The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-09-28
THE NEW CAB COMPANY.

WHAT ARE IT'S PROSPECTS FOR THE FUTURE?-
ITS PRESENT CONDITION.
Early In June the project OF forming new cab COM
pany was pushed forward with great deal of vgor,
and II was promised that by tho LIST Of October 100
brougbams and fifty hansoms would be In streets.
number Of English capitalists. including many we'll
known names. wero reported TO be In tho movement,
and IL was said that not less than $l50,0o0 English
capital had been subscribed The English stock
holders were represented by Mr. Frank kavanagh.
relative OF u distinguished member Of Parliament, who
was understood to be tho prime in the project.
For time everything went swmmingly, and american
influence and American capital were enlisted in the
enterprise. Sixteen commissioners, including Mr..
Kavanagl aud SUCH Of most public spirited citi-
zcns us Mcssrs John Townshend X. w. Forbes Elliott
r. shepard. Clarence seward aud Ferdinand T. Earle,
were appointed to have charge OF tho affairs Of
the company and IN every way to promote It's In
tcrcsls. Unfortunately the LIST Of October has nearly
arrived aud only the cabs ready be put
Ia Streets but there Is no immediate promise that
they will be ready to 10 placed there for some time 10
come. People are beginning to write to the HERALD
asking tor information as TO the fate OF the company
whether IL has died second time still lives, and
when 1t goes INTO operation 'Thc people," writes
ono OF these inqulrers 'undcrstood that the second
pany sure thing and that VIC were TO live in
u civilized community aud have cheap and quick car.
rage to every part Of the city, in London and
Paris.n Inquiry yesterday elected the Information
tha, the company has not yet died, but that IS in
moribund state, and that meeting OF the commits
soncrs viii be held ON Saturday next to consider lis
cond ton.
DELICATE CONDITION OF TIE COMPANY.
In conversation with gentleman who Is ono OF the
original subscribers to The stock and who ono oi
tho most active promoters Of the scheme, a HERALD
reporter learned that just now the company Is In a
very prccari0us state. The delay In bringing tho
English capua here has had bad effect aud will,
probably. end in dissolving the combination OF Amer
lean gentleman who we're anxious to JOIN with tho
English capitalists. IL was inc impression Of the
HERALD's informant that considerable part of this
capital was paid IN, but INQUIRY ut the company's
bankers elected The information that only small part
OF u was paid. Nearly oil the money subscribed by
American capitalists has been paid but In itself this IS
not sufficient with which to organize the company
and place IL working basis. What scheme viii now
be adopted Is uncertain out u Is understood that there
two projects on fo0t either oil which may give tho
city cheap cabs.
WAR THE ENGLISH CAPITALISTS ARE DOING.
One OF these IS said TO DO design Of tho English
capitalists 10 unite with the cab pany previously
formed aud by merging both organizations into one
concern 10 obtain sufficient capital with which 10 be.
gin the enterprise This, OF course IL only intended
IN case of the failure OF tho original but
IL is said that negotiations have been already begun
looking 10 that end Mr. kavanagh has been IN Phila-
capital been subscribed toward the enterprise, put
the HERALDs informant said he Is still sanguine OF
ultimate success The failure Of the English capa
In the streets by the LIST of october IS generally
dcpored but II the English capitalists send over their
subscriptions sufficient sums TO warrant the enter
prise II IS believed that, IN srite OF the dissatisfaction
which Is tho result OF the delay, most OF tho American
subscribers Will continue with tho company.
Mr.. Kavanughs company lais altogether' CUES.
ton which Is likely TO be determined WITHIN tne present
week. then that the commissioners Will either
form another company or pay back Tho money when
has already been paid In. The desire OF forming an
American company entirely independents OF the Englsh
capitalists seems to have taken strong hold upon some
Of tho original frIenus oil the English schcme SO
anxious are they to promote a cheap CAB system In
New York, but II there tho slightest hope oil he sue
cess Of tho English scheme they W II not place any
obstacles In the way Just tho whole matter Is In
a complete middle, and OF the friends are AFRAID
TO speak Of the cab company for fosr OF k'lngit