New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-06
MANY MINOR CHANGES
IN SUBWAY CONTRACTS
Principal Benefit to City Is $4,000 Taxes
on Steinway Tunnel To Be Paid by Inter-
ugh-Saving on Present Lines

Of substance. There have. however, been
number Of substantial changes, the
more important of which are as follows:
!. In the provision for the swapping
OF the legs of the present subway, there
has been eliminated the clause MAKING
the company's obligation dependent upon
the lien of any existing mortgage. AS
the bonds constituting the company 5
present outstanding mortgage are to be
refunded, there appeared TO be no heed
for the retention of this language.
.. The provision i'm the lnterDorouEh
contract permitting the city To take the
present lines at the end OF thirty-iiNe
years upon an estimate OF their tneh
value. and of the equivalent of the earn
|, ing power for the uneXpired portion or the
lease, has been eliminated. This provision
was originally proposed by the comnls-
sion and not by the company The con-
| ferrees have concluded, however. that IL
would prove of doubtful effectiveness. ana
that reliance upon the ordinary process
of condemnation would be better. TINS
is the clause under which IL had been
claimed that si0U0,00O Of difference to the
city " ould be involved. Actually. il would
have made little or no difference.
3. The clause insisted upon by the In
terbOrough company that they be relieved
OF the payment Of $4,000 arrears OF taxes
Oh the SteinWay tunnel Is eliminated. the
company agreeing TO pay these taxes
\
| assign the tunnel TO the city ut the agreed
nominal price OF S3.pO,OJo
l. The Coney Island b-cent fare prov.-
sion i'm the Brooklyn contract is changed
SO as TO leave no doubt that this fare
shall so into effect as soon as II is pos
s!ble to operate trains from the Municipal
Building. in Manhattan, over the Manhat-
tan Bridge. through the Fourth avenue
! subway. 10 the end Of the new city ele-
waited construction on the New Utrecht
and Culver lines.
.. The manner Of the selection OF the
third member Of the arbitration board. or
depreciation fund board. has been
! changed so as 10 provide that in the event
of failure of the city and the company 10
| agree on the third man he shall be Sc.
lected by the chief justice Of the Court or
Appeals or by an associate judge Of that
court. in the order OF seniority. instead or
by the president OF the Chamber or Com
| merce or OF the Bar Association.
6. The newsstand privileges must now
be put under competitive bidding. under
a form OF contract approved by the com
mission, so that II VIII be possible lof
| individuals to secure these privileges for
| different stations.
:. Contracts have been prepared for the
| Joint operation Of the lines in queens, so
that they may be signed simultaneously
with the main contracts.
s. In the Brooklyn elevated certificates
there has been eliminated the provision
that the Jamaica and Liberty avenue ex-
tensions shall be dependent upon the Sc
curing OF property owners consents 10
the third tracking OF the existing elevated
lines Further restrictions have been
placed upon the trackage rights IN the
loop lines in Nassau street and Flatbush
avenue in case Of recapturc OF the lines
OF the Brooklyn Rapid Transit system.
o There have been placed in the ele-
vated certificates strlnscn; provisions IOr
the control of receipts and expenditures.
ru hpyn added L
ing contracts for maintenance and oper-
alton 10 five years and recurring that all
OF them shall be subject 70 the approval
OF the Commission.
H. In the PETERBOROUGH contract. pro-
vision has been made for the payment OF
additional rental by the lnterborough
Company on city bonds issued since jan
,sry I, 1910. on account Of the construc-
ton OF the present subways. The const-
tutlonsl provision requires that these
bonds shall earn a current net revenue
lin excess OF interest and sinking fund
In the case of the bonds issued prior 10
January I, 1910, the earning OF interest,"
ard sinking fund alone was required.
This viii allow further exemption o.,
about 81. coo from the debt limit
l.. The allowance to the city for ac-
crued depreciation on the companies
present properties has been increased by
adding an additional year = estimate.
l3 In the Interborough contract. in
addition for provision made for accrued
depreciatIOn on the rolling STOCK, theie
is a new provision that in lieu Of such
depreciation on the comp6nys power
house at January !. 1917. the city shall
be credited with 100000 whenever the
property IL taken over.
Il. The Jurisdiction Of the commission
has been extended to cover subsidiary
companies. This Will tend To prevent
the innati of operating expenses.
u. The contracts provide that the CAPT
talizatlon Of replacrments on either sub
WAY or elevated shall be confined 10 the
replacement OF such parts OF the struc-
lions in the character OF the plants di-
.cCtly due to the added service that Will
De required
&C. The removal OF the elevated tracks
on the Bowery to the centre of the street
has been made mandatory. instead OF OPP
tlonal.
II. Tie clause allowing tie company 10
postpou. the construction Of the thltd
track on the Second and Third avenue
.le-ated lines north Of 18th street has
been eliminated. so that this stretch must
n. built as soon as any other
IL The use Of city streets by the COM
many has been restricted 10 such uses
as are required exclusively for the opera =
tion OF the railroads. and the chief en-
cinrer OF the commission is To determine
the types OF construction and the use OF
streets
10 The easements on Grayesend and
New Utrecht avenues owned by the sub
sidlsries OF the Brooklyn Rapid Transit
COMPANY. about Nhich question has been
raised. are taken care Of by separate IN
struuents.