The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-05-23
PRICE TWO CENTS.
RAPID TRANSIT SETTLED.
THE COMPACT or TIE ELEV4TED
RIILROAD COMPANIES.


All the Roads 60 he Practically Controlled by
tho New Manhattan Compnny-DivIdIna
Up the Routes aud Pooling the Earnings.
Tho differences between the New York and
the Metropolitan Elevated Railroad Companies
that originated in the fact that each company
had chartered rights Of way through the same
streets. namely. Pearl and Chatham. have been
settled. after many conferences between tho
representatives OF the two roads. Tho compa-
nes reached partial settlement OF difficulties
after a hearing before the Legislative Com
mittee on tho 9th OF April. This was that the
tracks Of one road should not cross those OF tho
other on level. and that thore should be no
Joint use Of tracks by the trains Of the two COM
panlee. Following from this four plans were
TO be discussed with view TO tho adoption OF
one in tho following order: First. separate
lines throughout each road to make some con-
cession OF route; these concessions 10 be offset
one against another 80 far as could be agreed,
and other compensation TO be paid for any in
equality. Second. n division OF the profits on
Joint lines. Third. one company to take all tho
lines east OF Whitehall street. Broadway and
Fourth avenue from Fourteenth street. and the
other company to take all the tracks and rights
OF way west Of that dividing line. In this event
tho companies were to agree upon the amounts
to be paid by ono to the other.
The final article Of the agreement was that In
NoSo up Ouo Oh inc ufSt tnroe propositions
could be adopted the fourth should be- 1t con-
tained the outline OF n working arrangement
Of the two roads under tho management OF tho
Manhatan Halfway Company. This plan was
prSdsMSnteh rd M 9y Mr. Naygrro q the Metropolitan
provided that all such details as could not be
agreed upon should be submitted to arbitra-
The premises OF tho Committees' agreement
and It's ilrst proposition became known to tho
public soon after 1t was signed on April O. The
understanding hopu
the only plan under discussion. for the asser-
The SUN was able 10 announce, however,
several weeks ago, that what proves to be the
last proposal OF tho agreement was tho one
bility be executed.
Failing to accomplish anything in formal ses-
worked upon the problems involved informally
among themselves: On ,Mednesday Cyrus w.
for Europe. and II was deemed advisable to
settle the matter previous TO his departure.
those details upon which thero had been want.
ing il nnaplmlty OF opinion were agreed to. and
Bishop was ratified Ii tcontempiaies the rotcn-
ton oy each company OF the property now held
by T. including both structure and rolling
stock. except that. upon the, completion Of the
Second avenue line Of tho Metropolitan Com
banyi its cars viii be run ever the
Company from'Chatham square to South Ferry.
The Metropoitan will pay to the New York one
minus Of the Third avenue line will be at the
City Hall. nor will that line be continued or an
effort be made to extend it further to the south
ward. Passengers will be transferred from one
road to the other at Chatham square The most
important change on the west side is to be the
extension of the tracks to the Metropolitan Sixth
avenue line through New Church street to tho
structure through the Battery now used 10y The
New York road, The Sixth avenue line will
then run from tho South Ferry, and the Ninth
avenue line will stop at the junction above mem
uoned where passengers Will be transferred as
By looking over the completed and contem-
plated structures OF the two companies It will
be seen that they will eventually be- about equal
in point OF measurement. This Is the inten-
tion Of the companies. and any inequality will
possibly be adjusted by the purchase OF a part
10y one. and in other ways the entire plant OF
one 4 to be made equal to that Of tho other
The Manhattan Company will then assume the
net profits equally Between between tho u companics oini
Each has the same amount oi stock outstand-
Ing namely, $1,000 600 so each might pay the
same dividend. barring interest obligations
upon bonded debt
the routes laid out 10y the Rapid Transit Conn
mssloncrs IN case no other company should
largest stockholders in both the New York and
ehise The capital stock was s20o00o0 They
PAID III nve per cent. or 100000 each. Tho
with the iulhiment OF the terms OF tho
charters Of the present companies. But
!his his. company within company has
l9rmal meeting annually and eectinss Sins a
| President. and Secretary and Treasurer. At an
| election held "a few days ago President VIM. r.
| Garrison was chosen President and Vice Pros
! ident \. Guiliord of the New York road WIS
elected Secretary and Treasurer. The other
members Of the company nre Geo. VI. Pullman.
John Baird, Horace Porter. and Jose i. de Ma
| yarro Of the Metropolitan, and Cyrus W. Field
| Josiah NJ Fiske md Mcssrs. barney and
| Bishop of the New York Company. Those in
terosted in the two roads admitted that the new
Arrangement was practically a consolidation Of
| the roads though the property of each will DO
| kept distinct and the names, organization. &C..
| OF the companies preserved. They sny that tho
| roads can thus be run more economically. and
| that the public can be- better accommodated No
attempt 10 advance the present rates of fare ia
| contemplated.