New-York tribune., 1886-02-14

,V William
contract between the two companies and authorizing
=, goo 600 bonds on real estate in Sixth-aye,
, F,sath and Fifty. first sts. where the Seventh
,n,s roads depot Isl, the bonds to run for thirty
years ,. , drorr, bv
' ~ Us there resolution OF the board authorizing
te guarantee OF bonds Of the SURFACE ROAD
"M M Foshay handed over the minutes, which on sep
topber g 1889 showed that at irregular meeuug Oh tno
directors the ratification had been mlde. Ine iu'o'
og Atov "a 1sgt at meeting which Mr.. Hays ala nOt
attend show ed that the president had mHoe al "Kr
ment with the Surface company for the oS'ensioo
nur,ose NJ the protection OF the Seventh Avenue
Connanv's interests The agreement was SUD
mtted. Mr. Seward put Ia evidence d 'o''er
of President Richmond to the state h"l'
road commissioners December 13 last Ill answer 10
an INQUIRY relative to the why tho surface COM
pany was not running its Mr. Richmond had stated
that there had been lease OF the surface roa ou'
that contract had been made between the companies
THE GUARANTEE OF THE BONDS.
Mr. Seward read the minutes Of September 10, 1889
in which the directors or the SeYenth Avenue Coh-
pany ratified the guarantee OF the BONDS ana
authorized the contract with the Surface Company lin
itiug the number of cars 1t was to run to five.
O.-Nls that limit OF five cars the consideration TOR
which your company guaranteed the secohd piOrtSaVe
Q-Are the coupons, so far as on know in the pos
session banks AT which they were paidf A
6"%%s the mortgage OF 100000 the Seventh
Avenue Company's properly actually executed ao1 A
= at Mr. Scribner's unice Tue oOn"s were prepared
in july, 1851. Mr.. ScriDner prepared the iorn. dr
I-own, ltnO-r.pner, printed the ooh IS sGe,s hg
sent hem 10 Mr. -crDnrr'- Oiic', where got thtn
them To my ohee' si'ncl ana seiled tnPih thn M
they sent To the ONCE ot lhOmas d. her tuo
treasurer lie signed them anu thoy were leI' IL"
q Then What was done with them A-They were
Q,-Iow long were they in Mr.. Kerr'' safel A
% ~ To whom were they soldl A.-some went to
GcNlg, H. Ptrntlss * Co., brokers. who sold them.
Q-EIsve you any recollection Of any ones coming TO
yor oicp OF the company, 10 OOh ~ int resp
luton authorizing the issue or the Dohd' ANV, s,
Q-NHO purchased the bonds A-;l'; -; ". W wT.J; '
m How much money did YOU getl A.-S5OO 900;
utic and no l.ss We tried to borrow money on the
G"nds bur could not 81 that soli them b. giving
ench purchaser lftcen OF the first mortgage bonds as
bonus.
Mr. Foshay declared that he had acted under lesa
advice in the transactions I've should have been
rurncd." he sad, "lf auy other road had run down
Broadway"
Mr. seward found in the journal OF the company the
entry ot .J7 G33 - IalI to Mr. sharp which, with the
deduction ot - GJJ 81 paid sidiugs and turouts
lett S.JoUOo pad Mr. sharp for the horses and hdI
c.sc. which ne had pIrch t,ed of the stage ines An
cntrn OF e.5.oOO was Tor cars "to be purchased"
Q-DdM. ,utrp snow yOn any agreement with Mr.
pl'.ual Tor tar ctr-i A.-No
Odd yod ever hear of hl' agreement Al hearu
tnti he nau piil 80 bonds ior the cars;
O-Nhat sad your al been n br htbl OF paying Ior
caf,i Atom elO-J 10 7L2po; Dut the Pullman 'arS
we're extra cT-. ,,...
Q.-I nrd entry OF $4,000 PAID 70 Ncuhner Br7ht
ior cSd SCI l't' = 'i'i' ''''', ,,,,
Q-NAcu you uinic lLr pt! u"lt an you AIO" th1V
Nj sharp uad agreed 70 pay ocron'r Bn5ht ne'e e1-
Can Won -lpt'u hog M s7G 900 came to be pad
A.,lr-. sir Mr. -crpner -'ii De- would nor undertake
To 30 anynnt for tue u FACE Jonp"nJ uro ,HG S9' G
chtn A,ruu Company would become 'espon'lO'e Tor
tie .r-a. '"rv''e-. .,. o.. ,,, -, o,ot A,
,E -H,'' loi any E"t.m', , M, m uJ ot. JI,,lcrnr,y
ana a-,cd Nr sharp. VINO was present To pay tue Dn
I.,.,I II and rclmDui sd ann.
Q.-Na- SIR Bliss retained O{ t"e hro"'"H ana sew
en-" A''n'T 10 Act m the matter OF obtain
iu tie courcut OF propcrty ypnrrs ami ia" franch'e
Q-Ncro Alexander q "ltrn r'IalH'I 10 p.oguao p,
ih' consent, a." II ~" ~. "
a. saV. llt Fo-nay vii. ,ou explain to the commit
tee uoH. under tuc-r resolutions lhe sue Oh
bonus @ ,'I W S' m ,, .i I.,, money or tlo,s e1.
r.,i-r, Al viii compet.us linz wordhAye ruined
Inc rold amt horz-i % fu-6e tho rNpcnd iures
r,,'.''. - 10 o.. incurred
y-NL,t we're the average rccci ps u -our company
b,',rc 10 formed 10, connection WITH tuc ~urfIce Com
tauyf
A., y,.,,v recrrl 10 paper he carrie iu his pocket
'''' "'''' '' . , - t.,
when Chairman Lo" "NPr''7el" " "' ire 70 Nno" "u'u
.r,.........- o.. :. ,,p Ap,u-t u l,-ir
b'-'' i"' '"' -
A. ",y rel moi I'M, money unt Ju 10 3d. 1885
A.NI,, >lr. .,,, ..
In WIN '''"' "'' ~ ~
, r,r moan 10 say that money WAS locked up all
tnt time yod and yOu got no interest on II Al
d" ,.... ,.....,,,, r.c,,s, tns Mat
r ,,,, u.is hal fti..i and tnius, wcrr snaky eeu-
c.Iy: thr treasurer Ir Kerr. though; 10 better 10
retain tIr money """ .o' u.t,..
IH', ,o,. i, ,g .,,n n might be fore We would
,,.,,u 10 ,t.. A.
a. a., Il.y A.lgi,t au! september, l-~l, Gd not
H ,..,.'.,.,,, -, ,i,ro,ii, nm Inc broadway aud Pa
,',' ,.u..t -N... Sir
10 'W,ra ,ild yonr company 20 into practical opera
t.t. ,,fn tlt, ~Ir,,cc tuu,pAny Am Juuu, 1850
-, -, ,,,,nt ,uf that the o,y.nth
MI seward next Io'"u o"' '"'' 'uo 'o'ou'"
\yculc Company uld earned some S4-1OOO Tor
..t....... -, l-.4 Mr. F,.bay urDdured a paper
a many '"' j" - - -,
showing The ncr. aae ol the S'NeH'H Avenue OohlAi'
receipts for nine days 10 JuLt l@c'' over the same
,.,,I t,r looi As 900; for Auru,t the increase
,.,, , .,.,.,,.,..r .;o .uo f,r octnher
WAS FI9'ooV' I'l S'I"i"''', ''-' " ~, ,,,'
$4,000 the receipts l"i Ntt'OtI lN0f UcihG SoI"Vo
,,u far ,,,,r I.ej sl2j. 900 HE average monthly
-, ,,., ,..,, .,,,,,t S,;n onn IA. .atd
i'''"'' w. '''''l'' '' .