A GIGANTIC SCHEME.

Taranaki Daily News, Volume LV, Issue 100, 13 September 1912, Page 8

A GIGANTIC SCHEME.

The New York Central and the New [York, New Haven and Hartford Raili ways nine years ago joined forces for the Iconstruction of a gigantic terminal yard ,in the heart of New York. The new terI minal is the largest railway terminal in I the world, covering seventy acres. Part of the site on which it was built was occupied by the old New York Central ter- ' minal, and the new terminal had to be l built without interfering for a moment with the daily traffic of the great 'railroad. The work has at last been accomplished. The engineers have removed two hundred old buildings and twentyfive miles of pipes and sewers from the area added to the enlarged terminal, and an entirely new sewerage system has been installed, the busiest railroad tunnel in the world lias been replaced by a new one, the old station has been pulled down and replaced by a larger one, all without injuring a passenger or delaying a train, and, stranger still, without costing the companies a single penny. The work cost in all over £30,000,000, but in carrying out this new project the companies concerned have added to their assets interest-producing property which [more than covers this tremendous expenditure. The new terminal yard has been sunk fifty feet beneath the street level, roofed over with steel and concrete, and the whole of tho space formerly occupied by railway yards and cheap unsightly structures has been covered by [seventeen blocks of office buildings, all of which are designed, eventually, to be jat least twenty storeys high. Tho rental | from these buildings, situated as they [are in the heart of the business portion of the city, will pay a very handsome return on the whole of the capital invested, while the railway companies receive in i addition the advantages of new and magnificent offices, stations, and all the adjuncts of a irr.iafc icrminal yard.