New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-02-03
MANHATTAN'S CONQUEST.
CONTROL OF THE SUBURBAN COMPANY.
PRACTICALLY ENDED BY WHICH
THE GOULD LINES WILL EXTEND Be


THE GOULD LINES WILL EXTEND Be
You'd TIE HARLEM RIVER.
II s understood that an agreement has been reached
by which the control OF the Suburban Rapid transit
Company has been placed in the hands OF JAW Goulu
and his associates. The deal may not be an
solutcly completed but II has reached point where
1t is practically assured that the Manhattan Com
pany will virtually the charter, franchises ana
property Of an organization which, when it' pans
for construction carried ont. will cover about
fourteen miles in the country north Of the Harlem
River The acquisition is Of obviously great
advantage TO the existing elevated railroad system
1t was reported in Wall street yesterday that the
Manhattan had purchased the suburb an Rapid Transit.
In the circumstances this IS impossible As the suburban
could not transfer It's rights and franchises as a
corporation organized under the Rapid Transit act.
\ meeting of the directors Of the Manhattan Company
gave rise 20 the rumOrs. but ccFcsdcnt Robert VI
Galloway said that positive action had been taken
with regard to the conquest of the suburban. Mr..
Galloway said that the directors had discussed the
relations between the two companies and the posi-
biites Of "a settlement and adjustment Of affairs. by
which the two systems could be brought into closer
union Nothing done. hut he thought that there
was little doubt that the control Of the Suburban
system would finally pass into the hands Of the friends
Of the Manhattan.
J. Hood Wright, president Of the Suburban denied
that any corporate sale had taken place. hut refused to
discuss TIE question Of what private Transactions might
have been made between stockholders. J. llcrpont
Morgan also declined 10 discuss private matter. -
1t is believed. however. that an understanding has
been reached between the controlling interests in tho
suburban represented by Drcxc Morgan a CO.. and
the Manhattan interests. by which the transfer OF
control is assured. NJ. Gould and his friends have
had large interest in the Suburban. but the ma
jory cOuM not bc obtained without the assent ~
DrcNcl. Morgan a Co.. Wiu-lOw. Lanier d Co. ana
other bankers. Most Of the large Interests have
placed themselves in the hands Of DrcXel, Morgan ~
co.. and the negotiations. which have been pending
for some time. have resulted in practical settlement
with the Manhattan interests Details NAV remain
to be worked out. but the transfer Of control IS de-
cidcd upon.
The suburban Rapid Transit Company was char-
tered on October 10, -7O. and the rOaf was opened
on May l.. l,rG Tn" directors are J. Hood Wiieht'
j. Pcipont Morgan Charlie, Lauer, George Bliss, oi
Morton. Bliss & Co.: Jdy could, CyruN W licld KuN-
sell sage and John H. nan. samuel spencer VINO Is
connected With Drcxcl. Morgan \ Co., was formerly "
director. resigned prior TO hi selection - Com
missioner under the new Rapid Transit law. Inc
vacancy in the Beard has not been Filed There nave
always been close relations wish the elevated '''-'
and there has been general expectation that event
uav the two systems Of rapid transit would be "tue"
together
The suburban rond owns the bridge over the IIar-
to one hundred and sevcnticth Il. Up - about one
hundred and forty fourth-st. it GOES through pHV't'
propcl1y but beyond that ,;cc; :; follow, Ihid ave.
tlc r,ui. having lccu changed ~ avoid conti"VcisS
with land owners, The completed road II about three
mile, long. and mile further. which h. under con
>qcton viii take i to OuolHnd' "a and seventy sev
euth-st. This point j, expected - BE- reached b'
Nav l. This line is 10 run along the avenue 10
FofdAam While there projected routes one on inc
east side which runs through -. Magys IarA ann
West Farms to Bronx Park ana one on the Wcet sac
which will reach Ia tho old Jerome Fark Hic"Ua"''
A branch Will move TO the west from one hundcd
and sixty first 81. and Third ave Ia a." Eighth ave.
bridge over The Harlem. Tho Ines. when finished
,s,u cover about fourteen mics. and furnish com
urelcn,ivc system Of rapid transit above Ia Harlem
The company ha, been DELAYED IA t. pr'sr''s by
tho condemnation over it, head by the CITY OF ID"
Land ON which have been Nci d>lSc 10 Wv
park. The first decision ~ 'hc ,rts a. u" ,, ,
condemnation ha- been against lhc COMPANY hul ''Io
viii lg. am appeal on the question. ne scchl"' ol
he suburban Company have never been la,"ri ''Ius
held In allowance pending settlement WIN ,'r t,l-
"trictIou company which built the road, and which
IN return for tie cash advanced l.'u'd ~ t'I!,
ing Win them the right To- subscribe 10 me ~t'h ann
i,n,ds - me suburban Company when issued. IL
wa, reported Yesterday that 80 order I" a'Puiir ~.
mar % paN tie money, via !hi resi- Wiz" '.i
been put into The suburban enterprise ll' oo'"
not b. confirmed. ,.,,. -. .
TrfLuuc fcportor sid don't kno" OF dhi Hclul t
lions FOR he sale - DE suburban road t' ia" Nan
haitian Railway Company. either bc,%r,H me , "'
pauie~ thciu,cyc, o. between stochhoiteIr dt'.If
merely a. individuals. CumWiitcc was app9Iul+'
an the meeting OF the directors II t' Ha'd'Ihh '
many t1daN which could take 'ogihkah'e "l ."'" ."
ppr,,roscd rurc,,,e Tie c1mmttc. wa, scl~ ttd 10
looh after the Interests Of the compiu' hcioI' me ,
Rapid Transit ommlssion. ana. IN h.'t ~ l"'" ,,
cIg,lly into the subject q cNtcudn: our lines. ii'
c1ittrr would have charge 4 amy plan irr lncIcd'
ing the Mileage OF The Manhattan company