New-York tribune., 1900-01-31
ONDERDONK ASKED TO AID.
RIVAL BIDDER LIKELY TO JOIN IN
MDONALD'S CONTRACT

MDONALD'S CONTRACT.
THE LATTER WILL. BID FOR LONG ISLANDS
EAST RIVER TUNNEI~PELMoNT WORK
ING HARD-CoNTRACToR's BONDS.
Additional evidence cropped out yesterday
that Brooklyn Rapid Transit interests are being
brought to the aid Of John B. Mcdonald through
the influence of August Belmont One of these
confrmatory facts is that Andrew Onderdonk
has been asked to take share Of Mcdonald 8
$780, 900 underground railway contract Mr..
Onderdonk was backed in his big contract for
the widening of the main ship channel Of New
York Harbor by at least two men who have
large interests in Brooklyn Rapid Transit. How
successful Mr. Belmont's overtures to Mr.. On
derdonk have been may be judged from what
Mr.. Onderdonk said yesterday when asked il he
would join Mcdonald IN the rapid transit con-
tract, and thus lend to Mcdonald the weight Of
Mr.. Onderdonk's powerful hackers. as he did
once before in the Jerome Park Reservoir job.
Mr.. Onderdonk is man OF few words which
he weighs we'll before uttering He paused a
while before answering this question, and then
said: All wish to say now is that Mr.. McDon-
aid will get his bonds all right"
Men who have known Mr.. Onderdonk a long
time think he would not speak positively OF
anything in which he had not hand. From
another source 1t was learned that Mr.. onder-
donk wanted Mr.. Mcdonald to join him in bid
ding for the rapid transit contract, but Mr..
Mcdonald insisted on going into it alone. The
fact that he bid $3OOOOOO less than the Rapid
Transit Boards engineers estimated that the
| road would cost, and S4.3000O0 less than his
partner, has been admittedly a big factor in the
difficulty which has arisen over the bonds,
tain surety companies not taking at all rosy
view of Mr.. McDonald's prospective profits.
After Mr. McDonald's refusal to join Onder-
donk in the original bid, it would be, of course.
rather humiliating for him to have to ask On
derdonk to help him out. but this is obviated
by the fact that the request to Onderdonk comes
not from Mcdonald, but from Mr.. Belmont, in
whose hands the formation OF the construction
company wholly rests.
ALL LEFT TO MR. BELMONT.
When Mr. Mcdonald was asked yesterday
who were going into the company, he said en-
phatically that he did not know. did not even
know who had been invited since all that had
been taken over by Mr.. Belmont. While 1t is
confidently expected that big block of stock
in this company will be taken by the Brooklyn
Rapid Transit people, there is no idea that they
will take all of it. Others will be asked to come
in. That Mr.. Belmont is already using his in
q
to interest it's controlling powers in Mr.. McDon-
AIDS contract was shown yesterday by Mr.. Nc
Donald's admission. made to Tribune reporter,
that he intends TO bid the Long Island Rail-
roads tunnel under the East River which will
tap the Manhattan tunnel. Mr.. Mcdonald could
construct both together more cheaply than sepa-
rateIy. for several apparent reasons -
Several big firms in Wall Street have been as
sociated with August Belmont before now IN
IT1,T1O tran J1yhiC
Morgan & Co., Kuhn, Loeb & Co. Winslow La
nier & Co., Ladenburg. Thalmann & Co. and
Brown Bros. & Co. Any or all of these might
take an interest in the construction company.
James Brown, of Brown Bros & Co, is quoted
as saying yesterday: I'VE are not in the syndi-
cate al present. We cannot. however tell what
may come later This is one of those matters
in which negotiations are still going on
In spite of these evidences of Mr.. Belmont's
activity. Mr.. Belmont himself would not see re-
porters yesterday. From his private office he
sent out word by a clerk that he was not ready
to issue his promised statement yet. The general
opinion seems to be, in spite of delays, that Mr.
Belmont would not have lent the name of his
house to this thing at all if he did not intend
to 'see it through" The Belmonts do not like
to fail. Nevertheless no progress was made yes
terday with the guarantee companies. Their
representatives held two long conferences with
at the close of the last Mr. Nicoll announced
that, while the prospect for an early settlement
was bright there must be another conference to-
day Andrew Freedman said that, while his
| company ready to assume its share of the
risk, others were standing out. Some of the
smaller companies were represented in the con-
ference yesterday but they evidently did not
decide to take hold
SURETY COMPANIES CONFERENCE.
The meetings were held at the office of the
American Surety Company, and those present
were the president Of that company, Mr.. Lyman;
John R. Bland, president Of the United States
Fidelity and Guaranty Company, who came
from Baltimore; Charles NJ. Swain. president
pany. of Philadelphia, who came from that city
in order to be one of the cOnferrees, and repre-
sentatives of the National Surety Company and
the American Bonding and Trust Company. The
Fidelity and Deposit Company of Maryland was
not represented. Some thought this to be an in
dcation that Mr. Platt's company had drawn
out but Mr. Mcdonald said this was not So
He added
A construction company will be formed with a
capital OF 5,O0OCOC or SGOO,OO. There is not has
not been and will not be any insurmountable
trouble about the bonds August Belmont will re-
ceive subscriptions to the stock OF the company
through the offices Of his concern. going to
to the contrary.
Andrew Freedman said:
We have submitted a proposition to Mr. McDon-
aid that believe he Will accept. We are ready TO
take our share of the bonds so soon as the con-
tractor accepts So far are