The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1901-02-19
CIFT 7 TO The CITY
P. R. R. Decides to Turn
Exchange Place Over
to the Jersey City
Government.
Mr.. 3. +. c. YOUsG'S GOOD WORK
Mr. F. L. Sheppard Talks to
a "News" Representative
of the Proposed Change.
Mr.. B. +. C. YOUsG'S GOOD WORK

It will be gratifying news for the pub
tic to learn that within very few days
the Pennsylvania Railroad Company will
dedicate Exchange Place to the city. This
has bene brought about chiefly through
the efforts of President E. F. C. Young,
~of the First National Bank, who has for
some time had the project in view, and
has held many conferences with the
railroad authorities concerning it.
Exchange place belongs to the Asso-
ciate of the Jersey Company, which leased
it to the p. r. R., which virtually is the
owner of the fee.
Hitherto the city owned the south side
of the street, sidewalks and deeds for
property were so made out By the gen.
erous action of the railroad company the
abuttink owners will have perpetual ac-
cess to their property, and the care and
maintenance of the street will be under
taken exclusively by the city. There is
however, a string, and a very proper one,
to the gift. While giving the land to the
city the rights of the railroad company,
such as free access to their ferries and SO
, forth, must be preserved.
Speaking to News" representative
about the dedication, Mr.. Young said, to-
day
Eyes for a long period I have been in
terested in having this done and l think,
nay l am sure it will be to the interests
of Jersey City, which will now control the
street to the ferries. have held con-
ference with the Pennsylvania Railroad
authorities who have been very consider
ate in the matter and after few details
ar a fa1 CO raj in a
very short time the dedication will take
place.
Mr.. Frank L. Sheppard, general super
intendent of the Pennsylvania Railroad
Company for this eastern district, was
also interviewed today by News" rep
resentative. He smiled when the subject
was broached and remarked
"Mr. Young's statement covers the
whole subject. I may enter into few
details, however, by saying that the ow-
nership of Exchange place by the Asso-
ciates of the Jersey Company was a very
crude arrangement. The dedication, as
Mr.. Young says, will take place provided
the property owners and the city authori-
ties will make the application in which
they will signify their consent to the rail
road company reserving such items as are
not essential to the city's interests in the
Place. That I understand. is now under
way.
What do you mean sir by. the items
reserved by the company" Mr.. Sheppard
was asked, to which he replied
mean by that phrase the existing
street railroad and trolley lines and any
other encnmbrances which might inter-
fere with the companys interest in main
tanning and open, free and uninterrupted
access to the ferries. In my udgmjent
the interests of the citizens OF Jersey City
and the Pennsylvania Railroad in
preserving such free approach to
the ferries are identical and we
are I think in harmony on that point. As
| previously said, there have been inter-
views with the Street and Water Board
and property holders touching the making
of the application and the consequent ar
rangement of terms between US, 30 as to
further the matter to a speedy complet-
ion.''