New-York tribune., 1905-06-21
BELMONT IN l.. /. DEAL.
Denies Traction Company Purchase
Means Metropolitan Union.

when announcement was made. ten days ago.
of the purchase of the New-York and Long
Island Traction Company by the firm OF sander
son & Porter electrical contractors, OF this CITY,
1t was reported that one of the firms principals
in the transaction would be found to be August
Belmont president of the Interborough Rapid
Transit Company. The rumor was confirmed
yesterday when it announced that Mr
Belmont and Ralph Peters, president OF the
Long Island Railroad Company. working In con-
junction, had put through deal for the pur-
chase of the property. The New-York and Long
Island Traction Company is young company
owning about thirty miles Of double track in
Queens and Nassau counties. 1t is understood
that the consideration was about S1,oO0OO0 Tne
stock was owned principally by Cleveland men
The president of the company will be Ar
thur Turnbull, president of the New-York and
Queens Railway Company, owned by Mr.. Bel
mont Under the agreement there Will be
board of nine directors about evenly divided be-
tween the Long Island and the Interborough
interests.
The friends OF Mr.. Belmont made no conceal
ment Of their satisfaction over the completion Of
the deal yesterday, and this is believed to in
dicate that the Pennsylvania, New-Haven and
Belmont interests are working in harmony, with
the idea of developing the local traffic in Queens
and Nassau.
The directors of the reorganized New-York and
Long Island Traction Company will be as fol-
lows: August Belmont, Ralph Peters, e. P.
Bryan, David c. Green, assistant secretary of
the Long Island Company; General James Jour-
dan, of the Interborough; A. L. Langdon.
Of the Long Isand Alfred Skitt. OF the
Interborough; c. L. Addison, superntend-
ent Of the Long Island, and Arthur Turn
bull, president of the New-York and Queens
Company Mr. Belmont said yesterday for the
first time that the last named company is owned
by the Belmont interests 1t is the corporation
which tried to get through a bill at Albany last
spring rehabilitating the old Steinway tunnel
franchise Francis E. Haf will be secretary Of
the new company and Jordan j. Rollins treas
urer.
The New-York and Long Island Traction Com
pany is operating a surface overhead trolley line
between Mineola and Freeport, six and one-half
miles and it has franchise to connect Hemp
stead and Queens and Belmont Park. Another
franchise owned by the company is between
Freeport and Rockville Centre along the south
shore. distance of about four miles. An ex-
tension to woodhaven is under construction and
another TO Babylon is contracted for
The New-York and Long Island Traction
Company in itself is not important, as It's
traffic is light But its franchises will become
increasingly valuable as the Pennsylvania and
Belmont interests develop the district.
When the representatives OF the Pennsylvania
Railroad Company last appeared before the
Rapid Transit Commission they admitted that
they expected to work in harmony with some of
the Metropolitan company's tunnel plans. The
deal put through yesterday would indicate that
the Pennsylvania is willing to work I'm harmony
with the Belmont interests in Queens and
Nassau.
When Mr.. Belmont asked yesterday IL the
arrangement foreshadowed a merging Of the
Interborough with the Metropolitan interests
he said that nothing of the sort contem-
plated. He said, too that the deal did not in
any way menace the business of the Brooklyn
Rapid Transit Company.