The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-12-04
TO HURRY BIDS ON SUBWAYS.
BOARD or ESTIMATE WILL Pass
on THREE ROTTES.
Rapid Transit Commission viii Then Get
Figures on Building, On Operating and
ON Building and Operating the Lines
1T VIII Also Test the ElsberE bill.

At a conference yesterday between repre-
sentatives OF the Rapid Transit Commits
sion and of the Board of Estimate il was
decided that the board at next Fridays
meeting should approve of three of the
score or more of new subway routes which
hay been planned by the commission.
The three lines which will be passed upo
will be a new line running from the Battery
through Seventh and Eighth avenues, the
Lexington avenue extension from Forty
second street of the existing subway and
the route beginning at Pelham Bay Park,
continuing under Third avenue, Manhattan,
over Manhattan Bridge and then to Coney
Island 10y way of Fourth avenue, Brooklyn.
The specifca tons for these routes are so
nearly completed and the preparation of
the form of contract so we'll advanced that
it was said yesterday at the Offices of the
Rapid Transit Commission that if favora-
BILE action is taken on Friday by the Board
Of Estimate bids can be advertised for not
later than January Is.
The probability Ia that three forms OF
bid will be advertised. One will call for
offers for the operation and construction
of the new roads, a second for construction
alone and the third for operation in the
event OF the city deciding to build the sub
ways itself.
There is little possibility, however, OF
the city building the roads, lthoug IL IL
known that Mayor Mcclellan is OF the
opinion that the financial resources OF the
city would justify the municipal govern
ment in so doing.
The Mayor has figured it out that the
borrowing capacity Of the city IL now more
than $3.50, 900, go and this margin would
be increased by the new assessments which
will be made public next January. Comp
troller Metz differs with the Mayor az to
the extent Of the City's borrowing powers.
Mr.. Metz asserts hat the margin left upon
which TO borrow ia only about half what the
Mayor figures it at. The Comptroller insists
that bonds authorized for public improve
ments not yet begun should be included
in the city's liabilities, even though those
bonds have not been issued.
While the Mayor thinks that these pros
pective improvements should not be a lien
on the city's resources il is understood
that he will not press that opinion and that
he will yield to the Comptroller.
This would mean that the city could
not bind itself TO build three subways, the
cost Of which is estimated at SIPS, OOO, 600,
Unless therefore bids are submitted for
the construction and operation OF the new
roads by private capitalists the new lines
will have to wait until the Elsherg bill Is
amended by the Legislature. Under the
bill the contract for the construction Of
subways in the future limits the period
OF operation to q term OF twenty years
with the privilege OF renewal Tor one more
term Of twenty years. at the end OF which
time the roads revert 20 the city. II is
the opinion Of most Of the members OF the
Rapid Transit Commission and OF the city
authorities that under the conditions Of
the Elsherg bill it will he impossible to
induce the building Of the roads by private
capital.
It is for tho purpose of testing this short
term operating clause hat the commits
sion 10 anxious to advertise for offers for
the building of at least three of the pro-
posed subways early in January. Then
h it should he found that bids canno Ia
obtained under the provisions of the Els
berg bill efforts will he made at the coming
session of the Legislature to have tn
measure so amended as to provide for a
Atty year operating period with a twenty
Ave year renewal clause.