New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-18
MILL CL|NCH SUBWAYS
TOMORROW FOR SURE
eleven A. M. Set as DefInlte
Hour When Mccall Is to
Sign Contracts.
CITY KEEPS $4,000, 1000
Public Service and Companies
Attorneys, After Long
Wrangle, Agree on
Final Terms.

Tho contracts for the dual transit sEs-
tom will be finally signed. sealed ana
delivered tomorrow morning at ii O'CLOCK
That time has been actually fixed Tor the
ceremony that will wind up two years
Of negotiations. That is, that's how II
looked last night.
The delay in the last four or five day
las been due to the fact that the Of
hcials of the marlborough Rapid Tran
sit Company have wanted the city 10
appropriate more at this time than the
city officials have thought necessary 10
cover the city's participation in the IN
terborough lines. The two companies
at first wanted the city to set aside
Sos. 900 coo
Borough President McAneny and the
other city conferrees after number
Of sessions with the lawyers of the com
panies succeeded in getting that ngure
down by about sl6Cco,oOO. Yesterday
counsel for the lnterboroush company
pleaded 10 have another 100000 added
10 their allowance. There was another
conference and. far from getting the al
dtlonal amount that they asked, they
found that they had 10 accept further
cut OF 100000.
One Detail Left for To-day.
The Public Service Commission VIII
meet this morning and approve the mort
sage Of the Interborough company ana
make tie requisition on The Board OF
Estimate for the clty's estimated snare
of the participation in both contracts. II
will then adjourn until II o'clock -to-mor-
row morning. at which time it is plan
ned 10 sign the contracts.
The Board of Estimate will meet at
o'clock and approve of the contracts. the
various elevated certificates and two traf-
&c agreements between the Interborough
company and the Brooklyn Rapid Tran
sit Company. il will also appropriate
100000 TO complete the city's share OF
participation in the Brooklyn Rapid Tran
sit lines and s2S.90oco0 TO complete its
participation in the lines TO be taken by
the Interborough Company. This is based
on the expectation that the contracts
for the two sections in northern Queens
which are to cost s2.9O0e00. will have
been registered and already have become
ID liability against the debt limit by that
be appropriated for the Interborough
Company.
This will make an appropriation to-
morrow of SIS, 200 900 TO complete the city's
participation. Already $685. SOS has beer
appropriated. and most Of it spent, fol
the Centre street loop, the Fourth avenue
subway in Brooklyn. the sections of tn
Broadway Manhattan line and the Lex
vA,n avenue line, now under construc
ton. and tho Queens lines already spoker
Of This makes a total cost 10 the cit,
for the dual transit system Of $lGG, s37, 62S.
Leaves City s3,sooooo Margin.
The legal borrowing margin Of the city
is now about Sl62, Oo,o0O. OF that amount
some 100000 has already been author
lied for various public purposes. but not
all has Deen registered against the debt
limit Taking this and the SIS, 10000 sub
way money out leaves about $500 90
for other municipal purposes. This may
he ADDED to by several millions author
lied for other purposes, but against which
no contracts have been made as yet
At the final conference in the rooms OF
the Public Service Commission yesterday
were President Shonts of the Interior.
ough. Chairman Mccall and other mem.
hers of the commission. Controller Prem
dergast. Borough President McAneny and
lawyers for the company and the city.
J. Aspinwall Hodge, counsel for the
Continental Securities Company and
other minority stockholders of the Inter
borough, filed protest with the Public
Service Commission against the certih-
cate Of that company that a majority OF
the stockholders had ratified the proposed
mortgage. He said that at meeting Of
the marlborough stockholders tomorrow
TO ratify some changes in the mortgage
necesstated by the agreement between
the company and the Manhattan Railway
Company he would exhaust every means
At his command TO prevent the final ratl-
fiCatiOn.