New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-05

Bronx or the West Side to the university
or anywhere there you have got TO trans
fer and pay another fare.
That never should have been So and IL
only came about by certain people oNJr
here that apparently spoke disnteresteu-
". but. as | knew very well at the tllne'
spoke for a price I did not say any
thing about it, nor will | call their NAMES
now. mi. t,o,,r,,,
avenue subway is not to he a part OF tle
present subway system. but nevertheless
il is 10 be extended in the way INA.
tell YOU. And then il goes through ~ !.
Relnont tunnel over into Queens, then IL
prongs off IN Queens for three long proI'sss
over routes that arc familiar TO YOU anu
then some day, as we say lot JON ~
this is no Joke there will he tunnei ui,.
der the Narrows here, little pelo"' '''i
10 our friends i'm Richmond.
"Scamps' and Finance.
After telling further of his theories
in underground transit. Mr.. Gaynor
turned to the question of subway
financing:
How did we finance it?" he asked.
"Why these scamps with their news
papers with six-inch headlines think it
could be done as you would eat
cookey.
This Hearst is worth sS0,000.000 A
newspaper to him is toy. 1t matters
not to him whether his newspapers pay
or not. His income is such that he can
publish newspapers for the fun Of II, or
10 land him in the White House, as he
thinks. OF course, l am no match for
such a man. | have no newspaper nor
have the city officials, and except we
be upheld by people like you, where
would we be or what could we do?
1T is only when come before bodies
like this that l regain some confidence
in the community. And these corrupt
scoundrels try to debase us and make
us out as thieves and as stealing the
city's funds"
Speaking further on the question of
financing the Mayor said:
There We're values too low all over the
city Why. there was corporation over
in Queens assessed at S5oJ,OO that we
raised to So. 600 900 that year. And we did
dollar And such instances as that were
all over this city. UndervaluauonS OF
the groSSeSt character. sometimes rum
ming through a whole neighbOrhood, be-
cause you know If they leave your house
down at S20.OOO they have to do the same
with me next door, and so IL Will run
through a whole block. If one man IN
the block brides the assessors TO put MS
property down il means that the Whoie
block has got to be put on the same leVel.
But even with that we did not nave
the money to do IL. Three hundred mil
lions cannot be done with $S5,WCO0O. Wen.
our great anxiety therefore was 10 see
If we could get these operating companies
TO put in half the money. And then came
the denunciation again. Why. II was SAD
II they put money in they were going 10
own the subways. What folly. The law
is that the subways can only be bullt Dy
the city and the Public Service CommiS-
sion And the money is expended by
them. And If the operating company puts
I'm any money they cannot get the Sllght-
est advantage thereby.
You would think from the talk that is
going on that the city is selling the bonds
of these companies and guaranteeing
them. We do not guarantee one dollar OF
their bonds The city will have to sell
its bonds to get its part of the money.
The Interborough company. this great
system, is putting in dollar for dollar
with the city. They do not pick that
money up out of the streets. | suppose
from reading some of these newspapers
you would think they should have bor-
rowed the money from cobblers in place
of bankers, or from pawnbrokers over In
Atlantic avenue here.