New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-13
CONSOLIDATION AT LAST.
BROOKLYN RAPID TRANSIT ABSORBs
THE NASSAU COMPANY


At conference yesterday between the repre-
sentatives Of the Brooklyn Rapid Transit Com
pany and the Nassau Electric Railroad Com
pany the much discussed consolidation was ef-
fected and there now remains only the formal
ity OF the Rapid Transit directors taking pos
session OF the Nassau system to make the ANAL
gamation complete. The negotiations have last
ed for months. and the result yesterday was not
unexpected in Wall Street. leading official OF
the Rapid Transit Company. who did not wish
TO be quoted until the directors OF his road had
formally taken possession Of the Nassau road.
said to a Tribune reporter last night:
"A statement was made to the owners OF the
Nassau road yesterday which was finally
cepted by them satisfactory. but the Rapid
Transit directors have not as yet got possession
OF the Nassau road. and until they do it would
not look we'll for to be precipitate. The ne
gotiations. however. have taken great deal OF
time. and Colonel Williams and others Of the
transit company have burned the midnight oil
rather constantly this week in their efforts to
cnch the deal. No doubt the directors Of the
Rapid Transit Company will take possession OF
the Nassau road some time tomorrow, and IL
they do it win be easy to get the Rapid Transit
people to talk about it then.
You may say that all the talk about the
Brooklyn City stockholders holding up the con-
solidaton is nonsense They cannot do H. so
long as they get their rental they have no more
TO say about the fnancierins OF the Brooklyn
Rapid Transit Company than the New-York
Central Railroad has. and that's nothing An
other thing that may as we'll be understood Is
that the present consolidation affects only the
Nassau and the Brooklyn Rapid Transit Com
pany. or. as ii is better known. the Brooklyn
Heights The Brooklyn and Kings County ele-
waited roads are not part Of the deal. nor is the
De Kalb-ave. surface railroad 1t Is 'ust the
Brooklyn Heights and the Nassau. and nothing
more"
The above statement was all that could be OBJ
tanned from the Rapid Transit people last night
The Johnson brothers could not be reached.
When Patrick Henry Flynn OF the Nassau
road was seen. day or two ago, by Tribune
reporter. he lntimated that he would fight to
the fullest extent Of his ability the proposed
consolidation. but as he is the owner OF only
one-Afth or one-sxth OF the Nassau shares. IT
Is not believed that ne will be able to Illustrate
Messrs Flower and Brady and the Johnsons:
1t is altogether probable that President Gin
ton L. Rossiter and Secretary I. :. Williams
OF the Transit Company Will be retained in
their present places. President Rossiter has
achieved remarkable results the executive
head OF the system. and the earnings OF the
road last year were more than 100000 in ex-
cess of the earnings OF any previous year In the
roads history.
The Brooklyn Rapid Transit Company con-
trolls 266 miles OF the surface streetcar lines OF
the Borough OF Brooklyn. This mileage Is
made up follows: Brooklyn Heights. I26
Brooklyn City Railroad. 205; Brooklyn, Queens
County and Suburban. A. Sea Beach. II; Sea
View . Besides this mileage already in full
operation, IL owns enormously valuable unde-
veoped franchises in the name Of the Brook
Ign, Queens County and Suburban Road In the
outlying wards Of the city. The NASSAU system
is about one-third as large. and owns number
OF undeveloped franchises in the outlying wards.