New-York tribune., 1909-03-03
FOR PRIVATE CAPITAL
To BUILD NEW SUBWAYS.
Chamber Of Commerce Committee
Trges Non-MunicipaI Construction.

II. special committee appointed by the Chamber
- Cor,rlerce November ! last to investigate
lid transit conditions in New York City has
,rIsred lis work, and will present its report At
=. regular meeting Of the Chamber tomorrow.
-. conclusion arrived at by the committee IS
.s,t the existing laws must be so changed that
,-s-a capital viii be attracted 10 subway build
= T saws that the Chamber. while adhering TO
..s r-ncirle Of ultimate municipal ownership. ap-
-,ves the policy of encouraging the cooperation
:, -f-s-e enterprise and urges that the rapid
-. lew he amended promote, on proper
.,s and with due provision for the cty's inter
=. the alternative Of construction. equipment
- oneration Of rapid transit lines by private
capital.
-. =, chicago offers the most efficient method of
-I-,,g the problem Of obtaining future rapid
.sit Iiras in New York. This plan provides for
construction equipment and operation by private
,.,ita1 with The option 10 the city 10 purchase,
location 70 he conducted upon specific terms OF
r-oat sharing with the city IN lieu OF taxes and
1a,rnert for franchise rights
7-D6er this plan says the report. the Chicago
-es-e railway corporations have been enabled to
,,.-9fr isrse amounts OF new capital for recon
,r-,c,ion and extension. provision has been made
so- the future construction Of subway lines, and
he civ has received in the first year OF operation
,ro,,t leaaeo as its share Of the profits without
having incurred any obligations
The -e4or- recommends the extension OF the
--eeert subway south the West Side and north
Az the East Side so 10 furnish two through
-autes II also favors third track for express
s.rrioa On the Second avenue and Third avenue
,..o5 1,,es Il suggests that the privilege 10
,b3-5 track the Second avenue and Third avenue
elevated lines he made the basis Of negotiations
for and conditioned upon obtaining contracts FOR
the extension Of the present subway south from
Times Square on the West Side. TO the Battery,
and north from 43d street and Park avenue, the
with q t.
vision with Z view 10 securing thereby through
,o,,tes on both the East Side and the West Side
The committee considered The suggested plan Of
raising funds for the construction Of future rapid
transit lines by direct assessment upon the prop
ertv 10 be benefited. bag found much difference Of
opinion as 10 the practcability OF the idea
If there can be devised any plan" says the
1ort upon which assessment bonds can be safely
predicate this suggestion should be given care
al consideration. and IL might be OF material
assistance in the extension OF lines into
districts, which would not he productive Of sufi-
Gent revenue. Il the capital cost had TO earn a
-sturn
The Obstacles which stand ar present in the way
Of obtaining better rapid transit facilities
rpe-sted as follows:
N. construction future rapid transit lines only
st municipal expense
Tn. lack OF unanrnity existing among the
-srious controlling officers and bodies in the city
snd state as 10 Nhat poHcy ana ieglslatlon tne
citv should ct this time favor. and the lack Of
ooo7eration between them and those now enga ged
,r the business Of city transportation
The undoubted misconCeption as 10 the prospec-
+frs value Of franchises for the construction and
opsration Of future subways under present con-
drions.
The mistaken impression that private capitalists
s-s waiting 10 seize these supposedly productive
feds and to bind the people in bondage while
-sspinE g rich harvest for themselves.
The spirit OF opposition 10 granting franchises
10 private corporations al all, or at least upon any
terms which would admit of reasonable compen-
ss-on "a the capital involved this sentiment pre-
srr7sblv being the reaction from a feeling OF |
ssrraration and resentment induced by past expert
ences in city traction affairs