New-York tribune., 1907-01-18
LEXINGTON AVE. SUBWAY.
Terms of Proposed Contract-Con-
tractor Must Deposit $1,000 900.

The bidder for the proposed new subway
the Lexington avenue route will have to de-
posit cash approved securities in the sum
OF 81 0SOOO0 as a guarantee of his determine
tion to carry out his building contract. 1t Is
estimated by the Rapid Transit Commission that
the new subway will cost $50 492 800 and the
amount of the security represents about S11 per
cent of the cost of the building of the subway.
The committee plans and contracts yes
terday reported draft of the contract TO the
board The committee says: This contract is
OF particular Importance. because If approved by
this board, the Corporation Counsel and the
Board of Estimate and Apportionment, it will
a model for the contracts for the Sew
enth Eighth and Third avenue routes in Man
haitian and the Fourth avenue route In Brook
lyn." The report says in part:
AS proposed by this board and required by
resolution Of the Board Of Estimate and Appor.
tvesrst. for construotion alone. and, second. for
In general way the contract follows & the form Iao. 81
The following viii show some Of the principal feat
ures In the proposed contract:
SECURITY.
The contractor is required to deposit in cash or
he BIDS for the construction Of the entire road. with
all s T9qtes to ooa ana ep s sse Is aboa
per cent on cost The deposit will be returned to
the contract is made for only part OF the road.
the deposit will be proportionately less
bond for ho VI" am0an SG
is wSsn e s rosa 7. oS ef 4 Ss
operation. the bond will continue in force to secure
have 9r rent en ec upon tSe
by the contractor In case the contract covers oper
further ssourty 70 per cent of @ the
% % the the TR T eed 6e W the city
II per cent security on the cost OF construction.
DIVISION INTO SECTIONS.
lad {ptn
parts. and contractors may bid for all or any one
or more Of them The connection through & tZd street @
bid for alternative for the construction OF the
IN the section last Mentioned it proposed to pro
vide now for one addtjoaal track through o 9Stn
vide tor the crosstown connection contemplated on
Include the construction OF tracks and terminal IA
Ctes In Greenwich street and the Battery south OF
Vth Of the Seventh S and Eighth f avenue E route
PIPE GALLERIES.
The contract has been prepared , SO as TO provide
OF the Lexington avenue route: except the connec-
ton through 42d street from Lexington avenue to
Fourth avenue. and except loop in The Bronx
LABOR LAW
Eight hours shall constitute ute a days LAYS work. and
ABUTTING PROPERTY.
The contractor will be liable directly TO property
TsTt or iI to that of 81, and the
city IS fully Unidentified COR any claim against IT.
STATIONS
this board on December a. except that the station
at Fifth avenue and 18th street is omitted. The
station at sith street will be moved down nearly
as far $50 street.
LEASE
The term Of the lease proposed Is for twenty
years, with a renewal at the option of the con
tractor, for twenty years terms 20 be
fixed BY agreement or by arbitration within two
years before the expiration OF the first term. The
lease Will begin when any part of the railroad ~
ready for operation.
The rent will be the interest paid by the CITY On
it's bonds plus l per cent All bonds whether
issued for construction for the purchase OF land
included in making up the computation OF rent
EQUIPMENT.
The equipment will INCLUDE not only rolling stock
rails, ties and ballast.
ADVERTTSEAfT NTS.
Inc use OF the railroad for advertising purposes
and for carrying o1 any other business than that
Of operating the railroad is prohibited. but the saIe
OF newspaper and periodicals may be permitted
OVER OF BOARD To ORDER CHANGES IN
METHODS OF OPERATION
In order 10 remove doubts TO the precise power
OF the beard. clause has been inserted by
which the board may order the operating company
10 add - the rolling stock make changes in
otherwise change the mode OF operating the rail-
road.
TRANSFERS.
Each bidder must submit a list OF the roads with
which connections will be made and the terms OF
the transfers proposed to be given
Before finally fixing the terms OF the proposed
contract the commission will hold n public hear
ing on February J.