The evening world., 1912-02-28
|NTERBORO'S BID
FOR NEW SUBWAY
IS MADE AT LAST
Calls for Preferential Pay
mentS Like Former Offers,
but Needs New Law.
ROOM LEFT FOR B. r. r.
Wilcox FavOrs II as Chance
for Two Systems-Before
City Tomorrow.

n Calls Tor Contribution Uy
the city toward construction and opers-
tion.
The differsncs betw cen the present Of
~ end the one rejected by the Board
Of Estimate last year II that the per-
centAgs Of guaranteed return to the In
ferborough y as. a. against last years
proposal Of . per cent. II 10 pointed out.
however. ina the income of the oty on
its Investment 10 at the same time re-
ducsd.
LEXINGTON AVENUE LINE IN IN.
TER0oRoUoH SYSTEM.
Chairman wilcox Of the Public Ser
vice Comnisaion laid to-day mat II the
present offer IL accepted the Broadway
Lexington venue subway. most Of
witch 10 now undr construction above
West Third street. will become a part
of the Interborough system. while the
seventh aveaue line. with its various
extensions could. with the Faurth ave-
nue. subway n the Centre street loop,
he operated ~ ono system. and con-
stitute such n system a. the II. II. r.
has expressed q willingness 10 operate
In connection with It's present System.
Chairman Wilcox adds:
"rhe present offer. therefore. brings
before the Public Service Commission
and the Board Of Estimate and Appor.
i!onment again . dual system OF subway
Development. and II the same can be
worked out satisfactorily Il would he q
result OF the very greatest bcneht 10 the
city.
TO carry out this plan the Inter.
borough Rapid Transit Company ex-
presses q willingness to invest In sub
way construction and equipment S17,OU.-
90. provided tho city will invest SO. 400, OO
toward construction. The company also
proposes to invest about $50. 600. 900 OF
private capital In the third-trackinE ana
extension Of tho elevated roads. The
whole pan Of subway and elevated sx-
tensioh<. therefore. would call for . nov
Enlistment Of private capital on the part
% the I~ntsrboroueh Rapid Transit Com.
fany to the amount Of Si0 900. ooo.
WOULD NOT INTERFERE WITH
D. r. T. OFFER.
"The carrying out OF tho plan would
In no Wise interfere with pushing for.
Award the Broadway route ana III con,
hections. which the brooklyn Rapid
TrAns,t- Company has signined . desir.
10 operate In connection with its pres
cot SyOtan.
The Beimont tunnel. which. the com.
nny has stated. cost about $500. 900 4
build, L. under thu present plan. turnct
0ver 70 The city for tho su;n Of 5000 90
OAnnect1ons could be made from Time,
square with tho tunnel aud this lin,
~ whole system.
cit will bs noted that the conupan,
poposss that its own capital shall hav
. prsfersncs - to Ii carrying charge
aAd sinking fund. a%xgre1atins 6 pc
cent. ahead OF the interests and sink
Ing fund on the city's investment. am
IN this respect the OFFER Is tho same y
that made by tho company on Dec.
$40, and the same rs its offer submitte
lsSt July and the same as made by tn
Brooklyn Rapid Transit Company lai
spring.
III thas plan Il favored II win b
necessary 10 obtain amendments to tn
law and the question Of preferentis
payments must be settled In the courti
but II 10 far reaching In ~ colla,ers
Av.n,a~.. n tho CITY. giving n oulcks
- ...... 80, a., on, 49, 80.
-. '"'
f:s.eu. or, p,an, -.
WV~ VI
MAkOS FROM THE CITY.
Tho lines laid ou. In the new nrop,.,
a.. $50 o,,,,,.s 4. .,
o." '' '1"e " W
PREVIOUS oon''huh'0auo"s ne" cow
town tunnel under East River ~iuh'
at Maiden lane or Whitehall street,
called for. to terminate a borough la
tndf7 seventh avenue Narick stree
49, n.",u ',Von" S.ree. "
- 49,. ,nn W'i.,,", 80 ms
lfoh WIN wv H'Hi'"l 'hlAl'4t VINO