New-York tribune., 1900-03-11
OPPOSITION TO Mr.. GRANT.
JUDGE LACOMBE POsTPONEs THIRD
AVENUE HEARING TO MARCH 16.

A meeting held downtown yesterday OF
the newly formed Stockholders' Advisory Com
mittee of the Third Avenue Railroad Company
the conference being attended also by certain
other persons interested in the road. 1t is re-
ported that at this meeting the sentiment ad-
verse to the confirmation of Hugh j. Grant as
permanent receiver of the Third Avenue road
assumed concrete shape in decision to present
the name OF some other man for the place when
the motion for appointing a permanent receiver
comes before Judge Lacombe. The stockholders
affiliated with the new committee opposed
to Mr.. Grant being retained as permanent re-
ceiver, it is said because of his close relations
with Tammany Hail. the chairman OF the Ex-
ecutve Committee of which organization is a
partner in the firm of Naughton & Co. whose
contract for construction work on the Third
Avenue system has been severely criticised
unnecessarily costly to the railroad company
The stockholders also object to Mr.. Grant. II is
said. because of his intimate business relations
with F. P. Qlcott whose trust company Is a
heavy creditor of the Third Avenue company
and with Anthony N. Brady, who is leading
member of the Whitney Syndicate and whose
influence, according to this view would with
out much doubt be exerted toward the ultimate
absorption of the Third Avenue by the Metro
poltan Street Railway Company.
d
denial of the report that the Stockholders Ad-
visory Committee was appointed in antagonism
to the Creditors Protective Committee headed
by Frederic p. Olcott. Mr. Uhlmann said that
all were working together for end-the re-
organization of the property Concerning the
story that he might be made permanent re-
ceiver. Mr.. Uhlmann said:
L wouldn't accept the place IL 1t were offered
to me- l believe that Mr.. Grant is the very
best man for the place. and were my vote neces-
sary to make him permanent receiver 1 would
cheerfuly give it,
Temporary Receiver Grant called at the Fed
eral Building yesterday morning. and for an
hour and quarter remained in consultation
with Judge Lacombe In the latters chambers.
Mr.. Grant accompanied by his counsel Mr
Larkn. John NJ Bowers and Adrian H. Jone
were also present at the conference. Afterward
Judge Lacombe issued this order:
In consequence of the session of the Circuit Court
Colony Trust Company against the Third Avenue
10. at p. m. instead of March H. as originally
The Court will hear parties and any one in
terested as stockholder or creditor, personally or
cevership should continue, as to selection Of per
manent receiver. and also as to whether it is de-
for what purpose. TO what amount, for wha,
period & and ,G at What IA rate upon what terms and
ve In order r. that hat ali ssen ssos be a
ing. the temporary receiver will file on March 13
report containing:
First-An inventory or statement Of assets.
Second-A classified statement of liza bilites show
ing how much is secured by mortgage. how much
by hypothecation of personal property, how much
is represented by liens filed before appointment
of receiver how much by liens filed since and
how much is wholly unsecured.
Third-A statement OF the gross monthly n
ings of the road. shown by the books for three
months including February, 1900. and operating
expenses for the period.
Fourth-A general statement of the condition of
the other roads operated a part of the Third
Avenue system.
Fifth-Such tentative estimates the limited
time at the receivers disposal will admit OF the
amount required to complete necessary change In
motive power
T. j. Cope & Co.. electrical contractors. and
the Falk Company, OF Milwaukee. Wis. yes
terday filed four mechanics liens against the
Third Avenue Railroad. the Union Railway
Company, and the Forty-second Street Manhat-
tanville and ST Nicholas Avenue Railroad Com
pany, aggregating 500, 423 So for materials fur
nished.
Third Avenue stock comparatively mac
tive yesterday. The close was at o6a. un-
changed from Friday.