New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-12-05
"a PAPER RAILROAD
BO4RD DENIES REQUEST.
Kin gsbrdge Com pany SAID to Hare
Cost s., 800 900 for Three Miles.

The Public Service Commission refused yester-
DAY to approve what Commissioner Eustis called
A paper agreement between the Third Avenue
Railroad. represented by Frederick W Whitrldge'
receiver. and the kingsbridge Railroad CoTlPaH9'
a paper" road.
It appeared from the investigation of the COM
mission that this Kingsbridge company was an
Sther example of the finance displayed IN the var
Gus traction projects in this city in years pas pas
l. has capital stock issued the amount OF seo'o
and an unfunded debt of nearly s2,50occo, alleged
70 have been incurred for the construction OF 5l=S
miles of double track, but representing sum l0
in excess of the fair cost of such construction
The road was built originally by the Third ave
nue. company which has controlled K ever slhce
IN reach its large car barns and power house IN
esth street. The franchise, which was passed nS
the city in 1900 covers that part OF hlnssoIlose
Road from 1e3d street and Amsterdam avenue anu
that part Of Broadway from Manhattan street
north to goth street in The Bronx. across the
Harlem Ship Canal
The franchise also covers route in The BRONX
from West 23ath street and Riverdale avenue
northerIv to the Nonkers city line. The only par
Of the road that has ever been constructed Is
from, Amsterdam avenue AZ 163d street along
Kingsbridee Road to Broadway and l69th street
and up Broadway TO and across the brldge Over
the Harlem Ship Canal TO 225th street Inc com
pany was incorporated in 1895 with an autholzeu
capital OF s. .0n0eoo eighty-six shares OF "liio'
were subscribed for.
The exclusive right to subscribe for the remain
ing q14 shares which given to the Third ave
nue. company, was never exercised men Coi
missioner Erstis asked one OF the ofhclals OF tl
Third Avenue why they built the track uhder u.e
r,sn,a IF another company he was told; ms
stretch of road mad to he built under a llill'eu
franchise Of twenty-five years. We 90 not "zi1
TO mix up the corporations with temporary rts".s
with those with permanent rights Inc hl"sS
bridge road owns nothing except the lIdiiNl'97 80
track and some 81 Is
Some details of the way in which things We're
managed in the old days before the Pubic SerFl0e
Commission appears in the report Of comm
sioner Eustis as follows;
In the reports Of 1903 there appears TINS 400.
tfonaI item: Amount expended for constr " l1' +
Of road by Third Avenue Railroad oonpan , NO.
e rs IA In reference to this last item Of add
.,,-or IF Tho Interllrban Street Railway Company
STATED on peCan Der O. 1903. in letter to me boaiu
IN reference TO the amount Sl.2S5 73I o. we re-
gret say that We cannot separate nus ZEN bf
details nor could say that the road was nuiIl
og con I'D rbrd Avenue RaiToad Company books
turned over 10 this company at the Tune OF lie
In the reports of ten4 and 1875 this item appears
under the description Of 'reconstruction OF the
old road, and in the report Of 1913 II 2Ppeas +b '
construction of old road The atteThoI OF t eae
New York cit? Railway company 45a4 Psi1 res
Commissioners that it might be corrected TO READ
reconstruction # old road
The evidence produced by Mr.. Robinson on be
half Of the receiver was that there never was
any old road u reconstruct
The agreement that the commission was asked
10 approve provided for the use of the tracks of
-ba EinFshridCe company by the receiver Of the
Third Avenue company condition that the re
cever pay all the taxes OF the Kingsbridge com
pary maintain its tracks in good condition pay
the Kfngsbridge company $500 year and reserve
10 that company the right to run a limited number
If cars not to exceed daily. end that trans trs
shall ne given and received between the companies
commissioner Eustis characterized the statements
as all paper statements and declared that it is not
.t,s I-f,,-c l,ri 6re
own or operate any cars shall receiva any pay
ments from the Third Avenue company.