The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-04

as practically equivalent to rental. the
only difference between rental and In
terest being that in n case the city
has to make q large cash investment,
while in the other case the city will
be required to furnish only the money
necessary to connect the two systems,
which Is estimated At approximately
$500. 900.
According to the statement prepared
by the association. the new rapid
transit lines In The Bronx are esti-
mated 4 cost $33, 900. 900. on which he
interest charge al o per cent. YOU
amount to 1885, 900 q year, or more
han six times the proposed rental OF
tho Long Island tracks. The White
Plains avenue line 10 estimated to cost
S~4.lls.00o. on which he interest would
be S205.950 . year. while on the Jerome
avenue line. estimated to cost $7.745,-
900, the annual interest charge would
be S8S7.260. The Southern Boulevard
and westchester avenu line Is esti-
mated to cost 3l6,1B6.0o0. with an
annual interest charge Of Ss01,s00.
which Tor this one line Is more than
three times the proposed rental Of the
Long Island tracks.
In making a comparison with tho in
terest charge on the new rapid transit
lines in Brooklyn II il pointed out that
the Eastern Parkway line will cost APP
proximately $40, $50, 600. calling for an
interest charge of SAL 900 a year; that
the Coney Island lines. including ter
minals. will cost approximately sl9.-
600, O00. with an interest charge Of
S95O,0O0 n year. and that the Fourth
avenue subway, estimated TO cost S2l.-
32l 900, calls for an interest payment
Of 81 ,086.050 a year. or more than four
times tho rental OF he Long Island
tracks.
Many additional reasons are advanced
by north shore residents why the city
should act favorably on the proposed
extension OF the rapid transit area.
chief OF these is that the Third ward
Of Queens. which Is the north shore,
has n an assessment increase during
the last seven years amounting to SAL
900, 600, on which an increased city
borrowing capacity Is based and money
made available for subway constric-
ton. 1t is complained that not one
cent Ia going back To the property In
transit improvements.
Should the city adopt the plan TO Lease
tho railroad tracks and have subway
trains operated over them a most at
tractive homo section would be opened
for rapid settlement. The end Of the
subway line would be at Little Neck. i'm
medlateIy adJOlnlnR treAt NeCk, l<tho
Success. and the residences OF William
Is. Vanderbilt and many other promi-
nent men. This section OF the country.
starting in at Bayside. Is rolling and
wooded. all sand and gravel, and after
n heavy rain It IL dry within ten or tf-
teen minutes. The end OF the line would
be directly on Little Neck Bay. where
there Is every facility for boating, bath
ing and fishing. and Immediately ad-
joining the Great Neck Golf Club.
Tit proposed Long Island Railroad
contract not only has the Endorsement OF
the North Shore Transit Association and
the Third Ward Rapid Transit League,
but also OF the Chamber OF Commerce of
the Borough OF Queens. tho Flushing
Business Mems Association. the Flush
ing Association. the Upper Broadway
Improvement Association, the Bayside
civic Association. the Little Neck civic
Association. the Douglaston Civic Asso-
citation. the College Point Taxpayers
Association. the Whitestone Improve
ment Association and of practically all
the property owners and residents Of
the Third ward Of the Borough of
0usenA