New-York tribune., 1900-03-22

ana DY president Nreeland that the metropolitan
Street Railway Company had secured con-
trolling interest in the stock of the Third Ave
Railroad Company while not doubted at
any time since it first made, Monday
night. received official confirmation yesterday
in the following statement, issued late in the
afternoon
A meeting CT the directors of the Third Avenue
office Of Edward Lauterbach. at No. % william
ST. at which the interest representing the Metro
pohtan Street Railway Company put in charge
The designations John Z. Parsons William H
Curtiss. David c. Andrews. Alexander Hadden.
John Byrnes. John H Waydell and G. Rowland
stead were elected Grant B, schleey Walter 5.
new. Thomas F RTan Jobn m o. Crtmnins iI,nii and m r.
H YreeIand, who now together with Henry Hart,
Henry Iden and Charles Remsen compose the
The resignation of Mr.. Elias as president was
also, also oitereq ana accepted. and H. H Vreeland,
president OF the Metropolitan Street Railroad was
elected president pro tenn Mr. Hart remains
vice-president.
The relations of Messrs. Whitney Ryan and
Vreeiand TO the Metropolitan too we'll known
to need mention. Mr. Johnston is president of
the State Trust Company, which is controlled
by Mr.. Whitney and his associates. Mr.. Grim
minis, who is a large stocSholder in the Forty
second Street, ManhattanvfIIe and st. Nicholas
Avenue Railroad Company, has recently been
outspOken in criticism OF the Third Avenues for
mer management. has apparently again
into harmonious relations with the Whitney in
terests. from whom he has been for some time
mere or less estranged. Mr.. Burghard, who is
a member of the firm of Hollis. Wagner & Burg
hard, counsel for the Third Avenue Stockholders
Advisory Committee. is a son-in-law Of George
Ehret who is of the large holders of Third
Avenue stock. Mr.. Schley is the head of the Stock
Exchange firm of Moore & Schley. The reten-
ton as directors of Messrs. Hart, Lauterbach
and Elias is taken by Wall Street as rejecting
the auicabe understanding which has been de-
c,ared TO exist between Mr.. Hart and his friends
and the new controlling interest in the Third
Avenue company
WITHOUT THE SLIGHTEST FRICTION
A representative Of Mr.. Lauterbach authorized
the statement that the retirement of the old di-
rectors and the election of the new ones ac
complished without the slightest friction. The
changes. it was added. for the benefit OF all
concerned. So far as could be learned the ques-
tion Of financing the Third Avenue road did not
come up at the meeting.
There were no meetings Of the Stockholders
Advisory Committee nor Of the Creditors Pro-
-rective COMMITTEES At Receiver Grants office
it said that news had developed there.
The campaign against the Third Avenue shorts
was resumed yesterday in the stock market. and
at the close of the day it was declared by Metro
politan interests that the end had yet been
reached. Third Avenue opened q per cent up.
at 102, and in a few minutes put to 112 By
Il o'clock it had reacted to 110l5 and for the
rest of the day sold below that figure, the close
being at 106 net advance of 4&4 per cent as
compared with Tuesdays last price. Brooklyn
Rapid Transit and Metropolitan were also again
active, but showed at the close advance from
Tuesdays final figures There was a good deal
OF profit taking in the first hour, and the pool"
which Is said TO have engineered the Metropoli-
tan-Third Avenue deal is reported to have let go
several large sized blocks Of stock Neverthe-
less although the pressure the shorts was
apparently relaxed in the Of the day, 1t
is understood that the stock is to be still further
advanced. It has been ascertained by the shorts,
II is said. that about eight hundred OF the share
holders of record of the Third Avenue Railroad
own an average OF thirty shares each, making
total Of "A COO and that in addition to these un-
attainabe and scattered holdings, most of them
Of years standing, there over fifty lots of
the stock. aggregating in all 10000 shares, in
the hands Of trustees and guardians, who, under
wills and deeds. must hold on 10 them. This
would take out of the market calculation Of
stock available for delivery 10000 of the total
number Of outstanding shares 100000, and TO
this may be added Henry Harris $4,000 shares
and the large blocks which have been deposited
by other shareholders collateral for loans, as
well as the extensive holdings actually in pos
session Of the Metropolitan group.
MR.. KEENE DECLINES TO TALK.
The greatest interest naturally attached to
James r Keene's position. but at the close OF
the day Mr. Keene was reported to be still
r7easurablv serene although communica
tive He was seen at Delmonico's last night,
bu+ declined there as at his office TO speak
about the Third Avenue matter 1t was credi-
bIv reported yesterday that the thirty-two thou
sand shares Of Third Avenue. which. accord
ing to the Streets understanding of the situa-
ton were intrusted 10 Mr. Keene by Mr.. Hart
as collateral for advances. had been deposited
under an agreement that Mr. Hart should have
the privilege of calling them at 100 at any time
within a year. and that Mr.. Hart has now
reached an understanding with Mr.. Whitney
and his friends whereby the latter would speed
ilv call this stock, in the expectation that Mr
Keene would be unable 10 deliver II promptly.
The Consolidated Exchange bear operator who
was reported on Tuesday afternoon to be in
serious straits on account of his losses in Third
Avenue and other traction stocks managed TO
extricate himself from his difficulties his stock
clearing sheet going through yesterday, al
though a good deal behind time. Mr. Wager
of the Clearing Committee of that Exchange
after examining the accounts Of this operator
said that his financial condition was perfectly
sound adding. as quoted: 1T would take the
floating capital Of the Bank or England to meet
at once such numerous demands were made
upon him yesterday account Of the activity
in Third Avenue shares. But he has completely
satisfied me that he cannot only meet all de-
mands but that his finances are in good con-