The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-17


before the city cleaned up tie interest
and sinking fund charges. This compu-
tation WAS based on an Investment NJ
$4,000. 900 by tho city and OF &s0,o0o,-
600 by tho 1~nterborough. The increase
In the Investment to he made by the city
and the inclusion Of interest on the COM
pany's deficits during the lean years Of
operation. and the fact that operation
will not begin for at least a year later.
all indicate that this period will be put
q for quite a few years.
Revense for city Distant.
"Onc Of the conditions of;&he contract
ie that the city after cleaning up it's
end and having got It's interest and
sinking u charges shall then begin
to get ar amount equal to 3.26 per
g on Its investment, 70 bring II UP
o N an even keel with tho lessee. II
will be a long. long time before Il over
takes that"
Approximately how long a timer
'"This table indicates that by 1913 the
city would he behind from SO, 900. 900
to 1000. 900. and with the increased
amounts that h city will have TO put
In to finish the work. h prospects are
not improved"
"The Investment Of larger sums by
the company n the city and the post
poh'he OF operation AL operate 20 ANS.
ment tne amount OF the company's pref
erentia ALSO the city.s dencits. and
Also TO proiong the period OF participa-
ton. Is that not true?'
II would like 20 put II more con-
cisely," said Duncan Machines.
Wed like TO rave you," said MIR.
Colby.
The factors that al, came to retard
ve, back .o,reth,rv .rc ,o,av An oc.r..
zion ,n,sra-, nm The I.ss,a.. J.1c,,. an,
IN, Increased c,ost NJ rons,r,,c,inn 70 ,he
cir because therr uiii n. NO ,rcs..sa
4, co., ~ con,,r,,,;nn ,o ,h. Io,.r-
-horou~h-~.u ~ ,h.sa hav. ,ho,. ~.
| suepcs and the ,re.,os, ~ ,h.ss q. ~.
| Increased cos, of co~ns,ruction 70 ths
| ,i,v ~
~. 4, noss,h,s TIM, Tho .,,,r. ne. ~,
IN. hona. NAV nas, ,,,,h.,,, ,h. ,,,y
ma r,,c,na,,r. IN ,ho no, ..rnIn.sg "
No 40 .ny,hinv III, o0,c,su, ~,n-
.v.rer. ard n,hii, s,,.r,,s,on Co az.
.rc,..d ~. re,.,,,.. ~, a.. .,,h..~s
.ho,,,S ,ta., 80, ,h. n,,,,.s ,,s.-a.
-,tthir en-. ne 90 ,ho ,on,ra, IL.
g. .n.s. -.s -, ~.
che a % n.r can, 10 nrohi.ra,,c,i" "
.,Io., ,on. 40 ,o,, ,h,rL ,ha ,,,,.,s
o,~,,;c,r.,;,n ,,,i, h.. $500 &c.,.
| - 49, -.~u.~ -l..p
.t ,,a,.r., - a. aaa...,, a.
m,to n ,.h,,,.,;nr ,h,, uo,,ia ,,.,, .,
49,. a., xnr...1n. 1T :.
80 80 - - s."" "
~ ~ "' '
~. 49,. .
Mr.. Machines then explained that a.
bonds are issued to produce money &c
make up the necessary funds FOR com
pleting the work after the INTERIOR
ough's $5s.000. 900. the limit of its con
%tribution, and the city's contribution
sS5,s25. OOO-are exhausted. addiiiona
bonds Ia meet the interest charges vii
nave I" De ISSUED, lite SAID mat up u
,he prese.t ne h"o assuiheu d ~Teuuc'iot
III 'ne ih~'eroorouen snare OF con
struc'ioh cost OF otiy so.Vo".ooo ior III
terest not slo'oov.ooo or $l.'ooo'
V"o. tne neure 10 when is Aimi''''
o! ih'erporousn OFFICIALS una ih'eres
charged 70 construction may 60
lie then ehter.d mo "A long eNpiaha'
tioh OF the METHODS employed by 'I'
city IN raising money Tor new SUB
ways IN priet. the city issues cor
porate stock hotes LOT snort tine ioah'
az very low rate OF INTEREST ana thef
taxes them up WIN an issue OF pond
wnicn sell AT ioi ana when carry on!
80 per cent interest ne cohtraSte'
th's with the interporoughs method %
nrst ISSUING ponds. which go 70 d. =
Morgan a 20. AT s5.o ana when pea
. per cent. interest. and then dcpositln,
the money received Tor these bonds VIII
the bankers. which remain there bear
ing 30 per cent. interest unti. the none!
IL needed Tor constitution purposes
Your method IL more saving thar
that OF the l~nterborough'' said Senate