New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-03-25

against carelessly parting with its franchises
in the future. His speech strongly opti-
mistic as to the good the city would be sure 10
derive from the extension Of the new unoer-
ground railway system. Mr.. Orr said:
Mr. Chairman end Gentlemen The Tem0yai w Oh che
according to the programme we are soon to wit
ness WI be the inauguration OF system OF th nt
VIII continue to stimulate our marvellous erep
city in fact, as they have been lately united IN
name.
many of US here to-day: think We would congrat,,
last reached period in civic history when we
are beginning 70 appreciate the possibilities Of the
future, and would express to one another the
hope that hereafter will reserve to ourselves
pa 81 WHICH, sSfS are
the RI ana sne IN o 6e po 90
tion continues to increase; - 49, L.. -.
the experiences Of the past Il would be impossible
mae1icent p S5po NewYork will have as
ned fifty YEARS nene when I'd the Lease OF THIS
her dispositlon but we have now the satisfaction
nzed as having lsr9ely Contributed to that growth
a5a had anG e6 5Re VISION and 6os
from those who follow us in the line of civic
1t has been asked b. some of those who have been
sceptical the outcome OF this tunnel system,
What does rapid transit really mean?' One of our
from the Cry Han Park in fifteen minutes This
is true far as IL goes, but II really means very
much more than that
WHAT RAPID TRANSIT is
Rapid transit for New-York briefly stated is this:
rom 5yn od % be c ha wifi
meet the requirements our continually Increasing
needs. and this; we claim, will be assured by an
augurated here to-day.
was small and compact in the neighborhood OF
Bowling Green and the Battery Park. the people
III of arSifr
homes when the work of the day was done AS
the omnibus was o called into resuson and f STea
time it fulfilled its mission well, but its capacity
limited and il could not keep pace with the
growing and growing requirements of the
e Omnibus honoTaby chg The hOfs eaa
sTere6 the PuTPese for period during which
10 stay. At best il was only suitable for local and
ter and more rapid service Compelled the invention
Of the elevated railroads This proved TO be a
its impulse previous records of growth and munic-
the anticpatiOfs of the sanguine far surpassed
pene men wb at mae 6g m to n % enter
dlfncuities and dscouragements. persisted In their
finally succeeded in snatching victory out Of what
veted roads which Such Brom fxen 5hf a eIs
years after their installation, and to which the
area and increased taxable revenue returns, have
Elmer ta rom shortslghted policy of management
Gginnating point of their usefulness in further
aE0 II became painfully evident that very
be serionsy cbeced ans Nv IN oL Ie CITY w9uld
in question.
With this in view the Legislature was applied
of Rapid Transit Railroad Commissioner endowed
Of construction and motive power, and. subject to
right to Construct d aWn IN
Inc franchise for a rapid transit system In New
The Commission adopted the underground tunnel
system IN a somewhat restricted form as a solu-
and peng bans otTe5 a IN 6Bihg 3gt routes
T 51,id Of It's labors But private capital
the work OF that commission terminated without re-
Some time after in 1894 the Chamber of Com
1aerce of the State of NewYork, the natural guar
danger that would result from further delay ap-
3ontea a -commttee to investigate and report upon
under the leadership of the Hon. Abram S. Hewitt
owes so much. and with the assistance the pres
ent Mr. Justice Beekman. amendments to the then
existing Rapid Transit act drafted and submit
TED TO the Chamber for its approval which they
new Commission and provided for municipal CON
struction. under certain conditions entirely
phase of the amendment was ratified by the peo-
amendments into the Rapid Transit act of 1881.
and the people ratified the municipal construction
very large majority.
MAIN FEATURES OF THE LAW
:. Briefly stated, the main features Of the law as
u now stands are these: The Commission under
prepare plans and specifications and select motive
power etc. This being DONE the right
competition acceptable lessee is found who will
agree TO construct and operate the road for term
years paying rent the interest on the bonds is
sued by the city for construction purposes, and a
further annual amount of not less than per
on the cost toward the creation OF sinking fund
which is protect the principal of the bonds as
lhey become due, the lessee meanwhile to give
curity that viii be satisfactory the Rapid
Transit Commission for the full performance all
contract and leasehold obligations.
The benefits of this RAPID, Transit law both
the city and the lessee obvious. They are Just
and protective TO the former, and the same time
generous and economical the latter and very
ectment. But, TO illustrate fully advan-
tages TO the city let us contrast for moment the
outcome Of the lately proposed contract provide
NewYork with increased water supply In the
latter case, II the proposition had been accepted
iand 1t is likely Ii would have been had not the
watchful and intelligent supervision Of the flnan-
New-York would have paid during the sixty years
of duration 10 private corporation which
al the present time does not appear to own much
more tnan us name an estimated rent OF S2Oa000ooO
and have nothing whatever on hand show
asset for that enormous expenditure. In former
case, at the expiration o. a shorter period (hfty
years.. the city will this tunnel railroad that
will have $50, 800 900, and which is the key TO
the rapid transit situation the expenditure
of a single dollar for construction interest,
having simply used its credit under carefully guard
ed guarantees for the time being to the advantage
of the lessee who meanwhile pays the interest as
falls due and provides for the liquidation Of the
bonds at the expiration of his lease. And there is
well 10 contemplate. II New-fork is to possess in
future the magnificent proportions her past
and franchise privileges must also increase in
value IN like degree 1t is bounden duty, there
main TO US, and hold them in such control that
they will never pass from us in perpetuity has
out for fixed periods Of tenure, so that from time
TO time the city may enjoy fair proportion of the