New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-07
Positively Last Week
NEW YORK WATER COLOR CLUB
EXHIBITION.
FIFTH AVENUE ART GALLERIES,
$3.50 FIF1lI-AVE.
DAY AND EVENING ADMISSION. IS CENTS.
EXHIBITION.

OH; "fTacas." TIC Thhd.ays. railway people have
had their eyes Ills franchise and tried 10 prevent
the sale through inun q On. obtained in the name "
fhiip Ab'alanls. taxpayer. restraining the Con
rolrr from selling
Yesterday morning Judge Barrett dissolved the IN
junction. ard thc Controller oiir:cd ,he sale. 1t
took Place In the Controllers Office. There were
present William &. whitney. John d. Crimuins, An
iiony Y. Brady and W. L. Eildns. OF the Metro.
pOltan syndicate Henry Hart Of the Tlrd-ave road.
and Edward La-itorDach. counsel fog the company ;
Assistant Corporation COun,, Dean ana number Of
Other citizens and taxpayers. Bidders under The
rules of sale required depot with the Con
;rocr bonds approved In the of $4,000, con
dluoncd upon comlliance wiz. the terms presented.
One OF the rules Obliged tho successful bidder 10 deposit
with the Controller certified check FOR %1OOooOO, 10
guarantee the building. equipment and operation Of
tho road within two years. The purchasers can draw
against this sum in the Conu9lr', hands rs the work
advances b If the road i not completed ut the end
Of two years u, balance +, forfeited 20 the city.
II the work Is not begun Tho whole snm Is forfeited
further condition nate Il obligatory TO operate the
road with connecting lines single 'nrc. with the
nse OF transfer tickets some sucn plan
John ID. Cimm!rs. representing the Houston, West
Street and PavOnla Ferry Railway Company, bid one
eighth OF per cen; Anthony y Brady on the part Of
the Lexington Avenue and ravona Ferry Railroad
Company. organized by the Metropolitan Syndicate.
lid one fourth Of l per cent ana Edward Laut"rAch'
On behal: Of the Third Avenue Company, hid tlrr"
eichhs OF per cent-ll bids bcinS III addition To- d.
statutory requirement. per cont Of the GroAs re-
cepts FOR the first FIVE years and 3 pes cent ther"
after. Mr.. iauteraach. being the highest bidder thu
franchise was knocked down 70 him.
Then the trouble began. Mr Lauierbach refused
10 pat up the 81 10000 deposit check, decnrinl,
that there WAS no law to justify such d demand
He presented to th" COntiSl.e- 4 written piOt'si.
citiuh authorities. Mr. Lau .crlaoh bld had been
recorded IN the name OF uir Lexington Avenue Eii'
read Company and the Controller ANNOUNCED ih1i
to guarantee the t-rm- OF sale va, forfeited.
ll.. Myers then HAD the franchise put up aSall
at auction. john u. Crmmins acAlu Wl on"rlgi I
Of per cent, but A. y. Brady. acting for the Lex
ngron Avenue AM IavOnia Ferry Railway company .
which 1, Mr.. Crmmns', company unlcr another name.
raised lis lid ron oneiuurth 70 onchIlf If pr.
cent ana the franchi4e WAS declared his. Nr. Brady.
who live, IN ADun,. deposited ID" @l.OptOOn checi-
drawn On the Central fruat Company and 1uly Ger
tilted and paid SG.2ij 20. 10" "dNcTtl-lne bis. ~
franchise - sold "tday includes IN" night 10 buili
"A branch ROAD through one hundred ana SiNicHnh Il.
10 MuiniuC -idc
Afcr tie sale Mr.. Crmmin, remarked in IN audible
ton" - voice that Edward Murphy. j.. ~ Troy, Wa
not n stakeholder either IN Che now company ar To-
the Columbus and Ninth Avenue Railroad Company.
Litigation will probably follow Mr; Iauier'uc'
proi,s. against thu sale. and De VII also contest Va
forfeiture Of his company's 10000 bond. The latter
instrument was signed bv President william RemSea.
II the Lexington Avenue Railroad Company. ana BY
Henry Hart. vice president OF the Third Avenue
railroad Company.