New-York tribune., 1897-08-10
THE TWO TO CONSOLIDATE.
UNION OF THE COMPRESSED AIR COM
pANfEs EFFECTED.

FULL DETAILS NOT YET KNowN-THE METRO
PoLrTAN TRACTION COMPANY AND AIR CARS.
Negotiations have just been completed consol-
dating the two companies In this country which
have for their object the development and ex-
ploitation Of compressed air as n motor power.
The two companies which thus join interests are
the American Air Power Company. which controls
the Hardie patents. and the Compressed AIT ROVER
Company, which owns the Hoadley-Knight patents
The advantages of compressed air for propulsion
purposes. the interest that is being manifested IN
the power by railroad authorities and experts.
and the points OF mechanical difference between the
Harde and the Hoadlcy- Knight inventions have
from time to time been fully described In the
columns OF The Tribune. Both motors have had
exhaustive trials upon the surface systems OF this
city. and both, 1t is asserted, have demonstrated
that they are superior to the cable. steam or
electricity In meeting the requirements OF car
traction.
The preliminary papers for the fusion of the two
concerns have already been drawn up. and 1t Is
understood that the deal will be ratified In the
next few days. The American Air Power Com
pany. which is an offspring OF the General Com
pressed Air Company. is capitalized at N,3oWo,
while the Compressed Air Power Company. the
other party to the consolidation, has capital
stock OF sl.OOOOOO. The president of the first
named organization Is T.. A. Willard while Henry
Marquand is treasurer. Edward Comstock vice.
president, Henry d. Cooke. general manager. and
+. +. Pettee, chief engineer. The president OF the
Compressed Air Company Is Joseph H. Hoadey.
and Almeric II. Paget is the secretary. 1t Is un-
derstood. however. that the majority Of the stock
is held by william c. Whitney and few other
large stockholders OF the Metropolitan Traction
Company 1t was the knowledge OF this fact that
gave rise to report that was circulated yester-
day, intimatng that the latter company had
bought up the American Air Power Company In
order to equip its whole system with the Hardie
tLott ttxA litap
Traction Company was induced to buy out the
American Air Power Company because of the fear
that its chief rival, the Third Avenue Railroad
Company. would obtain the exclusive rights for
the Hardie motor. The officers of the two air COM
panies, however, deny that there was any such in
centive to the deal. and said that commercial con-
siderations only Influenced the decision to ANAL
gamate. Nevertheless, 1t is conceded that the
Hardie motors. which have been worked for year
on the One-hundrcd and twent hfth-st line Of the
Third-aye railroad, have proved more satisfactory
Lenox-ave. branch Of the Netropolitan system
politan Traction Company, denied yesterday, when
seen 6y Tribune reporter that his company had
out that such an arrangement could only have
ss ss SAID ha hs
company woad & save large amount of money by
with air power instead of electricity. The intro
duction Of air cars on these routes would save the
duits and erecting expensive generating plants
Despite these considerations Mr. vreeland said
yesterday that no decision had been arrived at by
the directors Of the Metropolitan Company to equip
its entire system with Arrears. In fact, he
planned that two at least of the lnes-the Twenty
third-st and Fifty nnth-st. crosstown lines-would
positively be worked upon the underground trolley
principle.
George d. Cooke. the general manager of the
American Air Power Company, when seen at the
Offices No 100 Broadway yesterday, after telling
Of the completion of the negotatons for the join
the details of the arrangement the capitalization
Of the new company, and as to the probable direc
tors of the consolidated company. He answered
however, that he was not in a position TO give out
any such particulars for publication at present
He was unable also to say whether the directors
of the Metropolitan Traction Company would hold
a controlling interest in the new concern. Mr..
Cooke denied further that the effect OF the deal
would be to shut ON the Third-ave road from
utilizing air power adding that arrangements had
already been made with the latter system to equip
the F'orty-second-st. and Boulevard lines with
Harde motors