New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-04-18
THE OFFER WITHDRAWN
METROPOLITAN COMPANY GIVES UP IT'S
RAPID. TRANSIT PLAN.
COMMUNICATION TO THE COMMISSIONER
POSITION TO SOME OF THE TERMS OF
THE OFFER SAID TO BE THE REA-
SON FOR THE WITHDRAWAL.
SON FOR THE wfTHDRA


Following promptly upon the receipt here yes
terday OF the news that Governor RooseVelt hau
In a public statement in Albany declared that
while he earnestly desired the passage OF the
Rapid Transit bill he was opposed TO granting
any franchise in perpetuity or for more thah
fifty years. the Metropolitan Street Railway
Company. which has put In the only bid Tor
constructing the tunnel with private capital, but
has made the granting Of lease In perpetuity
condition OF its undertaking the enterprise
gave notice to the Rapid Transit Commission
yesterday afternoon OF It's purpose to withdraw
its proposition to build the underground rapid
transit railroad. Soon after learning OF the
Governors Views the RAPID Transit Comrhis-
sion received a communication from the Metro
potan Street Railway Company suggesting
conference and in accordance with that re-
quest a meeting of the Commission was hur-
riedly called for B O'Clock The following repre-
sentatives OF the Metropolitan company were
present to confer with the Commission: Will
lam c. Whitney. Harry Payne Whitney. H. II.
Vreeland and Thomas F. Ryan, and Elihu Root
and Henry d. Macedonia OF counsel for the COM
pany
After the meeting Secretary Delafed OF the
Rapid Transit Commission said there was no
statement on the part OF. the Commission TO
make but that they would probably have some
thing TO say in fcw days. Another meeting
OF the Board will be held on Thursday
Later in the afternoon the following letter
was addressed to the Rapid Transit Commits
sion by Mr. Macdona at the direction OF Mr..
Whitney:
To the Board Of Rapid Transit Railroad Com
mssoners.
Gentlemen: Since attending the meeting to
cd wi
ternoon we have considered the situation as IL
was then presented and determined upon the
action then indicated TO you orally.
You will remember that at the time OF making
our proposition of March y, 10 build an under
ground rapd-trans railroad. we ADVISED you
that our clients considered the difficulties ana
risks Of the undertaking so great tnat they
were not willing to assume them unless assured
OF popular approval and support. ana the CORE
spondence was made public In advance OF any
action upon 1t with the understanding ,hat II
n did not prove to be really acceptable TO the
people of this city we were at liberty 'o WIFI
draw the offer Mt any time
we made the proposal as advantageous for the
city az we consistently could with reasonape
prospect Of profitable investment. ana 30 Ia
vorablc to the city that from the fgures maue
by our experts as TO cost and carrying tapacey
the profits seemed to our clients DOUBTFUL anu
their desire to make the investment even under
the most favorable circumstances was pu'
slight. A.. .. h re
ceiyed with general approval, and In many
quarters was treated in the same spirit IN "hlcn
II was made we forced to recognize anu
you agree that criticisms often originating III
adverse interests and attacking the only de
tails OF the plan which gave any prospecI ~
nroht have made a Judgement In the pupic Hiinu
and created an impression that we are Trying W
drive hard bargain and TO get possesslon vi VI
privileges of great value without rendering an
ADEQUATE return. Our clients are not "Ihii6 "
occupy this position. and they are satsHeu thaI
under such circumstances success in the enter
prise would be impossible. They are NOT "iiIiis
on these terms to undertake to proVlueo a sun sun
.,oh ui tbev estimate az fully S60OOO0OO with
the certainty of changes in financial conditions
long before the work is done. and TO lnNes. II
in a novel enterprise or douDtful proh'' ihey
therefore feel constrained to wlthdra" tne,'
proposition to DulIu the u"ue' ei r
transit railroad 80, -, a..
AS YOU are aware. that proposition had Its
origin not merely in our clients wish ior prom.
but in n natural inclination TO contlhue anu .tu
nerfect the system OF passenger transportation
in this CITY TO which they have devoted srea.
mart of the last fourteen years, with lefults hot
only profitable to them but Denenclai W .IIe
public and which they could not nave accom-
plished except for the approxxaI. anu III peo
generously accorded to their efforts by the peo-
nIe ~ the CITY They wish us to express tnelr
appreciation OF the courtesy ana cohsiuer aIIon ,
with which YOU have received ana ueateu Ii th.ii
throughout the negotiations. very respec,iu'!
yonr, ,,,,>,rtIpOp O. CTIMSON
JAY GAMBLER.
rrd,y,dual members of the Rapid Transit
Roard who we're seen last Night declined 10
make any statement about the conference WV"
the Metropolitan representatives or the wiz"
drawal OF the company's offer. EHorts "e'e
made to find President Vreeland, Mr.. Macuoha
and MFR Root but not one OF them was at nome