New-York tribune., 1912-01-05
'RA|SES SUBWAY PROBLEM
MCAneny Thinks Interborough
Asks S60.0O0.000 Too Much.
AMORTIZATION INVOLVED
B. R. T. Offers Moving Platforms
to Pennsylvania Station
Contract Is Held Up.

Another point that is holding up the ne
go:iat.ons dat have been IN progress for
the return of the In,erborough Rapid
Transit Comrany TO the field Of subway
extension involves the amortization charges
that are to be taken out Of the net earn
ngs Chairman Wilcox Of the Public Ser
Vice Commission. Controller PrendcrSast
and Borough President McAnenv hold that
the arrangement s12 sestcd By the Inter
borough means that the company would get
the amortization fund for eight years be-
yond the time when the bond la2'C would
have been fully amortiZed. and inat after
the latter period the Interborough would
under its plan. get from s6,OO.CG0 to sGc,-
0Dt.OC0 out Of the earnings to which it would
not be Justly entitled.
Borough President McAusuy acknowl-
edged Yesterday that this was one Of the
bones o. contention which consumed a
great part Of tha time al the conference al
Che Union League Club on Wednesday
night. lie and his fellow representatives
Of the city hold that the Interborough IS
not entitled 20 this money. while Samuel
Rea. yice-president of the Pennsylvania
INdllIOdtl, anu II. iDdNloDIl' ~ y. HiOl
gan & Co.. hold that it IS q perfectly TO-
Ultimate part Of the plan.
The term of the proposed lease would be
forty-nine years. The plan outlined by the
Tnterborough would provide Tor the amorti-
zation OF It's bonds in forty-one years, ac-
cording to the contention Of Chairman Will
cox and his confreres for the city. This
would leave interest charges and sinking
fund charges of per cent to come out OF
the earnings and go TO the 1nterborough
for eight additional years, according "a
their figure. and would be clear gain TO the
Interborough
Mr. Dawson and A J. County assistan,
TO Mr.. Rea, took the figures presented by
tho city and said they would analyze them
and report at a later conference. The rep
resentatives of the Tnterborough were anE-
ious to close up the negotiations some time
ego but at that point Controller Prender-
CAST insisted upon having one Of his ac-
countants go over the figures the result
being that many new points were brought
No. These have not been satisfactorily
settled up to date.
II may be said on the best OF authority
that there is no chance of the Interborough
coming ino the subway situation again un-
less IL decides to make some material con-
cessons from It's present stand.
To meet the objections OF the Pennsyl-
vania interests that the subway system as
planned for the Brooklyn Rapid Transit
Company does not provide for adequate
service for the Pennsylvania Station Colo
mel Williams president OF the Brooklyn
RAPID Transit Company, has assured Mr.
Rea that his company would be willing to
build and operate a moving platform be-
tween the proposed subway station at 33d
street and the Pennsylvania Station, to be
used by subway passengers to and from
the Pennsylvania without extra charge.
That members Of the Board OF Estimate
are not yet convinced that all hope OF
reaching an agreement with the INTERIOR
ough lie gone was shown yesterday, when
the board without comment postponed ac-
ton on the contract for Section OF the
Broadway-Lexington avenue subway. II
the Interborough completes its H there