New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-11-19

! sibIe time
William g. McAdoo, as president OF
pany. made a formal proposition 70 the
Public Service Commission late yester-
day afternoon to operate all the parts
of the Trfborough system for which bids
have been received recently Mr. Nc
Adoo also offered to furnish a bond OF
81 .0Oo. 900 for the faithful performances
of any contract that may be entered into
between the city and his company
Though Mr. McAdOo's proposal Is con-
dftionaI upon important notifications OF
the Triborough route as originally laid
down by the commission. his plan re-
tains the basic feature Of linking the
three boroughs besides giving access TO
the new Pennsylvania Station and pro-
viding an additional tunnel TO Brooklyn
in the most congested business section
Of Manhattan
The Broadway Lexington avenue line
as planned by the commission forms the
main artery Of the McAdoo proposal
To make this line more integral part
of the triborough system he purposes TO
connect it with the Fourth avenue sub
way in Brooklyn from a point in Church
street. between Libsrty and Rector
Rector streets under Wall street and
through a tunnel under the East River
70 NorYfa que street Borough Hall Park
and wilIoughby street TO FIatbush ave
nue. extension
The connection with the Pennsylvania
station is TO be made through the ex-
tension of the McAdoo tubes from s3d
street to the Grand Central Station. al
ready granted TO the company. which
il intends to build with It's own money
But Mr. McAdoo makes the condition
that the city construct two-track sub
way from broadway and 33d street down
Broadway TO 10th street. there connect
ing with the local tracks OF the Broad-
yay-Lexington avenue subway
Wants Two New Links Built.
Thus. the only new subway which tbs
city will have to build. not included
in the plans already adopted. would be
the two links from Broadway and SD
street to 10th street. and from Liberty
street TO FTatbush avenue extension. in
Brooklyn The new plan would mako
II possible to postpone the construction
of the Canal street subway and the
Broadway subway in Brooklyn. making
available about S21 100000 for the con-
struction OF the new tunnel link which
Mr.. McAdoo says will cost about S25.-
OO0OOO
Mr.. McAdoo estimates the cost OF tbs
system proposed by him at S1O0OO0o0o.
including all charges The cost Of
equipment. power houses. signals. etc.
and the Grand Central extension he esti-
mates at S5O.OOO.OOo.
eff the city will build the system,
herein proposed he writes. we viii
agree TO operate our Grand Central ex-
tension as an integral part Of the same
and agree TO furnish the said sum OF
$40 100000. or such sum as may be re-
nuired for the purpose aforesaid and 70
operate said system under lease for
d period of years TO be agreed upon
The terms offered by Mr. McAdoo pro
vide for the payment Of interest and
taxes on the S50.Ooo. 600. the payment OF
interest on the money expended by tho
citv for construction. the equal division
of all surplus earnings after the nee
shall have become sufficient
~ cover the fixed charges. an amorriza-
+ion fund Of 1 per cent per annurl. and
g.. Uniform hve-ceut fare but not 70 IN
clude the present Hudson tunnel system
"It is. in our opinion. says Nj NC
Adoo unlikely that there Will be any
deficiency OF earnings from this system
,1hen completed and in full operation to
meet the entire interest charge and
taxes on the money provided for It's
anuipnent and construction It seems
ro Us certain that II any deficiency does
occur n will be for the first year only
after fun operation
Advantages OF Hudson Tubes.
Mr. McAdoo points out considerable
savings that may be effected by taking
advantage OF stations OF the Hudson
tunnel system He adds that the work
could be finished in a short time. and
that his system would satisfy the trans
pcrtation needs OF greater New York N
a greater measure than any other tha.
can be proposed 1T takes care OF both
the East and West side trafac over the
shortest possible route. and provides
TO and through the eis-