New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-02-02
THOMAS SEES M'DONALD.
SAYS ONDERDoNK SYNDICATE DOES NOT
WANT HIM TO FAIL
eURETY COMPANIES STILL DESIRE TO FURNISH
THE BONDS. ANY REDUCTION OF WHICH
WOULD BE OPPOSED.

WOULD BE OPPOSED.
General Samuel Thomas, who is Of the
chief figures III the Onderdonk syndicate, which
put in a bid Of 500 800 900 for the rapid transit
contract had brief conversation with Mr.. Nc
Donald yesterday. What was said could not be
learned. Later General Thomas told Tribune
reporter that ne deprecated any attempt to rep
resent members of his syndicate gloating.
even In the slightest degree, the possibility
OF Dir. Mcdonald failing to qualify. and the con-
tract falling to the higher bidder He said the
Onderdonk syndicate was loosely constituted
that any member of it might take share. IN Mr..
AdcDonald's construction company without vio-
lating any obligation, express or implied. to the
Onderdonk syndicate, which has never been
r5mpleteIy organized any way.
Mr.. Mcdonald had progress to report yes
terday the work of securing personal guaran-
tees for his bonds. but there were indications
that the guarantee companies, whom he told on
Wednesday he would not need, were, hgurative-
iy speaking, running after him in endeavor
to get him to change his mind. The president
of the American Surety Company had inter
view with Mr.. Mcdonald himself, and Andrew
Freedman had interview with De Lancey
Nicoil, Mr. McDonald's counsel. No direct ad-
mission could be had, however, that the Rapid
Transit bonds were discussed.
Rumors were circulated all day that an effort
would be made to reduce the S6000O00 bonds TO
lower figure Both Mr. Mcdonald and Mr..
Nicou disavowed any such intention. August
Belmont would not discuss the question at ali,
saying his promised statement was not ready
yet, and President Orr of the Rapid Transit
Board. expressed himself opposed personally
TO any further lowering Of the security. AT the
office Of Zabriskie Burril & Murray, the law
yers who opposed the original reduction of the
bonds from S15000000, it was said that all the
arguments used then would apply with ADDED
force to further reduction, and the impression
was gained that the opposition would be active
Edward NJ. Shepard counsel to the Board, said:
The Appellate Division of the Supreme Court
would have the legal right to accept reduced
bond now after the bids are IN but Il rs noI
likely that the Court would care 10 reduce the pond
plated il would be natural that there should be an
advertisement for new bids
CORPORATION Counsel Whalen is thought to be
favorable to a reduction. and Controller Coler
might accede to it If the city were permitted 10
setan as additional security. say, 10 per cent OF
. each payment due to the contractor.
Y Regarding the delay and the part played IN II
by the low figure at which Mr.. Mcdonald bid for
the work, William Barclay Parsons, chief engi-
neer of the Board. is quoted as saying:
Although Mr. McDonslds bid vas e Ss side s4
50eo have not the slightest doubt that R ne can ON
build the road for S350o0,eO MY estimate Mas ott
what ii would cost the city, and MADE allowance
for very handsome profit to the contractor.
understand that Mr. Mcdonald expects 70 s1p oao
the for between s25,o000o9 and SS.oykvog
That would leave him profit OF between s9oCooo
and s100el0J) Out of this however, he would nave
to take care of the bonds and pay other expenses
And then he will have to hold cut proper induce
IneHts capitalists 1t is in respect to this I'M
ooubtedy that the delay with his construction COM
pany has occurred
There will be meeting Of the Joint Commit
tee on Public Ceremonies appointed by the Board
of Aldermen at o'clock this afternoon. The
committee will organize and proceed as speedily
as possible TO arrange for ceremonies at the
breaking Of ground for the tunnel
great many men have focked into this city
from other places in the hope Of getting work
on the tunnel. 1t seems to be the impression in
other cities that work will be begun at once.
The fact is that work need not begin until thirty
days after the signing Of the contract The day
now set for this is next Tuesday. If the time
shall be extended-and there is probability or
fhis-the date for the actual start of the work
would be further off. The Outdoor Poor Depart
1nent has many Of these men on its hands ana
Superintendent Blair has issued order that
they be sent back to their homes as rapidly as
possible. Some of them are absolutely destitute.