New-York tribune., 1908-01-09
BELMONT TRIES TO SELL
CITY NOW CONSIDERING.
Transfer Problem Up an Steinscay
Tunnel Deal.

Negotiations have already been begun on the
initiative of August Belmont and his associates
in the construction of the so-caIled Steinway
tunnel which runs under the East River from
East 42d street. for the sale of the tube to the
city. Theodore P. Shonts. president of the inter-
borough Rapid Transit Company. said on Tues
day that steps had been taken looking to the
opening and operation of the Steinway tunnel
and it was learned yesterday that the Inter
borough people had made proposition to DIS
pose of the property to the city.
At the first conference Mr.. ShOnts and Will
lam Barclay Parsons, chief engineer, presented
the proposition to Corporation Counsel Pendle-
ton and Nelson p Lewis chief engineer or the
Board of Estimate and Apportionment- IL Is
understood that the interborough people want a
considerable advance over the $S,000,00O which
they estimate the tunnel has cost them Presl-
dent Shonts had a long conference with Chair-
man Wilcox of the Public Service Commission
on Tuesday but Mr.. Wilcox said yesterday that
the commission had not been engaged in negoti-
atons for the sale of the tunnel TO the city, Or
would it be.
Though terms of sale have already been tenta-
lively discussed, the Board of Estimate ana Ap-
portionment will insist that the price 1or the
tunnel be based the verified actual cost Oh
construction. Definite guarantees VIII also pe
demanded from the Interborough people that
Will insure o-Cenl IdTe 10 u"eAieiS AZ $780,
from Manhattan to their homes
While the terms under which the tunnel VIII
be leased for operation to the Interboroush'
should the sale to the city go through, nave iio'
been gone into in detail as yet, 1t is propdpie
that an arrangement similar to that py "hio"
the company operates trains on the 6looAi'
and Williamsburg bridges Will be the pasi- o'
the lease.
CORPORATION Counsel Pendleton and ChleI Ell
sineer Lewis held conference yesterday Oh 'le
Tronosal that had been submitted by the Inter
borough officials A good deal of attention Is
being given to the question of the fare to De
charged by the operating company shoulo INC
city decide to take the tunnel After the CON
ference Mr.. Lewis intimated plainly that the
nronosa1 would not be considered at all unless
this all important matter could be settled 10 the
satisfaction of the people who would use 'ie
tunnel He said he doubted whether the people
of Queens would be willing to pay a lo-ceh' Aai0
and that the city would probably stlpuia'e 'ia'
one scent fare only would be asked Tor passage
through the tunnel from Manhattan and trans
fer to connecting lines in Queens and wee versa
II is also likely that the question OF TRANSFERS
from, the tunnel to the lines operated by lhe III
scarborough people in Manhattan will be one OF
the conditions that will be discussed before any
recommendation in regard to the purchase OF the
-, =; wade to the Board of Estimate and APP
portionment.
The opening of the Steinway tunnel 10 the
,,,b1ic has been deferred for a considerable
neriod owing to the discussion raised as 10 the
validity of the franchise to operate 1t held py
,be Belmont people. Two suits brought py the
citv are vet undecided. In one OF them the
validity of the old Steinway franchlse' WHICH
August Belmont bought for $500, is attacked
The other is based the citys claim that the
franchise expired when the company fahen 10
complete the tunnel, agreed, by January l.
1907.
AS. according to Mayor McClelians recent
statement the city's debt mourning capacity is
only s36 coo 900, the proposition to buy the tun-
mel for a figure near the cost of building set py
the Belmont interests may arouse some oppo-
sition AS the taking of the tunnel by the
city would decide the question about the valid
ity of the franchises and would mean decided
" beneficial extension of the cltys trahsporta-
ton facilities, objection to the expenditure
might be overcome if the terms of the SAFE
were not to the disadvantage of the city.