The principal conditions imposed by Messrs. Strong & Co. in making their extraordinary offer was that the motive power used on the road should be electricity, or some other element than steam, and that a uniform rate of fare of five cents within the city limits should never be exceeded. It was further insisted that the charter should provide that the city should not take over the road by purchase or otherwise without the consent of two thirds of the bond-holders, and that capital stock should be issued only upon payment of its face value in cash into the company’s treasury, the total amount of such stock never to exceed $20,000,000, except by consent of the bond-holders. Messrs. Strong & Co. further suggested that dividends upon stock should be limited to ten per cent. When earnings exceeded the sum necessary for the payment of a ten per cent dividend, fares should be reduced below the current rate. If the mayor and his advisers approved of the plan as outlined they were invited to join in the name of the city with Messrs. Strong & Co. and others in petitioning the General Assembly at Albany for the necessary legislation. The mayor read slowly the letter in which the plan was set forth in much greater detail than above outlined. When he had finished he looked out of the window upon the trees in the City Hall Park and whistled softly. He allowed his mind to dwell for a few moments upon the significance of what was contained in the plain epistle he held in his hand. Its meaning for the metropolis of the western world, over which he presided, was beyond his mental grasp at first. The one great peril which threatened to dwarf its prosperity and stunt its growth had been removed at a single stroke. It was too good to be true, and the mayor read the long letter from beginning to end a second time. The proposition was clear and specific, and the potent signature left no doubt of its genuineness. The mayor would have lost no time in sharing the good news with his friends and with the city itself; but a postscript contained a request that the matter should be regarded as confidential until there had been a personal exchange of views upon the subject. Messrs. Strong & Co. expressed a desire for a private consultation at any time the mayor might appoint. So the private secretary of His Honor was dispatched at once to New Street, to say that the mayor was quite ready to place his entire day, if desired, at the disposal of the firm.