The Providence news. (Providence [R.I.]) 1891-1906, 1902-03-20
THEY OBJECT
IOaThE tEASE.
NM W
Stockholders a6ai slAjuncilon
Against Metropolitan Co.
lNTERURBAN co. INVOL WE'D.
Complalnanis Assert That Company VIII In
Future Pay More Than The Seven Per
Cent Guaranteed by Lease
lNTERURBAN co. INVOLVED.

New York, March 2O.-Harry Content
and Walter Content. as stockholders OF
the Metropolitan Street Railway COM
pany. obtained a temporary injunction
from Justice Grsenbaum in the supreme
court yesterday in a suit 10 restrain the
Metropolitan Street Railway company
from leasing its properties 20 the Inter-
urban Railway company or otherwise
turning over its properties to that com
pany.
These companies and the Metropolitan
Securities company are made defendants.
The temporary order does not prevent the
stockholders from voting today on the
proposed lease. but only the delivery of
possession under the lease. IL is return
able Friday.
With the Contents. the plaintiffs, are
associated Camille Weidenfeld and Par
ker W. Chandler OF Boston. The appli-
cation was made eX parte without notice
to the defendants, but the court directed
notice TO be sent TO counsel for the Met
ropolitan and Interurban companies
Counsel for the defendants announced
their readiness TO proceed with the argu-
ment on the motion on the merits at the
earliest possible moment. The plaintiffs
were not ready and desired TO have the
motion heard on March %. but i'm view of
the fact that the stockholders meeting
was 10 be held tomorrow morning the
court made Its order rctufnaDle fVludN
morning at l0;SO O'Clock and announced
that the motion must bs argued at that
time.
The DEFENDANTS attorneys declined 70
give a stipulation, coupled with condi-
tions not u deliver the lease after its
ratification by the stockholders. and
stated that they would prefer that tenn
porary injunction issue against taking
possession under the lease, provided the
plaintiff was compelled 10 proceed imme-
diately with the argument OF the motion
The plaintiffs attorneys are Scharps *
Scharps, and with them are associated
William G. Dewitt and Treadwell Cleve-
land. The Metropolitan company Is rep
resented by Judge Charles r. Brown and
the lnterurban company by Guthrie, Cra-
vath g. Henderson.
The plaintiffs allege in thei~ complaint
that the Metropolitan Street Railway
company Will In the future. pay much
more than the per cent guaranteed un-
der the proposed lease, and that they. the
plaintiffs will then be deprived OF the In
creasd profits: also that II would bf an
easy matter to raise s20,oOo,ooo by mort
gaging the road II II Is necessary TO spend
that amount now for improvements and
10 pay off the fioa ting debt.
II III. Vreeland. president OF the Met
ropoitan Street Railway company. said
that he attached no importance TO the ap-
plication for an injunction and that
proxies in favor of the lease had been
sent I'm from over so per cent OF the com
pany's stock-a larger amount OF stock
than has ever before been voted upon
any proposition submitted by the Metro
politan Street Railway company TO It's
stockholders.
Harry Content and Walter Content COM
pose the New York stock exchange nrm
OF VI Content AZ Co. l. a $. Wormser OF
the stock exchange, who have been con-
Quoting a movement TO secure proxies 10
be voted against the proposed lease at to-
morrows stockholders meeting. do not
appear by name as connected with the ac-
tion begun by the Contents.
ON the stock exchange YESTERDAY the
stock OF the Metropolitan street Railway
company was firm. selling as high 169sl
and closing at 1851. or quarter OF point
above Tuesdays closing price. There
were 1890 shares hold.