The New York herald., 1879-07-08
RAPID TRANSIT MONOPOLY.
Rumors Of a Severe Deal Against
Mr.. Cyrus W. Field.
WHO CONTROLS THE MANHATTAN "Lm
No Present Intentions Of Adopt
ing Five Cent Fares.

There rumors in financial circles yesterday OF
svery interesting character In connection with the
Metropolitan Loan and Improvement Company and
Mr.. Cyrus W. Field. to the effect that Mr. Field had
ost his grip on the roads. owing to some ingenious
tactics employed by the Metropolitan to secure the
control Of the Manhattan Company
HERALD reporter visited 1.-The street. for the
purpose Of verifying If possible the rumors and had
the good fortune to meet member Of the Loan and
Improvement Company.
sis there any truth in the rumor that Cyrus W.
Field has been victinized by the Metropolitan Com
pany."
"Well, don't want my name used in this matter.
nor do want to be quoted authority. but
think Mr.. Field has been euchred by the Metropoli
tan people. and that they will practically have
troll of the Manhattan. There some queer
rumors ahoat; but then you cannot be-
lieve half you hear. There is nothing at
this time that be said about this matter
moan nothing definite. The Loan and Improvement
Company holds its meeting tomorrow. and after the
adjournment think can give you some interest
ing facts for the HERALD in regard to the combina
tion OF the roads, the division Of the stock apd Mr.
Fields present position
"There Is q rumor that the Loan and Improve
ment Company has made contract to construct the
Hudson River Tunnel. What are the facts about
thisP"
II understand that on July or the Loan and
Improvement Company put in . bid to do the work
and the probabilities that it will the
tract but that of course is not decided yet. But
don't want say anything about the affairs Of
the company. Tomorrow there will be q meeting
and 1t will probably be very interesting one for
the company has some great projects on hand"
STOCK TAKEN FOR DIVIDENDS.
4 The reporter left without any very clear concep-
tion Of the situation, and waited upon prominent
banker and broker usually we'll posted the affairs
of the great corporations. The reporter put the
question in the former interview in relation
to Mr.. Field and the Manhattan Company. and the
gentleman said
II have heard a rumor that Cyrus Field is likely
to ont of the little end of the horn by the re-
cent consolidation and that he will to q certain
tent lose control heard that the Metropolitan "L"
road people after having secured their share of
tho Manhattan company's stock had taken their
dividend in the stock. and that they
have managed to get the controlling interest in the
latter organization, but l know nothing definite
about the matter and there may be no truth in 1t.
You know Wall street is first class place for ru-
mors and these may have emunated from the brain
OF some stock jobber who hoped to make something
by affecting prices one way or the other.
NEWS TO MR.. GARRISON.
When questioned last evening regarding the re-
port that Mr.. Cyrus w. Field had been deprived Of
his influence in the Manhattan "L" Company
through the New York Loan and Improvement
Company obtaining controlling interest therein.
Mr.. o. X. Garrison, OF the directors
of the1atter, and also Of the Metropolitan "L Com
pany said that the statement entirely new to
him. He had neither heard nor thought Of such
thing. He did not deny it or express doubt of its
that II 1t was true he was totally ignorant Of it,