New-York tribune., 1901-11-13
Low VICTORY HELPS NJ. s. R.
MIR. VREELAND SAYS RESULT HAS
STRENGTHENED THE COMPANY
PROSPECT OF A BUsINEssLIKE TREAT
MENT FROM THE CITY GOVERNMENT
-HOLDUP OF ELM-sT. LEASE

When the application for the Elm-st. franchise
OF lease for the Metropolitan Street Railway
Company came up the last time in the Municipal
Council there great deal of talk about
the queer way in which 1t was handled The
application for the lease had been in the rail-
road committee of the Council for long time.
President Vreeland in a statement last night,
said that the present sharp rise in the price or
Metropolitan was due common belief that
the company would get under changed political
conditions. reasonable cooperation from city
officials which for a year or more had not been
forthcoming
President vreeland said the delay was owing
to official inactivity" Richard Croker and his
friends the Democratic Club will doubtless
smile when they see 1t put that way. President
Vreeland at the Waldort-Astorld
where he and Mrs. Vreeland dined with friends
and this question was asked him by Tribune
reporter:
"Is It not true that your company was held up
by certain persons at the City Hall, and that
YOU did not get your Elm-st. lease because you
would not pay for t?
'You are not a mile away from the truth'
said Mr. Vreeland with a highly Significant
smile.
President vreeland asked to give an ex-
planation for the rise in Metropolitan ana
Brooklyn Rapid Transit. Within the last few
revived. President vreeland considered the
rn,nors of enough Importance to deny in
formal statement.
THE change In price of our securities s'lu
Mr.. Vreeland, "beginning as 1t dld lInInedla'eiy
after the result of the election was known IS III
my opinion due to the fact that the hhaucit'i
public recognized that the changed cohul'oi'
would be for the benefit Of the Metropoitdh'
which has been unable for year or more, owing
which public necessity demands Inc Nle''o
noi,tan Company having secured the consents Oh
nroperty owners and conformed to all otheI
legal requirements, has been ready at an 'iiiieS
to pay the city for these facilities OF iease'' q"
they really under the terms Vi "
charter They will be of value only III 1aei
ing its operatfon relieving congestion at certain
points, and furnishing the pubic Win CUM
Portable transportation and easy access over
the whole DOT miles of the metropolitan System
"as stated to my men just before electloh'
The Metropolitan Street Railway Company mas
no favors of any kind to ask from pollucidhs
but what 1t does ask and now expects 10 set -
busnesslike treatment and official co-ope' dOiii
In It's work OF transporting the people ol 'ie
city The assurance of getting both ana our
largely increased earnings. have influenced the
investing public and improved the demand lo'
our securities. 49,
what ar, the new franchises or leases?"
.aThe so-caled franchises are, as nave
already told you a mere lease. under the new
charter. We secure for stated sum the use 'l
the streets foE term OF years only ana at 'fie
end Of that time the price for further use is
again fixed ..-.......
The leases We are applying for nave peeh us
cpssed as though they were valuable grants OF
long routes whereas In truth they are shoi'
connecting links The so-called klm-st. IRAN
cnise which is the longest OF them. is '.99o feet
long. and would connect through Elm-St the
Rrooklyn terminal with a franchise Whlch we
own through Lafayette Place. ana there col-
Meeting with the Fourth-ave line at Aslor I lace'
THE second is 33S feet long and would allow
us TO connect on the north side OF the 'e'ieI sun
Market Court by one track through west leH'h-
ST the Sixth-ave. with the Greenwich-ave hne'
instead of on the south side. where we are no"
operating. and where the physical conditlohs'
owing to the elevated railroad pillars, are such
as to make the operation of two tracks pract-
cany Impossible with large cars
us vour statement entirely consistent with
Mr Whitney's support of Edward NJ Shepard
for Mayor" Mr.. Vreeland was asked
1T isn't Mr. Whitney that is making this
statement" was the quick retort; 1t Is Presl-
dent Vreeland who is making it. l have given
what | believe to be the reason for the rise IN
the price of the stock. l Republican, ana
all my friends know It. Ny men know II per per
fectly we'll ! told them just before elec'iDli
that | was q Republican. but the man VINO says
that ever tried to coerce them into voting one
way or the other is a liar ,
when there are more bridges between Brook
Ivn and Manhattan is 1t not likely that the
rumored consolidation of the metropolitan ana ana
the Brooklyn Rapid Transit will take place!
Mr. Vreeiand was asked
The man who deals in futures as general
rule gets bitten said Mr. Freeland. am ho'
dealing in any futures with reference 10 con
solidation of the two systems. My statement
covers the situation. -,
IT is doubtless true that the reasons set forth
hy President Vreeland have contributed to the
rise of Metropolitan stock from l';Z1a on NoVem-
Der g to 1677s November L. That they are
the sole reasons for the sharp advance, however
II would be impossible to convince wall street.
II is believed by the Street that the rise repre-
sents also heavy covering of short contracts, ana
the course of the stock st"ce last wednesday,
inclnes the observing to the further conviction
that Mr.. Whitney and his associates are pre-.
paring to carry into execution some important
plan affecting the Metropolitan The pest opiiir
ion Is that the Waldorf-Astorie conference OF
Monday had relation to the leasing OF the
BROOKLYN Rapid Transit by the Metropolitan an
opinion strengthened by the advance OF BROOK
lyn Rapid Transit during the last few days
Yesterday while a great many stocks Su1leFeu
net declines Metropolitan and Brooklyn Rapid
Transit although closing below the highest ng-
,,res of the day. both made. as usual, net gains,
the former of 2L per cent, and the latter or
la Manhattan also gained point, bat its rise
is thought to be in sympathy with that or the
other traction stocks and in anticipation OIL
favorable showing to be made to-day at Ils
annual meeting. Whatever shall be arranged
between the surface companies, said a man
who should know yesterday, there VIII be no
amagamaton of interests between the Metro
potan and the Manhattan
BOTH ARE BURIED IN ONE GRAVE.
Three children in Brooklyn bowed down
by double loss. Yesterday afternoon they
..aod has,da q = oper grave in Greenwood Gene