New-York tribune., 1910-12-01
Hored for Private Capital.

For that reason J have hoped all dlonS
that private capital would come forward
to help For instance. in the building OF
the extension of the present subway IN
Wsnbattan Ji3der the East River and over
into RrookIvD Borough the city pUt in S-.-
O0a 600 and the company put IN tetV0UJ-
the entire cost being SlO.tJ4sj huSt We
finally give up the hope of beng abe %
sac1Ire a similar arrangement for the build
ing of any of the SubWayS no" Proi''seU-
If SO. why? .-, -.
s57 geo 0l(l-far too little for the bulluin@ or
fhf sIbways which are Immediately neGeS-
ssrv for the bcroughs of Manhattan, IEs
Rronx Brooklyn and Queens VI your
committee can secure private tdbltdt -
exc out the limited available money or
credit of the city. il sill do "A most notao'e
II is surprising that there are persons
u-bn are under the false notion tn;tI uhieSS
tbe subways he built with city money t4e-
citv does not OWE them whereas II makes
no difference on that head WhetheI PtiNa-S
caoitaI be used in whole OF in par
Fv a persistent effort 10 SqddIilt. - II'e -
sessed values of land In TOE StVsIdi oVl sg
oushs which | entered upon through tLe
80 co nniSsiOners immediately on cCihu-
49,, CfTice we shall have the eNtrdordiharV
iyasst. of $500 600 600 in such values IN tnes
lllcI::a go % thus securing "a borrowing
margin of sol. .069.0,O In the 1GIoN us = -, y
the increase in values VII VII Hi''s i1i f,IrDiSP a,
trrot,,irg ~ margin OF S23Gl0.0I- Oi course
tba other expenses OF government tiiaIe -
therefore all of the above niafSlllS VII ore
he available for subway - tolls1i " III III
DELAYED I'M = se-'..c ''
which will call for about $l0 $l0.yt''st-'- .r, -.
oF course. the necessary Su5w'tyS can %
L,,iit entirely wita city money u - ns I
do so am only pointing oul tIia, III -- 10
,,beraas II private capital can e ~ :...f
~ ate ont the credit OF money tne SISN
20 the ~ york can be done all at once
nar1aiv in all the bOTUuShS Slmul'att"OS'S~ =
instead Of piecemeaL
,,a,,or Cavnor wrote TO the South Sids.
vo,rd of Trade that he spoke before his
o,.,,.io, in favor OF building subvay'>,
-. ,aver pledSed himself {" any route.
..pa,,b1inp talk such as your letter IN
d,,,qes in can help no city othcis''
continued. Why do You not so into th~
whole matter and give the hnanclssl
e;,uations and give the various routest
,ronosed. and point out when routes
- be buiIt with the available money
and give the best results 10 the CITY: IL
,.o,, are not prepared to do TINS VITA
me vou may as well shut up. FOR L VIII
nav no attention to you i am man
~ facts and details, and people VINO
,,,oralv, whistle words make no impress
sion on me whatever
In another part of the latter the Mayor
added- what YOU do not know about
this subway question WOuiu WIZ " UV@-
You do not even seem 10 know that
whatever suhways are built will have
70 he built by the city. It is pitiable To
find an organization like the South SIDE
Beard of Trade with even ore man IN IT
Who does not know as much as that sr
least
Mayor Gayncr's letter was criticised
freely by the members of the Trihoronsn
League James L. Wells quoted Con-
troIIer Prendergast as having said thss
the small property owners and the ousi~
ness people who were copelled TO take
the subway exclusively. were better
Judges of the needs of rapid transit and
routes than the members Of the CHAM
ber OF Commerce or the Merchants As
soCiation.
The fact that the Mayor can always
listen patiently To anything these sNo