New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-12-10
RAILROAD NEWS.
STILL FIGHTING AN AGREEMENT.
ANOTHER SUIT TO PREVENT A UNION OF THE Eli
yATPD ROADS

ANOTHER SUIT TO PREVENT UNION OF THE ILL
WAITED ROADS.
Tn the United States Circuit Court yesterday
argument was heard by Judge Blatchford III sun
brought by George A. Flagg and kdmundP hesdIcA'V VI
Massachusetts, joel Farist, Charles Huns ana ho'"''
W. Hills OF Connecticut. against the Mammalian hai""J
Company the New-York Elevated Railway Company
and the Metropolitan Elevated Railway Co mpany ILe
suit ia similar in many respects to one brought against
the same defendants by Benjamin Gillette ana tue a'
davits In that suit Incorporated in the now oh -"
argument yesterday on an application 10 Tue "ou'
TO declare that the agreement between the deehdAn'
dated October 22, 1881, null. void and inoPeraNe'
and that they he restrained from performing any OF us
proysons In 40 far rs they undertake 70 change the terms
of the triparte agreement May 1879 Itaaso asKeu
that the Metropolitan Company may be enJoiheh iio-
doing anything which shall modify or Impair mo
guaranty on its stock given by the Manhatan COMPANY!
and similar order is asa ii for against the Manhattan
Company.
Stephen p Nash, counsel for The petitioners read
number OF afd wits among them one by sylvester H.
Kneeland vice-prrsdent OF the Metropolitan Company
Mr. Kueeland SAYS that anticipation OF the cecon
directors of the Metropolitan Company III Juyl9''
he conferred with Russell Sage, and with hin cast va"
joy Of the that occasion. lie had invested III
the stock convinced OF its intrinsic value and no nnde
stood that Mr. sage was Of the opinion that the invest
ment would I've o profitable II Tho management Oh
the road was proper. Before the election he inGdeeu
Jay Gould to consider the value OF the road, ana ne
votc for Mr.. Gould director skctch OF Tue uusH
ton which ended in the agreement Of October ~ lSS
ia then given and the hasty manner in which the
agreement was completed IL referred to- The huctua
lions IN Manhattan stock quoted 10 show the ehec'
OF the manipulation. His opposition as vice pEesuent
OF the Metropolitan aud that OF Mr. Stout, one O Tue
directors Of the company, next referred TO- ana M
Kneeland denies that It the result OF sptcula'No
desires He asserts that he was told by W. H. conner
-. I'll. Ia tf.rtn gUI
broker. that the company would be cracked that ne
was advised by Mr. 10 sell ont. and Informed mat
he be told wheL 10 invest In Manhattan He docs
not believe that the agreement Is necessary to save the
system Of elevated RAILROADS from ruin, neither mat IL
is necessary 20 subordinate the interest OF the NC
troy Titan Company to that of he NewYork Company
Tnc relative values Of the two companies Is con
sticred and IL is argued that the value OF the
Metropolitan Is greater than that OF the New-f"rk Con"
pauy alleges that the agreement oil OCTOBER ~
1881 the metropolitan Company las transferred through
the New-York Loan and Improvement Company real
estate worth 81 1900 20 the Mania tan Company
without consideration, ard that The metropolitan Com
p.ny s intending 10 issue $2pOO'Ut trcnbd mort
gage bonds to purchase additional real estate ana I'M
proyemens fnis issue IL IA MSS rtcl IL maze
only by the above transfer lie IrthcI says thlt i1VDV
Of the $1,000 shares of heiro an STOCK are OPP
among tie Other adiavits read was enc by Joseph II.
stout declaring that the Of the metropolitan
NcSiYoTk Company Another was from sarnuSl
the cevatcd road structures which he thai tie
Mctropojtan structure can carry 80 -3 per cent
weight than that ~ the N,w-IOrG Company, and that
the lines Of the Nowi0rk Company are now WORKED 10
their full capacity.
David Dudley Field in opposition 70 the motion, read
several afhdavs. The first one was 10y L. Russell @afc
in which ne says that Mr. KItrIand, conference with
him. expressed Is willingness that In any arrhn:cin,ht
which should be made, the New-Sork Company should
have a preference tha Metropolitan Company, tud
at one time wac wiling that n should ee 10 per cent
An affidavit bv W T. Conner the statement 10 MT
Kueelauds affidavit that he informed him that the Met
ropoltan Company would be ezra kcd that hc advised
Knceand 10 sell out and that he would tell HIN whcn 10
invest in Manhattan IL false lie also charges that the
present Is brought 10 deprc,s Manhattan stock, IN
order that Mr. Kncclaud may rrpurchasc H. having sofa
a large block a short time ago at an advantage
After argument the aitdayits Judge B!atchIoIu
took the papers and reserved his decision.