New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-08-31
LAMONT THE ONLY BIDDER
HE BUYS THE BROADWAY SURFACE ROAD
THE PRICE WAS eos ooo-MoRTGAGEs AND obi
CATIONS ASSUMED - is TEE ROAD NJ"
OWNED BY THE PHILADELPHIA
SYNDICATE7"

The Broadway Surface Railroad was sold at auction
nj the Real Estate Exchange yesterday. The buyer
Daniel S Lamont and the price paid was S2o'Voo'
There were not more than half hundred people De-
fore the stand of Brown & Levness, the auctonees'
when tho sale opened. If any one had expected
keen competition, he had only to notice the generai
air of Indifference I'm the crowd to see that the sale was
a foregone conclusion The majority Of the eyes
were turned toward a rather short man, with ceaniy
Trimmed mustache and mobile face who STOOD III
rcctIy before the stand, by the side of Ehu Root MS
counsel Dan lamont said man, viii buy
II. That looks like the Philadelphia syndicate"
No one surprised, therefore. when at the nrs'
.an for bid Mr.. Lamont said with what seemed Ike
little nervousness: :" S25 O0O7 No other BID was
made. Apparently no one expected another Inc
operation of selling Jacob Sharps pct enterprise tooA
hardly more than three minutes. When the oner was
made one Of the onlookers remarked in lisleSs way
that there would be more bids. moment laocr'
when the road had been knocked down, he aoued
And l think $500 would have taken IT, Perhaps IL
would have been dear at that"
For Mr. Lamont proved disappointment 10
reporters. He smiling ever, but on the SUD
feet of the Broadway road he was sphinx was 1t
bought for the Philadelphia syndicate" he was ashe
"Oh. / bought it, he answered. Then he added
= 1t was not bought for a company, but for indlVn
uals. The individuals? Really. am sorry that
cannot help YOU
IIo referred every to the buyer As for possible
change in management, ETC., nothing could be learned
Mr. Root said. however, when asked what had Deeh
bought: Why, tho obligation to run five cars out
TO assume the roads indebtedness as well as to pay
the city D per cent of the earnings"
Thomas II. Mclean, one Of the trustees
of The road, unwilling to say any
thing for publication. lie thought Mr.. Lamont was
the proner person TO give out information upon
the subject. Why the trustees were ordered TO sell
the road h, was not at liberty 10 say. When told
what Mr.. Root had said about the five cars and the
obligations he replied, with a laugh, That's II in
nutshell Mr. Lamont has secured all the rights
enioved by the road and has assumed all It's oohgs
hons7
first mortgage for 81 900 secures the bonds
~ tho companv as well as a second mortgage 20 the
amount of 81 100000. All agreements maze WIFI
the scvcntha ave. and the Twentythrdst roads as re-
cards traffic and of tracks and those with the
rty and the conditions and restrictions contained III
the order Of the General Term Of the supreme court
which were agreed by the company, remain IN iun
force.
Tho broadway Surface Railroad Company was dis
solved on May A, 1886, by an &C. Of the legislature
and trustees appointed. subsequently IL was
nut i'm the control OF John O'Brlen as receiver Last
fall however, It again restored 10 me hahus VI
the trustees: William Bird, Thomas H. Mclean
John H. Pentz and John VI. Selmes. The Corporation
Counsel decided that the read must be sold Tor 'he
benefit Of stockholders and creditors. but that thef9
sho,ld he no change IN the traffic agreements Win
other lines Corporation Counsel Clark wheD seer!
bv the reporter I'm regard TO possible modincaohs Vi
The charter. changes in agreements wild Ino c'S ar
ne effect lIpOn the of taxation sad lhaI ne va
not prepared 10 express opinion upon inc H XII
untn he had given il some consideration anu H".
looked the charter. ms "ouiu 'a't sunni '"'
and be could not spare ~ time al present. 49,. ~
Tho terms Of the sale were tha 10 per CEN VI
he prcha-e money should be paid down the naanS
10 10 raid al the office of Alexander Green 40 ~
,f..f.a In
ior tho 10 per cent Immediately after the SAFE. lie
took the afternoon train for Bar laibor; .n,.., 80
Although no one I'm the Exchange felt WliIhE 10
declare that he knew who the purchasers of the Toaa
we're it was generally known that cxsecrcaly VIII
sinrerlv william II. Kcmblc and p. A. b. Nidener
had come 10 this city from philadelphia Win ME-
Tamonf and had been in consultation with broauWdE
Railroad officials on Thursday. some of these WcIf
present at the sale. 1t seemed to be me general ,I
belief that some all of them were interested IN fe
purrbase, and straw vote no doubt wouid nave
decided in favor of the Philadelphia syndicate"