New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-05-18
RAPID TRANSIT PROSPECTS.

Now that Governor Higgins has signed the
Elsberg bill, the public may have an OppOrtu-
nitv to learn how far either the friends or the
opponents of the measure have been "bluffing''
in their predictions of its effect. Those who
have urged the most radical restriction Of priv
ileges for franchise holders and have been loud
in their laments that Senator Elsberg could not
secure a majority in the Legislature for the ex-
IRENE provisions of his earlier bills have been
eager to disarm all who dared to question the
practical wisdom of their course with assur-
ances that they could obtain plenty Of indie
pendent bidders for the restricted franchises
who would give the people transit facilities far
superior to anything Mr.. Belmont offered. On
the other hand, Mr.. Belmont has let it he under
| stood that If the Esberg bill became law it
would make utterly impossible any extensions
! by the present tenant of the subway. AS that
| tenant is in a better position to bid than any
! body else, such threat implies that nobody can
afford to build on the terms prescribed. So we
have two perfectly opposite views to be tested
! by events
! We have not been inclined to take too seri-
Ously Mr.. Belmonts threats of no more subways.
Even if it should prove much easier to talk
about independent capital than to provide 1t
and the city should still be forced to place its
chief reliance on the PETERBOROUGH company, we
have felt that the terms offered by the Elsberg
bill would guarantee enough profit to induce
their acceptance wnen 1t was evident that no
better could be obtained. The InterbOrOugh has
naturally done its best to convince the public,
the Legislature, the Mayor and the Governor
that subwayS could not be built under this law.
1t would of course prefer seventy-five year to
forty year franchises. It's future course. how
ever, will be determined not by it's predictions,
but by its necessities. It will take such fran
H. ;&c A;oc
make good their promise and it has to face
rival bidders. II is only WISE nevertheless,
to recognize the plain fact that Mr.. Belmont is
in much better position TO continue "bluffing'
than are the seekers for independent capital.
The people are bound 10 have subways on
some terms If the Elsberg bill goes so far as
to forbid building n sound economic basis
strong pressure will certainly be eXerted for it's
modification Mr.. Belmont, therefore, can afford
TO hang of, avoid all enforced improvements of
the present service and wait for an impatient
people to ask him TO make his own terms. Those
who wish TO secure competition in the traction
business. on the other hand, must now make
good" or confess that I'm urging Il law much
more drastic even than the one now placed on
the statute book they have acted In ignorance
II not In bad faith, and admit that they have
strengthened the monopoly instead Of weakening
H. The gentlemen who have talked about Or
ganizing independent companies. therefore
should arouse themselves to serve the city and
70 vindicate themselves against reproach as
reckless boosters. The only way TO insure new
supways under the new lazy, whether built by
an independent company or as extensions Of
the present subway. is by the provision of strong
ana attractive bids through those who have
utseu tiid the terms of the Glsberg bill were
liberal enough 20 attract them. Mr.. BeImont
"Il Hon surrender the field without a struggle
and will be forced 70 meet the offers OF r4yals.