New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-06-17

IF the route" the report says. 'unner lbii -
frst-st be awaited of these amounts viii be
increased by S16.652 20 for the first ten years
and by So. 305 for the next fifteen years.
PERIODICAL. REIMBURSEMENT
1.-THE amounts TO he paid to be readjusted
CT fine end of twenty-five years, and there-
after AZ intervals of twenty-five years. If the
c;tv and the railroad company shall not agree
,,non the readiusted rates they are to be de-
termined by the Supreme Court of this state
Summarized the franchise is as follows:
grant by the city in perpetuity, with Perlodic
establishments at twenty-five year intervals
right for a two track road under Thirty-nrst-si-
across the North and East rivers to terminus
in Queens Borough a like right for two tracks
running under Thirty second-st. TO the East
River with : right for additional tracks IN
rThir+1-second-st west of Ninth-ave- and one
additional track between Seventh and f1th
aves in Manhattan: like right for TWO TRACKS
from Thirty-third-st. and Seventh-aVe-' uhoer
-Thirtv-th!rd-st. Queens. with right Tor one
track IN Thirty third-st. between seventh anu
Fifth aves; the right to build terminal sta
tion occupying four blocks, bounded 10y lhIH
frst-st Seventh-ave., Thirty-third-st- ana
%inth-aze; 2 rental at 10 cents per linear foot
o4 single track per annum for the first ten
years and during the next fifteen years at 81
rer annum per linear foot. AS soon as the CITY
is bled TO make the sale the company TO pun
chase Thirtv-second-st between Seventh and
Eighth aves.. and Eighth and Ninth ayes, Tor
STSS6 500: until the purchase IS made rental OF
S3f 600 year 70 be paid. The CITY 10 nave d q
I5en Ipon the franchise and real property or
the company 70 secure the payment OF rental
The company not 70 oppose the construction OF
any rapid transit fallfoaoS MliiOil w io' az
7lallv interfere with it
The committee says the report was without
r,recedent in determining the precise amount
20 renfan but finally concluded that the best
theory TO adopt that % an annual payment
for trackage. and to fix the rate of 81 per foot
DC pStl mile OF track
the underground space occupied Tor a track
being about thirteen feet WIDE ana perhaps
,7tna+een feet in height The committee has al
lowed a reduction of one-half the rate for the
first years
II understands that the railroad company eH-
1,ae1s 10 complete the tunnel within much
shorter time than that allowed by the contract
After the report had been read. Mayor Low
said he would refrain from voting because the
franchise would come before him for official
action after Il had gone through the Board OF
Aldermen. When told that owing to the alb
sence Of Commissioners Jesup and Claf1in his
vote was necessary in order to adopt the report
the Mayor said he would vote for its adoption
raserving the right to withdraw his vote If he
saw 6t when the measure came before him.
PRESIDENT CASSATT PLEASED.
President Cassatt was greatly pleased at the
adontion Of the report and shook hands heartily
with the members of the commission. Mayor
low in discussing the franchise said 10 a Trib-
bune reporter:
This is the first time in the history Of the
city / believe that the city has received such
large sum for A franchise. The periodic read
iustahleness Of the terms practically makes the
franchise a limited one. the Pennsylvania
tunnel is only section Of trunk line system,
and il is doubtful if the city would ever care
N operate it. In that respect it is different
from the rapid transit tunnel. as that is a sys-
lem by itself and the city may see fit TO
cperafe 1t as such at the end of fifty seventy
five years
When the Mayor was asked if the terms of
the Pennsvlvanias franchise would act S
precedent in dealing with the New-York Cen
trail Railroads tunnel, he said:
II DO not think they will, or, at least they
need not as the New York Central is operating
under = franchise il has had for many years.
President Orr issued statement reviewing
the history of the negotiations. and congratu-
lating. in behalf of the Rapid Transit Board, the
CITY on the closing Of the agreement Regard
ing compensation. he said:
II IS on the whole satisfactory. II is not,
am sure excessive. AS citizen and as presi-
dent Of the board I should he glad to receive
even better terms and IL is possible that in the
mere matter of money rental Mr. Smith. Mr..
CSrout and myself might by assuming peremp-
tory position. have obtained better But the
Pennsylvania company made its proposition
openly and frankly. They were entitled to be
treated with justice. The main thing is that