New-York tribune., 1889-10-30
REvAMPING AN OLD BOND STORY.
WHAT THE MANHATTAN HAS AND HAS NOT
DONE-JAY GOULD STILL RETICENT.

DONE-JAY GOULD STILL RET1CENT.
The return of Jay Could from his Western trip has
given new opportunity for sensational writing Dy
NEWSPAPERS which can command support on no other
ground. long yarn was printed yesterday repecuhs
Mr. Coud's plans about the Manhattan Elevated
v tcn which contained some facts that were ancient
and many nctons which were more or less new IL
included in the supposOus schemes OF Mr.. Gould the
we'll l-threshed theory Of amalgamation between the
Manhattan and the Ncw-York City and Northern
and the NewYork and New England railroads This
part of the story excited derson in Wall Street and
failed TO serve its obvious purpose. Mr.. Gould ex-
cuscd himself, through his son Edwin, from an inter
view on the ground of being busy. Edwin Gould
looked through the copy of the printed story which
was handed to him and smllingly remarked:
"A great deal has been made out of very little"
Then he added with a twinkle in his eye Il" You can
emphatcaly deny that all the elevated roads are
10 be rebuilt from the Battery TO Harlem"
With respect to the assertion that S2O,OoooOo Man
haitian per cent bonds had been negotiated, young
Mr. Gould said: The matter has not yet come
before the directors"
The only foundation for the story as published
lies in the wellknOwn fact that the Manhattan
company IS constantly working for the enlargement
Of its terminal and station facilities and for better
handling Of the business which IS constantly ncreas
ing on its lines. This policy was decided upon long
ago and the substitution Of scrip for cash dividends
made for the purpose OF aNslsuhs the Com'.n ,i
plated improvements In March last tne eAJGH, iTtG
committee recommended the creation ol coiSoiud.sI ~
4 per cent mortgage with which to redeem me scrip
issued for dividends. to meet claims for damages 10
future extensions and improvements
Tho fact duly noted at the time ana the Oo1uS
will probably be approved by the directors ana
,ssno1 in pr6per season The total amount is I'M
determined for the simple reason mat the , company COMPANY
to itself its right of way and It's possible obligations
TO property Ihe cqlpdhi ipie adding 10 its
cqulpmcnt and in other multiplying lS facnluleS
for enargng its traffic and enabling II 70 DC hanuled
with greater satisfaction to the travelling puoN'
MANY COMMITTEES. But ONLY ONE PLAN.
In spite Of the opposition excited by The publi-
cation Of the companys plan for the reorganization
Of the Missouri Kansas and Texas Halfway no other
plan has been presented. The Iollns party, whose
Interests are not fully understood. gave notice yes
,er,lav that its plan would be issued as soon as 1t
cap,o from, tbe printers but inquiry at the office
of y g UoIns d Co.. II was learned mat II might
no several davs before the printers would hnsh their
worl, The delay may not bo wholly ypoSfaphicaL
rho committee OF the first sevens,' who object
to a reduction in interest TO per ccnt' met al tio
Union TrusC Company Pleslden' Ming "ho Is
ohaIrn,an Of the committee. said afterward that
I 80 REORGANIZATION was being considered, but
No. Nor ro,1y for publication. " You can say" ho
remarked that plan is under disctsSoh' Dio
,rtu # + completed It is only under consideration"
prostlent Oicott. Of the Central Trust Company,
nrepalcd a reply to the cohpaiut Vi u'0 I''' So'
,,or ,hov were not treated fairly and questions
''" 'n I ,,oss of the proposed reorganization may
S s"ted by a pcr,al OF the reply IN uo advertising
columns oms o. ms Committee which has been aroused
o. lHg zee 1n he last few days, issued circular TO
ldnrs @ Of The general mortgage bonds; IN WnGn M; II
an Independent plan At the close OF OnGIt now W.
c~cr % he proposal OF the eNeeu,lte eon'"''ee VI
Gync' yhc ,company was the only plan eNVahI
....,,,c rpON THE NEW YORK CENTRAL
foh DN,-, I-nted states through DistrlctAttorncy
,r hocan suit yesterday In the United States
' crt against the New-York Central and
T,,1or piver Railroad Company, TO recover damages
~ 49,, ,ho maintenance OF a bridge the Moodna
d., f,rmerlv known Murderers Creek, near
rar,,rau The bridge IS used by the West Shore
r.urood which Is leased BY the New.York Central.
The complaint in the suit says that the Moodna River
Nv ,.,.i,,ble stream, and that Congress appropriated
- IE, - 80 improve the river The Secretary OF War
w ,uar, - informed the railroad companies that
on on Hrd1e was obstruction TO navigation aud
directed that 90 Ths h,r W oe a soS ~
80 oS ~ ~ nor altered, and the Government demands
e rcreet 10 comply with the order of the secretary
OF War.
ro COMPEL PAYMENT FOR A BRANCH LINE.
The Denver and Rio Grande Railway Company
ho.,, sult yesterday in the United States Circuit
C.,+ against The Unod states Trust COMPANY. which
v tbe trustee under a Si2, 10000 mortgage issued
bv the railroad company IN 1886. The trust com
nam, was authorized TO certify 10 tho issue OF bonds
IN the amount Of s0143,OOO under tho mortgage, TOR
te construction OF branches. and bonds for Si11i-
600 were issued. Two branches, one four and ahait
mile, long and the other two aud ahaf miles long,
Wcie constructed, and the trust company eius'u o
allow the issue OF Sl3GOOO bonds 10 cover he cost
OF construction the ground that under the mossgo
Is money was DO used only for branshss not isss