New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-12-04
P. S. {. WANTS ACTION
BEFORE WILCOX QUITS
Fear Its Efforts for Dual SUBJ
way System Will Other
wise Fail.
CAN'T COUNT ON SULZER
Chairman Says Hitch Over In.
terest on Money Borrowed
by B. R. T. Is Not
Serious.

Every effort is being made by the Pub
lice Service Commission to reach an
agreement on the contracts for the duai
subway system, so that the necessary
public hearings may be held and the con-
tracts signed before the term OF Chair
man Wilcox expires.
That will happen on February ]. and
there Is the gravest danger that II the
contracts are not signed by that time all
the labor that has been done 70 bring
about the dual system OF subways Will go
for naught. There is every chance that
the Democrat whom Governor elect Sulzer
is likely to appoint will kick over the
entire apple cart" II the present agree
ment between the city and the traction
companies is thrown over the chances OF
their ever getting together again on any
thing like such favorable terms are neBli-
gible.
If the incoming Governor carries out
the non-partisan ideas OF Governor
Hughes in selecting the commission he
will reappoint Chairman Wilcox. or at
least put Republican In his place. Gov
ernor Hughes appointed three Republic
cans and two Democrats. Governor Dix
has supplanted one OF the Republicans
with a Democrat and one of the inde-
pendent Democrats by an organization
Democrat.
Commissioner Maltbie, the third Demo-
crat, is a man OF independent tendencies
and would not consent TO any Democratic
raid on the exempt places In the COM
mission. Should Chairman Wilcox, how
ever. be replaced by an organization
Democrat 1t would give the Murphy or
ganization absolute power 10 make a
clean sweep OF all the exempt places. II
is we'll known that Murphy has long had
a covetous eye on the patronage feast that
is presented by the Public Service Com
mission.
While Chairman Wilcox will. 1t is I'M
derstood, have the strongest sort OF back
ing for reappointment. the hungry Tam
many leaders are after his place, and will
get 1t ~ they have their way with Mr..
Sulzer, as seems very probable.
Chairman Wilcox said yesterday the
hitch between the commission and the
Brooklyn Rapid Transit Company over
rowed by the company to build new SUBJ
ways under the dual plan was not ser'
Gus
There is this and one or two other
small points still to be settled" said the
chairman, but am convinced that they
will be Strengthened out 10 the satisfa =
ton Of both sides In one or two more
conferences"
The trouble over the interest is just
this: On October the Brooklyn Rapid
Transit raised $4,000. 900 for the constru =
ton OF new subways by the sale OF reve-
nue. notes at 8 per cent interest. the notes
10 be redeemed later by the issuance Of
bonds after the contract with the city
has been signed. This money has been
banked at per cent, making a net loss
10 the company OF 3 per cent. or at the
rate OF 81 200 90 a year. The company in
sists that this per cent be put into the
cost OF construction. The city's repre-
sentatlves hold that II is no concern OF
theirs how the Brooklyn Rapid Transit
arranges to get its money prior TO the
signing OF the contracts.
The Metropolitan has arranged with its
bankers to get its money G77. ooo, Oo0) as II
IS needed. However. the question re.
mains as 10 whether, after the contracts
have been entered into by the city. tho
city shall be responsible for any interest
other than that on money that has
actually been expended in construction
work