The sun., 1902-01-16

:sIs sSs Ell 3Ss tsss sNss s q
.ss Ssrs poTsf Tas z: issue s1ss .
Of the remaining ti7,lsoo 900 OF stock az suon
ana a. such pr1ss s.n as issued sa tss
iege shall first be offered to stockholders OF
subscribing for same at suoh price as may
" Rs.oirsS @ II That POf the secretsTy % be. and be
hereby IL. directed 70 issue notices OF the
meeting Of stooksoifSsrs iS to be held A. she
NY, on Wednesday, April is. 1909. At u
o'clock, stating the time. place and object
posed. and sfix thereto the signatures Of the
directors present at this meeting, and 70
publish and TO serve the same in the manner
stoeEhoiders and the approvaI q the Board
New ork be obtained. the President or the
vice-President and the Treasurer are hereby
authorized to execute and issue the said IN
creased stock and scrip in accordance with
the foregoing resolution.
SYSTEM PROBABLY THE THIRD RAIL.
Immediately after the meeting Presi.
dent Newman left the Grand Central and
he was ILL., Senator Depew and the Wander
bits went away together. All of the other
directors declined TO be interviewed, so
that Il was impossible TO learn just how
soon IL is expected that the Improvements
decided upon will be in operation. There
=
there will not be any more delay than Is
necessary. No announcement has been
made, either, as to what system Of electrical
power will be introduced. The objection
to the third rail in the present tunnel has
been that It was impossible 20 install II in
the maze Of switches in the yard and that IL
would be q system useless In a snowstorm
and dangerous where so many men we're
obliged 20 be on the tracks night and day
All Of these objections would be elimin-
NJ al hx tnnaal IN ttnHar ground
station and loop, and II is believed that
the third rail system IL the one that VIII
be put In. The motor car experiments at
schenectady for the Central have been
failures because Of the impossibiIity OF
getting cars powerful enough to haul heavy
trains The only other system, the over
head trolley has not even been considered.
SOME REAL ESTATE ALREADY PURCHASED.
1t was learned from a trustworthy source
yesterday that the New York Central has
bought up all the property east OF its tracks
between Forty-fifth and Forty-seventh
streets as far as Lexington avenue. The
company already owned the block between
Forty-seventh and Forty-eighth streets:
West of It's tracks the company has secured
q strip on Park avenue extending from
Forty -tnnth street to tiity-sixth street.
except the south corner OF Fifty-ffth street.
This strip averages seventy-hve feet In
depth and begins where the tracks issue
from the -switchyard into the cut The
parcel not yet acquired Is plot lOoxlOo
feet, containing fve-story fiat houses,
owned by the Goelet estate. All of the
property acquired on both sides Of the
tracks is inexpensive, mostly fate and .pri,
vate houses. The German Evangelical
Lutheran Church and the Chapel of the
Heavenly Rest, both on Lexington avenue,
are included The broker representing
the railroad, John n. Golding of Pine
street, declined yesterday to say anything
about his purchases except that the prop
erty required has been obtained. and that
none has been bought south Of Forty-tifth
street. The road, however, owns a great
deal Of property south of Forty-fifth street
to the station,