The Jersey City news., 1901-12-14
TUNNEL PLANS. }
Ex-Secretary William Nc
Adoo and His Partner
Rehabilitating the
Old Company.
NORTH JERSEY WON'T CONTROL
Arrangements Made to Run
Cars Through. R. R.
Not Behind the
Project.
NORTH JERSEY WON'T CONTROL


Mr.. William McAdoo, once Assistant
Secretary of the Navy and Congress
man from this State, with his law part
ner. Mr. W. G. McAdoo, are making ar
rangements for the Hudson River Tun-
mel Co. to begin with the completion OF
their tunnel, extending from Sixteenth
street, this city, to Morton street, New
York. through which the North Jersey
Street Railway Company's cars will
soon carry passengers to New York.
Mr.. McAdoo. or plain Billy" as he is
affectionately known among his friends in
Hudson county, is senior member of the
firm of McAdoo & McAdoo, Wall street.
His partner, although of the same name,
is no relation to him. They have been
counsel for a syndicate which has Tor
some time been negotiating with the
Farmers Loan & Trust Company of New
York, which institution represents a
large number of bondholders of the Hud-
son River Tunnel Company to reorganize
and finish the work. The reorganization
is now nearly finished.
ssThe NATTER said Mr.. McAdoo this
morning to News" representative, lis
not in such a state yet that / can give
out any statement. My partner has the
matter in hand, which understand is pro-
crossing satisfactorily.
Mr.. McAdoo was in Hoboken today
where it is understood he had long
conference with Col Edwin A. Stevens
and others interested in the project
While the North Jersey Street Railway
Company win use the tunnel it is
announced that it will not, as it has been
- he 4rn11i iro
interest in it, President E. F. C. Young
personally is interested.
Il do not care to talk of my relation
with the new concern, said Mr.. Young,
-'at least at present, can only repeat
what l have said before. that the Hud-
son River Tunnel Company is to put the
old tunnel through and there will be an
arrangement with them by which the
North Jersey Company will use it, AS to
any statement purporting to have been
made by me that / have bought a con-
trolling interest in the Hudson River
Tunnel Company, you may positively deny
that"
Mr.. Young could not say whether the
tunnel company's plans would include a
separate tunnel for trolley cars or notss
but 1t is semi-officially announced that
there will be a second tunnel. An err
roneous report was circulated yesterday
that the North Jersey Railroad Company
had secured 999-year contract to run
electric cars through the Pennsylvania 8
proposed North River tunnel. On this
subject Vice-President Samuel Rea said:
-'The railroad to be built in New Jersey
to connect with the line in New York VII
join the main tracks of the Pennsylvania
lines at some point on the meadows east
of Newark. Steps will be taken forthwith
TO prepare the way so that work may be
commenced at the earliest possible date.
II is not contemplated that any stree-
railway companies will use the tunnels of
the Pennsylvania Railroad as they will be
exclusively for the companys own traf-
fic."
The overtures originally made by the
tunnel company finally assumed the form
of tentative contracts submitted to the
trolley officials for approval Three such
contracts were drafted and each in turn
carefully considered by the traction peo-
pie All three were turned down as being
inimcal to the trolley interests. The
fourth contract was then formulated and
shown to traction representatives. Be
cause of the removal of such clauses as in
the first three caused the vetoes. it was
thought worth while to pass the PROPOSE
ton under the highest official considera-
ton, and for such a purpose special
meeting of the North Jersey Board of Di-
rectors' Executive Committee was called
for Wednesday night.
That meeting was held in Newark and
was attended by A. J. Cassatt. who is
chairman of the committee; President r.
f.. c. Young, Vice President and General
Manager David Young, John D. Grim
minis. of the Metropolitan Street Railway
Company; DR.. Leslie D. Ward, vice presi-
dent of the Prudential Insurance Com
pany and j. Roosevelt Shanley, who took
the place in the committee of his father,
the late b. NJ. Stanley. The only mem
ber of the committee absent was P. A. B..
Widener, of Philadelphia.
The result of the conference was de-
cision to accept the contract. Subse-
quently the instrument was duly execut-
ed. and the work involved in completing
the unfinished tunnel will be inaugurated
as soon as it is possible to make the nee
essary financial and engineering prepara-
tions.
An agreement was also reached under
which the construction of second tun-
mel will within a short time be UNDER
taken. This additional runner Will pe
built by the same company controlling
the unfinished one. or by one which may
be financed by identical interests.
EvactIy what will be the line of the
proposed new tunnel is not yet deternin-
ed. 1t may parallel the first tunnel or 1t
NAV have its eastern outlet further up
Il New York than the terminus of the
first. At all events it will be built for
"
Company.
The consummation Of the proposals of
the tunnel company amounts to the secur-
ing Of means whereby the tunnel COM
pany will be rehabilitated- It is said to
have been a case of the North Jersey
taking hold and giving it life or its dying
lingering death.
The primary purpose Of the deal as
represented to the traction company Is
- r15<1 xx7.71 sr,,s.as q : oz,,adv