New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-08
FLYNN WILL MAKE A FIGHT.
OPPOSES THE NASSAU RAPID TRANSIT
CONSOLIDATION.

HIM THE LAST CENT FOR HIS NASSAU
~. STOCK AND. IF HE KEEPS HIS
HOLDINGS WILL FIGHT IN
THE COURTS.
p a. Flynn was in Brooklyn yesterday. and re-
fused to accept the offer Of par for his N'oooc"
worth Of stock in the Nassau Electric halroao
Company. This puts Tom L. and Albert L. Johll-
son in a position to close the deal for their stock,
and gives the Flower syndicate absolute control OF
the vast tracks franchises. rolling stock and other
property Of the Nassau company. The agreement
between the Johnsons and Flynn was that neither
was to sell before the other had had the oppor-
tunity to sell at the price as that orereo the
other. Now Flynn faces the Flower syndicate
with his old and more or less effective weapon-a
threat to tie things up in the courts unless ms
terms complied with He wants 10 sell MS
stock but he wants to cell not only for more IMAM
the 20 or so which Wilson took for his stock. but
also for more thaO the par which the Johnson
brothers accepted for their stock.
statement was made yesterday that Flynn had
demanded l25 for his stock. but TO Tribune re-
porter he denied last night that he had specified
any amount II satisfied with the situation.
he said. Let the offers come from them
In other words, Mr.. Flynn will squeeze them as
hard as he can trusting upon their desire to avoid
the injunctions and suits he can institute not only
as stakeholder in the Nassau company. but as
stakeholder N the Brooklyn City Railroad. the
Coney Island and Brooklyn Railroad. the Brooklyn
City and Newtown Railroad and the Brooklyn
elevated railroad Flynn has steadfastly refused
all requests that he aid in the consolidation prop
osition He demands cash for his stock
Mr.. Flynn had long consultation yesterday az
ternoon In his Office In the Real Estate Exchange
Building. in Brooklyn. with Senator Michael -
Coffey and Flynn's lawyer, James c. Church. Mr.
FLYNN told Tribune reporter that there was no
likelihood that any Of consolidation of local
roads would be effected for several weeks at least
Did the proposition to you 70 sell your stock
come from the Johnsons or the Flower syndicate!
inquired Tribune reporter.
Mr.. Flynn replied In an evssive manner ana SAID
that what with propositions from Merriam and
from the Flower people and others 1t was pretty
dificult to tell who engineering Things
I'm other words" said Mr.. Church. "the situa-
ton reminds one Of the old farce Who Is WhoY
Both Mr.. Church and Mr.. Flynn laughed heartily
at this. and it would seem to Indicate that MT
FLYNN has been assaulted with propositions from
many sources recently
IF you continue TO hold your stock and an enort
ia made TO consolidate the Nassau company with
another company. will you oppose it in the
courtsT'
Certainly" replied Mr. Flynn
What will your grounds beT
THAT will be for the lawyers to decide" inter
rupted Mr.. Church.
viii It be on the grounds that your interests as
a stockholder in the Nassau company "ouiu pe
hurtg' asked the reporter
Yes" was the reply.
At meeting of the directors OF the Nassau COLI
pany yesterday some routine business was ua"S
acted and an adjournment was taken untn next
week. The question of consolidation was dlscusseu
and tho proposition was opposed by MI rlyhi'
Edward Merritt president of the Brooklyn CITY
Railroad Company. said yesterday that the uf
rectors Of the company were unit III oPpoSi''oi'
to the proposition to exchange STOCK ior JULIUS
and thus prevent a readjustment OF the securities
Of mai
were likewise opposed to the plan, ne SAID
T. S williams. secretary and treasurer OF 'ne
BROOKLYN Heights Railroad Company issued
statement yesterday in which he denied that theie
would be any fricuop at the meeting Oh Tue $50 80
holders Of the Brooklyn City Company 10 De heio
this week His statement Is as follows:
In order TO set at rest definitely and finally
newspaper concerning possible IS101 t IN
the stockholders meeting OF the bro1 on annual
meetings Of the brooklyn Rapid Transit a ano
ac"r Hex week arising out Of alleged differ.
ence opinion over matter OF tne sourit
81 fies thG Wo%id ike 70 state emphsueay ., ,ne
Frs-That no Pan lVr o gne Securities could
be undertaken alone by that COMPANY OF y oIn
lessee road the Brooklyn ,S meet be ont approval Of
The security holders Of both compaes' q, securi
az" Of any of the constituent companies mas peen
presented to the drectors ana n od pr of the
Brookiyn Rapid Transit Company can reeoihiieHu
to the directors or security -hoiueIs or in
'rbird-No attempt of any kind, Directly OF "a
s,ran,Iv has been made by the Brooklyn Rdpu
Transit Company or by persons h Ryookyn
Citw Railroad Company. to be used al the annual
meeting to be held next Monday any ap%ebfest
SSonnds ton in truth. The officers OF the Broohlyh
Rand Transit and Brooklyn Helghts c2 Pp IS
1895 and hone that there Will be no clahse III
me present directors and officers or the BROOKLYN
C' 1syon nh order TO be successful any plan OF
establishment must be so fair in its teI ms as 70
annrOyal practically all lNOst "HOsS
Soidines are affected. and plan Will De preseill
Which does not possess this essential e,eneha VI
fajrness When such plan shall De 1oThula , teu
and approved by the directors OF the BTo0nI3H a
Rapid Transit Company, 1t VIII be anno unsss
anapIv and confidently. and until then any gossip
or minors regarding the plan viii be mere specu-
lation-