The New York herald., 1879-07-09

Ing 70 secure the control OF the Mannartan ana oust
..weli. will give you the facts. The Loan and
Improvement Company has its 81. 900 in Man
It has been sold. 1t has been holding that stock
and II Is holding it with purpose. When
the, the Manhattan ia;a stock was given out the gen
mediately placed upon the market or be
in the hands of shareholders. The New York II
almost any quantity the street. but. as said be-
fore. there is dollar of Metropolitan shares
intact don't you that all the company
has to do to get control Of the Manhattan is walk
down into Wall street. purchase couple Of shares
occurs out will go Mr.. Field. and the Loan and
Improvement Company. which is great and power
ful organization. will take possession.
"To show you." continued this gentleman, "that
know Of what am talking and that l am share
holder and stakeholder in this company will show
you the following. which received yesterday from
the secretary OF the company. will tear my name
of. and you can have it for publication.
Nw xox. c4s NV 1S oax
DEAR smBy virtue Of resolution Of the Board Of Di.
this company date viii oSa.iea 70 rs
@ s.1
OF the New YORK Loan Company stock
Loan and improvement Company stock ut this ohieo on
HAVING "ss holdings aud
Under the same resouton,a cash dividend Of 81 per
~ the same time and place.
L0uis H. BROWN Secretary.
''As will be seen by the above the first issue of
Metropolitan Railroad Company stock will be made
dend to the holders Of the shares OF the Loan and
Improvement Company. You will sec by this docu-
ment that there is talk Of Manhattan shares. They
are keeping tight hold of those.
THE POSSIBLE OBJECT OF THE MOVEMENT.
''what object could the Loan and Improvement
Company have in obtaining control Of the Man
hattan?' asked the reporter.
.There is vast quantity railroad yet to be built
and great deal OF work to be done under the drec-
ia n fha he loan T,,r,r
ment Company can secure the control OF the former
institution. don't you see 1t can give the contracts
the Loan and Improvement Company in the
Manhattan give all the contracts to the Loan and
M ah Company n oa.sde ana pay pay for the ne
to keep up the interest payments guaranteed and 80
long as they do this they could keep control"
isn't Mr.. Cyrus Field too sharp man to have
missed such an important point as this p
II don't know about that. These the facts.
Anybody can draw their own conclusions from
them. don't think. however. that Mr.. Field has
ever yet thought Of this matter; but am willing to
bet when he does see the point he will be most
ANNUAL ELECTIONS.
Three official meetings held yesterday
pany of the Metropolitan IL" Company and
one OF the Executive Committee Of the Manhattan
"L" Company.
The object of the meetings of the Metropolitan
I'll" Company and the Loan and Improvement COM
pany was the election OF officers for the ensuing
year. Proceedings began about eleven O'Clock, and
the polls remained open until two in the afternoon.
About half-past two HERALD reporter obtained
lists Of the directors chosen for Both Boards and
found that they identical with those who served
last year.
The following are the directors Of the Metropolitan
81" Company William II. Garrison. John Baird.
William Foster, Jr.: George M. Pullman. Horace
Porter, Jose F. De Navarro. George j. Forrest. Will
lam .a Adams n Jr; John p Kennedy. Fausto Mora and
were also reelected as follows:-President. William
r: Garrison; Vice President John Baird; Second
Vice President, William Foster, Jr.; Secretary and
Treasurer, John L. Body.
The names of the directors Of the Loan and I'm
pullman. Jose +. De- Navarro. john Baird. William
r. Garrison. NJ Billings. Horace Porter, George j.
Forrest. John J. McCook and william Adams. Jr.
ly:-President George NJ. Pullman Vice President.
Jose +. De Navarro; Secretary. Louis NJ. Brown.
It was stated by Messrs. Garrison and Brown that
no other business had been transacted. Mr.. Garri-
son again denied that there any movement in
the company in favor of reduction Of fares on the
IL" roads, now under the control of the Manhattan
Company.
THE RUMons ABOUT Mr.. FIRLD.
lis there anything new to-day touching the ru-
mored overbalancipg of Mr.. Cyrus W. Fields inhu-
ence in the management Of the l. roads r was
asked.
II do not know that his influence in the company
has decreased" was the reply.
HAS there not been an important change in the
among the directors OF the Manhattan Company
"Not that know Of. can give you no informa-
ton the subject because II such thing has taken
place have not heard OF it,
las to the report that the Loan and Improvement
Company. Of which you are an officer. has had some
important negotiations with the HUDSON Rver Tun-
mel Company-is this truey'
II know OF no such negotiations.
"Has the subject been mooted at all in the Loan
and Improvement Company
mot to my knowledge"
'Is it likely that the Loan and Improvement Com
pany would undertake the work Of tunnelling the
Hudson in any event?"
~ do not that the project at all sntagonistic
to our interests in the L roads-f that is what you
mean."
HAS a bid been made by the Loan and Improve
ment Company upon the work
"K there has do not know of it,.
Mr.. Louis Brown asked similar questions and
with similar The reporter then cal. cd upon
Mr. Cyrus W. Field ana very kindly received.
.Is there anything new which you can impart
respecting the report OF the lessening of your inau
ence in the Manhattan Company
Nothing whatever. II there were should be
most happy to give you any information ut my COM
mand.
is smoke there is generally more or less fire. you
know"
But. in this case. do not know
REDUCTION OF FARES.
roads to five cents ut all hoursY'
'Well. think now. as always We thought. that
each day should contain ivecent and ten-cent
Four cars should be run ON each train. on two
the other two 1t should be ten.
"Do you think that you will your viows carried
out in the near futureY
discussing il the other day with OF the directors
or the Metropolitan. with whom had long
versaiion, and he expressed his agreement with my
views There other directors the leased roads,
however. who are strongly opposed to any reduction
OF the tare
The meeting Of the Executive Committee of the
Manhattan Company tooa place yesterday. but owing
to the absence OF All important member IL was i'm
mediatcy adjourned to eleven O'Clock this morning.
1t is very probable that the truth alsity the
recent rumors regarding Mr. Fields position will be
developed ON this occasion.
In the HERALD OF yesterday conversations about
the IL" roads and the Hudson River Tunnel which
were had with Mr. David Dudley Field were. py an
inexplcable slip or the pen. ascribed to Mr. &. X.
Garrison, who at this moment IL in Europe
BROOKLYN'S al" ROAD.