New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-10-26
SHARP ADVANCE IN B. r. T. STOCK.
D1scRED1TED STORY OF POSSIBLE PURCHASE By
THE METROPOLITAN CAUSES THE RISE.

p1scRED1TED STORY OF POSSIBLE PURCHASE BY
THE METROPOLITAN CAUSES THE RISE.
Brooklyn Rapid Transit had sharp advance in
the stock market yesterday on the publication of
positive statement that majority OF its $0ONO0OO
ca pital stock had been bought by Capitalists iden
titled with the Metropolitan Street Railway Com
pany" Following favorable report made by GER
titled accountants, who had been since the first of
the month engaged in examining the Rapid Transit
Company's books in the interest OF these capital
lists that certain Metropolitan directors to
enter the Rapid Transit Board and that a consol-
fdation of the two traction systems likely
to be effected. Opening at co. little above Wednes-
days closing figure, the stock quickly advanced
nearly points, to 649s. The newspaper story was
denied by various interests identified with the prop
erty, but a large part of the advance was main
tanned the Street inclining to belief In the
that Anthony N Brady and some Of his associates
had formed bull pool which would force the price
I'D considerably. The transactions aggregs ted
than 125 900 shares. the stock closing 622s, net
gain for the day of points.
A leading director of the Brooklyn Rapid Transit
Company yesterday afternoon denied that ex-
animation OF the company's books had been made
for the Metropolitan Street Railway Company or
interests identified with that corporation or for
any outside interests. The directors had account
ants at work on the books since last summer with
the sole idea OF ascertaining In what ways econ
omies could be effected. The Metropolitan, he con-
tinued to his certain knowledge, did not to
acquire the Brooklyn Rapid Transit Company, one
of Its chief objections to such step being the fear
that the taking of the property would be fol-
lowed by a popular demand for free transfers
from one borough to the other, a demand which
could not be acceded to. AS to the point in the
published story that the Rapid Transit Company
would power supplied by the Metropolitan,
thus saving large amount of money, this director
said that the generating of electricity in Harlem
be an engineering possibility. but would be a com
mercal absurdity, not to speak of the fact that
the Metropolitan had such surplus of electricity
as would be required for the moving Of the surface
cars Of Brooklyn
Timothy S. Williams vce-president OF the Brook
lyn Rapid Transit Company had the following
say:
You know that the stock of the Brooklyn Rapid
chasabIe We are, of course, liable to wake up
any morning and discover that new interests are
in control. but l know absolutely nothing about
any negotiations that have been going on. 1t is
also stated that there will be a meeting Of the
BOARD OF Directors next week. l director
myself and l assure you that | know OF
meeting that is to be held at that time.
II il stated further that the percentage for OPP
Grating expenses for the Brooklyn Rapid Transit
has been excessive. The average percentage is
60 per cent, but the conditions here in Brooklyn
tween so per cent and 63 per cent is due 10 these
conditions It Is a matter Of fact that We have
me largest mileage of any street railway in the
world, and haul passengers further for one
fare than any other road. Moreover. the traffic
in other cities is Of more confined and congested
Character and the expenses are not nearly so great
as