The New York herald., 1879-07-08
SHAREHOLDER IN THE NEW YORK ''L."
[BY TELEGRAPH TO THE HERALD

SHAREHOLDER IN THE NEW YORK 81"
[BY TELEGRAPH TO THE HERALD
NEWPORT. r. l.. July T. 1879.
The HERALD correspondent called at the summer
residence OF Mr.. Cyrus W. Field. of New York. to-
night. for the purpose Of asking that gen.
tlemrn IL there was any truth in the
report in circulation in New York to the
effect that he had severed his connection with the
New York Elevated Railway of that city, Mr.. Field
was surprised to learn of any such rumor. He re-
gretted that he just the point of leaving for
New York. but would say that he glad the cor
respondent called.
IL am." said Mr.. Field. much tho largest share.
holder in the New York Elevated Railroad, and have
not sold share for months. and would not for .
moment think of disposing OF . single share at any
thing like the present price. 1 leave Newport in
few moments to attend the meeting of the Executive
COMMITTEES of the Elevated RailToad in New York to-
morrow p
"Have You any idea how such report came to be
.'You may say" Mr.. Field promptly answered.
'that have not the remotest idea how the report
originated. your announcement of the fact being the
frst intmatiou which have had. consider the
stock now much more valuable than ever before"
"What your reasons, Mr.. Field for thinking
the stock more valuable?
"well will tell you. The principal danger to the
elevated railroad property in New York the pos
ability that some parties would get the right to
build an elevated railroad from tho Battery up
last session OF the Legislature. through no
effort of ours. but which tends to make
the stock desirable, forbidding the building of
any elevated railroad south of the City Hall prevents
this. Any elevated railway In New York, to be pro-
htablc must come TO the extreme lower part Of the
city. The leasing OF the New York Elevated and the
Metropolitan railroads to the Manhattan Company
places the management in the hands Of COM
pany and prevents ruinous competition and the
crossing of rival roads on level"
Mr. Fields carriage at this moment rolled up to
the front ana the interview ended as the boat left
N n
The correspondent accompanied Mr.. Field to the
depot and before the carriage reached the wharf he
was convinced that the gentleman had idea
pf ssvering his connection with the railway than he
bad Of going to Zululand tomorrow instead Of to
lhe executive meeting Of the company in which
he is soslargely interested.
NO REDUCTION OF FARES CoNrEMpLArRD-THE
VIEWS OF A CITIZENS ASSOCIATION ON rHR
FOURTH AVENUE SCHEME.
number OF rumors which have been set anoat
within few days past in regard to rapid transit
matters and the development and management Of
the different routes yesterday set thoroughly
at rest by the Investigations OF a HERALD reporter
The occasion for the most of tho rumors was tho
unexpected action OF tho Rapid Transit Commission
chosen some time ago by Mayor Cooper. 1t was
supposed by the public generally, and SO far as can
be learned. by those also who are especially con-
ccrned in rapid transit matters. that tho duty Of
this Commission to determine routes and plans
Tor the westchestcr district The Mayor himself
has said since tho report of the Commission was
presented that no did not expect that they would
tako such action as they did. According TO tho
letter Of the appointment. however. they had tho
authority to do exactly what they did. which
lay out q route from Fordham down 10 tho Harlem
River and from Forty-second street down Fourth
avenue. Lafayette place and Crosby street to tho
City Hall
This was interpreted n matter Of course TO mean
that tho Harlem Railroad. or 1t was popularly
pressed. Mr.. Vanderbilt. would have control of the
route. and Immediately rumors became rite. II
asserted on tho hand that Mr.. Vanderbilt would
certainly build an elevated road down from Forty
second street the Grand Central Depot to the City
Hall through the route mentioned. On the other
hand IL was SAID that he would IL he could aud that
he probably could exchange the privileges ho would
acquire below Forty second street under the now
rangeinen for tho entire the route above
Harlem River.
coNrEyTIHG NEW ROUTE.
While IL is not yet certain that the new route will
be determined upon tthc action OF the Commission
being by no means nnal) tho property owners and
others interested in the matter have taken steps to
contest the establishment OF any elevated road along
the proposed line. Dr. Howard Crosby oven spoke
from his pulpit the subject last Sunday and took
strong grounds against IL. and announced that pc
htions 70 the Common Council were In circulation