their express trains. ~" '"'
moro for a better service -. ,ron the
IN tho course Of an editorial comment uio"
Metropolitan's proposal The Enshee'"s
will say in its next issue:
We have carefully examined inI nm, fair in every
offer and they appeeaSa ,crantine hy the city 81
eTpc,,a franchise for the road The noecntia
feature Of their proposition and Nv" ,seion have
members of the Rapid Transit ON ncceesary to
grant this perpetual franchise i pTiT rnnd
to undertake the construction o, ticay from this
proposion 1t is possible 10 proydS Years and
life Of the franchise Of 5or'y to private capital
and an equally sound business moJ},,an company. a
&c - he fOrNcu VIM u,
build and equip the entire road anu Tor : per
perpetuity to the MetropGah His per cent
interest charge becomes then. peiII"e nroyision
Wl"n yn is made for , king fund to pay S
the bonds which the c0nSl ucuun , ruction OF the
iseuo 10 raise funds for the consUu''''" "
Sow what we would propose is that the the rental
ing r cepf Der annum Of the cost OF the roau "' ~
equipment this sum , 10 De which the bonds will he
nsm of ~ maturity or else used each yea nnt
pay OFF certain proporuon o. fformer alternative
he taken and interest is allowed at per oynt 70
tho sinking fund acGnu uad in oniv forty years
III. when these bonds are paid on let the CUn
structlon conPS";b e civ which doubtless would
continue to lease II for operation 10 enrb terms
and exhibitions as might be equitable at inaa mas are
The Metropolitan company per CIT !, nUite Ger
now guo'ea AZ Ell at par per cent bonds for
the building of the underground rod., s,aI to the
H., +tar
constructon company ought to ne no ny n, r,o,i5od
4 nor cont and The per cent additlohal FW4nrirg
1or in its own offer would constitute W.
fvnd navment which We have above "u'"''"
por. Roiss tho Young Brooklyn LAWYER Hes'er-
dav afternoon told his legal friends that j a." a.
tenn, &c made to grant tho Metropolitan peoP'' "
perpetual franchise for AL underground i"i'"
transit system on the terms proposed pS 'I''"
selves he would apply for a supreme 'ou'' ~
junction restraining the granting Of any su'h priv
lage Mr. Reiss is not taken seriously ny SUM
neonIe hnt there is no doubt that he conld oo'ai"
an Injunction as we'll a. any ono. He Wouid uo""'
lose apply for the injunction. as he mas hau w
nerienco in a number of franchise matters. " ne"
the Board of Aldermen Of Brooklyn approN'u I"
contract with the Brooklyn Union Gas COMPANY
Mr. Reiss representing somewhat he'ulo"S
gas company applied for an Injunction on INC
ground that a contract with the company "ouIu
no q waste Of public funds. As his company "ou'u
furnish gas much cheaper The contract win Inc
eas company finally was ratified. and Mr. Reiss
comnanv was dead one At last accounts MT.
ReIss is an enthusiastic Republican but MS en-
deavor TO become the leader Of the Sixteenth Na'u
i'm Brooklyn met with ignominious deieat AT 'he
hands Of Harry Jacquillard, the old leader