New-York tribune., 1901-05-30
THREW AWAY S6,000,OOO.
AN ECONOMICAL sPENDTHRIFT is H. H.
VREELAND.
THE COSTLY CABLE PLANT OF THE MET
ROPOLITAN STREET RAILWAY 10 NJ"
FOR SALE AS OLD JUNK

Six million dollars IS large sum TO thFo~
swav. vet that is exactly what President II. II.
yreeland did when he persuaded the Metropoh-
tan Street Railway Company 10 change the mo-
tive power Of its Broadway, Lexington anu ~
lumbus-ave lines from cable 10 uncersrouiN
trolley Many a shipwrecked Noyasef mas
pitched all his gold into the sea in order 10 oe
free to swim for his life; but the cases are ho'
analogous for the Metropolitan was not py ai''
means losing money when il decided 10 aoai0o
the cable. Mr. Vreeland's bold stroke is more
IN line with that Of the real estate owner W W.
pulls down a sound rent paying five story Duiiu-
ing in order 10 erect the same site sy
scraper: but the builder has yet TO appeai IN 1li
New-York who would tear down F"'o'''
structure with such an object. soos
T2,,+ even Sc 600 COO great as that sum is ooeS
not denote the magnitude OF this glgahtlo oP
tion Just consummated by the Metropoiil''ii, "
cause the total cost Of the installatloh VI
cable system was s160O0O00. Included IN this
,vas nucb valuable real estate on which the
,oronoy,, erected y7ower houses. The real estate
,,a ,cer+ei, other constructive work which was
done on the roads Mr. Vreeland estimates AT
s1OooOO00 The installation Of the electrlcal
,,l.n+ which now runs the cars has cost another
sloOO0O00.
since Mr. Vreeland has been president OF the
oonpany he has expended about S3o,E"""o on
SIS plant II is not surprising, lhereloie' nc
a man who deals so largely with other people
money should consider the sacrifice OF so'o"'-
oa0 ANYTHING to worry about. so long as he has
S1OoaaO00 10 use in building on the same slte'
so 10 speak a plant which will pay the interest
on both
HOW THE MONEY WAS SPENT
OF this abandoned S6,Ooo0oo, about s4''oo'
ono is represented by the extensive system OF
uoanbOleS. cham
hers etc, under the tracks. These are not
.asoa Gov tba trolley. The remainder consists
q, the cables the thousands of wheels over
1.bicb II ran and the three enormous power
rlants in Broadway. SiXth-ave and Lexington
ave which moved the cables. President Nree-
land led a Tribune reporter through the great
chambers in the basement and cellar and SUD-
cellar Of the Broadway power house yesterday
and let him look at the huge hyWheels' v"
feet high: the massive drums, the powerful en-
zines and long row Of furnaces, which dragged
the cars up and down Broadway from the Bat
terry 10 Thirty-sixth-st. Cold and motionless
stood these giants. AS good as new, as power
ful as ever Mt for ten years more service with
only ordinary repairs, they seemed 10 be Won
dering why they were laid off. locked out. put
out Of the running. LAS the machinery is OF no
more use TO us though practically as good as
new" said Mr. Vreeland. I'VE are forced 10
sell il for old junk. You might suppose that we
could get something worth while for il even at
sunk rates. but / calculate that it will cost US
all we receive for IT get It out Of the building
and deliver il TO the purchaser"
''Niu your traffic Justify such enormous eX-
pense?' asked the reporter.
Mr. Vreeland smiled and replied: Il will give
you few figures to think about, Last year the
total gross revenue Of all the Philadelphia street
railways was roughly speaking Sl00oOoo0.
The Brooklyn system took in S1l.000,000. Our
conductors in New-York collected in nickels
Sl55o0000"
NO OTHER CHANGE LOOKED FOR.
"Adr Vreeland," asked the reporter. have you
no fear. that your expensive electric plant
is installed that some new and improved sys-
TEN will be put the market in year or two
and make you sorry you did not stick TO the
cable q little longer, just as your company
might have jumped from horses 10 electricity
and skipped the cable If il had waited till the
underground trolley was perfected?"
Il have such fear" replied Mr.. Nreeland.
''Tbere is no Improvement on the horizon which
might develop into an Improvement on our sys-
TEN within a reasonable number of years
THE NEW STORAGE BATTERY.
The new storage battery of Edison contains no
features which have not been tested by electrical
engineers and found wholly unsuited TO heavy
streetcar traction.
NUN liAdL SOA nave liIStdiltu A44e NlN4lNg Al
Broadway" said the reporter what will you
4 do next?"
Installing il in Seventh-ave. Will be our next
step was the answer, "and this work will be
9 pushed al once. When Il is finished will be
able to relieve the pressure in the retail shop
ping district by running Seyenth-aVe. cars up
Broadway or SiXth-aVe. 10 Twenty -third-st-
there switching them across town to Seventh AVE.
and thence up COlumbus-ave. without taking
them through the jam at Fifty-ninth-st. We
viii also soon be ready TO switch certain cars
from lower Broadway across town at Canal-st
and uptown along Eighth-aVe."