New-York tribune., 1900-03-10
ACTION BY STOCKHOLDERS.
COMMITTEE FORMED TO PROTECT
THEIR INTERESTS IN THE
THIRD AVENUE.

AT the request OF holders of large amount
OF stock of the Third Avenue Railroad Com
pany 1t was announced yesterday afternoon,
William L. Bull of Edward Sweet & Co.; James
N Jarvie. of Arbuckle Bros; Emanuel Leh-
man, of Lehman Bros, and Frederick Uhl-
mann have consented to act advisory
committee for the protection of interests of
shareholders Mr.. Bull is ex-president of
the NewYork Stock Exchange and a WELL
known railroad man. OF recent years he has
been a member OF more reorganization and pro-
tective committees than perhaps any other
fnancier in this city 1t is understood that Mr..
Bull Is a large holder of Third Avenue stock.
Mr.. Jarvie is said to have been interested in
the purchase of Henry Hart's large holdings OF
Third Avenue. Mr.. Lehman, who Is a large
stakeholder for many years a director of
the Third Avenue, but retired from the Board
a year ago, in consequence OF his disap-
proval of the management of the corporation.
Frederick Uhlmann. who is also largely inter-
ested In the company, recently receiver OF
the Brooklyn elevated road and is thoroughly
acquainted with street railway properties.
The counsel for the new committee David
Wilcox. OF Opdyke, Wilcox & Bristow. and
Hollis Wagner & Burghard. Mr.. Burghard Of
the firm. being a son-in-law of George Ehret.
who is heavily interested in the Third Avenue
company. The circular announcing the forma-
ton of the stockholders Advisory Committee
says:
Although concurring in the view that the best
solution of existing difficulties lies in harmonious
and united action between the creditors and share
holders on an equitable basis they nevertheless
think that the interests of the shareholders may
having for its sole object the care and protection
not at present deem II necessary to call FOR de-
posits OF stock but stockholders are requested to
wilson. No. IS Broad,st' at the oice Of Edward
Sweet & Co; giving their addresses and the amount
of their holdings.
considerable amount OF stock it was
nounced yesterday has been deposited with the
Mercantile Trust Company under the agree
ment entered into for the mutual protection
OF the stockholders and the creditors OF the
Third Avenue Railroad Company, synopsis
OF which agreement issued Thursday
by the Creditors Protective Committee
Kuhn. Loeb & Co. yesterday authorized a de-
nial of the report that the firm had made any
announcement concerning subscription for
Third Avenue stock. All talk of $3O.OOO0OO
having been raised for reorganization purposes
was declared to be nonsenscal. The report was
said to have originated in the Board room.
William y. Amory yesterday offered 10 Re-
ceiver Grant his resignation as secretary TO the
Receiver. and Mr.. Grant accepted it. Mr. Grant
yesterday afternoon declined 10 comment on
Mr.. Amorys resignation and reticent re-
garding Edward Lauterbachs visit TO the office
of the company earlier in the day
Mr.. Grant added that he must decline 10 say
anything about the report that he would declare
excessive agreements and contracts void. An
other question asked OF Mr. Grant was whether
or not he as receiver, had power to dispose OF
any of the franchises of the Third Avenue Com
pany's tributary lines. He answered that In
his opinion he had. as temporary receiver, no
such authority.
Frederic p. Olcott after he had
left Mr.. Grants office. Asked to the state
ment that the sum OF S10OOOOOO had been
raised to meet the immediate needs of the Third
Avenue road, Mr.. Olcott said that any money
needed would certainly be forthcoming at the
proper time.
Third Avenue shares sold up to 5t1a and as
low 53A. closing at 56ta, a net gain for the
day Of pa points. About 265OO shares were
traded in.