New-York tribune., 1905-08-06
PORT CHESTER ISSUES STATEMENT.
Railroad Reviews Proceeding to Obtain Foot
hold for Construction in The Bronx.

The New-York and Port Chester Railroad
Company succeeded in obtaining from the Com
mon Council Of Mount Vernon, AT a meeting OF
the latter on Tuesday evening. the franchise TO
pass through all streets of that city. The rail-
road company issued a new statement last week
regarding its present financial standing. and re-
viewing the history Of its fight with opposing
interests The statement emphasizes the fact
that the New-York Railroad and Development
Company is financing the Port Chester road.
and places at the Iatters disposal capital OF
$4,000. 600 for construction. the buying of real
estate, etc The expending of the money is IN
the hands Of the executive committee Of the
Port Chester Railroad Among the interests OF
the New-YOrk Railroad and Development Com
pany, and by which that company is directed
and controlled are the following: Edwin Gould,
president Of the Bowling Green Trust Company,
director of the ST. Louis. Iron Mountain and
Southern Railroad, director OF the Missouri
Pacific; Charles d. Barney & Co. bankers, OF
No. % Broad-st.; Harvey Fisk & Sons, bankers.
Of No. 81 Cedar-st.; Kean. Van Courtlandt &
Co. bankers. of No 80 Pine-st.; William c.
Sheldon, bankers, of No. . wau-st; Oakleigh
Thorne. president of the Trust Company Of
America; John w Gates. of the Louisville and
Nashville Railroad Company; Charles W. Morse.
vice-presdent of the New-Amsterdam National
Bank vice-p president OF the Fourteenth Street
Bank and vice-president of the Peoples Line:
Dave H. Morris and a. H. Morris. owners OF
Morris Park, in The Bronx. Of the Norris
Building. No. is BrOad-st, and of several build
ings in New Orleans; Harry Black, president OF
the United States Realty and Construction Com
pany, successors TO the Fuller Construction
Company c. c. Barber. president OF the Dia-
mOnd Match Company and Of the Sterling
Boiler Company; c. D. Simpson, head of the
syndicate which built the Chicago subways;
Henry T. Shoemaker, president OF the Cincin-
Hon lion md 2lf
BrOad-st.
The following legal steps which have been
taken in compliance with the law by the New
York and Port Chester Railroad Company are
summarized in the statement issued last week,
follows:
% Secured the certificate OF public convent
ence and necessity from the Railroad Commits
sion.
CD Had that certificate twice unanimously
sustained by the Court of Appeals
CD Secured from the Common Council OF
Mount Vernon the right 10 pass through all
streets
a. Secured from Common Council of New
Rochelle right 10 pass through all streets.
90 Secured an order from Supreme Court ct
\, nite Plains TO pass through Pelham, Larch-
mont. Harrison, MamarOneck Rye and Port
Chester and 10 pass and under every public
street and highway n those places.
Consent from the City OF New-YOrk is lack
ing. and application for this franchise is now
before the Board of estimate and apportion-
ment.
Terminal property has been purchased in the
Bronx, where connection WI be made with the
Interborough Rapid Transit Company.
The statement cites the fact that the charter
of the New-York. West Chester and Boston
Railroad its most active OppOser, has been pro-
nounced void by many legal authorities The
statement further says that from reliable
sources the Port Chester company has learned
that the promoters OF the westchester company
have been applying 10 banks in various cities Of
westchester County 10 aid them by subscribing
all the way from $4,000 to 100000. and have
also applied 10 small banking houses IN the
West and other parts OF the country for help.
On the other hand. the statement says that the
Port Chester interests have applied 10 other
institution interest for funds and Will not
apply. All funds for the latter company viii be
provided by interests connected with the New
York Railroad and Development Company.