New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-02-20
THE INTERESTS REPRESENTED.


The Incorporation in Albany yesterday of the
Rapid Transit Subway Construction Company
! of New-York for the purpose OF carrying out
the contract to be made between John B. Nc
Donald and the Board of Rapid Transit Com
missioners chiefly interesting because 1t at
last revealed the names Of some OF the men
who viii give heavy bonds to the city for the
faithful performance of the contract. August
Belmont concealed their identity up to the
latest possible moment. but on the same day
that his own connection with Mcdonald was
made public The Tribune said that Brooklyn
Rapid Transit and Long Island Railroad inter
ests would probably be found behind the con-
tractor. Now that secrecy no longer shrouds
the directors Of McDonalds construction com
pany this prediction is amply verified. Bald
win, Belmont, Oakman and Young are directors
in the Long Island PaiIroad; Belmont and Oak
man are also directors Of the Brooklyn Rapid
Transit Company; Jourdan and Reed direc-
tors OF the Kings County Elevated, which is
controlled by the Brooklyn Rapid Transit Com
pany; the connection between Cornelius Van
derbilt and Horace C. Du Val, an active director
Of Brooklyn Rapid Transit, is said by Wall
Street men to be close; while E Mora Dawson.
who is Mr.. BeImont's confidential clerk is re-
ported 10 represent Standard Oil money in the
construction company and the Standard oil in
terests are largely involved in the Long Island
Railroad Company
Notwithstanding the fact that so much had
come out about the in the construction
company, Mr.. Belmont refused positively yes
terday to tell the names Of the other stockhold-
ers in the company or the amount OF stock each
had taken. That five men own at least one
hundred shares each is shown by the articles OF
Incorporation. That accounts for $4,000 OF the
S6.O0oOO0 capital stock This company will give
the city lis bond for S4,OOO,OOO. II is a limited
liability company, each man being responsible
to the city only 10 the amount Of the Par value
OF his stock.
It was urged upon some Of the Commissioners
yesterday that the public ought know
whom il is relying for the remaining So $50 900
Of the bond For instance. If E. Mora Dawson
held $4,000 600 of stock the bond might not be
good as if his employer, Mr.. Belmont. held il.
But the Commissioners SAID they knew now the
stock was held and were satisfied Certainly the
directors represent solid interests. Mr.. Oakman
is president Of the Guaranty Trust Company:
Mr.. Young is president OF the United States
Mortgage and Trust Company; William A. Reed
is a member of Verrnilye & Co, bankers; Charles
T. Barney Is president OF the KnickerbOcker
Trust Company; George COppell is a member OF
Maitland, Coppell & Co, bankers and also presi-
danr of me Chicago Wisconsin and Minnesota
Railroad Company and the Wisconsin Central;
Gardiner II. Lane of Cambridge, Mass was a
member Of Lee, Higgtnson & Co, and asso-
ciated with the Union Pacific Railway Company
when Charles Francis Adams was president OF
that company; John Pierce is the contractor for
the new Hall Of Records. and Andrew Freed
Is said TO represent the interests OF the four
guaranty companies who Will 90 on McDonaId's
81 1000 bond BY many he is believed TO rep
resent the Tammany rings interest in the profits
Of McDOnaId's contract.
A duplicate OF the certificate Of incorporation
Of the Rapid Transit Subway Company filed in
Albany with the Secretary OF State was fled in
the office OF the County Clerk yesterday after
noon. A meeting Of the directors will be held
at Mr. Beluonts office to-day 10 organize and
elect a president and other officials Mr Nc
Donald asked the Board Of Rapid Transit Com
rnissioners for more time yesterday before sign
ing the contract, and they gave him until next
Monday. The understanding is however that
he will sign the contract on Saturday
IN his letter 10 the Board he said:
All papers understand, ready for execution
and the contract might be stgrc9 or WefneSdaT
were II not that I informed that Nr Shenars
is obliged be out OF town Thursday being a
holiday the contract cannot be executed then and
Friday would not be convenient I therefore do
not how the contract be signed before
Saturday. I assured by counsel and August
belmont Co. that that appears them the
latest date need count upon. This is 10 inform
You fully OF the condition OF affairs and the rea-
son why I ask for a further extension.
II was said last night on good authority that
Perry Belmont would be one OF the stockholders
OF the construction company
NEW BROOMs SWEEP CLEAN