New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-11-29

afternoon, in reference 10 a published statement
that several OF the financiers who are largely
Interested in the Interborough Rapid Transit
Company also interested in the projected
NeB-York and Port Chester Railroad; The In
terborough Rapid Transit Company has no in
terest whatever in the New-YOrk and Port
Chester Railroad Company, nor have I" It was
said in Wall Street, however, to be not impos-
sibe that some Of Mr.. Belmont's associates in
the marlborough company might be interested
in the Port Chester road, although he himself
was not
PORT CHESTER FEEDER.
Whether or not any Of the capitalists identi-
fed with the marlborough company are inter
ested financially in the Port Chester road, how
ever. II seems evident that the latter road,
when completed, will be a valuable feeder for
the marlborough Manhattan system, and il is
believed by many students Of the traction
situation that It viii in course OF time pass
under the control Of the Interborough. 1t is
also generally and almost universally believed
that before q very long period the Metropolitan
and Brooklyn Rapid Transit systems and the
Observation-Disclosures system viii be brought
under single control.
Manhattan stock was firm yesterday, making
net gain of q per cent the closing price, 1868,
being the highest Of the day. Metropolitan
gained Ia points. Metropolitan securities 215
and Brooklyn Rapid Transit 22s points.
The InterborOugh Rapid Transit Company,
the point was made yesterday. is a holding COM
pany well as an operating company. 1t was
Incorporated last May. under a special charter,
with S35O00000 capital. one CT its first acts,
after organization, was the acquisition Of the
entire S6,000OO0 capital stock Of the Rapid Tran
sit Subway Construction Company, which was
INCORPORATED at Albany on February 10 1900 for
the construction of SubWaV. paVmeDt Tor
this stock being made in stock Of the Inter
borough company. The boards Of directors of
the TWO companies are Identical in composition,
the members OF each being ". Il. Baldwin,
jr., August Belmont, Z. 2. Bryan, Andrew
Freedman, James JOUrdan, Gardiner Nj. Lane,
John B Mcdonald Walter 6 Oaknan, John
PIERCE, Morton F. Plant, William a. Read, Cor
nelius Vanderbilt and George w Young. Mr..
Plant has recently entered the two dlrectorates,
succeeding Charles 7. Barney. Mr.. Barney, II
may be noted, is G brother-in-law of William
c. Whitney, who is a leading figure il the Metro
politan Street Railway Company.
OF the S35,OGG.0GO stock Of the Interborough
company S13 600, 600 is full paid and S21 100000
IS 40 per cent paid, making S2zlbuUUU paid in
and leaving So. $40 600. or 60 per cent of the
S2l 100000, 10 be called UP as occasion may re-
quiTe.
PLANS FOR GETTING ELECTRICITY.
An erroneous impression has prevailed that
the marlborough company had made pro-
vision for the generation of electricity for oper-
ating its trains, but the fact is that six months
ago II began Work on a great power house or us
own. This plant. which Is part of the equipment
Of the IuterborOugh company, and must there
fore be paid for out Of the proceeds Of the com
psnys stock is being erected at Fifty-ninth-st.
and the North River, on plot Of ground for
merly occupied by the abattoir Of Swift & Co,
the Chicago packers Contracts haze been let
for the installation Of eight units the capacity
q the plant thus being equal 70 that Of
the Manhattan Railway Company's plant
al Seventy-ffth-st. and the East River. Il
Is the policy OF the marlborough manage
menr, following the line Of least resistance.
10 use the power from the Fifty-ninth-st
plant for moving the West Side trains of
both the elevated and underground roads
and the power from the Seventy fourth
St, or Manhattan Railway. plant for operating
the East Side trains Of both systems, and also
the train service in the subway extension TO
Brooklyn. BY this arrangement. it is expected,
an important saving can be effected as the loss
involved in the transmission Of energy for long
distances win In large measure be avoided. The
Peterborough power plant viii be completed by
the time the subway is ready for the operation
Of trains, year from next January. Not only
VIII the eight units 10 be Installed be suffi-
Client TO produce much power will be re-
CURED for the subway service at present
planned, Il is said but the power house is to be
made sufficiently large 70 permit the installa-
ton Il four units the possi biIit Of future
flr.-~ tors sion v,-s.