New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-01-20
CITY AND PETERBOROUGH
At PARTING OF WAYS.
Actual Break Averted Only by
Company's Promise to Con-
slider Fundamentals.
MAYOR SHOWS NO INTEREST
Calls Greensboro Bridge Line a
"Cornfield Route"-Seventh
Avenue Association Far
from Optimistic.

Avenue Association Far
from Optimistic.
There came near being final break be-
tween the representatives of the city and
the marlborough Rapid Transit Company
st long conference held at the Downtown
Association, No. 60 Wall street, yesterday
afternoon. 1t was prevented by President
Shonts of the marlborough, who commune
Gated with the conferrees from another
room. promising TO submit to his board OF
directors for definite approval or disap-
proval certain things that the citys rep
resentatives regard as fundamentals. The
reply will be given within few days. II
was practically an ultimatum to the Inter-
borough
Asked what the outlook for reaching an
agreement was Borough President Nc
Aneny said 1T is in about the same shape
as il was before. There is an even chance.
one Of the marlborough crowd seemed to
think things were more hopeful Asked Tor
specifc reasons for his hopefulness, he re-
piled: Because the city did not break
things off to-day"
This progress was made, however the
city's representatives for the first time
specifically stated what they considered to
be the fundamental conditions and demand
ed that the lnterborough answer whether
Il would agree 10 them. In case the
marlborough declines 10 accept the condi-
tions the city will refuse TO confer any
longer
However, should the marlborough con-
cede these fundamentals there are other
details that will have 10 be thrashed out
some Of them Of such magnitude as 10 give
room for another break in the negotiations.
None Of the conferrees would say what had
been submitted as fundamentals and what
were left for future consideration under the
head Of details.
Largest Conference in Series.
The conference began at l o'clock and
lasted until after S. There sat around the
luncheon table Samuel Rea. vice-president
Of the Pennsylvania Railroad; A. J. Coun-
". his chief assistant, and Morgan j.
OBrien, counsel for the railroad; H. P.
Dawson and j. P. Morgan, jr, of the bank
ing firm of ]. P. Morgan & Co. and Seth
Low who has worked as DISTINGUISHED
person to bring the Interborough into the
general subway scheme.
Tine CITY s representatives dN Inv AoDAN
were Borough President McAneny, Borough
President Miller and Borough President
Cromwell comprising the Board Of Esti-
mate conference committee which helped to
draw up the July transit report: Chairman
Wilcox of the Public Service Commission
and Controller Prendergast. This was the
largest gathering since the last series OF
conferences was started by Mr.. Rca, the
latter part Of October.
It was after 3 o'clock before the coffee
and cigars were finished. Then, President
shonts having arrived and gone to another
room in the building, Mr. Rea and Mr.
Dawson went out to talk with him in re-
gard to what had happened during the
luncheon. From time to time other mem
bers of the Interborough group went ou
and talked with President Shonts and re-
turned to the luncheon room. But Presl
dent shouts did not talk directly with any
OF the representatives Of the city. He was
I'm touch by telephone however, with +. J
Berwind and other directors OF the Inter
borough. Mr. Berwind was at the Inter
borough Offices with Frank Hediey ana
others.
When Chairman Wilcox, President NC
Aneny and Controller Prendergast returned
the IltN nan litg otSliAtN ANAN'SN ~
cause they had at last put it squarely w
10 the Interborough to yield certain condi'
lions or consider the conferences closed.
I'VE have submitted certain fundamen'
tails. after long conference, said Presl'
dent McAneny. President Shonts mas
agreed to present them TO his directors
within a few days and give us the answer
at once" 81,
.1f they do not accept these conditions
Then it is all over
IF they do accept?'
'orhen there are a number OF details tc
he worked out before We can come to
final agreement. What we submitted TO-
day were things on which We have made
un our mind, and upon which we are MOI
willing to yield"
Although none of the conferrees would
intimate in any way what the fundamentals
submitted by them were, II Is believed ina
thew included at least three points-one th'
demand Of the marlborough that II get
nreferential payment OF approximately 81
ner cent on old and new money comolneC
before the interest and sinking func
obarges on the city's bonds are paid; an
o,ber the question Of giving the INTERIOR
o,,yb the sinking fund charge for period
., oIgbt wears or more after the bonds have
49, amortized, and the third the question
% having the city buy the equipment OF
-. Tnterborough at the end Of the lease
a,,.r the company has already taken out o.
en- nrosts money to amortize the Original
equipment bonds and TO pay Tor maih'e
nance. .,.or .,
his Office in the City Hall, expressed h''i'
interest in the outcome Of the subway con
ference downtown. He would not say VIVA
action he would take on the 5sth stree
oueensboro Bridge route that is now De
fore him for approval. but he spoke OF i
rather lightly as the "cornfeid route So
far as the Queens County end of II went
lie EXPRESSED the opinion that the oes
transit relief for Queens lay in lines u
radiate from the Steinway Tunnel
The Seventh Avenue Association, o.
which Thomas Dimond is president, EVIL
IDENTIFY is somewhat skeptical Of the Inter
boroughs agreeing to terms for the com
melton OF the subway III" which II de
sires. In resolutions passed on Thursda!
night. after stating that II did not feel able
10 Judge of the financial merits OF the cas'
Of either side. 1t went on TO say:
Resolved. That should the city of New
York and the Interborough Rapid Transit
Company fail to reach Immediately al
agreement, II Is the opinion OF this asso
cation that the city OF New York shoul'
al once and irrevocably commit itself Il
the construction, independently Of the In
terborough Rapid Transit Company, of th'
subway from the Lexington avenue route
across below 42d street, TO and thence dowr
Seventh avenue 10 the route as laid dowr
and recommended by the Chamber of Com
merce as best meeting the needs OF thu
entire city.