New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-08-24
A TRACTION DEAL NEAR.
ONE ROOF FOR TWO ROADS.
Metropolitan Leases Quarters in a
Belmont Building.

An announcement which was thought in Wall
Street 70 tend to confirm the recent reports
that combination of the local traction COM
panies would soon be effected came yesterday
from the real estate market. in this form:
Douglas as R9oqsoq Rot 7 Charles Brown q Co b have
tITs ~ " sI ''M ~ ystvsecond
ao9T IN T., th t%k Row BdGE @ 2T f on 's
The Offices of the New-York city Railway
Company have long been in the Gable Building.
No. col Broadway. and II is understood that
only the legal department is to he removed 70
the new quarters in the Park Row Building
The latter structure. however. is owned princi-
pay by August Belmont, president Of the Inter
borough Street Railway Company. the execu-
tive Offices Of which are established in the Park
Row Building. four OF five floors above the Of
fees just leased 10 the Metropolitan Street Rail-
way system. A prominent Metropolitan inter
est said last night.
The legal department has for some time
been looking around for quarters, but did
not know that it had yet selected offices any
where
THAT the legal department of the MetropoIi-
tan should fee itself ar liberty 70 take extern
sive Offices in the building occupied by the In
terborouEh and owned by the chief interest in
the In;erborough signifies TO Wall Street that
Al least the relations between the two systems
are now harmonious and that they are proba-
bly, much closer than would be denoted by that
adjective. only a few months ago the Inter
borough and the Metropolitan We're in active
rivalry over the projected new subway. which
each desired To- construct. Offering inducements
for the privilege i'm Jhe way OF free transfers
but since that time there have been indca-
tions OF d clash Of interest between them.
Three or four weeks ago there began an active
upward movement in the stocks Of the Metro
poItan Street Railway and Metropolitan Securi-
ties companies on the stock Exchange. Inter-
borough at the same time advancing in the
curb market TO new high records This move
ment was accompanied by revival of the
runor often current in the last two years,
that the marlborough. which will operate the
subway road and which also controls the Man
haitian system OF elevated roads. would be
united with the Metropolitan system OF surface
lines. It was known that negotiations 70 that
end had more than once been begun and aban-
doued. and 1t persstently rumOred that
these negotiations had once more been resumed
On the question whether the marlborough was
to absorb the Metropolitan vice versa the
surruses differed. but all the reports agreed that
should a consolidation be effected the Metropol-
itau Securities Company would be used the
holding company for the Interborough Rapid
Transit Company Well as for the New-York
City Railway Company, which leases the Met
rouOIitan Street Railway Company Little has
been heard OF the consolidation report for the
last week or ten days. and the Metropolitan
issues have declined few points although they
are still at high level and IuterbOroush is
within point or two or It's record price or loo.
With an important department OF the MetrOpoI-
itau administration under the same roof with the
InterhorOUgh'S eXeCutiya department. and with
Mr. Belmont owning practically owning the
building the financial district regards it NOT
unreasonable 20 draw the Inference that negO-
tiattous for a closer II not complete union, Os
the two big systems are still IN progress. with
r1rOspcCrs Of q successful conclusion.