New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-04-04

owned and controlled by the Third Avenue Rail
road is one that will he the better appreciated
the more IL is understood by the travelling pun
lie Its possibilities are enormous. as briel
consideration of the existing conditions OF street
railway business in NewYork will disclose:
Last year the elevated and surface street
railways in the boroughs Of Manhattan and the
Bronx carried about 620OOoOoo passengers oI
these the elevated roads carried lS,.VoWo ana
the surface roads i35.O0O,VN. including trans
fers. 1t is surprising fact that more than one
quarter Of the whole number OF surface railway
passengers I'm 1893 carried on transfers.
Less than twenty years ago. that is to say IN
1880 all the surface roads OF the city carried ap-
proximately 141 100000 passengers, ana the
elevated roads 81 COG. 600 passengers. Last year
the transfers amounted to nearly as huch AZ
the whole street surface business or the city III
1880 and nearly twice much as the whole ele-
waited railway business In that year. let the
transfer business has been In operation only
few years and Is practically still In It's infancy
That IL will advance with tremendous strides
under the proposed arrangement between the
Elevated and Third Avenue companies Is GER
tain. ,
THE advantage Of this agreement to the
travelling public will probably he more APP
parent in the borough Of the Bronx. Where the
Third Avenue Railroad owns system Oh street
railways covering nearly all OF the princIpaI
streets and which extends beyond the city UNITS
to Yonkers. Mount Vernon w-Rocheie' ana
to other towns. This system above the mar
lem River at the present time is still In the proc
Of extension and construction, Dut wnc1
complete will consist of nearly two hundreu
business in a few years Will douDtless ai'ou"'
to half million passengers daily. -
with the installation of electricity upon tme
elevated and the lines Of the Third Avenue I'll
road the capacity of the combined raliroaus
will be Immediately increased more IMAM wv
fold. and with the improvements anu uerr,
mens already planned for prompt umue' r,,,,i;
there will be provided for the trnveiihs PupIt
through the united efforts OF these TWO srea,
railway systems a scheme for supplying RAPID
transit broad enough to cover the posslo'iiueS
Gov,
RUSSELL sAGE's VIEWS.
When Russell Sage was seen by Tribune
reporter at his house. No. SOC Fifth-ave. last
night. he was not inclined to be over-communi-
cative but what little he did say was full OF
pertinence He frankly admitted that the tranc
agreement arrived at between the Manhattan
and the Third Avenue companies was the result
Of the offer of the Metropolitan people to build
the underground tunnel, and was intended 10
counteract as far as possible the monopoly OF
the citys transit facilities which the whitney
corporation Is apparently seeking.
This agreement between us and the Thrd
Avenue people" Mr.. Sage said, has been talked
of for some time. but it was not dehnlteIy de-
cided upon until the Metropolitan company
came forward with its proposal To puma the
underground railroad. | consider that we nave
made an arrangement which, while perhaps not
giving the city more travelling facilities, VIII be
Of enormous advantage to the public. Besides
giving passengers the privilege or crosstoWh
transfers in what may be called the city proper.
the Arrangement will prove OF the greatest ad-
vantage to people residing in the BorouGh OF
The Bronx and to residents as far north as
YOnkers when the proposed extension OF the
Union Railroad is completed
The advantages which will accrue from the
agreement between the Manhattan and the
Third Avenue companies may tend to demon
strate that there is no such immediate need for
the tunnel as that the franchise shall be given
away for practically nothing. Speaking as
taxpayer and not as a stakeholder of the ele-
waited company. ] am opposed to this perpetual
franchise propositions | have already made
public the reasons why am opposed TO the ldea
and still adhere 10 those opinions.
The details Of the new transfer system have
not vet been entirely completed. but hope
to put the arrangement into practical operation
within ten days nj the most"
The course Of Manhattan and Third Avenue
in the stock market during the last few days
noted in the light Of the present development
has been such as to warrant the assumption
that some arrangement involving these two
properties was under way. Last Wednesday
Manhattan closed at 1lOH. having ranged
around that point for some time. and Third
Avenue closed at 30 having ruled a little below
and little above that figure also for week
and more. on Thursday Manhattan began to
move" and that day e made a net gain Of "a
Joints. closing at 116: while Third Avenue rose
= points. to 2lI. Friday was a Stock Exchange
holiday. hut in the two hours OF trading on Sat
urday Manhattan advanced 9 points. closing
at 12j and Third Avenue went from 10 to
225 a net advance for the day OF 10 points.
Yesterday. transactions Of nearly lIooD
shares. Manhattan touched 1:3is and closed at
100 net gain Of = points: and Third Avenue,
on a smaller volume Of trading and under much
less pressure from proht-taking selling. closed
al 23t Il net advance for the day Of per cent.
After the close OF the Exchange Yesterday the
fact Of The traffic agreement was made public.