New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-24
16eNe%38r0ob|yo.
MORE REORGANIZATION.
.rrD ROADS MAKE MOVE
TOWARD CONSOLIDATION
work AHEAD FOR RAPID TRANhr VI
-rr,1s WHEN PRESENT PLANS ARE CAN
v1rn our-AN IMPROVEMENT FOR
TUE TRAVELLING PUBlIC

vzrS PRESENT PLANS ARE CAR
,rn or-r-AN IMPROVEMENT FOR
THE TRAVELLING PUBLIC
49,. chief speculation now by the Brookiyn
IN, Ex-Governor Flower and others In
~ -, Of the Brooklyn Rapid Trensit Com
and the Nassau Is how soon the Reported
., President Rossiter and Secretary VIII
- ,or the reorganization Of the physlcai S's
- the road can be accomplished 1rea'
80, are expected Of the meeting OF the VI
80. on February II to increase the capl'ai
- from 100000 900 10 S45W0"o b! 'na'
wv. q ,s asserted by the friends OF Mr. rlo"e,'
W.. ,vo elevated lines Will be so impressed WIN
- Advantages to he gained ny an ai'"'e
Wv 18th the Transit system that SAFE "'''
s.cted without difficulty. With that inc
. u.o-k M President Rooster AND secretary
.,.r,. nc will have Just begun. They VIII gray
,.h tho nrohem Of how TO make two lame
,o elevated roads a paying part OF thc'i
trolley system .a,
80 ~, month the trolley lines have eaten
49,. earnings Of the elevated roads anu
49,. &c nothing 70 indicate that the orH' -
- 10 reversed Will the managers ne
80. % got = greater share 81 patronage lol INV
LATED roads and what good VII " no '
....~1.ard7 e a question often h"aru a'o','N
-, eororrh Hall Both systems VI" '"eH NC
..ae- me head and " would See'n tha' o'''
-. u.or,d he the others gain snd ina. '"'
I'D bo Only 60 much water IN INV 'U'
ANYWAY 60 40 vas
VIA the new management proposes ~ Wv W.
.,,ssled IN part - a Tribune reporter SeS'''
40 & not entirely new. Al present '"o w.
vo.ds are working at cross purposes a.
As :
,..inr lines used to in Philadelphia As soon a.
,,s Oyake~ City lines were consolua'e" ny
,erar ~ show largely Increased ne' ear
,.s, ,.a- the earnings reached about $o'-
0fl0oo v-i,h a capitalization OF ABOUT ''''VV $500.
AN ~. latter Ncure is what the new 'ranSI'
,o-,rsnv will have in the "ay oi C@P''" an
..n he Two systems working in harmony eN-
covernc~ Flower Is said 70 peheN' ''''
sonsII, good showing car be MADE
.. ,,,,,e 1o,,h, in the minds Of those close
- prssident Rossiter that the elevated ROADS VIII
80 ..~ -sai rand transit purposes. making
o,,,. NO ~ three stops on any Of the hVe mes
>, -. ,uo roads This will get passengers 10
ptdg.uood East New-York cypress HIS ana
p r2idpA in from fifteen 20 twenty minutes
,5sn o transfer ticket viii carry the passenger
,bs remainder Of his trip in quick order
For Rrooklvn this would he real rapid transit
A., rould sppeal strongly TO Manhattan people
.-1 ~ the ernbarrassments OF the "rush
49,. Thousand. If new riders would IN thls
~, he attracted 10 Brooklyn, and the business
-. .bs roads would be materially increased.
D., ,bs .restest immediate difference would
:. - The economies o. management possible
1--aer every elevated line save the Lexington
&c the trolley lines have their feed wires
.,r,nz a. present Equip the elevated ROADS
-,.i,b .i.-tricitv and the expensive coai-ea'iis
ard uare.eating locomotives would ne oone
.uav With The third-rsil electric system on
,be Bridge has demonstrated how easy ana
economical is electric power for even heavily
,s6A, nassenser-cars The Brooklyn Elevated
Road is already partly equipped with cleo
t-icitv and the Transit people expect 10 com
pete The equipment al the earliest posslple
5sv. once they get possession u the system.
TbA Reorganization Committee OF the Kings
County Road have taken what rs oelleNeo 20
be The first step looking 20 q consohoaton win
the rapid transit system by Issuing the foHo"-
ing circular.
To the Holders Of the First Mortgere Bonds Of the
Kings County ana Fulton Elevated Railway
In View Of pending negotiations and tor other
reasons Il, Is necessary tor the proper 0d
honds NJ lie KINGS County and Fulton Elevated
RAILWAY companies that these bonds should ne
En-o,+,s. a. soon &c possible Copies Of the agree
rent 70 De executed by depositing oondhoiders
-
OF q, the ofrce % the Guaranty Trust Company,
which has consented 70 act as the depositary OF the
bonds AS II is impossible at the present time 10
formulate any plan OF reorganization. ms agree
raeut contains provision that any oeposlting pond
holder may withdraw his bonds without charge
within thirty days after the publication OF the plan
o. reorganization IN case the provision made there
by tor the holders Of the bonds IN question IS un-
satisfactory 10 him. The committee Will act for all
Donehoders who deposit their BONDS with the
GUARANTY Trust Company or Or before the 10Th day
0. February 1899 The Trust Company VIII give It's
regotis5lA receipts for the bonds deposited.
AUGUST BELMONT,
WILLIAM A READ,
WALTER OAKMAN.
JAMES JOCRDAN.
Reorganization Committee.
vsg-vo-k ian ? 1899
The pending negotiations" the Rapid Transit
people assert, can refer to only one thing. Rapid
Transit people seen Yesterday were IN the dark
with reference 10 what the Reorganization Com
rni,tes OF the Kings County road would offer as
9 plan OF reorganization.
Something definite will be required before
the bonds are finally surrendered" said a
Transit director 20 Tribune reporter yesterday
but IN the end the Transit will get the road
i is the only way out FOR the Elevated people
and they know IT.
FUNERAL or EDWARD II. r. LYMAN.