New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-16
THE RIP AT A BARGAIN
OFFERED BY RICHARDS.
Port Chester Railroad Could Be Rum
ming in Year and Half.

p
Henry Lee. Of No. so Broadway. yesterday
sprang a sensation on the New-YOrk West
chester and Boston Railway Company. This Is
the company which obtained from the friends
Of the Sullivans in the Board Of Aldermen. so
far as they were able TO grant it. a permit 10
cross about sixty-eight streets and avenues in
The Bronx free OF charge Mr.. Cranitch made
1t known to the lawyers representing the New
York and Port Chester Company that ]. Tired
we'll Richards. Of the Hoadley- Cyrus Field Jud-
interests. had offered to sell him at bar
gain counter price the franchise Of the New
York westchester and Boston Company.
Mr.. Cranitch is a broker and promoter. When
seen at his Broadway office yesterday he said:
Yes It is true that J. T. Richards one Of the
men interested in the New-York. Westchester
and Boston Company. tried to sell me the fran
chise Of that company. After the negotiations
had been about closed and the deal about
tc be cnnched was misled in manner which
I cannot detail az this time. have no grievance
against Messrs. Bull Bacon and Hoadley. or the
other men interested in the Westchester and
Boston company. My grievance is solely
against Mr.. Richards Mr.. Bull is a highly
spectacle man. and his standing in the business
world in this city Is first rate. He has been de-
Ceived with reference to this Westchester and
Boston franchise. He may think he knows all
about II. but he does not Re does not know
what happened between Richards and myself.
] propose to ana enghten him on some ot
the features Of the transaction. I expect to at
tend the hearing before the Mayor on wednes-
day. and I may have something 70 say then"
Mr.. Cranitch consulted counsel yesterday with
the intention. It is said. OF contesting the validity
Of the charter Of the New-York. Westchester
and Boston Company.
1t is understood that the Port Chester road
has asked permission from the State Railroad
Commission to increase its capital to S15.O0OOO0.
BELMONT DENIES HAVING AN INTEREST.
AT the office Of August Belmont & Co. in
Nassau-st.. yesterday. it was said that Mr.. Bel
mont had no interest directly or indirectly I'm the
Port Chester company. As stated in The Trib-
uue yesterday. Mr.. Belmont bought from Will
lam r Van Pelt all the right, title and interest.
franchises and assets Of every sort OF the old
Neyv-YOrk. westchester and Boston Company.
which were sold 70 Mv. Van Pelt at foreclosure
on March .. 1881. The records I'm the County
Clerks office I'm White Plains show that Van
FeIt and his associates, Immediately after ac-
/ quiring the old Nev-Tork. Westchester and
Roston. organized a company known the Fast
River and Couuecticut Company. This company
+ never did anything. Mr.. Belmont can at any
4 time that he considers his interests r0enacsd
hegf1 an action restraining the revfvtfed New
York Westchester and Boston Company from
doing anything until # establishes the validity
. ~ its charter
President Gotshau of The Port Chester COM
I pauy SAYS that II the city gives the Westchsster
and Boston company the permit TO cross streets
in The Bronx. as asked for. the company has a
five year fight ahead Of il 10 establish the valid
ity OF lis charter.
1T has taker Us about four years 70 do that
said Mr. Gotshau. and We started with per-
fectlv clean bill Of health. This Westchester
and Boston company has existence in fact
/ Professor Charles 4. Collin made that clear be-
fore the railroad committee Of the Board Of
/ Aldermen. and his statement has not been COM
I hated by the counsel for the company"
II YOU get a permit to cross the streets named
/ in your application. how long will IL be before
YOUR cars are running" Mr.. Gotshall was asked.
/ II should say year and n half. We have OF
/ tions on a part of the route but for the most
part We would have to buy right Of way one
I hundred feet wide for n distance OF about twen-
/ ty-four miles I should say It would cost from
/ So sOOOCO 70 S3OO0OOO to do this. In cases
/ where We could not get together with the owner
/ Of the land re would give our bond and q COM
mission would adjust the price That would
not detain us a great deal. The uncertain factor.
Of course. is the possibility Of strikes
Robert T. Robinson. Of the banking firm OF
/ Dick & Robinson. OF No. 30 Brosd-st- the hnan-
4 ciaI hackers OF the Nev-York. Westchester and
Boston. in a statement issued yesterday said
among other things:
The former route Of the company rs laid out
bv the old interests then iu control VIII not
he followed The new route OF the company.
based on surveys that have just been completed.
provides for the road being construr,ed as near
the centre OF each town rs ~ feasioie
This statement provoked a lot OF discussion
among railroad men. What kind Of q charter
80 bod
1T laid down a specific route totally different
from, the one asked for oy the resurrected COM
many. What rights can the company assert
under an old charter when they utterly disre-
gard the fundamentally important features OF
that cnarter?'
ssTbe Law Department viii nave given Mayor
Mcclellan an opinion 10 the validity Of the
charter Of the New-York. Westchester and Bos-
ton Company and also with reference 20 the
CONDENSATION feature before the hearing IS
called On Wednesday afternoon" said Corpora
tion Counsel Delauy last night.
The opinion still prevails around the City Hall
that MAYOR Mcclellan will veto the resolution
on the ground that provision is made for
counpensating the city for surrendering an ease
rnent OF about sixty-eight street crossings All
the scandalOus features connected with the
tauuling Of the resurrected roads franchise
through the Board OF Aldermen at the behest OF
Little Tim Sullivan ara MS lilHeulate Aol-
lowers in the board have been brought 10 the
Nravor's attention. The Port Chester COmpanys
application was before the board for eight
months. and the united petitions OF the people
IN The Bronx were not sufficient to get the
committee TO report out the resolution When
tbA new board came IN the rip" company sent
along its application. and It went through as II
exceedingly well creased.
TRY TO BUY THE PRESS.