One of the most attractive--and, in fact, indispensable features of
the scheme--was that the work of construction, instead of being
subject to the conflicting control of various departments of the City
Government, with their frequent changes in personnel, was under the
exclusive supervision and control of the Rapid Transit Board, a
conservative and continuous body composed of the two principal
officers of the City Government, and five merchants of the very
highest standing in the community.

Provided capitalists could be found to undertake such an extensive
work under the exacting provisions, the scheme was an admirable one
from the taxpayers' point of view. The road would cost the city
practically nothing and the obligation of the contractor to equip and
operate being combined with the agreement to construct furnished a
safeguard against waste of the public funds and insured the prompt
completion of the road. The interest of the contractor in the
successful operation, after construction, furnished a strong incentive
to see that as the construction progressed the details were consistent
with successful operation and to suggest and consent to such
modifications of the contract plans as might appear necessary from an
operating point of view, from time to time. The rental being based
upon the cost encouraged low bids, and the lien of the city upon the
equipment secured the city against all risk, once the road was in
operation.

Immediately after the vote of the electors upon the question of
municipal ownership, the Rapid Transit Commissioners adopted routes
and plans which they had been studying and perfecting since the
failure to find bidders for the franchise under the original Act of
1891. The local authorities approved them, and again the property