New-York tribune., 1897-07-30
DRY DOCK ROAD GOBBhED.
CONTROL SECURED BY THE THIRD
AVENUE.
THE CONTRACT PROVIDES FOR THE SALE OF THE
STOCK AT 5000 A SHARE.

THE CONTRACT PROVIDES FOR THE SALE OF THE
STOCK AT $500 SHARE.
Edward Lauterbach, who is director In the
Third Avenue Railroad Company and also the
leading attorney for the company. yesterday
confirmed a report that the company had maue
a contract for the purchase OF controliins IN
terest in the Dry Dock East Broadway ana
Battery Railroad Company. Negotiations for
the control of the Dry Dock road by the ihiru
Avenue line have been In progress several
weeks and they have been conducted manly
by Mr. Lauterbach, representing the Third
Avenue directors. and Gustav e. Kissei' presi-
dent of the Dry Dock company. The contract
provides for the purchase Of the majority OF tne
Dry Dock stock at $500 share. Dry Dock
shares have been selling recently at $40
share. The company's capital stock was si'-
2OOO 900 in 12,OOO shares. The Third Avenue
people therefore will pay more than the entire
original capital stock of the Dry Dock company
in order to secure a controlling interest
II the contract Is approved by both companies
the Dry Dock will pass under control OF the
Third Avenue on August %. There has been
free transfer OF passengers between the cars oi
the Dry Dock line and It's branches ana tne
Third Avenue cars for about two years put the
Third Avenue directors feared tnat the oao-
trolling interest in the Dry Dock line II the!
failed TO secure IT. The Dry Dock people there-
fore were in position to get a hgh price io'
the majority of stock.
Mr. Lauterbach said yesterday that the zeal
was of much Importance to the Third Venue Avenue
Railroad Company. because II would ihcIease .
the facilities of the company greatly on the eas'
side Of the city below Forty -second-st I'M
provements will be made in the Dry DOCK 'lhe
and it's branches. and probably there VIII pe
change In motive power. so as to do away WIN
horses and use either the underground troHey
compressed air motors Under me new ,ho -,
der also there will be a connection between the
Dry Dock line and the Forty second street llhe'
and the Third Avenue will thus have conhsc-
tions to all the East River FERRIES pet"ee"
Grand-st. and Forty-second-st. ,..,
The main Dry Dock line runs from IWeh'!
third-st at the East River through avenue a.
East Fourteenth-s ST. Avenue B, East Tentn-st',
Avenue D. Eighth-st.. Lewis-st., Grand-st.' East
Broadway and Park Row to Ann-st' returning
by the same route 10 Grand-st. ana through
Columbia-st. Avenue D.. East Fourteenth-st'
and Avenue A to Twenty-third-st
The Canal Street branch runs from Hrahu- 81 81.
and the East River. through Grand d-st East
Broadway Canal-st Waker-st., North Moore
ST. Washngton-st. and Cortlandt-st. 20 tne
North River, returning through GreenWlch, ST.
Beach-st Lspenard-st., Canal-st. ana Hrahu-s 81.
The East Thirty-fourth street pranch @ ruhs
from Thirty fourth-st. and the East RNcl
through Thirty-fourth-st. First-ave East Four
feminist Avenue b. Second-st., Essex-st East
Rroadway and Fark Row TO Ann-st, returning
through Park Row, East Broadway. Cllntoh-
ST Avenue B. East Fourteenth-st frst-a'e'
and East Thirty -fourth-st. to the ferry. .
The Desbrosses Street Ferry branch runs from
the Crand-st. ferry through Grand-st.. Sullivan
st Vestrv-st and Greenwch-st. to DesDrosses-
st. and the ferry. returning by nearly 'he same