New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-04

DECEMBER II THE DATE FINED FOR TIE SALE
OF TIE ROADs-BROoKLYN ELEVATED OWES
$4,000 AND THE KINGS COUNTY $4,000.
A conference was held yesterday morning in the
Office OF the Corporation Counsel Of Brooklyn by
CORPORATION Counsel Mcdonald. Assistant Corpora
ton Counsel Ycnge. President Hardness. OF the
Board of Assessors. and Register Of Arrears Hin
r.chs on the question Of policy 10 be followed d!
the city in reference 10 the sale OF property OF the
elevated railroads Of Brooklyn for tax arrears
The companies-the Kings County and the BROOKLYN
elevated systems-have sought unavaiiingV' Dy
bringing suit. restrain the city from selihs theIt
property. No preliminary Injunction has been Is
sued in the matter. Mr. Mcdonald oeneNes ''la'
the action 20 secure an injunction could not be
sustained ard that therefore the preparations for
sale should be continued. Mayor Scheren was
informed Of this determination. and SO were the IN
terested companies The Mayor heartily approves
the result OF the conference.
Nj Hinrichs has decided begin the sale OF The
railroads property on December Il. and then 10
have an adjournment or discontnuance OF sale un-
IL January s. 1896. by which time. ne hopes. the
companies Will see fit to pay voluntarily me re-
deslrous OF having the matter settled definitely be
fore his Of office expires, at the ehd Oh NEXT
AZ present the ax arrears due from the Kings
County Elevated Road. IN nine wards amount 10
Ssi So a.: the arrearages due from the Brooklyn
Elevated Road. IN eighteen wards make toIaI 90, 90
1921 As. These arrearages are Of taxes for lsSS
The main reasons upon which the companies seek
relief are based upon rights il their franchises
which they say gave them the exclusive privilege
OF rapid transit transportation on the streets thel
franchises cover They say that the Board OF
a dermen acted in baI faith when II permitted me
surface roads the same streets 10 operate the!r
lines with electric or rapid transit systems as
the companies contend that since the trolley mas
been introduced there their business has oeen IN
iured Yesterdays conference showed that TINS
contention by the companies was not logical as the
assessment If the Brooklyn system is less than .
pr cent Of the present market value OF the securl-
ties OF the company and the assessment OF the
T. fcrr~- :
market value OF its securities.
The determination to proceed reached by the city
officers yesterday was entirely unexpected TO I'd
ward Ialitarbach. the counsel Of the Brooklyn Ele-
waited Railroad. He says he will rot decide upon
the course he will pursue 20 prevent the sale on
December Il until he mas been officially informed
Of it, He afirn.S that the companys contest 10
secure az injunction Will result IN victory for the
company II the matter be pushed too hastily by me
city. IT'S Just question OF the amount OF taxes
10 be paid" says Mr.. Lauterbach. we only ask
for proper assessment. There's no need OF haste:
orr property Will be there for six months 70 come.
Frederick Chlmann. the president OF the Brooklyn
Elevated Company. says that Il Is absurd Tor me
city officers talk of selling the road on December
IL such talk IS superficial. and amounts 10 moth
tnS when they attempt Il. OF course, the courts
VIII give US protection" says Mr. Chlmann he
did not say what his company Will pursue TO
contest the enforcement OF the decision reached at
Yesterdays conference.