The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1901-06-26
P R. R. BRIDGE
Pennsylvania Railroad Plans
a Terminal in
New York.
NEAR The HERALD SQUARE.
Other Roads Will Have to
Pay Toll Across.

1t was learned definitely yesterday that
/ the Pennsylvania Railroad Company had
gone so, far with its scheme for the re-
moval OF its terminals from Jersey City
to Manhattan that 1t was seeking to
finance North River bridge to some
where in the neighborhood of Herald
SQUARE There will be made close con-
nection with the tunnel railroad to be
built by the Long Island Railroad Co1n-
pany. Several financial institutions have
been approached ON the matter, and 1t is
understood they have taken the financial
end Of the project under serious consider
alton.
According to the Pennsylvania plans,
it will construct a bridge over the Hudson
River, which will meet the requirements
laid down by Congress when a charter for
this purpose was granted several years
ago.
One most important part of the project,
according to local fnanciers, is the sup
ply of the funds for the construction of
the bridge. Estimates by the engineering
department of the Pennsylvania Railroad
place the cost of the bridge between $l5,-
100000 and $So0O0,OOo.
1t was once thought the outlay of such
an immense amount of money would be
excessive with regard to the probable re-
ceipts. Later consideration of the fact
that should the Pennsylvania enter New
York it would devolve upon the other rail-
roads ending in Jersey City and Hoboken
to get to Manhattan brought change of
opinion.
1t became apparent that the Delaware,
Lackawanna and Western, the Lehigh
Valley, the Central Railroad of New Jer-
sey, the Erie, the Baltimore and Ohio,
the Philadelphia and Reading, the Ontario
and Western and the numerous other
lines. such as the Southern and Chesa-
peake and Ohio, would have to pay tolls
to the Pennsylvania for crossing the
bridge. In addition, various street car
lines would contribute.
Site of the New York terminal of the
federal bridge scheme over the Hudson
was once placed at Twenty-third street,
but the charter permits a change in the
location and the Pennsylvania plans that
its terminals will be located at Thirty
fourth street, in the vicinity of Herald
Square.
Only rough plans have been submitted
to ifinanciers, but it is understood that
large area of land will be required for the
New York city terminals. The tracks will
descend to height similar to the elevated
stations. The tracks,. in circular shape
will gradually descend to a suitable ele-
walton at a point near Broadway, where
the central station will be constructed.
None of the details, such as the time
when the construction work will begin or
the exact location of the approaches, have
been worked out. A high official of the
company, yesterday, said
Neither the time for beginning the con-
struction of the bridge nor the location of
the bridge nor the location for its APP
proaches has been determined upon"
In Wall street, it was said yesterday
that the banking house of Kuhn, Loeb
Co. and the Mercantile Trust Company,
together with the Morton Trust Company,
might act as a financial syndicate in
charge of the ioatation of the bonds
These three concerns stood ready to
finance the proposition and underwrite the
entire issue of s75,O0o0OO bonds These
houses. however, would neither confirm
nor deny it officially.
In railroad circles, the project is regard
ed as a step in the direction of a connec-
ton of the Pennsylvania with the Long
island Railroad Company, and thus bring
ing about closer relations with the New
York, New Haven and Hartford.