New-York tribune., 1906-11-20
AUTO COURSE PLANS.
Parksoay TO Be Fifty Miles Long
$500 900 Subscribed.

At meeting of the Long Island Motor Park
way. Inc. at the Lawyers Club yesterday A. r.
Pardington was elected second vice-president.
This is saleried position. He will also act as
general manager. more capable man for the
post could not have been selected. few men
have done more for the welfare of automobiling.
He will open office in the Night and Day
Bank Building next week.
c. T. Barney and Ralph Peters were added to
the finance committee The other members
are H B. Hollins. William K. Vanderbilt jr..
and Jefferson De Mont Thompson Mr.. Barney
was chosen chairman and meeting of this body
after the regular meeting named the Knicker-
booker Trust Company as depositary, and from IL
blanks may be obtained. Subscription blanks
will be ready tomorrow.
1t was reported that S7o0OO had already been
subscribed toward the building of the highway.
enough TO take of ali the preliminary work.
Two more men will be named directors max
ing a total of twenty-six. One of these will rep
resent the American Motor Company Manu-
facturers' Association and the other the I'M
porters Salon. Among those who attended the
meeting were William K Vanderbilt. jr.. August
Belmont, Colgate Hoyt Dave Hennen Norris
Jefferson De Mont Thompson and c. 7. Barney.
The prospectus of the association was an
nounced follows:
The Long Island Motor Parkway. Inc. will be
organized and incorporated for the purpose of
acquiring on Long Island a right Of way ap-
proxima tely one hundred feet wide and fifty
miles long. Beginning at point near the city
line of greater New York, the parkway will
have its eastern terminus the shore OF
Peconic Bay Suffolk County. On this right of
way there VIII be constructed automobile
parkway. properly fenced TO protect users. It
is proposed TO charge for the use of this park
way and establish reasonable regulations TO
its use The revenues from this and other
sources are conservatively estimated to be
enough to more than pay all fixed charges.
known and estimated The sources Of revenue
Will be as follows:
Ca) Charges on an annual. semi-annual. quar-
terly, monthly. weekly. daily and hourly basis.
fbD Admission sale of seats, parking places etc,
IN connection with events similar to the for
the William K Vanderbilt. jr., Cup (c) Testing
Of cars by manufacturers. Cd) Match races,
economy tests, nonstop tests. twenty-four hour
contests, etc.
The Long Island Parkway Inc. will offer
manufacturers. agents and others the oppor-
tunity they greatly need of trying out their
products under true road conditions, where
there exist no speed regulations. Buyers or
cars at the present time find ii difficult to test
cars to know that their requirements
have been compiled with. This particular feat
appeals 10 engineers and designers Of
racing and touring cars as to call forth unani-
nous expressions of approval and support. All
railroads and highways Will be crossed above or
below grade
The capital of the Long Island Parkway, Inc,
IS S2,5oo,OD, divided as follows: Twenty-Five
year gold bonds at 4 per cent secured by a
mortgage on the property $500 each), $500 900;
preferred stock, in shares of 500 each, nom
cumulative. at . per cent. S1000eoo; common
stock. in shares Of 500 each, S1.O00,0O0. It is
proposed that subscribers to the stock shall
underwrite IN blocks Of one bond. $500 ten
shares of preferred stock. $1,000, and receive a
bonus of five shares Of common stock $500.
The officers are as follows; President William
K Vanderbilt jr.; first vice-president Harry
Payne Whitney; second vice president, A r.
Parding1on; treasurer. jefferson De Mont
Thompson; plan and scope committee William
K. Vanderbilt, jr.. Ralph Peters. Dave Hennen
Morris. Jefferson De Mont Thompson, A. r.
Pardington and Dean Alvord; directors and cor
porators. August Belmont. William K. Wander
bilt, jr, Colgate Hoyt, Levi c. Weir, Frederick
G. Bourne, Ralph Peters Dave Hennen Morris
J. Adolph Mollenhauer, August Heckscher W
g McAdoo, c. 7. Barney, Mortimer Schiff John
Jacob Astor, Harry Payne Whitney. Clarence
H Mackay. H. 3. Holins, Anton G.. Hodenpyl
A R. Pardington Jefferson De Mont Thomp-
son. John Farson, Howard K Burras Dean AL
word, 6. T. Davis. jr.. and E. r, Thomas