The New York herald., 1922-08-28

considers the transit commission plan.
contending the commission wants TO
acquire Transportation junk" with the
city's money and says the difference
between the commissions plan and
that Of the city lies mainly in the pur-
pose-the commission wanting to
manipulate the traction situation for
tho benefit OF private interests. while
the city aims to extend. improve and
organize the system for tho benefit Of
the people.
The present net revenues Of the re-
captured portions Of the subway lines
will carry and release about 100000 :
900 OF new city bonds from the debt
margin. which will be used to finance
the city's subway plan." says the
Mayor. taking up the financial aspect
The balance Of the funds needed will
be easily carried. ana amortised out Of
the additional revenues obtained from
the operation o< newly constructed
lines and extensions"
The present borrowing margin IL
$16oNo0o00, the Mayor says. enough
ITO finance all the initial stages OF new
subway construction" II spent on sub
ways this will add hundreds OF mill
ions Of dollars each year to the as
sessed value Of taxable real estate and
expand tho city's borrowing margin ac-
cordingly" and the total during tho
next fifteen years will exceed $4,000
.ooo', and thus add s50o.ooo.ooo to
the city's borrowing capacity"
After saying the commission has
allowed operating companies to use diff
fer4nt types Of cars, making unified
operation difficult. the Mayor says the
construction plan has been divided into
three five year periods. one construc-
tion group following another logically
and the completion OF each group add
Ing 10 per cent to existing transit facil-
tiles. a total Of 120 per cent. One re-
suit Of tho new subways, he asserts.
will be that the privately owned ele-
waited lines will ultimately be removed
because their continued operation will
be Improbable" They will begin to
disappear after the first period Of new
city construction"
Recapture.
The feature Of the plan that may be
the subject OF much controversy. Is that
providing for the recapturc OF existing
lines, As to this the Mayor says ae one
point:
"The earliest date for the 'recapture'
of any substantial part of the city's
subways operated by the Interborough
Rapid Transit Company is 1925, when
ten years will have expired since the
operation OF tho Steinway tunnel from
Forty-second street to Long Island City.
Under the 'recapture' provision In the
contract the city will then be able to
take over a complete leg Of the system
operated by the Interborough.
"For tactical and operating reasons
the city In 1925 will take over the West
Side subway. which runs from 242I
street and Broadway to the Battery and
TO Atlantic avenue, Brooklyn. and which
has branches from Ninety-sixth street
and Broadway to Bronx Park and along
White Plains road to Mount Vernon.
and branch in Brooklyn extending from
the Atlantic avenue station through
Eastern Parkway. with branches through
Nostrand to Flatush avenue. and on
Livonia avenue through the Browns
Vile district TO New Lots road.
THE fftst date for the 'recapture' OF
any SUBSTANTIAL part of the city's subway
operated by the Brooklyn Rapid Transit
is 1926. when the city will be able to
take over the entire system, extending
from Eighty-sixth street. South Brook
lyn, through Broadway (Manhattan)
into Queens Borough"
He writes a little later on:
When. the city's nav subway system
Is completed and in operation there will
remain In the hands of the private opcr-
ators only few rapid transit liAes. One
OF these win be the present East Side
subway. which will remain with the In
terborough Rapid Transit Company Until
the expiration of its lease with the city
In 1896. or until such time prior as II
will have been obliged to dispose OF its
rights to the city. The only other rapid
transit lines which the private conn
pnnies will operate are those parts OF
the elevated structures which they own