New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-03-02
BOND ISSUE AUTHORIZED.
QUICK WORK On THE TUNNEL CUES
TIoN-MR. MDoNALDs PLANS.

The Board OF Estimate and Apportionment
occupied less thar two minutes yesterday in
authorizing the Controller to issue bonds TO an
amount rot exceeding S36,500,0o0 to pay for the
construction OF the underground rapid transit
railroad The issue is said TO be the largest ever
authorized at one time by any municipality
The bonds will ;oe sod only as the money is
required to pay the contractor.
The Board met at ] o'clock in the Mayors
office, and after the meeting had been called
to order Controller Coler at once offered the
following resolution:
That pursuant to the provisions of Chapter Of
the Laws Of 1891. amended. and Section 10 of
pursuant 10 a requisilicn of the Board of Rapid
Transit Railroad Commissioners duly made by re9o-
and is hereby authorized to issue from time to
Law. Corporate stock Of The city OF New-York to
amount not exceeding thirtv-siv million fVe nun
dred thousand dollars 1886 100000 the proceeds
whereof shall be applied the purposes described
IA said requistion of the Board Of Rapid Transit
Railroad Commissioners
Without comment the resolution was passed
unanimously. Immediately the vote had been
taken the Board adjourned. lit the short
est meeting the Board had ever held and the
most important" the Mayor remarked
1T shows how easily the peoples money can
be voted away said Mr.. Guggenheimer, laugh
inRly.
Alexander e Orr president OF the Rapid
Transit Commission said yesterday that prog
Fess being made il. organizing office and
engineering force TO supervise. under William
Barclay Parsons. the construction work of the
contractor. The details which have been per
fected and the appointments already made will
be reported the Board at its next meeting
AS the places to be filled viii be of confidential
nature, the appointments will be made directly
by the Board. without the intervention of the
Municipal Civil Service Commission.
John b. Mcdonald said yesterday that In
letting out the sub-contracts for the construc-
ton OF the tunnel. he would not confine himself
responsible bidders, he explained, would obtain
the contracts, matter how small was the sec
ton they might bid for. We have this week ad-
vertised in the engineering Journals, he added.
as quoted, that we are prepared to receive bids
for the work in fifteen sections or more. We are
going to take advantage of the plans and speci-
fcations made by the Rapid Transit Commits
eions engineers but we under obligation
to follow them. We will follow them as long as
do TO advantage. But / don't want
any sub-contractor TO bite off more than he can
chew, and 1 want to give every contractor a
chance to do some of the work. For that rea-
there will in all probability be many more
than fifteen contracts for portions of the work.
The sub-contractors will be known division
contractors. i expect the Subway Construction
Company. which is TO build the road. will move
next week into offices at No II Park Row.
We are still in hopes Of starting to shovel up
the earth St Patricks Day with any ac-
senby and the Rapid Transit Commissioners
wish to have on that occasion"
1t Is said that Mr.. Mcdonald has promised
a contract calling for twenty million bricks 10
he used in the building of the tunnel to Edward
W. Bellefeuille, OF Montrose.