New-York tribune., 1910-05-10
MAYOR SIGNS DEBT BILL.
Will Make Available to City Ap-
proximateIy 100000, 900.
FOR SUBWAYS SAT, 900. 900
Awaits Governor Approval
Form of Contracts Before
Service Board.

Mayor Gaynor put the stamp OF his ex-
ecutive approval on the debt limit bill in
quick time yesterday morning. when he
called the public hearing on the measure.
The Dill provides that the city III COM
from calculations all dock and subway
self-sustaining bonds.
There needn't be any discussion about
this bill,'' said the Mayor, when the hear
ing opened 1.-The Corporation Counsel drew
1t up and I corrected and revised 1t with my
own hand, in spite of what some editorials
have been saying to the erect t1at nave
been opposed to it,
With that brief comment the hearing was
over. as no one appeared to oppose the bill.
and If is understood that the Mayor signed
the measure Immediately and started it on
its way back to Albany to receive the sig
nature of Governor Hughes and become a
law.
It will release from computation as to the
city's borrowing capacity approximately
800 100000, of which about s47,o00,0O0 Is in
subway bonds. and it is understood that a
large proportion of that amount will be
reiuvested in more subWdyS before the end
of the coming summer.
centive 10 the days contribution on subway
possibilities when 1t held hearing during
the afternoon. at which were intending
bidders on the construction of the trf-bor-
ough system. This system includes the
Observation-Disclosures avenue line from the
Battery 10 The Bronx, with two branches
north of the Harlem River, one running to
Pelham Bay Park through Southern Boule-
a,.J VI md he nj
to Woodlawn Cemetery by. River and
Jerome Avenues: also the Canal street sub
way in Manhattan, the extensions of the
Fourth avenue subway in Brooklyn to Fort
Hamilton and Coney Island and the Broad
wav-Lafayette avenue subway in the same
borough.
Chairman Wilcox announced that only
matters relating to the terms and condi-
struction would be listened to, which seemed
to be word OF warning to those who had
come to the hearing with the idea of
arguing about the proposed routes. a mat
ter which the commission had no intention
sof considering at this hearing.
Arthur J. Baldwin, of counsel to the
Bradley y-Gaffney-Steers Company. which
had expressed its willingness to build and
said there were many matters of phrase
ology in the contracts which ought to be
modified. The most important, he thought,
was the provision which required the con-
tractors to acquire any real estate which
might be necessary in the construction of
the tube. Further, he argued the contracts
should allow more than five years opera
ton to the builders, and the method of
he Tha
as he expressed it. so that the city's claim
should be in the nature of a second mort
gage rather than first, proposed. and
that the interest should first of all be paid
to the bondhoders.
James J. O'Bren. chairman of the Queens
Borough Transit committee, lodged pro-
test against the whole matter because his
borough was not considered in the prospeC
tive routes, and threatened that if Queens
did not receive consideration the people of
that borough would go TO the courts to pre-
vent the building of the proposed tri-bor
ough routes. Commissioner Bassett who
looks after Queens matters in the commits
sion, explained that the problem of sub
ways in Queens was being considered by
the commission and would be attended to
in due course of time
Mr.. O'Brien was not at all satisfied. and
declared that, much they would dislike
to do SO, his people were in the mood to
take a. dog-in-the-manger attitude toward
the proposed scheme, which did not take
account of Queens.
James A. Allen, representing the Civic
Alliance and the independence League,
said they wanted the proposition of mu-
nicipaI ownership made definite and not
technical in the new contracts.