New-York tribune., 1906-06-23
NEW SUBW AY BIDDERS.
GATES And DRAKE NAMED
Plan Fire Cent Expresses from The
BrOnr to COney Island.

rival bidder for the proposed East Side sub
way, running from The Bronx TO Coney Island.
ii was announced Yesterday will present
bids against those which the Interborough Rapid
Transit Company will make It is said unof-
hcially, that John w. Gates and several Western
capitalists are back OF the company and that
the money they will furnish. as well as some
furnished by foreign capitalists. will make the
bid not only possible. but the carrying out of a
contract, if it should be obtained. also possible
Mr. Gates was not at the Waldorf last night
and could not be found. Rumor had it that
John A. Drake is also one of the capitalists in
the scheme.
The new company formed at the Waldorf
yesterday afternoon, where several of the capt.
talists met TO discuss the financial plans The
announcement OF the formation of the company.
as far as IL went, made last night by Jo-
seph Caccavajo, consulting engineer of The
Alpine. Mr.. CaccavaJo refused TO say who the
fnanciers We're but merely said they were West
ern and foreign capitalists. Asked if Mr. Gates
or Mr.. Drake were interested he refused TO
deny it
The plans for tho East Side subway. running
from The Bronx to Coney Island. have been ap-
proved by nearly all of the city authorities nec-
essary TO make them operative. A commission
has approved the plans. and the Appellate Di-
vision Of the Supreme Court is expected to re-
port shortly. undoubtedly favorably on the re-
port submitted 10 It.
The plans. in brief. call for subway from
The Bronx down the East Side. either through
Third or Lexington avenue. swinging east TO the
Manhattan Bridge. It is planned to run the cars
TO the surface near the bridge and cross the
bridge. and then underground again. to run up
the extended route OF Flatbush avenue to Fourth
avenue and then TO Fort Hamilton. From the
latter point the plans call for the subway
branching off TO Coney Island
Mr.. Caccavajo said that the capitalists back
OF the new company are IN favor of a branch
line from about 33d street, running west the
Pennsylvania Railroad station This line, he
said. may be in form Of either a moving plat
form or a regular branch electric road.
He explained that the capitalists have decided
that trains express schedule shall run from
The Bronx TO Coney Island In from thirty to
thirty-ffve minutes and but fare Of five
cents shall be charged
The estimated cost of this subway is $780,
100000. and Mr.. Caccavajo said that the entire
amount is ready If a bid should be secured. He
said he had been commissioned 10 go ahead with
preliminary plans for the bids. so that bids may
be made as quickly possible after the plans
are approved and bids advertised for.
The Pennsylvania Railroad estimates that It
VIII carry 35,000O0O people in its subway routes
each year. Besides this. the new company
formed yesterday is planning to cope with at
least 100000 more in case the New York
New Haven Hartford Railroad should secure
a tunnel route from Long Island City as is con-
templated. and gives up fits Grand Central Sta
tion connections By branch line across the
city in the neighborhood Of SD street, it was
said, this enormous number of passengers would
be handled properly.
"'All empowered to saw" Mr. Caccavaio
said, lis that the capitalists back OF the scheme
are absolutely responsible in every way. and
not only have finances enough. but TO spare
They ready and willing to enter in COM
petition with the Interborough, and we are only
waiting to find just what route is decided on,
whether Third avenue Lexington avenue. be-
fore making plans and arranging for the
bids"
Mr. Caccavajo has been consulting engineer
for several property owners associations along
routes OF proposed subways. and was also in
terested in the engineering OF the present Inter
bOrV subway