New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-01-19
AFFAIRS IN BROOKLYN.
a STATEMENT FROM PRESIDENT LEWIS.
HE REPI les TO CRITICISMS REC RIDING THE
ABSORPTION or TIE BROADWAY COM

"A STATEMENT FROM PRESIDENT LEW II.
HE REPLIES TO CRITICISMS REGARDING THE
ABSORPTION or TIE BROADWAY COM
PANY's LINES.
President Lewis, of the Brooklyn City Railroad
Company, has taken the stockholders Of that cor
poration and incidentally the public into the con-
ndence Of the directors in regard 70 the absorption
Of the Broadway Company's lines. to Offset the
criticisms made regarding the transaction here
ofore reported. lie says that syndicate purchased
the Broadway and associated lines a few months
ago in the interests Of the Brooklyn City Com
pany and the corporations formed to control
It, the Brooklyn Heights and the Long Island
Traction companies The Brooklyn Traction Com
pany (hc Atlantic-ave. SYSTEM subsequently
made overtures toward consolidation Of all these
interests. But this fell through. he says. Then
the Brooklyn. Queens County and Suburban Com
pany was formed TO take in all the Broadway
properties and the consolidation OF this with the
Brooklyn City system effected this week.
Mr.. Lewis says Of the property acquired by his
company: at not generally understood what
the purchase Of the Broadway railroad meant The
price which was named for the property seemed
very high and would have. in fact. been very
high. provided the price only covered the Broad
way Railroad Companys property. but this was
not 1t covered the properties. franchises, etc'
cred extensions with the right to operate by cleo
trcity. which had been procured in the city OF
also covered the right to convert the existing rail-
roads from horse power 10 the overhead system or
electricity. II also covered extensions, with the
right operate 10y electricity. which had been pro-
cured in the county towns eQuallinS about twenty
miles Of railroad. that the mileage or the system
aggregated, taking the Broadway and associated
companies first at forty-thrce miles Jog miles OF
railroad existing and to be constructed.
THE acquisition permits OF the use OF the Jamaica
Plank road. upon which the Jamaica and BToohiyn
Road Company now operates a railroad, by the
Brooklyn city Railroad COMPANY, ana VII allow
the branch which opened a year ana a hai ago
from Ridgewood to Richmond Hill to go on
through the Jamaica Plank Road and through the
town ana village of Jamaica, by laying double
curve only. The from Ridgewood TO Rich
mond Hill is operated by steam power. but
within year this will he changed so that cars can
be run from Fulton Ferry and the Bridge through
Futon-st.. and then Mrytle-ave.. and Jamaica
Plank Road To Jamaica. No straighter line could
he drawn than the line Of Mrytle-ave., from the
City Hall Richmond Hill" ...
The Suburban Company is capitalized at Sl0ONVO
and 26o0n will be spent in putting in the trolley
all the lines.
j. ~ Seligman & CO. and II. Il. Hollins & Co.
of this city and f. W Clark & Co.. of Philadel-
phia have united In a statement to the public re-
pardng the alleged connection of Henry Ives with
the Broadway G}rookym railroad system They
deny that Mr.. Ives had, or has any interest in the
transaction. and say that the property was bought
commission.