New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-10-15
RAILWAY NEWS.
SETTLING THEIR DIFFERENCES.
PLANS PROPOSED BY THE DIFFERENT ELEvAI

PLANS PROPOSED BY THE DIFFERENT ELEVATED
RNLRoADs-cYRUs W. FIELD QUOTES THE
SCRIPTURES.
An amicable settlement of the differences of
the elevated railroads appears be nearly reached al
trough members Of the conference committees hold
opinions as 10 the precise progress OF the negota
uons meeting OF the committees was held Yesterday
and the plan proposed by Cyrus W. Field president OF the
New-fOrk Company. was discussed and In general ap-
proved This plan which published in substance in
THE TRIBUNE yesterday, provides that all suits pending
tween the several companies be at once Withdrawn;
that all sums due from the Manhattan 10 the NewYork
Company, both for interest bonds and dividends on
stock, be paid and that the interest due the Metro
polItan Company its bonds TO Jly l, be paid The
plan further provides FOR certain changes I'm the present
leases 10 the Manhattan Company the New-Yors Com
pany is 10 receive annual stock dividends 10 the -
per cent, payable quarterly the Metropolitan Cou-
pany stock dividends 10 the extent of per cent II
earned by s own lines, and the Manhattan Company
stock dividends to the extent both payable quar-
terly II IL provided that any surplus earnings, AFTER
these payments have been made sna be divided equally
between the three companies
THIS scheme, which WAS advocated by lIr Field and
the otder members Of the NevY0rk committee was ap-
proved ny the committees, IL is understood FAR tho
Sew-York Company concerned. II aroused consid-
cradle opposition however, among the repro
sentatves OF the Metropolitan, who declared
The approval Of that company. .ubsiiiary
agreement between the Metropolitan and Manhattan
Committees was proposed aiterwari by watch ire dvi
dcnd To- be allowed tde Metropolitan was Increased 20
per cent. and the restriction ia regard 10 tne pawn
dividends to thai company removed. The diyii
TO the Manhlttal Company WIS allowed % remain
per cent and N OF excess OF eamiugs, n
provided thar the surplus should be- divided equally ho
tween the New-York and Metropolitan Companies Rns-
sell sage said Yesterday that the committees hat agreed
to this modification Of the original plan.
Although the committees hal received full T0wers 10
arrange the settlement the approval Of 'hr to KhOers
~ the different companies il necessary. Mctags wI
hr called for early day. Little dOuO Of tIe frsnt
entertained generally, and Mr.. Field said yesterday that
shadow Of doubt, he aud his friends absolutely
tOlled the stock a. Mr.. Gould and Mr Sage are be-
iieve TO hold controlling Interest IN both oi TIE other
companies the approval by the stOcKOldCr. H likely 70
be merely matter Of form The proposed pan Of set
temen has excited little opposition from pfomi-
nent stockholders Of all tc road, some %
vAom declared emphatcally yesterday tina The pro-
position would never be approved. Russell sage
said that the original plan proposed by Mr Field was
certainly not acceptable to the metropolitan Company
and that II wonid not accede to IT, lie expressed the
opinion mat the nnal result would he the consolidation
Of tne three companies In reply To- an alnion 70 hi:
Ofteue KpresSed intention to Int until he had regained
possession Of road, Alr Field replied yesterday: IN
is more blessed to give than TO receive blessed are the
peaceuakers"