New-York tribune., 1901-11-12
LOOKS LIKE R4ILU4T MERGER
METROPOLITAN AND BROOKLYN RAPID
TRANSIT INTERESTS IN CON


TRANSIT INTERESTS IN CON
In the last hour of the market yesterday
rumor spread through Wall Street that the
Metropolitan Street Railway Company had at
last gained control of the Brooklyn Rapid
Transit Company. and that there would soon be
a consolidation of their interests with the Man
haitian Railway Company.
Interests identified with the Brooklyn Rapid
Transit and the Metropolitan maintained si
IenCe on the subject Of the report. but in the
Street not much credence was given it. Met
ropolitan brokers expressed doubt to the
truth of the report.
A meeting of he Brooklyn Rapid Transit di-
rectOrs was held in this city in the afternoon.
but some of those in attendance declared that il
had no bearing upon any proposed consolidation
or merger project Perhaps by coincidence.
however. there held at the Waldorf-Astorta
a conference between certain of the leading Met
ropolitan and Brooklyn Rapid Transit interests.
some of their legal advisers also being present.
1t is that such conferences have been held
before one. for instance. having taken place in
the early summer of 1899; but there seems bet
ter gronnd at the present time for believing that
the control of Brooklyn Rapid Transit is soon
to pass 10 the Metropolitan indicated in
The Tribune Sunday.
The stock. Of both companies have shown
the Manhattan Railway Company. which has
figured so many times as a property which ul-
timately would pass under the control of the
METROPOLITAN. Brooklyn Rapid Transit has been
selling for some time at a low figure, and it has
been reported in we'll informed circles that Met
ronolitan interests have been buying large
blocks of it at below 6OL
From time to time for the last few years there
have been reports that the Metropolitan Street
Railway Company about to take over the
Brooklyn Rapid Transit Company In Septem-
her 1900 the rumor was circulated with un-
usual persistence At that time William C Whit
,av said in answer a question whether or
not control of the Brooklyn Rapid Transit was
being secured by the Metropolitan:
Il know Of no such move IL is. OF course. true Ie
that Brooklyn Rapid Transit stock is low dt
closed at 493s on that day., almost as low as
Third Avenue when the Metropolitan gained
control. but does that prove anything? me
truth is that the Metropolitan has enough TO
look out for at present on this SIDE OF the East
River" -. -r:.
might not be contemplated in the near future
Mr. whitney answered: Il do not want to speak
for the future
At that time the Metropolitan had had con-
troll of the Third Avenue system barely 1"ur
months Since then nearly fourteen months
have elapsed The improvements on the Third
Avenue costly and long drawn out under the
old MANAGEMENT. have been completed. ana
Metropolitan methods have been introduced in
the operation of the road by President Freeland
and his associates. The Third Avenue is run
ming smoothly, and is virtually part Of the
Metropolitan although operated as a separate
system. .,,..
The burdens resting upon the Metropolitan
mana asement therefore, may be presumed TO De
less pressing than they were when MI w hltneS ;y
spoke in the fall OF last year. and II may wen
be that Mr. Whitney and his associates no"
feel that the time has come when the brooklyn
Rapid Transit problem can be dealt WIN