The contract (which covered about 200 printed pages) was minute
in detail as to the work to be done, and sweeping powers of
supervision were given the city through the Chief Engineer of the
Board, who by the contract was made arbiter of all questions that
might arise as to the interpretation of the plans and specifications.
The city had been fortunate in securing for the preparation of plans
the services of Mr. William Barclay Parsons, one of the foremost
engineers of the country. For years as Chief Engineer of the Board he
had studied and developed the various plans and it was he who was to
superintend on behalf of the city the completion of the work.
During the thirty-two years of rapid transit discussion between 1868,
when the New York City Central Underground Company was incorporated,
up to 1900, when the invitations for bids were issued by the city,
every scheme for rapid transit had failed because responsible
capitalists could not be found willing to undertake the task of
building a road. Each year had increased the difficulties attending
such an enterprise and the scheme finally evolved had put all of the
risk upon the capitalists who might attempt to finance the work, and
left none upon the city. Without detracting from the credit due the
public-spirited citizens who had evolved the plan of municipal
ownership, it may be safely asserted that the success of the
undertaking depended almost entirely upon the financial backing of the
contractor.
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