The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1906-04-25
All Differences Between the
Public Service Corporation
and the MoAdoo Tunnel
Company Have Been Ad-
justed
AGREEMENT is SIGNED
PENNSYLVANIA RAILROAD TO
CONSTRUCT A TRANSFER STA
TIoN AT HARRIsoN-GossIP
OF THE LINES

AAC~N al hARRlSO1N-0OtS
OF THE LINES
Peace now reigns between the Public
Service Corporation and the McAdoo
Tunnel Company. An agreement settling
all differences has been signed
According to this the injunction secur-
ed on behalf of the bondholders of the
white Line" one of the subsidiary com
panes of the Public Service, has been
dissolved.
This will permit the tunnel company to
proceed with the work of the western
terminal of the north tunnel in Hoboken.
which was well under way when sui.
in Chancery to restrain the tunnel cont
pany was brought by the Fidelity Trust
Company as trustees for the bondholders.
The tunnel company, on its part. has
agreed to abandon it's proposed surface
lines in Hudson County, leaving the local
transit field there open to the Public
Service Corporation.
The agreement which has been for
mally executed was arranged at the same
time the Pennsylvania Railroad purchas-
ed from the Public Service the Park
place property, which the latter had ac-
quired as a. Newark terminal for high
speed line between Newark and New
York The Pennsylvania had large in
terests in the tunnel company and was
opposed to any effort on the part of the
Public Service to interfere with the high
speed Straffice between Newark and the
metropolis.
President MeCarter, of the Public Ser
vice Corporation, issued the following
statement regarding the natter
Negotiations which for some time
have been under way between Public
Service, the Pennsylvania Railroad Com
pany and the McAdoo tunnel interests,
were consummated yesterday afternoon
at the office of the Public Service Cor
poration, in the Prudential Building, by
the signing of various agreements be
tween the respective interests.
'By these agreements Public Service
has transferred to a real estate company
owned by the Pennsylvania Railroad
Company, its large terminal site on Park
place, adjoining Proctor's Theatre.
1.-THE Pennsylvania Railroad and the
McAdoo tunnel interests jointly agree to
cooperate in the construction and op-
Grafton Of high-speed electric line that
will give rapid, direct and frequent ser
vice from Newark and Hudson County to
the several projected terminals in Man
haitian, at rates Of fare consistent with
rapid transit development.
"Public Service Corporation agrees to
operate it's surface systems, both in Es-
sex and Hudson counties, so as to facili-
lules uuC Llduolcl VI PdsSoSASSAS "a SNA
yeniently as possible to the stations of
the high speed line. In view of the CO.
operation thus provided for, it is deemed
unnecessary to construct the tunnel and
high speed line contemplated by Public
Service, or the proposed additional sur
face lines in Hudson County laid out by
the tunnel interests.
rhe Pennsylvania Railroad Company
will construct large transfer station at
Harrison, whore all of its trains will
stop, and which win be the point where
the motive power will be changed from
steam to elecsr city.
'sThe line should be finished and in
operation not later than 1908. The dis
tance from the Park place terminal to
the terminal at Church and Cortlandt
streets, New York. should be covered
easily in fifteen minutes. and twenty-five
minutes should suffice for the journey
to the uptown terminal.
.The various interests represented
unite in the belief that the transporta-
tion. facilities afforded by the high speed
line, working in cooperation with the
surface systems, will produceNan enor-
nous increase in population throughout
the territory served"