New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-02
WILCOX RESTS SUBWAY
CASE WITH THE FUTURE
Says 1t Will Prove One Of the
Best Business Deals for the
City in Many Years.
AT REAL ESTATE Dinner
Effort Has Been to Do Greatest
Good to Greatest Number, Not
to Develop Land Values,
Says McAneny.

Chairman Wilcox OF the Public Service
Commission and Borough President NC
Aneny spoke on the new SUBWAY coh-
tracts before a thousand members OF the
Real Estate Board OF Brokers at the sew
enteenth annual dinner OF that oody at
the Waldorf last night. The announce
ment by both speakers that the Work on
the dual system contracts was practlcaHy
completed and the contracts were about
10 be signed was received by the real
estate men with enthusiastic cheering.
Mr.. Wilcox and Mr.. McAneny eN-
changed compliments and congratulations
and It sounded as II they felt that the
great task to which they had devoted so
much of the last four years was finished
and their labors We're at last TO be re-
warded by the accomplishment of their
plans.
Mr. Wilcox declared that the Whole
subway solution as incorporated IN the
present dual contracts had been square
and fair business proposition for the city
with the operating companies, and that
the near future. as the plans were de-
veloped and the lines built, would show
tidi III was one OF the uSSl bh-ii'HN ''u''
in which the city had participated for
many years. Mr.. McAneny said he re-
joced that recent criticism OF the
plans had developed and various issues
raised by the opposition. because 1t mad
brought more evidence To the people, and
lately To the Governor OF the state. that
the present plans were the best
Compared to Panama Canal.
T.. A. Tredwell. president Of the Real
Estate Board Of Brokers. caught the
spirit OF the diners in introducing MI.
Wilcox and Mr.. McAneny when he COM
pared the present subway project with
the Panama Canal. as one OF the great
est undertakings of the world Nh. Nc
Aueny was the first speaker, and said, in
part
In planning 10. our city railways sc
hav. been GUIDED. ! trust by larger
view. with TN. future consideration col
the city's wonderful growth in mind, anu
We must hav" our city plan upon lines
that make for the better distribution oil
all tn" people. that give better opportun.'
ties for industrial expansion. FOR homes
and AFFORD relief from congcstcd trafilt
conditiona-in other words. c.ty-wid,
system That ls what "" nave tried %
develop. and We feel that We have sue
cccdrG. We have not had Ia view merely
IN. development Of real estate values
bat the giving To all the people. or prac-
tically all the people the tye-cent fare
! am confident II will soon bc seen thai
We have mad. the best bargain for tbs
city that could be made. In securing the
present lines We have given to the com
panies only the lowest terms to which ~
could heat them down.
The realization OF the dual SUBWAY
plans Wal give in real estate values
alone $1,000 - 4 year ia taxes 10 the
CITY treasury. our experts tel ~ that
sixty million double fares will go into the
single fare and that VIII put 10000 more
into the pockets of the people eacn year
So ", will soon he paid Tor every dollai
~ the c.tv's Investment In the new sub
WAYS W. hav" provided well for futur,
conditions Every contract let VIII be lei
10y the city. and that means municipal
construction.