New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-30
PLANS TO BEGIN DIGGING
Continued from frst page.

Of its leases as the company itseit asieeu
TO during the course Of the carrier 'es'
tiations."
Mr. Low opposed the immediate swap
ming az franchises. and spoke OF the as
advantages that would accrue 10 '"e
marlborough through having 'o"
petitor in Broadway. 1t was 'noue".
that Mr.. Low might ask Tor uei"'
two or three weeks. but he asKeu io' '.'
definite time When he was done Presi-
dent McAneny said:
Il renew my motion tha' ~
board adjourns it does so to meet ''oV
-, % receive our report and act
on it,"
when will the report be reau'
asked Mayor Gaynor.
AT that time" said Presiuen'
Aneny.
..y,,ou" said the Mayor. Il want 10 say
tho. as,er what [ have just heard GER
tainiy will not be ready 10 vote va Gag
report until after | have had 'i'iie ~
read it,"
II was then suggested, and the sus-
ros.ior uas carried. that the report DC
received in the afternoon ana tha'
be taken this morning.
After luncheon the members "a t"'
conference committee and the rum
Servica Commission went at IL again
Some Of them. it is UNDERSTOOD "e.o
favor OF making a formal request u ''o
peterborough 10 reconsider It's dec'iia-
,ior while the others believed the city
uo,ld no going far enough II II o1ereu "
make the same notifications io'
marlborough that it mace io'
RrookIvn rand Transit Company ro'
-ood measure IL was finally DECIDED 10
odd tho ,wo additional concessions al
ready explained. ,,,
Whom 20 o'clock came Colonel VIII
;ar,s nresident Of the Brooklyn hapiu
Transit. and the general counsei Oh INC
cor,ran,. we're in the old council cham-
her There were about thirty o'ners
waiting 70 hear what vas 10 De oone
Several members Of the Board OF hsu-
mate came In. but word came from 'N'
p,hl,c Service Commission that the
drawing I'D Of the report was sun III
progress Ar $50 O'Clock President NC
Anenv sent 2 message that ii would ne
g o'clock before the report Wouid De
ready Mayor Gsvnor decided tha' ~
no aftiou vas to be taken on the report
q, would not be necessary for him 10
wait. so he went home.
II was = 10 o'clock when the otnec
members of the board fled into the
cham Der and sat down. President Mitchel
called the meeting 70 order. and Presl-
dent Williams of the Brooklyn Rapid
Transit and others present crowded
around the rail 70 hear President Nc
Aneny read his report
Grant 9. 3. rs Modification.
After reciting how the offers had been
forwarded TO the companies and the re-
plies received and that the Interborough
had sent in q general declination, the
report went on.
The Brooklyn Rapid Transit COMPANY
states its willingness 70 accept the city :
terms. II amended in certain speciic par
tlcuars. Your committee and ne PUBIC
Service Commission. after further con
ference have reached the conclusion that
the notifications proposed by the BROOK
lvn company, which involve consldera-
tious affecting the financial basis OF the
pronosed contracts. and which do not in
volve considerations Of principle. should
IN the main be granted. The conferrees
are convinced. upon the companys argu-
nlent that me concessions IN question
would be equitable and Just. both 70 the
corDarv and 70 The city. They have also
considered certain notifications suggested
by reference in the letter or the lnter
borough Company thai might, IN equity
be applied 70 either operator.
The report then went on TO recommend
the preparation Of contracts with the
Brooklyn Rapid Transit Company as
already said. and recommended that the
notifications be granted. The first was
an adjustment Of the basis for the pay
rnent Of th- cost Of equipment under re-
capture after ten years. providing that
the company could not lose on the deal
The second referred 70 the computation
Of the amount 70 be reserved from the
net earnings Of the elevated lines. II
was the most important Of all, and was
wordsd as follows.
That the amount 70 be deducted annual
IL as rom nerss tfon 70 the company for use
~ tho existing lines and stations shall be
computed bv one OF the following meth
ods. the precise method 10 be determined
by the COnferrees.
/ An amount equivalent 20 ~ per cent
of the average Of the revenue from oper-
alton Of existing lines and stations during
the four wears preceding the operation or
the Broadway line I'm Manhattan in no
case however 70 exceed 8.5oH.N" or
. Tho receipts from the operation or eX-
ietiug lines and stations plus the receipts
at the Manhattan terminals Of the Brook
Ivn and Williamsburg bridges during the
wear prior to the beginning OF operation In
Manhattan beyond the present terminl.
less the operating expenses computed upon
the per passenger basis, such balance nor
10 exceed IN any year S.5o 900 nor 10 be
less than the net earnings OF the Brooklyn
Union Elevated Railroad Company for the
wear ending June CO. 1911.
Joint Trackaae Reservation.
bat no prQak-