The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1902-02-12
THE GREAT
| TUNNEL PR0JEGT IS
Both of The North River Transit Enter
prises Figure Largely in the News
From New York's Capital
R. I. CASH. R. R. Bill
Corporation Files Articles Great Railway Company
at Albany to Build Seeks Legislation to
and Operate the Take Its Ter
Trolley Con- minal to New
duit. York.
CAPITAL $8, 100000 TWIN RIVER SUBHAYS
Mortgage for s7,oooooo to Amendment to the New
Secure Per Cent York Charter to Make
Bonds Redeema the Great Work
BILE at 10 Possible
DETAILS OF THE PROJECT MAYOR LOW FAVORABLE
Serious Engineering Dif Complete Connection Be
ficuIties Operate Established With Long Is
by Electricity. land and Eastern Lines.
DETAILS OF THE PROJECT
No Serious Engineering DIFF
ficuIties = To Operate
by Electricity.


After much delay the Incorporation of
the Company to rebuild the old tunnel un-
der the Hudson River. from Jersey City
to New York, was effected yesterday. II
is officially called the New York and
Jersey Railroad Company and its pur-
poses were as follows, outlined by Mr. w
G. McAdoo. counsel to the company =
THE New York and Jersey Railroad
Company was incorporated for the pur-
pose of completing what is commonly
known as the old Hudson River tunnel
The plans of the company have been ma
tured after long, careful and thorough
consideration, and as result the tunnel
will undoubtedly be built. The terminals
on both sides of the river have been ac-
ouired. The statement in the newspapers
that the terminal station on the New
York side will be in the block bounded
by Christopher, Tenth, Greenwich and
Hudson streets is correct. The tunnel
cars viii come to the surface In this sta
tion. so that transfers of passengers may
be made to both the elevated and ths
METROPOLITAN lines in an easy and con-
yenient manner. On the New Jersey
side, connections will be made on the sur
face with the street railway lines.
aThe tunnel will be operated by cleo
tricity, and the most approved methods
and appliances win be adopted. MIR. Chas-
M. Jacobs the engineer reports that the
completion of the tunnel and the execu-
ton of the plans of the company are IN
all respects feasible and that the line can
be completed within eighteen months ar
ter work begins. The officers and dlrec-
tors of the company win not be disclosed
until after permanent organization.
.The present tunnel has been built for
a distance of 1900 feet. It is in good con-
dition and entirely available for trolley
purposes. Only 1850 feet remain TO be
| built under the bed of the river, besides
the approaches on both sides. There have
never been any serious difficulties from
an engineering standpoint in the way OF
the completion of the tunnel The only
reason why its projectors did not com
plete 1t in the first instance was their fai-
lure to provide sufficient moneys Tor the
purpose. No such error will be made this
time.f
aAll the Hudson Tunnel Railway Com
J pany's tunnels and lines of railway AZ
ready constructed, or now In course o.
construction and which said tunnels are
known as the north and south tunne-s'
extending from New York City to Jersey
Lefty, including all sidings, branches
rights Of way. depots, workshops. engine
houses, car houses. freight houses and
! other buildings, structures and terminal
| facilities, with the lands (not exceeding
(, $4,000 square feet in New York City3 ap-
pertaining to al the same and ali rolling
stock, machinery. etc, and all rights ana
franchises which the company has DC
CURED
| Tho capital Of the new corporation IS
IS. 500, 900. divided into 5000 shares. Of
which 5000 are shares of non-cumusative
| 8 per cent. preferred stock and 5000
shares common stock, each share to be
of the par value If 500.
| The directors are Charles Howland
Russell. Henry L. Sprague. F. b Jen-
nings, Howard Van Sinderen, Allen Ward
we'll Winfred r. Denison, Charles w.
King and Robert c. Maroney OF New
York CITY; William III Stevens Edward
r. Green and c. Roy Bangs, Of Brooklyn;
Hall Park Mccuslougfis of North Benz
n.ngton. VI; Nathaniel H. Kennedy Of
| East Orange.
A mortgage Is to be Issued ~ the new
lscorporation to secure an issue Of not ex-
coed ng 100000 first mortgage bonds 80
bear s per cent. interest and to be re-
deemable AZ ITO per cent, and accrued in-
i terest Of the mortgage $4 20 IS to be
1 delivered Immediately to the 1oxnmiftee
having IN charge the Sale oY bonds, notice
Sof 4hich saie IS to De publ shed liz Isoi5+
Z don and New Yofk CItfs hS kena4inlnG
4 4 40 o1 tl1e bonds sfe u fe6Sxy61
4z6T III 6t6z tfu<ff66 6f {{I 81 r n IN 4 11i