New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-03-01
SELLING A LITTLE RAILROAD.

HENRY HARrs SHORT ROUTE BOUGHT BY NIX
LAUTERBACH FOR $27O,OOO
The franchise, personal property, good VIII anu
all OF the south Ferry Railway Company, 'ani''""
called by surface railroad men, Henry nor ~
horse railroad was sold at auction at the heal Hso
rvohan,a in consequence of tho combined efforts Vi
p,ohard " IIarnett. auctioneer, Thomas 1hachei'
referee 10 the foreclosure proceedings anu eA'uu
Granville p. Hawes counsel 10 INC 'cioio0
road runs from Vesey-st, through Chuich anu ''a.o
SIS TO the south Ferry. IL was QUIT ih 1913 i'
outstanding bonds amount to 100000. Inc trustee
,,ndor the mort gage was John L. Evcrit The amount
a, original stock WAS S150,000, the bulk OF 1t heia
nv Henry Hart. The bonds were generally us'ilo-
nted and have fuctuated from par to 90 cehts' iho
interest on the bonds was duly paid until some
eighteen months ago Then came a default anu '"o
resulting sale. ,
The personal property thrown In with INC roau w.
terdav was not an encouraging factor. There were
twenty three horses, more or less spaNihcu' WIN
seven sets of double harness to cover then '"'
six collars and fourteen brides. 1"o e'N''
opcn cars and three eightecn-ioot DoA cade
the rolling stock. Other interesting hoH, -
Ono towel one anvil one large snow pioush' 10
chairs In Office" twenty one centre anu eroo'o =,
ono oil can one looking glass, fifteen cart-ioans Vi
sand twenty bushels of track sait' one eri"uo .
ono pirchfork, two tons of stove COAL tieo '" w
Of a ton of blacksmith coal, 25,OOo drivers o"aie
an,,elonos on, wbeelbarow, "twO sofas In ofco'
a
oil wound I'D with thhty-dve feet OF rubber hose
Auctioneer Harnett faced a large company wnoh
he offered the road for sale at noon Somebody Diu
s1OO OOO and then some else made IL Sl2o,oou
A run was made to 100000 and then IT was dis
covered that there from SIX 10 eight bldders.
The only ones recognized were Edw ard Lauleroacn
and solomon Mehrbach. Everybody wondered Whethor
Mr. Lauterbach wanted the road for Richmond Ter
minal or Reading, the Third Avenue Rallroal,
or the Vsndenburgh Charter, or the Meu1Pomoddts
Transit Company, or the Belt Lne-or Tor himself.
AS for Mr.. Mchrbach, heavy holder OF broadway
and seventh Avenue Railroad securities there was
q surmse that he bidding in that direction SUI,
It Is understood that he does not love the picscs
MANAGEMENT and wanted to buy the ROAD 10 mans
the broadway and seventh Avenue people conhe
down. ip order to get to the ferry hr MehrpNh
kept bidding up 80 S25O,0OO, then ne uroppeu ou,,
while Mr. Iauterbach a dark, thick-sct man ana
tall thin man kept until 900 was reach9u,
when Mr. Lauterbach carried of the prize. i's
most active competitors were dummies OF me oAtn
and Eighth Avenue Railroad Companies, wnch W G,
anxious to get down to the ferry by this nne INC
sale occupied about six minutes ,.u
Everybody anxious to know what Mr. Lau.ers
bach was going TO do with his prize. lie entered
n a. for George W. Viltec. who Is employed In tho
estate lawyers Office. Mr. Lauerbach explained
matters little by saying that he had made the pur-
chase for private persons who would form company
am prepared to sell the road to the Broadway peo
ple or the Sixth Eighth Avenue people," sald ne.
Mr. Lauterbach told his friends that he would not taKc
300 600 for his bargain II IS understood that the
company 70 he organized will put new horses ana
now rolling stock the road possibly use cable
the motor power.