New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-10-30
PROMISE or Rapid TRANSIT

THE STOCK or THy MANHATTAN RAILWAY COMP
NY SUBSCRIBED FOR AND A PERcESTAGE PAID
PROSPECTS OF THy WORK.
The Rapid Transit Commissioners met yes
to-day morning at the Corn Exchange Bank AID opcnoA
the books for subscriptions TO the capital stock OF the
Manhattan Railway Company. previous arrangement
had been made between tho leading representatives OF
the Gilbert and the NewYork Elevated Railway COmps
MES that the stock Of the Company should be equally
divided between thom within half an hour after tho
books were op ned the whole Of the capital stock
s 600 OOC was subscribed and FIVE per cent OF the sub
scrptions paid IN to c. J. Canda, Treasurer OF tho
BOARD O. Commissioners The stock was taken by 20
persons-13 from each OF tho Companies pre-
yiously mentioned Among these David DAVIS, JOHN
f. Tracy William l.. Scott. Milton CourtTight. Alexander
T. Orr Com Garrison Jose r. Navarro r. IT, Tows. ard
Mr. sotolongo. The subscriptions made subject 70
the distributions hereafter to be made by the Commits
sonrrs The Commissioners reserve TO themselves the
right reject any subscription and a1o to distribute to
any subscriber number OF shares less than tae number
for which he may have subscribed, exercising their dis
erection 70 make such distribution a. NAV he conSdred
by them most favorable to the aeeomIshinento OF the
work. -. -
who represents in the Rapid Transit As-oeia-
ton that was organn'u year or Two avo, cis 0" ~
with the ayOved intention OF suDsclD nS sIVoOVy or
ten q his friends The fuli nmolnt however had Do
closed TIE 100000 stock was at once tendsred Mr.
More by David Bows, who Insisted that no l,ir Nor
rrlU shOul either add tho names 10 tue tuDScltptiol
hook or take portion ~ Nr. DOws's stock Both ~
these propositions NJ. Morre declined 10 acoep and
ieft the bank, apparently ia no pleasant hu!nor
A private meeting ~ Che Commissioners was 'l;ble-
oneu,ly held VIXEN. It Is understood, the names Of the
.uDsoriDrrs and subscribed were approved A
meeting OF the stockholders will b. held ut the expiration
of ten day, from the time tine subscriptions were made,
when the dir, and officers OF the new company VIII
De The money paid IN has been deposited IN inc
Corn Exchange Eank. The Board OF Comm sOnefs nd.
ioururI for two weeks member Of the Board stalled
gcaiertay that their work nearly hns6ed. Be-
fore thcy az in the Board % Drrctos ~ the new
CoDuauy NIL have been aEZ"I, and little viii remain
for hm to further than % hand over the books and
papers and tie money already pad in 10 the officers
0f do Manhattan Company. Milton Count ght, Pres dent
" tue NewI0rk Lil aed Railroad stated to reporter
OF TIE TGBUNE that ii was the intention of tlos WHO
have subscribed to tue stock OF the Manhattan Company
To- proceed as rapidly possible with tie construction
oil Inc road from the Battery Up To the BO@ery aud
Third ave- bii this will b. done uIder the old tlartCs
Granted his Company and the Gilbert Elevated Raway
Company uult obstruction IL thrown IN the way
to their operating under these charters, IA which
Gaze they will avail themselves ~ ire rights ami pHf
leges secured the Company TIE Manhattan Conn
pany will be entirely Independent Of the Old companies
having separate and indie pcndent organization, but tho
leading stockholders OF tine Old companies will own and
control former Company lie thought that TIE sub
scrpton OF the whole amount Of STOCK, and the payment
OF 100000 III cash, Was nuucltnJ guarantee OL Ile
I'm urU5gCItiDD pl the MOrk.