New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-11-16
MR.. LANE DOES NOT Want TO SELL OUT.
HE SAYS THIRD AVENUE RAILROAD STOCK IS ALL
RIGHT-soME REMARKS on HENRY HART.

1
| RIGHr-soME REMARKS on HENRY HART.
Director Maltby @. Lane. Of the Third Avenue
| railroad Company, returned yesterday from WASH
ngton where he has been for time looking after
MS railroad interests there When asked the state
inent made by Vice President Hart about his wanting
70 unload his Zoo or 300 shares OF stock In The
| company true, he said:
"No, it Is not true, any more than some OF the
other things Mr.. Hart said about me. am not try
ing to sell out. The road il good property as every
one knows But 1t has not been managed properly
MI Hart IL not manager and never was II Is hot
In him. His remark at the meeting about not putting
mo on the Board OF Directors was entirely uncaleu
for. One would suppose that be owned the road
when matter Of fact. he docs not own one thru
OF the stock. Neither does he run the Boah OF
Directors, he Will find out in due time. He said
mat Mr. Miller my representative at the meeuns
That Is not true Mr.. Miller and have no moie III
common than any other two men in the company
He found out by personal investigation, what every
patron of the road knows that the are in bad
condition. He said ony the truth"
There IL some dissatisfaction among the stock
holders, then ?" MI Lane was asked
"Yes, there is, and it is not to be wondered at.
They did not mind losing their dividends last spring.
1t seemed necessary Neither did they murmur at the
failure to pay any in August But when it came to
passing another in November-weu, naturally theie
Is good deal Of fault finding"
In regard to the proposed substitution OF cable
TO- horses tie limo. Mr. Lane said. that while he
believed that the day for horse railroads in New-fork
bad gone by, yet he did not think the cable system
the best 81 favor electricity" he added THAT
IN my judgment, Is the true solution Of the pr0biem
IL * better in almost every respect, and an eleStc
plant costs far for cable system nat
motor which Is beng tried in Eighth ave Dids 1alr
70 prove There is no reason why IL shoun
not. so far I We intend doing away WIN
horses roads in Washington Notwithstanding the
fact that have no elevated lines to compete WIN
there and never will have, the Government VIII
not allow them 10 be built. No am not hunting
Tor buyer for my stock IL IA worth $3.50 snare
to-day, though ii has drawn no dividend since feb-
ruary. 1t not my intention TO part with IT, unless
The company undo rtakes to manage things IN a way
that doesn't SUIT me. have no fear of that. how
ever, the directors all to pm togeher all
right, and 7 am certain that everything VIII come
out ght yet. thourh next meeting on the second
Monday IN December may be lively one. one thing
i certan; Mr.. Hart viii not run things all his own
way He left me or the list Of directors once, Dut
ne did so TO his sorrow. and don't think he VIII
ever try 10 repeat the operation There Is no reason
why the should not be kept In good condition
or why the public should not be friendly toward
rs az any other pubr corporation have not the
slightest desire TO quarrel with Mr.. Hart as have
known him all my lie but he has said things about
me in the newspaIe rs and in public which ! think
he had no reason for and do not hesitate 70
tell him So any else"