New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-02-09
SIXTH VENUE SURFACE RO4D.
IT Has BEEN LEASED FOR A LONG TERM.
SECURED BY THE METROpOLITAN TRACTION
COMPANY-THE MOTIVE POWER
MAY BIZ CHANGED.


MAY BIZ CHANGED.
\ report was published yesterday afternoon that the
Metropolitan Traction Company had leased the sixth
Avenue surface Railroad for 800 years under guaran-
lee OF is present earnings. The object in view l. said
to bc IN. Introduction of the trolley system Of over
head electric wires which, II substituted for the present
horse power would greatly reduce the running eN-
pens, II the road. and would enable the Traction Com
pany not only to make good its guarantee OF tile pres
ent rate of earnings but woud leave handsome proft
besides, The fact that Arrangement might DC niane
with the Manhattan Elevated Railroad to string the
ele crc wires on their structure woud do away win
some Of the objections OF the trolley system ana would
Involve little expense.
The stock of the Metropolitan Traction Company Is
largely owned In Philadelphia, ard W. l.. Ekins ana
p. A. b. Wdner, OF that city. are chiefly interested IN
II. The New-Iok managers are exSecretary whitney,
Daniel :. Lamont, Henry Thompson and W. Is. Dins-
mor,. The company organized In le9l TO operate
roads controlled by the Broadway and other companies
and i, practically the same : the tmcion company
which operates the street railways in Philadelphia
Frank Curtis, the president Of the sixth Avenue Rail
road. said to Tribune reporter: i nave heard OF
this several times during the last few weeks
also heard that the Fortysccond street Railroad and
several others had been leased but cannot at present
say anything about H. In few days something def
mite may be even to the press
road, also seen, but would neither affirm nor deny
the report. Mr. Whitney and Mr. Lamont wero out OF
town yesterday At their Office in the Mills Building
no willing to give any information on the
subject
Frederic p OlcOtt director OF the Sixth Avenue
Railroad Company. was seen at his home, No. 4 Fast
Fifty thrdst.. and said The lease OF the sixth
Avenue Railroad Company's property is practically
made. Tho negotiations to This end have been pend
iur nd
upon and nothing remains but the ormaty Of passing
the papers This the lawyers on both sides are doing
~ rapidly rs possible and the whole transaction will
be completed In few day. | am not at liberty to
say whether not the lease is for 900 years, bit
con say that IL /, for long time as ii Is possible
to make 1t and that II j. practically - perpetual lease
We have been quite willing to lease tine property for
the last few years. provided could get proper and
pon-life paic, to take il and give guarantee
OF good dividend, In the future As to She exact
torn, Of the lease | cannot say, but the sixth
iycnu" Railroad Is one Of the, best paying
roads in the city. Although 1t has not as
great milcagc Is some surface lines its profits are
pfoporiianally among the highest. such being In,
ca>, You may be aired that the company is not
going to give practically perpetual lease Of this
valuable properly without pretty good Inducements.
10 say taat guaranteed the present profits OF
the road IS indefinite and / decline TO talk on that
point.
"lhi, lease has been sold TO the company that
operates ths surface railroad line In Avenue {: and
tne same company that bought the lease Of the
Twcnty-tiIri-t. line and the Br afway line. About
the Forty -,'cDnd-s st. line and the Blue Car line
know nothing definite. | also know nothing about
the tulnDfcd trolley system being lntr duced on me
SiNtInyc. line. but II til string their wrs on the
clcyatcd structure that would cOmpcate matters for
they would have 10 maze some arIahE n"nt WIN me
Manhattan Railroad people. I only know that this
company to whom the perpetual lease of the sixth
ave. sine +, about 10 be sid put cable in tn r
broadway road and II wOUld seem reasonable Ia sup
pose that they had confidence In thar .ySem Of trac-
don and might put IT In their SiXth-ave. line. The
crossing Of the ,iXthnv.. cable at Broadway Il an
cheering problem TINT ! know nothing Of. but 1t
rcunOf ho insurmDunt,lb!" one. II seems very
likely that the comply taking the lease Of tho sixth
aye. railroad Will employ some ether power tAan
horse power. This seems thc probable. 1t Is
Philadelphia company that has bought the len and
HAT city has become famous for It's cable street ear
systems
Tic little advertisements OF the people appeal
to every condition OF man ana woman. They run
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