New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-02-20
RAID on METROPOLITAN.
RIMORS OFURONG DOING
Thar Reputed Origin - Official
Demak Made.

D6HlGS Made.
Ruu7o-s OF Impending disclosures which would
s~ec, adversely the Metropolitan Street Rail
Nay Company have baen current in Wall Street
to- several weeks. hut until two or three days
$50 verc =, vague as TO attract little attention.
Sirce Monday. however, report that de-
<slcstfon amounting 70 millions had been SUI
~--od hv The Metropolitan company has heen in
=--,,e circulation. and yesterday morning what
APPEARED 70 be a concerted bear attack upon the
Metropolitan Street Railway Company and the
Metropolitan Securities Company was delivered
f- TIE stock rrarke-. under cover Of the defalca-
--o- report ~ which cther rumors were later
- added TIE shares 81 both companies sold
soz-- sharply. TIE entire list declining in sym
rs-h> The principal decline occurred between
z-6 o'c5ook- hur toward the end Of trading a
- r,- came xhiCn brought Metropolitan Up from
81 - 49,. ~ the close rat loss OF Is points
z-6 Metropolitan Securities from llIi1 10 liz, a
- los . - points
T-7c~l-ls- ae-izls q rh~ r-17-o- - defaication
wee v----,r-rv made by Metropolitan interests,
SIS re-e- 81 re DAY ore % the attorneys Of the
.--2o-s-,7- issued the following official state
--s--
-~e-e Azz been 70 6efalcaJion II the Metro
---.,.s~ St-esc Railway COMPANY The stories
trs- Suee : -hs case have been circu-ats loI
- purpose O. settling. for price several SUITS
---aS- minors have been IN circulation for me
--s- -1-ee months and The only reason that they
--,-e = -s--1~ attracted attention Is that there
- @e-- associated with them the name OF Dis
--+-- Attorney Jerome. which name has oeen
brought i1-o the business by the Parties pro
noting he civil litigation
charles Z Warren. secretary and treasurer
srs one o. the directors q the company. yes'er-
~ sr-e-~o7- said Of the rurno- that there had
f--- shortage o. 6etsIcationE
THIS : : malicious lie. made out ot whole
- ~ :
r'e e. re starting q The Tur1oT ana VIII pros
e-us- rs author q i = ~ can learn VINO Il
/ = L. 6-C ao>ollts-H "i---u-- AK s-7
Ees--C- - : foundation
ORE q the partners IT leading banking
house znich has close relations with Netropon-
- interests stated thai he had made an lnNeS-
.f-z-io- into he reports circulated recently. and
= e -eSu.- - this investigation felt convinced
--z- -r-- were without foundation one o.
--es. -=ro--s vas 10 the effect that certain in
-.-=s-S in rb- Metropolitan Street Railway Com
-17r had been guilty O. gross irregularities IN
- financial management OF the corporation.
nf-t-so- Attorney Jerome late yesterday after
--rn addicted . report that . shareholder OF
-1~ Metropolitan had laid with him infor'na-
,so- r-Ez-5srr = detalcarion in Jhe company.
NJ Jerome said h lad received no complaint
whatever affecting he Matropolitar When
esre5 = h had any connection with the matter
= al h said he would neither affirm nor deny
that - rad any interest in the matter, and
then ADDED. Ny name may have been used
fer STOCK 5obaing purposes
r-7--+~4nt corporation lawyer Vas ~ Nj
.1era--e.s ofHce yesterday TO consult With him
,sror some subject but the District Attorney
sid rh= lawyers visit had no relation 10 the
,-7orcs affecting the Metropolitan.
A. -ha tI-7a n the formation, about year
zro NJ the Metropolitan Securities Company
which took over the stock Of The Interurban
Street Railway Company, TO which corporation
tn Metropolitan Street Railway Company was
leased i viii be remembered, series Of SUITS
v-7re brought by stockholders with the purpose
~ preventing the leasing Of the Metropolitan 10
raa Interurban Street Railway Company. One
sc -hlsa actions was brought by Harry and
Weller Content. partners in Il. Content 4 Co.
md another ny Isidor Wornser, IT. Of the stock
Exchange firm q I. & :. WOrnseT. temporary
taiGnctfors being obtained, which we're dissolved
On April q 1902 by Justice GildersleeVe, VINO
also denied the application Of these complain
ants 10 continue the temporary injuncuons CD
tanned Icy them pending the trial OF the actions.
Both Of these petitions contained allegations OF
fraud and on April Is similar bill was fled
- behalf 9f Emma ". 2. Page. Of Pennsylvania,
p shareholder in the Metropolitan Street Rail
va COMPANY praying that the lease OF that
company 70 the Interurban company which had
been meanwhile executed should be declared
void.
Asked yesterday afternoon regarding the
statement ley the coHpany's attorney that the
-1irors Of defalcation Of irregularities by in
sidersr IN the financial management OF the cor
T,oratior had been circulated for the purpose Of
settling. for price. certain suits against the
company. 4 member Of the firm OF Anderson,
Ten5ieton & Anderson attorneys for Mr.. Worm
SCI Mrs. Page and James y. X. Cutting, of
Taylor. Cutting & Co. in their three several
suits against the Metropolitan. said:
We desire 10 say that no charge of misap-
Dripriation OF funds a defalcation has been
made 10y office OF any Of our clients, either
directly indirectly We not seeking any
settlements Of these suits Our position is that
consequence Of the lease the Metropolitan
Securities Company VIII receive profits which
should 20 10 the Metropolitan Street Railway
t'oupany's stockholders, and propose to fight
that question out in the courts.
The openion rather widely expressed in
he financial district yesterday that the raid
the Metropolitan issues might be found TO have
is origin far from the office OF a we'll
known operator whose relations with prominent
Metropolitan interests have for the last few
Years been not entirely cordial friendly
STANFORD UNIVERSITY BILL PASSED.
Sacramento cal. Feb. le.-The Assembly bill