The New York herald., 1879-07-13
RAPID TRANSIT CONTROL.
CYRUS W. FIELDS sTATEMENT-HE DENoUScEs
THE RUMoRs AS STOCK JoBBING-FUIL FAITH
IN THE FUTURE OF ELEVATED RAILKoADs-
MIxED TRAINS.
70 THE HERALD.


MIXED TRAINS.
by TELEGRAPH TO THE HERALD
NEWPORT, r. l.. July II. 1879
Mr.. Cyrus W. Field has been the busiest resident
of Newport to-day. He has been making arrange.
ments for the reception of his guest. the Duke OF
Argyll, aud this afternoon went to Fall River to
meet the distinguished party and to accompany
them to his residence here. He found time. how
ever to receive the HERALD correspondent. who
waited upon him in reference to matters connected
with the New York elevated railroads which just
are attracting little attention in New York and
elsewhere
Mr.. Field will you favor the HERALD with q few
facts relative to the reports your control Of the
elevated railway?
STOCK sPEcULAroRs AT WORK.
Certainly, although have but few moments to
talk with you. We have the best of for be-
lievng that the reports regarding the elevated rail-
have been started for purpose of spec.
ulation am just i'll receipt of letter from New
York which will read TO you. but don't wish you
to mention names"
The letter dated New York. July 10. and was
from prominent shareholder in the company. who
had called at the Office about the reports which
had been put in circulation regarding the Loan and
Improvement Company. The letter went on to say
WHAT TWO DIRECTORS SAID
have had a long conversation with Mr. -
and Mr.. - both directors of the Loan and I'm.
provement Company. both of whom assured me. in
the most positive manner that there is no design
wish to act against your interests in any way what
On the contrary said Mr.. -. Mr.. Field is
too strong for to be able to get along with
out him. even if wished to. lie has done moro
for rapid transit than any other man. He has .
larger interest than any other and we should
DC acting against against our own interest to al.
HERALD was all the work of Mr. -. who had
bought some Loan and Improvement stock at hig b
al
again so as to get his money back. He assured me
on his honor as gentleman that the report was
absolutely without foundation. Mr.. -. the
other director said he wished to get out of the roads
that he had worked very hard for four to make
1t success; that 1t was now doing spiendidly. and
that he would much prefer devoting himself 10 his
own business. He further said the property was .
magnificent one, and if rightly managed there was
no end to what it might accomplish.
The remainder of the letter referred to matters
foreign to the subject in question After reading the
letter Mr.. Field said
GLAD THAT TILDEN SOLD OUT.
PERSONALLY am very much pleased to know that
Governor Tden and Mr.. Navarro and other large
shareholders have sold portions of their stock and
sincerely hope that all who lack faith in the future
of rapid transit will sell out as soon as possible
the the better. 1t is rumored by some Of
Mr.. Tilden's friends that he has 'ciphered up and
found that by selling share of elevated stock
and buying another he could make some money but
the future will be of any advantage to him or not
The political opponents or Mr.. Tilden tended ia
make matters unpleasant for him and for Others and
view Of this fact think he acted wisely in selling
his stock. and l. in common with others. am glad
that he took this 1t has saved considerable
trouble"
REDUCED FARES.
"what are your views regarding the reduction OF
fares?"
"Well. my views and have been for some time
past that We should run four all trains day
and night on two of which fares should be Ave
cents. and on the other two ten cents should be
charged. By this arrangement passengers could
take tEeir choice, but there has been any
taken by the directors and consequently decision
has been arrived at. 1t is difficult matter to
decide. and you know well do that it is
easy matter to convince company that it should
reduce it's rates one-half. MY faith in the road IL
unshaken. and while have not sold single share
have lately made offers Tor more
vANpERBnTs LINE
''What about Mr.. Vanderbilts liner
''In regard to Mr.. Vanderbilt building the Fourth
Avenue line 1 would say that have not for
moment believed that he seriously entertained such
project for in the first place he told me two years
ago. when l purchased my stock at q fraction Of
what it is selling for now and asked him to join in
the purchase. but which he declined to do, that he
did not believe 1t would pay. And little more than
a year later in conversation with HIM in regard to
bringing the line nearer the Grand Central Depot,
he urged not TO do II, as II would frlghten all
the horses and would be very injurious to the
interests of the public And further he said that
he had instructed his coachman never to drive his
horses under elevated railroad. Now it does ap-
pear ridiculous for i'll 1877 to say the railroad
could not be a success. and in 1873 that 1t would
irighten all the horses and again i'll 1879 ask the
Commissioners af New York to give HIM the Liberty
to build n line OF his own.
TUNNEL ROADS NOT POPULAR
81 don't believe that the public would patronize
line a part of which led through tunnel. DIR.
Hammond, of New York, in letter to me, written
two years ago, stated that the worst of malarial
disease he ever saw was caused by person
travelling through q tunnel on the Fourth Avenue
Railroad. The assertion about frightening horses
coming from gentleman of Mr.. Vanderbit's sa-
gacty, and from who is constantly running
extra trains between New York and Chicago, dis
tance of nearly thousand miles. directly through
the streets and the surface of many important
cities, like Syracuse. Rochester Cleveland and To-
ledo, is equally ridiculous. l believe that rapid
transit is just in its infancy and that II the business
increases in the same proportion to what IT has dur
ing the past two years. when the receipts were but
81 900 day, and which now $4,000 day. IL
Will amount in year more to $4,000 per day."
Is there any truth in the reports of dissensons in
the Board of DirectorsY
'No, there is not Do you suppose that persons
having such large Pecunary interests at stake ara
going to quarrel among themselves? assure YOU
that such reports are false"