New-York tribune., 1905-01-05
NEW-H4TEN ROAD BUYER.
Gets Ne7c-Ycrk to Stamford Flee
tric Line for 81 100000.

The sale Of the New-York and Stamford Electric
Railroad to the New-YoTk, New-Haven and Hart
ford Railroad Company for 8, 100000 was confirmed
last night The negotiations We're closed and the
agreements signed on January !, and the actual
transfer Of the property will take place to-day
New-Haven. when the directors of the trolley road
will hand in 5000 shares Of stock and receive $125
q share for them in per cent guaranteed gold
Connecticut Traction Company is the controlling
company Of all electric lines Of the New-Haven
Railroad and the fourth vice-president of the
pany is the president OF all the trolley lines
Among the heavy stockholders Of the New-York
and Stamford Railroad are Colonel w. n. Hefft. of
Bridgeport; William L. Ward. OF Port Chester;
r. J. Walsh of Greenwich. and Charles A Conger.
William Murray and William II Campbell OF
Larchmont. The original hor5ecar line was capi-
tailed for $2jt99. When the road was extended
and made an electric line the capital stock was
increased TO $4,000 Charles A Singer, who was
president Of the road when it horsecar line,
is president Of the New-York and Stamford Com
pany and it is reported Will be continued in that
Office by the New-York. New-Haven and Hart
ford company. The purchase, il IS said, was made
10 shut out competition. With the NewYork and
Stamford road in its possession, it was said last
night that the NewHaven Railroad could block
any further extensions in its territory and also pre-
vent the Metropolitan Express Company from cut
ting into its express busiIess
II viii also prevent the New York and Port Ches-
ling ;Ee New-fIaven from New-York TO Port
Chester. is said. at least, make such an un-
dertaklug dirncult II is announced that the New
Haven company Will make big improvements and
endeavor TO increase the trolley traffic. 1t is said
to be the plan of he company to make Rye Beach
"a biz summer resort and to extend the road TO
White Plains and TO New-Rochele-
AT the latter place the trolley road will connect
with the Harlem River branch OF the New-Haven
company. which is to be turned into four
track rapid transit system The $4,000 just PAID
out by the New Haven company Is said 10 be the
price OF the carelessness of some of its officers
few years ago According a story which has
been in circulation III railroad circles Colonel Hefft
was the prime mover In the Larchmont horsecar
line when IL made an electric line, and eX-
tended from Larchmont to Connecticut. Hef1t was
AT the same time the general superintendent Of the
electric lines OF the New-Haven company. He
worked hard for three years extending the trolley
road When he got through he did not see the
necessity Of turning the road over to the New
Haven company. Colonel Hefft subsequently re-
signed. Ever since that time the New-Hayen
company. realizing that the property might be-
come troublesome if acquired by rival lines. has
been trying TO get possession Of It. The affair is
said have worried the late President Hall so
much that led TO his resignation. Other high Of
frfals il is said. in for blame because they
failed in their negotiations with Colonel Heft to
bind MIN to any amount TO turn the trolley
road 20 the company after it was completed