New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-11-15
FRIDAY,
NOVEMBER IS. 1895.
THE THIRD AVENUE WINS.
1T GETS THE KTNGsBRIDGE ROAD AMI
ST. NIcHOLAs-AvE EXTENSION.
THE BID OF ssIs PER CENT FORCED BY THE MErs
RoPoLrTAN TRACTION PEOPLE THROUGH

RoPoLTTAN TRACTION PEOPLE THROUGH
ANOTHER COMPANY.
The franchise known as the Klngsbridge Road
and st. Ncholas-sve. extension, which the great
rival corporations, the Third Avenue Railroad
Company and the Metropolitan Traction Company.
have long fought to control was yesterday knocked
down the Third Avenue Company by Controller
Fitch's auctloneer bid OF 3si2 per cent OF the
gross receipts This was largely in excess OF the
upset price which per cent OF the gross re-
ceipts for the first five years and cent OF the
same thereafter.
A corporation known as the North End Railroad
Company which IS outgrowth OF the Metro
politan Traction Company the competitive
bidder, and ran the price up 10 IS per cent. the
Third Avenue then put in a successful bid. The
city auctioneer Peter J. Meyer, OF the real
estate firm in which Richard Croker is a member.
When the sale had been announced Edward Lau-
terbach counsel for the Third Avenue Company.
said with ,acetious smile. 10 William c. Wilt
ney. who had been present TO direct matters on
the Metropolitan side: You are very generous 10
the city"
why that is all we can do" returned Sir. Whit
ney, with duplicate smile
THE PRICE A LARGE ONE.
The bid for this valuable franchise is the bigh-
est ever made IN New-York except in the fake auc-
ton OF the Peoples Traction franchise few weeks
ago The routes Of the extension as adopted by
| the Board OF Aldermen. the application OF the
Third Avenue Railroad Company, are as follows:
From the junction OF Kingsbridge Road. or
Broadway. and West Observation-Disclosures
ond-st. through and along Kngsbrdge Road, or
Broadway. to and across the proposed new bridge
over the Ship Canal: thence northerly through and
along Kingsbridge Road. or Broadway. from pro-
posed bridge the Ship Canal TO and across
! the bridge over Spuyten Duyvil Creek Broad
way: thence norherly from the bridge over Spuyten
Duyvil Creek at Broadway through and along
Broadway. 10 The city line
Also from the junction Of West One-hundfed-
and-twenty -hfth-st. and ST. Nlcholas-ave.. 10 a
junction OF said avenue with Manhattan-ave thence
southerly and along Manhattan-aye 70 West
One-hundred-s nd-sixteenth-st
Also from the junction Of Kingsbridge Road, or
Broadway. and Rverdae-aye.. running thence
northwesterly and northerly through. upon and
along Riverdale-ave TO the city line.
Also from The junction OF Manhattan-st. and
Eleventh-ave or Boulevard through. upon and
along Eleventh-ave, or Boulevard. to the junction
Of Kingsbridge Road or Broadway, al or near one
hundred and sixty ninth-st.
The successful bidders must within thirty days
after securing the right Of way pay $4,000 into
the city treasury in accordance with the previous
agreement
Several lawsuits are likely to grow out OF the
sale Before the sale Thomas H. O'Connor, a tax
payer interested in the fight applied for an injunc-
ton 70 stop the sale. but Judge Lawrence refused
TO grant it, The Metropolitan Stree; Railway has
! brought a suit to shut the Thiri-ave. company.
alleging that as IT has a cable railroad in operation
/ In OF the streets and thOroughfares covered
by the franchise. another company successfully BID
ding would be forced the able over that part
Of the road operated by the Third-ave. company.
greatly handcapping the other company.
on the Thrd-ave companys side OF the question
/ Mr. I.auterbach filed with the Corporation Counsel
and the Controller protest against permitting the
North End Railroad Company bid on the ground
.f.f- had 1via cd
Section % OF the railroad law which requires street.
railway companies before they can iegally DO buz-
ness to fe their certifcaLe OF incorporation WIN
! these complications
NOT on sCHEDI LIE TINE.
The sale was to have come off al yesterday.
according to the advertisement, but Controller
! Fitch was not In his Office at that hour Deputy
/ Controller Storrs ordered a until p. m.
There present at that time Mr.. whitney and
Mr. I.auterbach. El!hu Root. II H. Vreeland, presi-
| dent, and II. a. Robinson, attorney OF the Metro.
politan company ex-Iieutenant- Governor William
F. sheehan ard Professor Collin, counsel for the
| Union Railway and Southern Boulevard companies,
and Albert J Elias. president. and John Beaver,
! treasurer Of the Th!ri-aye. company. Controller
Fitch presided with First Assistant Corporation
Counsel David j. Dean on one side and Deputy
ControIier Storrs on the other c,.,.. ,
Metropolitan companys protest already spoken OF,
agans, going with the sale Peter +. Meyer,
ne duCfOneer, fcdI me OF tnt 'On-
troler giving legal notice Of the sale. Then Mr..
I,auterbach read the Thrd-ave company's protest
against allowing the North End Company TO bid
The Controller consulted with Counsel Dean. who
advised that the sale proceed The Controller
hereupon overruled the protest and announced that
the North End, the Southern Boulevard and Third
Avenue companies were qualified bidders, each hay-
ing filed bonds In $4,000.
The bidding done by Mr.. Lauterbach for the
Third Avenue. and W G. Smaller. president OF the
North End Company. who stood behind Mr. Whit
/ news chair Mr. Lauterbach bid per cent lover
the upset price fixed by the statute). Mr. Smaller
sad g. and Mr. Lauterbach 81" Then Smaller
/ said "a" and Iauterbach %" Each went half a
noint better than the other, until Mr. Lauterbach
hid "3ss" Then Mr.. Whitney gently nudged Mr..
Smaller and the latter ceased TO bid.
/ The auctioneer asked for more bids, but got no
more and the franchise went to the Third Avenue
Railroad Company.
Mr. Iauterbach asked il the protest OF the
Third Avenue Company against the North End
Company being permitted 20 bid would be used by
the Third Avenue people 20 nvadate If possible the
connecting company's bids. and reduce the price OK
| The franchise to Mr. Lauterbach's first bid, per
cent over the upset rate.
! Mr. Lauterbach replied that he could not tell what
| The LAWYERS Of the company might decide on when
thev got together He added:
| ..rhe Third Avenue Railroad Company was organ
zed in ls52 II has been called upon 10 pay any
Great percentages tho city and its directors may
conclude that il afford 10 pay the 3s'2 per cent
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