New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-02-19
THE CONTROL OF BROADWAY.
TEN THOUSAND SHARES OF STOCK SOLD.

PLANS OF THE METROPOLITAN CoMPANY-A sYs-
TEN OF TRANSFERS. TO BE INTRODUCED,
Jacob Sharp, James w. Foshay, William IL.
Hays. George Law. George " Curtis Alfred Wagstah s.
Sidney smith and Henry Moore have signed an agree
ment sell to W. L. Ekns, Peter wideRer and william
H. Kemble of Philadelphia, 10000 shares OF the broau-
way and seventh Avenue Railroad Companys stocK'
The agreement made In the early part OF ths month
and the transfer stock has been going on since that
time The STOCK sold at 3OO the market price Is
P64 although it was 285 just before the rockingham
suit brought. The 10000 shares, together with
those already under the control OF Messrs Ekns WIDE
and Kemble give them majority OF the Zl'ooo
shares OF the capital stock OF the company,
and therefore a controlling interest In the Broadway
and Seventh Avenue Railroad Company. The persons
selling all directors In the company, although they
Sell as individuals The persons purchasing are all cor
porators and directors of the Metropolitan Surface Rail
road Company although they too buy the stock as liz
dividuals.
The history Of the Metropolitan Company given
in THE TRIBUNE February g. This corporation was
the successor ohe Union Passenger Transfer and Rail-
road Company and its corpOraors were Henry Thomp-
son, Messrs. Ekins, Widener and Kemble Thomas i.
Ryan pronounced in aidavits in the Rockingham suit
as interested In that itigaon) Gerald FtzgDbon. Gill
bert NJ Speir, jr James Moran Edward Sellck Edward
J. Matthews, John G. Lee. Richard f. Brewer John S
Foster and Daniel d. Conover Some OF these are County
Democracy men; Mr. Conovcr is the head and front OF
the FortysecOnd Street road The capital or the COM
pany SlO,0OOOOO; the president Mr. thompson ana
proposed Originally to gridiron" the Whole city and
Introduce system OF transfers. The plan was then 10
utilize Broad way and two of Jacob sharps friends
among the corpofators. But when Mr.. sharp his
franchise he dec med to in" with the Philadelphia
people alleging that they could not fulfil their part OF
The contract (which TO turn the cable company
10 him and his friends So the Metropolitan was orga-
niZed tits supposed that this company now having
secured the control of Broadway will carry out its
e.ed in road in Wast o which Surveyor Bsatto
secretary, In the Chambers street ROAD
T Mos Sa Mr. street. SSa'S and fsvSna rSaG On
which County Democracy are Interested and In the
nus interests, with Broadway axal line Will be
ultimately united TO form complete transfer system.
the the Broadway Surface ana the
ence When it was brought it charged by the Broad
way and seventh Avenue Company that was really IN
the interest OF the Philadelphia people Mr. Frothingham
reassered yesterday that the sn was brought in good
faith and he knew OF no one Gi ns Ss
Widener and Kembe. Tue Frothingham suit VIII remain
as II is pending the Senate Investigation -
Osborne E. Bright. of Robinson scribner Bright the
attorneys of the Broadway and Seventh Avenue road,
sas o. f6e STOCK ana the rockingham suit He replied
that far he knew Mr. Frothngham had no part or
Interest In the purchase of the stock.
Well Mr. Bright In view OF the purchase oeo m s,l oy
their part In the validity OF the charter T. was asked.
my dear sir" Mr. Bright responded hrmy, That
charter and the principal contracts will last Till the day
Judgment and perhaps longer for by their terms they
are to run ZOO years"
"As 1t understood that Messrs Ekins, Wdener and
Eemble interested in the rockingham suit 1t Is
supposed that that litigation will now pass from sight,
said one who has watched the struggle ION
the ground the Phil dephia people viii not care 10
have suit pressed which now comes directly against
themselves as controlling interest in the Broadway
and seventh Avenue Company. Furthermore litigation,
while may bear stock supposed to nave contrary
Effect when once withdrawn"
Mr. Conover said last evening: al think 1t
will be a good thing for the city that the con-
troll Broadway and Seventh Avenue Company thus
goes to Metropolitan Company The Metropolitan,
By of the stock will be enabled to put into
eect the transfer system which 1t has all along con
kemplaed With the crOss-town lines which IL already
Possesses and the Broadw line as the main road we
khall soon bave a system like that in Philadelphia. l
really think though, that the company should have an
extra cent transfer have doubt the public
will be satisfied. Why. the other day rode all over
Phllade phia afternoons business, and all cost
me nineteen cents That was because OF the trans
fer sytem. You be sure the Metropolitan road Will
carry out its plans" ~
senator Henry r Low in town yesterday. He
sad that the Broadway Investigation would be resumed
IN this city tomorrow already arranged sDd on Tues
Gay next that afterward II arrangements could be
made for Messrs Conkng and Seward. the sessions
held in Albany, that the Railroad Committee
Could attend "a their double duties.
ALBANY, Feb. Is (Specdl-AttOrney- General D Brlen
said TO night that the sale OF the stock OF the Broadway
Railroad Company a Philadelphia syndicate would
hot lessen the Legislatures power revoke the charter
of that road. The members OF the Legislative Commit
tee now Investigating the road expressed the opinion
that the transfer ownership OF the road 10 persons
iiyinz outside OF this State would not prevent further
Investigation OF the methods by which the road obaine
charter.