The sun. [volume] (New York [N.Y.]) 1833-1916, 1912-05-10

is to be carried under the Fast River to
BROOKLYN
{: Determination Of the route through
which the Stcinwav tunnel line will bs
carried to point Of connect ion with the
northern Queens lines AZ greensboro
Bridge plaza.
RRooKLYN COMPANY.
l. Determination of the tunnel route
through which the Broadway lin" will
proceed under the East River TO Brocklyn!
>. Determination Of the method Of con
Meeting the Manhattan Bridge line and
'anal street with the main north and south
line Of the Brooklyn system at Broadway
3 The cTcc'ing of an arrangement with
the Long Island Railroad Company for a
cu'of nnder the tlathush avenue station
connecting the Brighton Eeach line with
Manhattan Bridge
T. Determination of the route for the
extens sion Of the eastern distric, line from,
Rushwick station to Ridgewood and ia Il
New York.
:. Authorization OF the route. ~ the
elevated extensions in South Brooklvn
th" Culver line and the West End .tor New
Utrecht avenue line.
q Authorization OF the proposed rev
, routes to Jamaica one to proceed on the
| north side of the Long Island I,ailroad
| from the present terminus Of the Kings
, County Elevated and the other on the sout h
side of the road to efforts avenue
:, Determination Of 'he route to be taken
for the extension to the Grcenpoint elevated
! line from Williamsburg plaza to n point
of connection with the Brighton Beach
| line and authorization Of this route &c
, Long Island city
| The matter of the correct determine ticr
Of the tast River tunnels is vital. In one
sense they furnish the key 10 the transi,
situation. and | doubt il there are an,
members Of the Board of Estimate who
! ieeve that the city should commit itselI
| 10 an indefinite routing plan until the situa
ton here is properly worked out
A> have said, II the dual plan is TO re.
cclv" the approval NJ The Board OF Estima 10
I u should IN my Judgment be put thrOugf h
IN lts entirety do no, ina gine for a
moment that the city il prepared to hreak
! faith IN the matter either with its owr
| people or with either OF the companies with
,sl. Mhch a. It Is DEALING ! believe. however
mat the n"ces> s>ary steps for the legaI2atiOn
| of The routes re- Iuircd 10 give reality to the
qua plan should lie taken before i,nal az.
| ton is taken IN the board or that acton
should he first taken that assures the legal.
! Zatlon Of such lines
| At the offices o. the InterborouCa n
Company il was said Yesterday for Mr.
Shonts that he had nothing to add 10 tn.
position he had taken IN his letters 10
Mr.. Gaynor and 10 Mr.. McAneny Ii was
! explained. however that while Mr. Shonts
, had to all intents In id down an ul'ima,um to
;he city he had not specifically Withdrawn
I the Peterborough Ofer Ii was further
said that there would be nothing of a
positive character decided upon bv the
company until the city had had few days
more opportunity 10 consider the sit,ia
| tlOn.
| 4 member Of j. p. Morgan r Co. said
Yesterday that The firms attitude il this
| The Public Service Commission and the
Board OF Estimate finally got their heads
together IN agreement on what might be
called "A business proposition in regard
70 new subways. After no end of trouble
| Theodore p, Shonts. president of the
lnterborough. go, his directors to come
| 10 an agreement with the proposition
! put forward by the other side After
| still greater difficulties Mr. Shonts got
j. y. Morgan 4 Co. to agree financially
! TO the scheme as then out lined Every
hing was ready for real business and
everybody was ready really to do some
! thing about subways except the Board of
| Estimate. which held back and still holds
, back
Money conditions are no longer what
| they were when Morgan 4 Co first agreed
| To MIR Shonis's proposition. The out tlook
| Tor future money conditions is not what
| n wa- then. General financial conditions
\ nave changed IN many parti cuars
! fcificS has stuck its head into firancia
matters Strike, have come along The
situation H. IN no way ths same as thar
! predominant al III. time OF the origina
| agreement. The hol,st has waited long
| enough for the rest o! the people int er-
e>ted 10 say what they are going to do, il
feels II has stood ready to do it's part
Tor "a long time. Bur although it has
| made no threat of withdrawal il canno,
promise TO stand idling forever, waiting
tor the Board of Estimate to make up its
peculiarly cautious mind
! In case the board never does get it's
initd made mp or in case its mind is not
inade up within a reasonable time from
now Morgan co will. by force of simple
business judgment haNe to throw over
ell its previous arrangements with the
Interborough end the other interest :
| on subway financing The enorm o,,s ly
complicated and long drawn out process
OF st'rting in at the very bottCm and
working up new scheme through ali
Of the varioIis complexities will have
| delay. Eve;y body will lose hy tina,
say the bankers, and nobody will gain
/ zach side viii have wasted its time and
, nobody will have gained anything what
ever
From the point of view of Morgan 4
GO. the present ticklish situation il no,
! in ne least matter of temper; the bank.
ers' tempers are quite equal to those OF
the gentlemen on the Board of Estimate
u ls plain matter of common sense
business, More delay will most certainly
destroy all that hes been ACCOMPLISHED
toward new lnterborough suhwsys and
require the building Of delicate structure
, OF negot iations all over again
| D. j.. Morgan 4 Co. as one of the firm
, put it, is just rs anxious to have the In.
terborough's new subway matters titled
for good and ell as is the lnterborougL
itself. the Board Of Estimate or the pub.
lie, The commitment is so large, how
ever-some $40 O00. .OOO-that reasonable
caution must be exercised TO protect
the underwriters from the peril Of having
circumstances which could not he taken
into account at the time OF the first settle.
ment react now and hereafter ,ipon the
fortunes Of the individuals or syndicate es
! implicated in the financial management
| Of the whole scheme
President Williams Of the BROOKLYN
Rapid Transit Company said last night;
Mr.. McAneny's statement is a clear
and complete setting forth OF tho sitlla
'ion AS II now stands, II shows that the
city authorities. in so far as they agree
with MIR, McAneny. are determined In
protect the interests Of BROOKLYN and
Queens in respect Of those features OF
the plans for rapid transit which are es-
sential to those boroughs.'