Bills Are Introduced On Bi-State Agency And Port Authority Plan Due on Monday
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Trenton, Apr. 7 (AP)—The New Jersey Assembly will try next week to get in step with New York on the rapid transit problem.
The two States have been dancing to the same music this year—a near avalanche of petitions to drop commuter trains. But thus far each has been doing a solo.
Two Administration bills to join the two States were introduced in the Assembly yesterday and promptly moved to second reading, ready for passage next Monday.
One amends a bill signed March 12 by Governor Robert B. Meyner, setting up a bi-state rapid transit agency which will seek a long-range plan to get some 700,000 daily riders in New Jersey to their jobs quickly and easily.
The other would grant New Jersey's approval for the Bi-State Port of New York Authority to borrow $20 million from New York State and buy railroad cars to lease to the New Haven, Long Island and New York Central Railroads.
Assemblyman Martin J. Kesselhaut (D., Essex), the main sponsor, said chances look good for passage of both measures.
The transportation agency would have to be approved by Congress, he said. The rail car bill could not take effect until Congressional approval is secured.
Lance (R., Hunterdon) March 24 by Authority Director Austin J. Tobin. Tobin told Lance if an interchange between the Jersey Central and Hudson & Manhattan Railroads is constructed in New Jersey, it probably will be without funds from the Port Authority.
Tobin, in the letter released yesterday, said it is legally impossible to make such a contribution out of present revenues or reserves.
Lance had asked Tobin if the Port Authority might contribute to the cost of financing the proposed connection. The cost of such an undertaking would range from $15 to $40 million, Tobin estimates.
HEARING POSTPONED
In other transit developments, a scheduled hearing between the Interstate Commerce Commission and representatives of the New York Central Railroad on the carrier's proposal to end its West Shore passenger operations was postponed indefinitely yesterday. The hearing was to have opened yesterday in New York.
Federal Judge Archie O. Dawson has reserved decision on final motions for his approval of the Hudson & Manhattan Railroad's amended reorganization plan, the Associated Press reported today.
The plan, months in the making, has received Securities and Exchange Commission and I.C.C. approval.
Yesterday a group of stockholders asserted the bankrupt line has a potential because of the recent ferry stoppage between New Jersey and Manhattan. When asked if he would authorize the issuance of common stock for common stockholders in the event the stock might some day be of value, Judge Dawson replied he could not authorize the issuance of worthless stock.