... That legal
proceedings will be undertaken which will, to some extent at least,
interfere with the progress of this work seems to be inevitable...."
Another difficulty was that the Constitution of the State of New York
limited the debt-incurring power of the city. The capacity of the city
to undertake the work had been much discussed in the courts, and the
Supreme Court of the State had disposed of that phase of the situation
by suggesting that it did not make much difference to the municipality
whether or not the debt limit permitted a contract for the work,
because if the limit should be exceeded, "no liability could possibly
be imposed upon the city," a view which might comfort the timid
taxpayers but could hardly be expected to give confidence to the
capitalists who might undertake the execution of the contract.
Various corporations, organized during the thirty odd years of
unsuccessful attempts by the city to secure underground rapid transit,
claimed that their franchises gave them vested rights in the streets
to the exclusion of the new enterprise, and they were prepared to
assert their rights in the courts. (The Underground Railroad Company
of the City of New York sought to enjoin the building of the road and
carried their contest to the Supreme Court of the United States which
did not finally decide the questions raised until March, 1904, when
the subway was practically complete.)
Rival transportation companies stood ready to obstruct the work and
encourage whomever might find objection to the building of the road.
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