There has been a good deal of trouble over this Kingsbridge Road
franchise. Two companies have been anxious to secure it, but neither has
offered to pay its real value for it.
The granting of the franchise is done by the vote of the Board of
Aldermen, who pass the resolution much in the same way that Congress
passes a bill, and send their resolution to the Mayor for his signature,
in the same manner that bills are sent to the President.
In the matter of the Kingsbridge Road franchise neither of the companies
made much headway.
Both companies were extremely anxious to get possession of the line, but
the aldermen were equally divided in their favor.
At last a rumor got abroad that in their desire to get a decision the
companies were trying to influence the aldermen.
A few days after this report was spread abroad, people were startled to
learn that the aldermen had reached a decision, and that the franchise
was to be given to the Third Avenue road, for a sum that was nothing
like its real value.
There was a great outcry at once.
The memory of the "Broadway Steal" in 1886 was too fresh in people's
minds for them to be willing that it should be repeated.
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