New-York tribune., 1898-12-16
SOLD TO AN AMERICAN SYNDICATE

THE ENTIRE STOCK OF THE FERRO- -CARRII
URBANO. OF HAVANA PURCHASED AT ~.
Havana. Dec 15-At general meeting OF the
stockholders of the Ferro .Carril Urbano yester-
dav the sale of the entire stock. amounting 10
81 600 600 was authorized at ~ Halt or the
amouni WAS taken BY George w. Young presi-
dent Of the United States Mortgage and Trust
Company: Senator Smith, Of New-Jersey: Per
cival Farquhar F. S. Pearson. Colonel g. B. Nj.
Harvey and Hanson Brothers, of Montreal The
other half was taken by Ruffe Sons and l. W.
Todd. bankers Of London.
CAPTAIN General Castelanos has Issued an or
der stopping work on railroad concessions. with
out prejudice TO the rights Of any Of the parties
Interested until the Americans take control
here This prevents the American Indies Com
pany from beginning the construction Of a
street railroad under the disputed De la Tore
concession.
George w. Young president OF the United States
Mortgage and Trust Company, is one of the most
prominent financiers Of this city United States
| Senator James Smith. OF New-Jersey. is a man OF
large wealth and IL interested In many enterprises
especially gas companies. Colonel George b. Nj
! Harvey IS also well known In this city lid was
formerly Managing Editor Of THE New-York
World" but retired from newspaper management
several .ears ago and is president or director
OF many financial and transportation corporations
I'm this city Staten Island and on the New Jersey
coast. He has been understood 10 represent Will
lam c. Whtneys interests In several of these com
panies and In of the New Jersey coast cor
porations he is associated with Senator Smith.
Colonel Harvey is quoted as having said yesterday
regarding the Havana dispatch:
Il received a cable dispatch last night that our
proposition mas been aecep,ed We had eveTy res- is
seemed be ready 10 make an immediate cash
offer D. Doull. of Hanson Brothers. Montreal. the
general manager OF the Bank OF Nova Scotia. LETT
here for Havana on Wednesday to complete the
transaction. and Mr. Pearson. formerly chief engi-
neer of the metropolitan Street RAILWAY Company.
is also en route for Havana 10 prepare plans for
electrfyng the system immediately;
son Brothers' OF Montreal ne Bsnk Of Novs
Scotia the Bank Of Toronto and B. r. Pearson Of
aside from Mr.. Pearson and inyssf are irry Harry
Payne Whitney. W. X. Ryan and Senator Smith,
is II correc, to assume that your syndicate is
!E%' at 1T all ie Both companies are Working har
monousy in the interest OF quick development or
no conflict OF Interests. | am surprised to learn
that the Indies company proposed 70 bid for the
TO do SO Ii was probably due TO a msunderstand-
ing on the part of their Havana representative.
In any event 1t seems to have had no effect upon
The American Indies Company TO which Colonel
September s. with a capital of slsoVo.ooo, Its dl-
sS,STs are Tn9mSS Polin Elns 4 b g w!ssne sm
{; de- zaldo ii. G. Runkie. Frederic T. Olcott.
Anthony y. Brady Henry D. Macdona. j. NJ.
t'ehallos and II. +. Booth This list includes the
cbief members Of the socalled Whitney syndicate.
except Mr. Whitney himself The company was
formed for the purpose OF operating In Cuba and
Porto Rico and the United States Government re-
Gently awarded 10 contract for the construction
of a wharf near Havana and d seven-m mile steam
railway to run TO the military camp AZ Regla:
F. c. Pearson. chief engineer OF ne MetTopolltan
week or so ago from this port on his big schooner
,.acht the COronet II was announced at the time
;hst. he would cruise In the West Indies. visiting
Cmh, Porto Rico and other Islands. and would
make a trip across the ocean to Europe before re-
fn his home here.