New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-27
THE QUESTION OF NEW sUBwAYs.

The refusal OF the InterbOrOugh company to
bid upon the East Side and West Side subways
Is interpreted as a strategic move. As no rival
is likely 70 step IN and take those two valuable
lines. the marlborough can afford to wait In or
der 10 make as favorable terms as possible with
the city. And, while the company Is waiting Il
Is by no mere coincidence that big gathering
OF indignant property owners Is scheduled TO
descend from The Bronx 10 tell the Rapid Tran
sit Commission how imperatively necessary to
that part OF the city are additional tracks on the
Second and Third avenue elevated railroads
The protests OF the long suffering Bronx will
be all the more impressive In view OF the re-
fusal OF the InterbOrOugh TO bid We must
shave additional tracks on the elevated roads
Hlf subWayB cost too much 20 build" etc.
The figures presented by the InterborOugh's
committee on the cost OF building the projected
subWays are certainly impressive. Perhaps the
fact that they were TO accompany a refusal to
bid made them a little less conservative than
would have been the estimates Of an intending
bidder. cost OF twice as much mile as the
cost OF the present subway almost takes the
breath away, and it certainly will add point to
the indignant remarks Of the long suffering
Bronx. But really the new subway, II, when we
emerge from the realms OF strategy. IL does
prove not to cost quite twice as much as the
present one viii be very expensive undertak-
ing. The terms OF the contract for the first
subway were necessarily as attractive as posi-
bic 70 capital. Il was novel venture and bid
ders were shy. The terms OF the new contract
are strlcter. and IN other ways the cost OF con-
EtructiOn has been increased The new subway
IS to be fourteen instead OF thirteen feet deep
certain practical considerations made this seem
adFisable-and the added cost OF excavation
win be considerable Stations under the new
contract win be on private property Instead OF
81 the streets. and they viii be expensive. Ease
ments under the new contract VIII be paid for
by the contractor; the city paid Tor them under
the old contract Physical damage % AUDITING
property under the new contract Is placed upon
the contractor; this was not accomplished fully
under the old. The cost OF construction being
On these ways greatly increased and the rate
Of Interest on bonds being now high il becomes,
indeed, q question whether there Will be enough
profit IN operating the new subway 70 attract
capital
But the situation is by no means hopeless
Mr.. Sh0nfs 10 his letter intimated a willingness
10 compromise with the Rapid Transit Commits.
sion, and, while nothing was suggested az %
terms, il is a fair presumption that the pet
VrOiect in which The Bronx is so much inter
ested, the third tracking or the Second and
Third avenue elevated roads. will figure prom
lnently IN the offer OF compromise. This Is a
fopic IN which the marlborough is vastly more
interested than Sc IS IN new subways. The third
tracks would cost comparatively little 10 con
struct, and the earnings OF an elevated track
would be Just great Sc the earnings Of sub
way track. While the percentage OF earnings
Oh an investment in a subway must be small
on an investment In third track upon struet
ups already u s1dstencs II woulc b very large