New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-02-11
TRACTION PEOPLE WANT 1T.
NEGOTIATIONS FOR THE CONTROL OF
THE ELEVATED.
POSSIBILITY THAT THE PROPERTIES WILL PASS
INTO THE HANDS OF THE METROPOLITAN
COMPANY WHICH THEN WILL PRACT1-
CAII.Y HAVE ALL TIE TRANSPORTA-
ION LINES IN THE METROPOLIS.

CAII.Y HAVE ALL TIE TRANSPORTA-
TION LINES IL THE METRoPoLIs
It Is among the possibilities that the elevated
railway system Of NewYork will pass into the
hands Of the Metropolitan Traction Company
which controls the Broadway, Ninth-ave. ana
Lexington-ave cable lines. the Belt Line the
Sixth-ave and Eighth-ave. and the Grand-st.
ferry and West Forty -second-st ferry horse-car
lines and several of the important crosstown
lines. including those thro Ugh Twenty-third ana
Thirty fourth SITS
In December a proposition was made by Metro
poitan Traction interests to purchase the hold
ings by the Jay Gould estate and by Russell
Sage of the stock OF the Manhattan Railway
Company. which owns the elevated roads. Ihe
first offer was l30 and the price was raised untii
Il reached l50 but all offers were declined
Then proposition made for the Metro
politan Street Railway Company. when Is
company owned by tn. Metropolitan TRACTION
Company, to lease the elevated roads under d
guarantee Of per cent q year on the stock OF the
Manhattan Company. This offer was not ac-
cepted.
Now the negotiations have been resumed, ana
there is said to be some prospect that they VIII
be carried to a successful conclusion Inc ui'i-
dends on Manhattan stock for a nuihoer oi
years have been at the rate or per cent ou'
for the last wear or two the earnings OF the
company have been less than the diViuehos o'
account OF the competition Of the cable roads
The deficit for the year ending June 81. 1872 was
s277954 The passengers carried were 22I.fO',ls''
and the earnings were sl so In the year end
ing June 3O 1898. while IN the year ending June
20 1895 the passengers carried were B'olf'sSs'
and the earnings were s96s4.7O5. The balance
for dividends for the three months ending sep
ternber 3O 1895 was s62.sll. against Sl'2ii' Tor
the corresponding period in 1894
THE MANHATTAN STOCK.
The capital stock Of the Manhattan Company
is 10000. OOO The Gould estate owns about
81, COO 900 Of the stock and Russell Sage about
81 100000 These two blocks lack only sl.Ooo'oOo
Of constituting one-half Of the total Al loO the
cost Of these blocks would be s2l.c00000
Manhattan stock sold on the Stock Exchange
on January at 9s7. Yesterday 1t opened at lO'.
advanced 10 llS and closed at lll&. The gain FOR
the day was 3L. comparing the c.oslng quota
ton with the final figure OF saturday. The sai's
were $3.50 shares 1t plain from the course
Of the stock that something was UP.
When asked II It was true that the Metro
politan Traction intor-stS were negotiating i"r
the control Of the elevated roads by purchas,
or lease George J. Gould. who Is president oi
the Manhattan company. said simply that ne
knew nothing about the matter From other
sources however. II was learned that the Metro
politan interests stood ready to take ne eie
waited roads on practically any terms that MI
Gould and Mr.. Sage might name
IL PROGRESS FOR YEAR.
A director OF the Manhattan company said:
"Negot.ations with perfectly responsible parties
representlng the Metropolitan people. looking
10 the ACQUISITION by them OF the elevated
roads have been In progress for year pu'
cannot say how they Will terminate. pre-
sumo there IS no holder OF Manhattan s'och
who would not sell II II ne got his price
Thomas f. Ryan. treasurer Of the M"tropoitnh
rrac,,on Company. said there was no truth IN
th, report cf deal for the acquisition by MS
company OF the elevated roads.
II the elevated roads are secured by t,'
Nerrouolitan Interests they VIII undoubt-iiy
be eoiipped with electricity. and transfers 70
and from crosst0wn surface lines VIII also p'
| allowed Pv transfers the business of the rie-
vated roads could be greatly incr"asei during
the late morning end carly afternoon hourH,
when travel at present on the lines ~ rather
slack. g., . =, ,,,,. n
II Is belle. ed in fnan 'al circles TO be only Il
question OF time when tn" metropolitan lrac-
tion Company will have practically All 'h' sur 4,
faca unos I'm New-York CITY. II ~ eNpec,'u
tha,l Il VIII take In with the reat us powerful
ccmr::itor. the Third Avenue Hai'toau 'o'"-
4