The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-11-13
THIRD AVENUE RAILROAD.

ANNUAL ELECTION OF DIRECTORS THE HAkr
TICKET sUccEssFUL-oENERAL WEBB WITH
DRAWS IN INDIGNATION FROM THE MEETING.
The annual meeting OF the stockholders of the
Third Avenue Railroad Company held yester-
day. and the polls we're open for the election of
board directors for the coming year from two to
four p NJ. certain disafection has arisen of late
among number of the stockholders who
opposed to the present management. and it was ex-
pected that opposition would be fully developed
Yesterday. General Alexander y. Webb. president
of the College OF the City or New York, and DR..
Samuel Hall. who are the leaders OF the
opposition. presented their views before the
meeting in the early part Of the after
noon General Webb stated he had no inten-
ton of crticising Mr.. Lyon. the president Of the
road but wished to say few words concerning Mr..
Hart, who was the uncle of Mr. Lyon. and who was
really directing the affairs OF the road He thought
the rolling stock the live stock and con-
nected with the road had deerorated. and he consd
cred the management incomp etent and thought it
was high time that there should be q radical change
in the management OF affairs.
DIR. Samuel Hall spoke in somewhat similar
strain. Mr.. Lyon replied. denying DR.. Halls state
ment
Mr.. Henry Morrison. counsel for tho company. In
behalf of the present management. stated that the
financial statement OF the secretary sufficient
answer to all the charges brought against the
agement. He said that Notwithstanding the decrease
in travel on account OF the elevated railroad the
company had been able during the past fiscal year to
statement
OF the secretary and treasurer of the company Mr..
Charles s. Arthur, who has held the position since
tho incorporation of the company in 1853. showed
that expenses Of the road for the year end
ing September 80 1872 were S70S073 "a $2S3 COG 81
less than in 1873 and $35Gll0 ~ less than in 1877
There outstanding bills or obligations. he
said. except taxes real or personal estate for
November The decrease in expenses might be partly
accounted for by tho fact that labor, material and
supplies OF all kinds at lower figure
than during the past year.
Mr.. Gilbert Birdssli of New Canaan. Conn.,, one of
I'm otO hOl dars he had
failed REIN urse him for certain property belong
ing to him whieh they had sold.
ELECTIoN
When the voting commenced General Webb arose
and challenged the proxies which Mr.. Hart held
form. The inspectors decided to accept the
prox es as they were. and informed General
msSe in the courts The s General aie hear
ing the decision. walked out of the room. re-
fu.ing to vote hi himself H. or deliver the proxy
showed that 1905 out Of 10000 shares were
voted upon. of which tho Hart ticket. so
called. received 14s7s. and the opposition, or
Webb ticket 81. The following is the ticket
elected:-For Directors-Henry Hart. William Rem
sen, Lewis Lyon Thurlow Weed. Samuel willets.
Robert George Remsen. John Watson, John NJ. Sam
ler Moses MITCHELL Maltby G. Lane. Henry Morri-
SON. Henry G Meyi and Archi 1;,, McMartin For
Newton Il. Squires.
The ticket of the opposition follows:-
Remsen, Robert George Remsen, Thurlow Weed.
Maltby G.. Lane. Samuel Hall. John Watson, John
NJ
william H. Falconer Hosea b. Perkins and Henry
Day. For Irspectors-Henry Remsen, Newton
Squires and Charles 8. Arthur.
THURLOw WEEDS VIEWS.
About five O'clock after the meeting and eec
ton were over. Mr.. Thurlow Weed entered
the Office Of the company. He quietly took
chair alongside OF Mr.. Samuel Willets
of the directors. In regard to the mat
ter in question he expressed himself very freely.
and being asked by the reporter what he thought
the OF the late disatfection said. 'Weil.
think the whole trouble has been made bv two men,
General Webb and DR.. Samuel Hall. both good
friends Of minc and very cstiinabe gentlemen. but
they felt aggrieved.
little money andI bought some Third Avenue Rail
road stock ut eighty per and had to borrow half
the money to buy 1t. Not long after the stock ran
down to thirty and came to New York to see about
II. William A. Darling made superintendent of the
road. He found everything in u bad condition. but
improvement, and commenced to
buy stock at twenty-five per cent. and bought
cent. The road soon commenced to pay
q dividend Darling went to Congress and Squires
took his place. The road was going down again
when Phillips was appointed. Phillips reformed
things in every way the expenses were reduced and
the receipts increased. When MIR. Phillips resigned
Mr.. Lyon took charge. under very uniavorable cir
the elevated railroad had ut that time
commenced to have the effect of reducing the
ccipts materially Mr. Lyon. however. has reduced
the expenses, and last Wednesday quarterly
added 10 fourteen per cent already obtained.
making twenty per cent in all for the year, besides
encouraging prospects for future dividends. Under
these circumstances can't see why the management
should be changed"
GENERAL wEpB's CIRCULAR.
circular sent to all the stockholders Of the
company by General Webb. In which the manage
cised. The substance Of this circular published
In the HERALD OF Saturday. Mr.. Edward Lauter-
bach. counsel for Mr.. Hart and Mr.. Lyon. states
that Is the intention Of his clients prosecute
General Webb for prom ulgat1ng libel.