The sun. [volume] (New York [N.Y.]) 1833-1916, 1911-12-30
ABOUT AGREED ON SUBWAYS
TNTERBOROJGH AND THE CITY
ARE COMING TO TERMS.
The Former Receding From It's Position
and Wiil Accept a Lower Guarantee
Than o Per ent.-City's Check ing
OF Proposals One OF the Causes.

! Prospects of an early settlement Of the
! long and acid controversy over new sub
ways were never brighter. No confer
ence was held between representatives Of
| the city and representatives of the com
peting companies yesterday; much was
accomplished nevertheless and IL became
known positively that there has been n
meeting of minds over the most important
| points al issue. that an arrangement prac-
| ticallv agreed upon AZ Wednesdays CON
| ference at the Union League Cub will
| become effective unless there is an en-
tirely unexpected controversy over de-
| tails
The business has been so long dra wn
out" said one Of those prominently con-
cerned in it yesterday. that il would he
futile to consider i, settled until papers
are signed. sealed and delivered. There
have been times in the past when an early
settlement seemed certain. vet something
unexpected has turned up to prolong the
controversy. We're it not for that.
! should say unreservedly that an early
| agreement is now certain. | cannot now
be as emphatic, although feel confident
Of formal and early ratification Of the ver-
bal agreement practically decided upon
this week"
The most important feature Of the
verbal agreement is that the lnterborough
recedes from its position. II is willing to
! accept from the city lower guarantee
than the per cent. on the earnings of
new and old lines for which 1t has long
contended. The exact amount of the
guarantee under the present tentative
agree ment was not stated by any Of the
parties at Wednesdays conference An
officer Of one Of the traction companies
said II would not exceed 81 per cent
The question of guarantee has been the
great point in contention Next in i'm
portance has been the division Of terri
tory between the Brooklyn Rapid Transit
and the Interborough. No objection
is now raised by the lnterborough TO the
entrance OF the b. r. I. into Manhattan,
| and it is certain that the strife between
he citys two great traction companies
will not longer delay the negotiations.
Anthony y Brady represents the Brook
lyn Rapid Transit with full power TO
close contracts for that company. II p
Dawson Of j p Morgan & Co. has plenarv
powers for the Interborough. An under
standing regarding the territory Of the
two companies has been reached 10 all
intents and purposes
Yesterday accountants for the Public
Service Commission and representatives
and officers Of the traction companies
were engaged i'll working out the details
of the plan. The work was far advanced
at the close OF business yesterday and will
be continued to-day. There will he no
conference to-day between representa-
tives of the city and representatives OF
the traction companies, but the details
will probably be in shape for presenta-
tion on the first business day next week
From another source came Conhrma-
tion OF the nearness of an agreement but
with somewhat less certainty.
One Of the matters which required time
is that tables have been prepared by the
city's account ants as checks upon the
estimates made by the represen atives
of the transit company From time 10
time statements of what would result
from cer1 ain arrangements have been
made and the only way that these could
he verified from the city's viewpoint has
been 10 let the Accountants do the figuring
This process has necessarily been slow.
bur il has brought results in wipinG tn"
principal items Of disagreement on the
slate
l. can be said that as far as the nego-
'tiations have progressed the agreement
which has been reached with the b r. L
has not been affect ed in any way. Those
arrangements stand ard the suhways. so
far as that company is concerned will go
ahead as before