The sun. [volume] (New York [N.Y.]) 1833-1916, 1913-01-29
CITY ALONE CANNOT
BUILD ITS SUBWAYS
Would Take Ten Years 10 Put
Dual Plan Through. Me-
AnrnI Declares.
MONEY not AVAILABLE.
still short at Liberal Estimate
of $50. 900. 900 Increase in
Borrowing Capacity.

! 'hcN were in real pCril.-it would take
| the city of New York at l,as; ten years
! To build the lines with its own money.
In other words. New York is so near
| the limit Of It's borrowing capacity that
| Il could not undertake to build the sub
ways unaidcd and finish the job under
ten years
1T would talk" u, i,3st ten years to do
! it, said Borough President McAneny
last night. Ten years is a very liberal
estimate. They are members of our
board who believe that It would tak,
longer perhaps fourteen wears or even
more
The fact is. as has been pointed ont
by city officers. that New York will have
its hands full to supply the money for
its share IN the undertaking as pro-
posed under the dual system Borough
President McAneny in his report on the
dual system last May estimated that tn.
Citv's share in subway construction
would amount to sl24.372 200. of which
s19.6i9.2j0 was to go into the INTERIOR
oueh system and S64.722 $50 into the
Brooklyn Rapid Transit lines. In the
first year the Citys borrow Ing capacity
would be 10000 900 for subway pur-
poses, and that would involve drawing
Nio.' ~ '''' '' .n nca
i,,, r"' p'''N 70 ''', 'N.eh. vi 80, INV
The remaining s2l.312.2O0 would have
10 he made up out Of increases in tn.
, wy 'o' ''"''e ''P"'''S j" '"e "'N'
two years
At present the citys debt limit is re.
ceding at the rate of about $4,000, 600 "a
year. II the city has to put In new
i"N'H''H'S ana nuId DOCKS ana CON
SFu'' ne" CIVIC centre anu all "t
'''cH' '"'hss anu NOR" IN" authorities
nav" IN mihu-the amount available Tor
SUBWAY construction would be relative
!! Attl"' lerhaps third OF IN" total
amount the city could borrow would be
available tor use for this purpose S'.-
S35'O"o year or less
;, If the total anoun, the Il. K. T.
ana the interoorough Will put into the
dual system be taken and divided by
IN" amount IN" city could ne" for new
suhwaNs it is easy to see that under
the most favorable terms the city could
no; build the lines for itself in many
years. The r. r. 7 will contribute
about Soo'ooo,oO0. me lnterborough's
share in the new lines will cost about
have arranged to provide sli2 100000.
Now suppus'ng that New Iork's real
e~tdt" SNa.l increase IN value faster
thdh al present ana mat IN" average
FOR hfieen years will be az high az
S3ooooooOo year the borrowing ca
paciiy would increase at the average
rat" ot Soo'ooo.oo". nder the law the
city cannot borrow more than 10 per
nf total nf fG.N rnn-
er'y within its boundaries And sup
posing mat TINS s3o0oooOO could be
split Into such parts as I" allow sl0,-
100000 for snhways and s20,oo0,o00 for
other municipal improvements It would
be more than fourteen years before the
city could lot all the contracts which
VIII he lei IN the next three years Tor
subway building. And the fourteen
years would not begin until 1915. when
IN" greater part OF NE dual system
Will De IN operation.
~ course sild MT. McAneny last
hIeh'' Some sudden sh!ft might come
:" ,nat IN" 'l'Fs borrowing capacity
"ouln Jump very much NOR" 'han 500
""V'Vo wear IN 'hat case the JON
'""'" W. "'h' IN zen years hu' there
- u" present '''ui'a ''oh 'nat rea' estate
"4' s'n''u H. "'I'aaF assesseu Na!ues
"pp. oH '''a' nv ,"'u'1 anu 'eai
.9'''- o"n. "'"'' nov "e'o"''' n'sher
'' POM vi "a" ''"''oNets!
nt,' va" Pu' al '"'S
-, = 9 w.,,,,a ..,.
=, a'e i'ot
w :" ."'S
+, ~"
,t.'. ,,',,, -, W., "'
,.,,, ,,, eco ,'',. "
r,o,.. -, ~ H., -,
sa ,.ha, 49,, 49,, ,an
oraors ,r, pro,,,,,.,, a,a rha un,
,,.a,,tI -, aa,,,,, 49, 80.
Nirn y NaI,hio ,b. ,.r,h.r -, ~.
prhll, sergio, Cou,ntss,on ,,,a no..
fou,h, IN. dus, sys,ar, ,rorn ,ha ha
,,in,,inr nos .,,a,,.,oa ,.a, ,,.
n,hIoh ,,,arI, ,n, No h,,i, ,,,..,
- ,h so,.o,,, ,,,o,,,, IT,, T., u,
ha,,a,, ,ha ,,,,, non, ,,,,,,, -.
,i,a ro., p,,.,.
,,r,,,,,,., na ,,,s, -, ,,o s,,, -"
,,ta w. Na,,i,ia 49,.
,,''as' ,,,, l,,,Ia 49, IL, NV
Ua.' .'",' ,,', ~. Yn,' ~ 80 az,
, -, ""u ,,"' i,' 'pa""' "ouu
,'' ~ ",'H ", % ~,, ~ eN."u
This plan would provide for a mun,ci.