New-York tribune., 1900-03-31
MORE POWER FOR GRANT.
,rcoNFs PERMANENT RECEIVER OF
ROULEVARD LINE-EXPENDlTURE
AND CONTRACTS AUTHORIZED.

--.A Grant was yesterday appointed pernis-
= receiver OF the Forty -second-st., Manhattan
m. and St Nicholas Avenue Railroad in the pro-
s.-es brought by rhe Loran Steel Company, OF
49, creditor OF the railroad corporation for over
,-ano and he was required 10 file bond In 100000.
- WIS no opposition. but Mr. Van Sternbergh.
.a legal representative OF the Advisory stockhold-
., Committee. said that al first II was planned to
st for the appointment Of a co-reciever. but that
= ,6ea was abandoned and Mr.. Grants selection
= s,e,,-er was considered satisfactory TO all in
-as,s Judge Lacombe said that II at any time
- seveloped a conflict OF interest. which
- ~ seem 10 be possible. because Mr.. Grant
sssnted both creditor and debtor, he would
rsren 10 motion for the appointment Of CO.
receiver
a. Grant as receiver OF the Third Avenue Rail-
= r-on7nanv recently petitioned for an order
s-.zinr the making OF contract for acquiring
.s.-t,-sI mower. for the Installation of certain
- ,sns;on cables necessary TO transmit power for
sc. for the purchase Of certain equipment neces-
- n handle and control such additional power:
- ne overhaung and equipment of seventy-ave
.,-,a- cars. and for the purchase OF cotton rope
so- ruIlevs for the Third Avenue Railroad"
The n4rltou also says that the total horse power
- he railroad IS at present $40 and that in order
a,e,-aceously 70 operate the Third-sve. road
s,1er and the small portion OF the Forty-second-
:. lire 1850 additional horse power should be OBJ
aimed ana developed. The petition describes the
several lines and also the power houses The re-
.f,s- ADDS that an increase il the power is abso
,elr necessary and says that there are two meth
o5s available to secure power. one being TO equip
re houses ar Bavard-st. and the Bowery and at
orehundred-and-thirtie and Amsterdam-ave
fb the electric machinery the other being 70 con-
--art for additional power with the Metropolitan
c,raet Railway Company. The rest OF the petition
concerns the cables and summer cars which
are needed
JUDGE LACOMBE'S OPINION.
T,11r
rscorbe has filed this opinion:
The various suggestions contained in the petit
are sPPr9ved II M uGh Gsntn fns more n from se
49, iro~rorsri0n which has now acquired as the
S-rr- is advised majority of the stock OF the
Ssssndant Certainly. it is far more economical
tbsr undertaking 70 enlarge or Increase the power
bnnses of the Third Avenue. The receiver will en-
es 5ur If he cannot get the work done at less
man the figures named they viii be approved;
Before making contract Tor laying the caoIes ano
making the changes in power houses however, II
resentaves Of the Metropolitan system as 10 style
and grade OF cables and other apparatus. Unless
some change is made, they will be the ultimate
oWre-s and so far as possible it is desirable that
sT expenditures on construction account should be
q o. sI.srs-ion % when receversip is terminated The
rent asked for power is approved, Ine open cars
H -Hfit WORK s1d other which Is the subject OF an
otber application. viii require considerable ex-
pz+ ps-l. -S1st available for Construction account
- - .La-s4c-a anrhortzed 10 borrow the money
On receivers notes. Should the recent change Of
EaB % ez 7O94f @ sPfsy Fvssd for %s the
Other debts Of the road Should the TeceiveTsh.p
lei on the property be issued the first proceeds
received from them will be USED 10 take up these
notes
THE FORMAL ORDER.
The formal order to the receiver by Judge La
coube says in part;
The receiver is authorized and directed 70 enter
mo contract with the Metropolitan Street Rail-
.s8 Mefr1opoiitan street Railway Company add
tional electrical power al price not 70 exceed IL
ssi5 metropolitan Street Railway Company at its
power station Ninety-sixth-st- and the East River,
from time 10 time Il necessary borrow the
erounr necessary 70 make the payments under said
contract and issue his notes other obligations
Ia payment therefor.
The order also authorizes the purchase OF high
electric cable sufficient 10 the power
house q the Metropolitan Street Railway with the
northern terminus Of the present cable OF the Third
Avenue Railroad Company. at Sixty-hfth-st and
Tht-i-age, al q cost not TO exceed sl1,675. which
SUN the receiver is authorized 10 borrow and TO
issue therefor his notes or obligations
Another electric cable authorized be laid is TO
connect ne temporary power house at One-hun-
dred-snd- -thirtieth-st and Amsterdam-ave. with
the Metropolitan Street Railway power house. at
East River and Ninety-sixth-st. at q cost not 10
exceed s2 OJ 90 Static transformers and wire con-
necticns for the electric apparatus al the Bayard-
81 and Amsterdam-ave. power houses. not 10 cost
over sn,ssl also authorized, and seventy-hve
sumner cars for which authority is asked by the
recelver. provided the work is done al cost not
g exceed So l51
The amount which under Judge Lacombe's order
OF yesterday Nj Grant is authorized TO spend,
no. including the necessary under the contract
. De entered into with the Metropolitan street
kaliEay Company for electric power. makes a total
o. slis.505 8. which is 70 be covered by the re-
eelrers notes OF other obligations.
Ihe hearing which have been held yes
terday before A Il. Masten the standing master
u ne matter Of The issuance Of receivers certin-
Gates for the purposes Of the Third Avenue road,
was adjourned until April 10. The object OF the
hearing Will 1e 20 show whether II IS or is not
necessary that receivers certificates shall be is
sue1, and. Z necessary. TO what amount, in what