New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-11-24
CYRUS W. FIELDS MOTIVES,
WHY he ENTERED INTO THE AGREEMENT
FURTHER INTERESTING EVIDENCE IN THE ELI
yATED RAILWAY SUIT.

FURTHER INTERESTING EVIDENCE IN THE ELKZ
Waited RAILWAY SUIT.
| The examination of Cyrus w. Field in the
SUIT OF the Metropolitan against the Manhattan and New
York Elevated Railroad Companies was finished yester
day before Judge Van Bmt In reply TO the question:
OF james o. Garter Mr. Field said: a." did not know thai
the Loan and Improvement Company had become largely
interested In the Manhattan Company until after thu
agreement was made Upon learning that prior to tina
agreement the whole block of s65ooo00 of Manhattan
stock had been transferred TO the and Improvement
Company, I was indignant. thought that the roads
could be worked Independently"
Mr. Carter-To what cause do you ASSIGN the break
down of the Metropolitan in 1881
Mr. Fied-To the building of the Second Ayenue lima
and the failure to obtain the expected patronage Tina
Sixth Avenue line was at a less above Fftyuinhst
The running expenses were larger than anticipated the
taxes heavier and the profits less
Mr.. Carter-would you care to purchase the Second
Avenue line nowi
Mr. Field-I would not take it as gift and pay It's obi
cations.
Mr. Carter-Did you ever do anything depress Man.
haitian stocki
Mr.. Field OBSERVATION-DISCLOSURES.
Mr. Carter-Did you ever do anything to depress tho
stock Of any Of the companies
Mr. CarterWhat was your motive for entering into the
agreement Of October, 1881
Mr. Field-I took great pride in making rapid transit
success In New York. and desired to save the stock OF
the company
Mr. Carter-Did you ever take part in any conspiracy
TO njme the Metropolitan Company
Mr.. Field decidedy)-No No such conspiracy ever
eSsod never was party to spyth,ng Of the kind
state 1t was enough to make any mans brain whrl 20
endeavOr to straghten them out The terms Of the 0cto
Der agreement the best possible they were very
Just TO the New-York Company and very favorable
by the settlement; the Metropolitan gained the most.
believe that the agreement saved the company nom
absolute ruin without Il the company would not have
been worth a cent. No Metropolitan director betrayed
his trust In the matter There were many conference
meetings. The best possible terms were obtained from
M Mr. CaTter"Whst purchases of Manhattan stock did
Mr. Field-I bought 1000 shares
MrCarter-Dd You propose and assent to the tripare
Mr. FiedI assented, but did not propose it. AL the
M CafterNWere you mised by MrwillIam r. Garrison
in Any other respect than regarding the cost of the Metro
Mr Field-Yes. The business was less than est-
mated. He argued with me hour by hour.
Mr. Carter read the minutes OF the meeting OF the COM
mtee relating TO the agreement on October "a 1881,
aud then asked If before the agreement made tho
question Of the need Of ratification of IL by the stock
Mr. Fied-My only recollection is from the minutes.
have have suggested it know nothing about who took
the action. i only know that we were advised BY
not understand that obstacle to the agreement
inability to get the consent OF the Metropolitan stock
MT Carter-Did you have any knowledge OF judge
Comstocks opinion until October 24f
fte0-l
Bacon went 10 Syracuse and teegraphed Judge Com
stocks decision back.
Judge Van Brunt-I read in the minutes that letter
from syracuse containing Judge Comstocks decision
dated October o. he date OF the agreement October
| 22D
that Judge Comstock In this city all the time and
gave verbal opinion, and then went to Syracuse and
| wrote It out
mart of the morning session taken up by the
examination OF tie witness by David Dudley Fdd, At
fer recess Mr. Field questioned relative TO his using
| his Influence 10 depress Manhattan stock
Mr. Field-I do not remember that did. II was worth
nothing separate from the NewYok Company. talked
this Whether this talk depressed the stock or not would
depend upon whether somebody else believed what
| said or believed somebody else.
Mr. Carter-Dd you not try to establish ny might and
| main that the Manhattan Company was insolyenti
| Mr. Fleld--I expressed such views.
| Ex-AuOrney-Ge Ward took the stand. General
Barlow examined him. He gave the history OF his rea-
tions receyeFship proceedings Nothing new was
/ developed, but when General Barlow asked General
Ward II he met any connected with Jay Gould or
| Washington f. COnnOr when he visited New-York on
fills matter, General Ward became excited, and said
az don't know the purpose OF this examination, whether
| II Is 10 insult me publicly or what"
! David Dudley Field (rfsng quiclly)-No, no, mol
Don't speak. viii you allow me- please The Court VIII
protect the witness against improper CONDUCT would
say, improper questions.
Mr. Ward-I desire say, General Barlow, that have
no recollection OF seeing Mr. Washington T. Common or
Mr., Jaw GOuld when made the visit To NeW-l0fB
| The case adjourned until Tuesday next