New-York tribune., 1879-11-13
MEETING or STOCKHOLDERS.
CONTROL OF THE THIRD AVENUE LINE.

CONTROL OF THE THIRD AVENUE LINE.
A SHARP CONTEST BETWEEN HE HART AND WEBB
rARTIEs-sR. HART VICTORIOUS.
A meeting of the stockholders of the Third
Avenue Railroad Company was held yesterday. Inc
election of directors was made the occasion OF contest
that had long Impending between the present con
trollers of the road Henry Hart is the leader
and an opposition party led by General Alexander ..
Webb president OF the College Of the city of New
York, who claims that the road has Deeh his-
managed and the property has deprecated through
the alleged incompeency of Lewis Lyon the
president. Mr. Lyon Is the nephew Of Henry
Hart who, It is claimed by his opponents. through
his large interest I'm the stock. which Is over
one quarter of the whole has made the road a family
afftir. General Webb sent circular to each STOCK
holder several weeks dcnouncing the present han
agemeut. An opposition ticket was nominated Win
the names OF \. . webb, samuel Hall, Il. L. Beknap'
W. H. Falconer. H. H. Perkins and Henry Day, In place
of Henry Hart, Lewis Lyon, Moses Mitchell, Henry
Morrison H. c. Hey and A. McMartin, and with the re-
naming names identical on the two tickets-Willam
Remson. TburOw Weed, Samuel Wieis, X. e. Reinsen'
John Watson j. NJ. samlor and Maltby c. Lane. As The
directors are TO the officers the election Involved
the entire management OF the road.
DR.. Samuel Hall said that by prOrer management
the elevated road could have been delayed
wear or two lie repeated charges respecting
the habits Of the president. Mr. LYON. which
the latter warmly denied. adding that his family repre-
sented 700 shares Of stock and me- therefore, had
the of the road at heart aud did his best Tor
II. His pecuniary difficulties, developed by legal
proceedings against him. had been made the ground OF
further objection his holding the presidency Mr.
Morrison the counsel OF the road defended him on that
point General Webb objected TO the proxies oileed by
Mr.. Hart they not In legal form. nor were they
accompanied by sworn afdavs that the shares voted
were owned by the holders free from hypOtheeaon as
required by law. The inspectors said that the question
was for the courts and General Webb Withdrew re-
fusng otter his proxies Consequently tho
Hart ticket was elected by 5OO5 81. out OF 10000
shares. OF which Mr. Hart said to control 1900
Charles Lauterbsch, counsel for Mr. Lyon. said
he should proceed against General Webb both
civilly and cIiuinay for the li0els contained IN
the circulars he had dstubuted and that he thought
as an alumnus of the college OF which General Webb
WAS president that The conduct Of the latter issuing
such circulars signed as president or the college, Wouo
rcsnlt In his removal rom that position lie said
tier that the opposition WAS made because there were
fron C;ener, Wchl's Circular u prove IT, The road
he continued. mas pad good dividends lately a, III
is palmest days. ANA the expenses nave been reduced
,2s3.0OO compared with last year. ana S4s4OOO as
treasurer showed falling oG In passenger receipts o.
SlO3 COO 2G per cent, which was attributed 10 Tue
Tnurlow weed came In after the Adjournment OF the
meeting He said hc had his proxy to Mr.. Hart,
! ns he cuud not bc present 10 person. lie added
cannot the Justice Of changing mnnnrement now
have been connected Win TINS ROAD Ifom ie DeII-
nng. mad ll'te money years ago, WAen iFed IN Al
| hauv which | Invested Ia this STOCK ai 80. In hNc
weeks down 20 80. which Mr.. Hsuscn, then the
larpesf sookuOder told Was because the stock had
| been wniercd. Everything about the road WAS In bad
condition. Bur changes were made. | bought mere
sfDc at - aud 10, and the road Success u Mr.
LYON took When the elevated roads alarmed every
BODY and yet had recently quarterly dividend Of
per cent making 20 per cnl for the ycar and already
hand show OF earnings besides Under such cir
ctim-tauccs | 90 not WHY the IN na cement should
! bc changed. The accident account is now very small
AL accidents al.caby settled for without process
Ol r,y aud m without zeal cause iOr clam
! on the part Of the suicrcr-'
Gilbert Birdsal one Of tie stockholders who voted
against the dominant party. condemned the manage
! meut severely, saying Tie stoch was badly run down,
and officers were incompetent He was formerly
euucrinteudcnt OF tie stables.
General WeJb wa- found at his hofse lexington
ave said The whole story simply - that the IL
said that law there of no avail refused 10
go TO OF law and i"ft The meeting. wished 20
take the road Of tAe hnuds Of man whom Mr Hast
| himself admitted to NJ. q. Lane Nus incompetent"
| But they claim to have reduced expenses"
So they should. Everything is cheaper than for
merly Aud they have deteriofaied the property too"
'Iucy say that you dislike the JrWs."
"Nonscnse Many o. my best friends are Jews, ant
! the best Jews tel me aul rlgnL"
They intend 10 prosecute on f0r yOur circulars"
"Nhat badcrdasnl Inu-e rlrcnai- were privileged
communications 10 the -tocalItr-, and Iactcd Oh Tie
best legal advice ~ Nas~turt'
Ana tney you have Jeopaid4ed Your position as
| president pl the college
| ntul."