New-York tribune., 1886-02-24
VOL. XIV NO I4,346.
THE GREAT BROADWAY GRAB
VARIOUS RAMIFICATIONS OF JACOB SHARP'S
ENTERPRISE.
SECRETARY WHITNEY SAID NOT TO BE INTERESTED
IN THE PHILADELPHIA sYSDICATE-wILL

THE CHARTER BE ANSULLED!
The entire atmosphere OF the Broadway investigation
is in violent state of agitation The matter has It's
legal phases t political aspect, its railroad COM
nicatons and its news features TO say nothing OF s
divisions Adermanic financial theoretical ard correc
,vo Chore are theories abroad that the nv estgaion
uas started in the interest of the Philadelphia syndl
oa,a that the ants against the Broadway road came
from the same source and that that the sale OF the
broadway stock has been pre- yided for the ognatofs
of the turmoil ould gladly call OIL their dogs other
theories point to serious cause haney, gun'
somewhere "a the agent which has produceo on pun
lie opniou demand for the Investigation As or 'ne
railroad bases of the subject The Times" came ont
Yesterday with twOcoumn article hall OF IL dOuDie
loaded setting forth the history OF the Union Passe
ger Transfer and Railway Company (which Is calied
the Onion Construction Company and OF its successor
the Metropolitan Surface Railroad Company-all the
facts regarding which we're published In The tribune
on December - and February Sand presenting this
all a. news it deduced the theory that Cabinet
officer the president of the Adams Express Company
and the Philadelphia people the villains OF the plot
Lawson n Fuller " the father of cables" SAID OF
the fac (outside of the theores in the matter WY
didn't The Times 4" take the pains to hunt up lhE
TRIBUNE files months old and see that IL is RETAIL
ing ancient hstoryi OF course the Philadelphia peo-
pie and William c. Whitney tried to get the Broadway
road when they formed the Union Company, and then
came out as the Metropolitan Surface road They got
left by Jacob Sharp and have been sore ever sincc'
Didn't show that up i'll my lecturer
Daniel d. Conoyer who owns the Forty-second
street and the Houston. West Street and Pavonia
Ferry Railroad companies, is the vicepresdent OF toe
Metropolitsn Railroad Company and director in
the Thirysecond and Thirty third Streets the Cham-
hers Street aud the Fulton Wsll and Cortandt Street
Ferries Railroad Companies is as good authority as
can he found in this city the ns and outs OF rail-
road matters. His views are particularly interesting
at tins time, because he has measured SWORDS WIN
Jacob Sharp has been lifelong friend OF James W.
Foshay and " has the ear of John Keenan,. Mr. Con
over is fne-lookng man. gentleman OF the old
school, has a handsome head of snow-whlte har. an
eoually white full beard and mustache and face
which is the picture of health He was seated In his
room at the Park Avenue Hotel last evening when
TRIBUNE reporter called OIL hm. Mr. COnover turned
first to morning paper lying chair and said with
an air of contempt strong enough to sartle a man:
Pm good hater. There's copy OF Inc llnes
il is the first and only copy OF it I've read since the
sheet became a Mugwump. l useo TO read that aud
The Post : but Pve cut them both OF. The TRIBUNE
is nv paper now. Pvt read that and Inc llines
ever since they were founded But no more Times
for me- bought it to-day to read that article on the
Broadway investigation. was told that The Times
said the Fortysecond Street road had been leased TO
the METROPOLITAN there's not word Of truth Ill It,
MR. WHITNEY NOT INTERESTED.
MIR Couover paused moment to stroke his beard
and then went on: - used TO Toe ill politics. gave
that up because people would say OF any new move
That's one of Conover's Jobs SO went TO railroad
ING and lind am still pursued. But not by the pub
lic-it's by men who want railroads OF their own.
When began Iaroading, made mp my mind would
to not hide behind another mans name. l nave tho
Forty-second Street bought the PavonIa Ferry TO
cut oa opposition in FortyseoOnd-st am vcepresi-
dent of the Metropolitan by the by, don't cal III the
Metrop otan Surface that's year old ITS only the
Metropolitan uow-and am director III the Cham
bers Street. the Thrty-second Street and the Wall
Street Companies"
=. Are those Others all leased to the Metropolitan =
No Neither the Forty-second Street nor the
Wall Street. The Pavonia and tue Chambers Street
roads have been leased to it, don't think they'll get
the TbiIty-second Street; may though
"Ano what is the purpose of the Metropolitan =
TO introduce a system of ira nsfers in this city"
You are then in this scheme with the Philadelphia
ulen. Messrs Kenble Wideuer and ElkiHs =
{" am certainly"
Thomas f. Ryan is one of four directors. is he
mott"
He is and we've just II ade him treasurer.
lis there auv truth in the statement that lie or
Henry Thompson, the president "f the Metropoh'au'
represents Mr.. Whitney ~
Not in the least So far a. | know" replied Mr.
Conoyer promptly adding quickly: If he Is or if Mr.
Whitney has any interest there all they have kept
wholly from me and my relations with them are Ger
tainly confidential No am as positive as can be
that neither of them represents Mr. Whitney and that
he has no interest in the company Mr. Whitney over
wear ago was interested in railroads in this CITY, but
be is not don't think he has been since year
ago last December
Did not Mr. Whitaey have an interest in the Broad
way Cable Railroad and try to consolidate bis interests
with Mr. Sharpsp
:" ] believe he did,
"WhO else were with him ~
james j. Belden was one. They got control of
majority of the Broadway stock and Mr. Sharp agreed
TO combine forces with them aud let them INTO the
Broadway Surface road
How came that to fall through ~
Well the story il an interesting one. Let me 20
back a little. Did you know that Thurlow Weed
owned 900 shares of the Broadway and Seventh
AvenOe stock lie did. He bought 1t at % some
where along there lie sold 800 shares in 1879 for 81
Not long before the Surface road built the stock
was selling at par and finally got TO l40; but as
a. tire Surface Company laid its tracks, leased the
Seventh Avenue line, the laters stock began going
MP like kite-up. up. up, TO 2S5 What bonanza
The capital stock was So 100 600 and that rise
So O00 600 enough 10 cover jail the mortgages
both roads, 1t made Sharp's eyes open in delight
Well when the Philadelphia people and Mr. Whitney
called him TO deliver the stock Mr. Sharp said to
himself; Oh, this is too good thing TO give |
away and he kept it. That naturally made them
mad
"And, then do you think tnat these suits against
the road have been inshgated from that source 7"
g" Well you couldn't blame a for slapping |
another who had used him in that way, could you" |
was the cautious answer. Then Mr. Conover added: |
"I have a higher opinion of Mr.. Whitney than to think
be would have hand in any such business. No, |
believe he retired from the railroad business said
IIa laa, n