Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1900-03-01
THIRD AVENUE RAILROAD
Mechanics Liens Amounting to About
Six Million Dollars Filed.
REORGANIZATION UNWARRANTED
Payment of the Dividend Due
Today Deferred.
RAILROAD CO.'S COUNSEL INTERVIEWED


Associated Press Dispatch by Special Wires
New York. Feb. 2S. Mechanics liens
to tho amount of 81, $40, 692, for ma
terials and services rendered, were filed
today against the Third Avenue Rail
road %. by Naughton Il Co.. railway
contractors. The John A. Roebling
Sons Co. has also filed lien against
the same company, for materials fur
nished.
A signed statement was issued tnday
nv VermIlye d Co., Heiaelbach, Ickle-
heimer 4 Go. aud Hallearten & Co., as
follows: referring to our announce
mont of February 23d, that we, on be-
half of the holders of majority of the
stock of the Third Avenue Railroad
Co., were Investigating the affairs Of
that company with view to undertake
ing the reorganization OF its Finances,
we regret to state that, after investiga-
tiou of its affairs, We have concluded
that the facts do not warrant cur going
on with the business as proposed"
It is announced that the directors of
the Third Avenue Railroad Go. have
decided to defer the payment of the
dividend of per cent due today until
further orders. Edward Lauterbach,
counsel for the railroad company, says
| that when the dividend was declared,
| two weeks ago, it was the belief OF the
directors that all the money needed for
the obligations of the road would be
promptly Forthcoming the subsequent
failure Of negotiations with the two
syndicates caused the directors to
rescind the order.
The Westinghouse Electric Manufac-
turing Co. of Pittsburg, Pa. today, d led
a claim Of S507, 1861 against the Third
| Avenue & Forty second street and Man
| haitian Il ST. Nicholas Avenue compan-
| les, for electrical appliances and ma
| chimes furnished. The Westinghouse
| Co. and Church, Kerr & Co. Of this
city filed claim against the Third
| Avenue Railroad Co. for 1922, 416, for
switchboards, engines, electrical appli-
ances and machine oil furnished. The
list of claims thus far aggregates
s., $40, 1914.
| IN WALL STREET.
Wall Street. New York, Feb. 28.-
The movement of prices was much con-
fused at the opening today, both In the
specialties and the railroads. Third
Avenue was vigorously supported at
Yesterdays low level, and. after dip
ming to that, rallied 21s POINTS. Sugar
fell Ia, and Metropolitan gained l1a.
Other changes were fractional and
mixed.
Purchasers by the shorts carried
Third Avenue up to 5415, and good
gains were made by Consolidated Gas,
Metropolitan Street Railway, Western
Union, Tennessee Coal and Peoples
Gas. Later, the announcement Of thu
dissolution of the syndicate attempting
the reorganization of Third Avenue
produced renewed liquidation in thu
stock, which dropped to 501a., Stimuli
taneous attacks on other local ISSUE
occurred, and they fell 1a21a, with tn
offerings of Brooklyn Transit very large
, Sugar dropped to l03k, and the meta
stocks also became heavy. A rally \
Sugar of 2 points helped the genera
list somewhat. Third Avenue rose 21E
but other changes were mainly frac
i tional.
, The advance carried Peoples Gas u
, to par, and lifted Tennessee Coal Al
! extreme 21a. Leather fell more than
/ point, on statement of yearly earn
i ings, and carried other specialties wit
1t. The general tone became heavy an
: dull in consequence. Third Avenu
was pushed up to Sc, and caused
firmer tone elsewhere.