New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-11
President Shonts OF the marlborough

President Shonts Of the Interborough
Yesterday called attention to the fact
that his company proposed that the ex-
tension Of the Fourth avenue subway
should be subways and not elevated lines
as suggested by the B. r. THAT Ia 70
say. all except the last end OF the Coney
Island extension, which, on account nj
the msrshy character Of the soil. would
be an elevated line from Twenty-fourth
avenue and s6th street.
The increased borrowing capacity OF
the city after July l, due to the in
creased $500. 100000 in the assessed
valuations Of real estate, would make
the city more or less independent Of
either transit corporation, II both the
Interborongh and the Brooklyn Rapid
Transit Company should back out at the
last minute the city could 60 ahead and
start the triborough route with its own
money. leaving the problem of an opera
tor to wait until the line was completed.
st2s,ooo,o0o for subways.
II is figured that on July the city
will have upward OF S125, 900. 900 TO de-
vote 10 rapid transit purposes. OF
that sum $50 100000 represents the
amount that is exempted from the debt
limit under constitutional amendment
as being the money invested in selfsup
porting rapid transit roads. and SD.
OOoNS of the citys credit is available
of q I'll IN,
creased borrowing capacity due to the
SSp,oNOOO increase in assessed valua-
ton, some S320OO.OO0 will be taken UP
by allctments Of corporate stock for per
manent improvements under the cor
porate stock budget that is now being
prepared. That would leave about S4S-
10000 for rapid transit purposes.
No justification could be found yester-
DAY for The report that the conference
committee Of the Board Of Estimate and
Apportionment would recommend that a
majority of the citvs credit he offered
TO the Interborough company for the
extension of its proposed lines AS
matter of fact there is more ground for
believing that the report will suggest
that the Interboroush is In better po-
sition 10 extend IT'S lines with its own
money.
There was no indication yesterday that
the officers Of the marlborough would
yield TO the demands as TO modification
of terms that IL is understood will be sug-
sested in the subway report. They will
probably stick out 70 the last, but men,
bers Of the conference are confident that
IN the end they VIII yield.
Although il is true that members OF
the Board of Estimate and Apportion-
mtnt. outside OF the conference commit
tee, have not had an opportunity of
learning all that will be in the report. 1t
IS understood that they have been kept
we'll informed of the main features and
every effort has been made 10 shape re-
port that will stand good chance Of
meeting the approval Of majority OF
the members Of the board.
President McAnenv is fully sensible of
The fact that II would be fruitless 10
hand in q report that woul, be likely 70
cause a serious SPLIT in the Board Of
Estimate and Apportionment He and
his colleagues have worked on the Idea
/ OF only that they were formulating a
subway policy for the future, as we'll as
for the present, but also with keen APP
probation Of the fact that the city was
N great need of rapid transit extensions
at once, and that TO frame up something
that would do nothing except stir ~
more controversy would be entirely
futile.
Borough President McAneny. with the
assistance Of member of the Public
Service Commission, worked all day yes
terday on the final pages of the subway
As fast as the pages were COM
pleted they were turned over TO the
printer, and. so far as President Nc
Aneny could see. nothing can possibly
interfere with the presentation OF the
report 10 the Board of Estimate and APP
portionment tomorrow afternoon, as an
nounced.