New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-01-28

building high speed electric cars adapted for
subway service These cars would start from
various points running singly. At convenient
subway station they would be shunted into the
underground system and made into trains OF
five or eight cars. which would run
presses
The idea OF the traction people IN developing
such q system is that they Will abolish the ex-
pensive long haul on their surface cars. When
the connections in Westchester and other north
ern sections have been established It is not
unlikely that certain express trains Will carry
through cars for routes TO the east and west
sections beyond The Bronx.
The traction people have recently been study
ing Brooklyn traffic In connection with the tun-
nel under the East River and the Brooklyn
Subway system They say they have discov-
cred that 81 per cent Of the traffic over the
Brooklyn Bridge goes to the southwark, and
that the completion Of the tunnel Will greatly
relieve the congestion at the bridge They will
probably ask the Rapid Transit Commission 70
give them permission build a new loop,
which Will leave the present subway about
Ann-st. and curve eastward so that Brooklyn
subway trains can start on the return trip at
the Brooklyn Bridge station. The present ter
mhlal Of the Brooklyn subway is at FIatbush-
ave The merger company will ask the right to
extend this 10 the Willink entrance Of Prospect
Park. with the idea Of eventually extending il TO
Coney Island.
The marlborough METROPOLITAN Company will
start out with more money IN its treasury than
appeared on the face Of the statements given
out on Friday night
II was asserted that there would be So 900 900
paid for the preferred stock by August Belmont
& Co. and S225OO0O contributed 10 the treas
Wy under the allotment Of S67OOOOO common
stock 10 mention was made through some
oversight. that with the acquisition of the stock
Of the Metropolitan Securities 100000 in
money would pass 10 the treasury Of the m
terborough- Metropolitan OF this 100000
SA0O.OOO is a present asset of the METROPOLITAN
Securities and S7.JOOOOO viii be paid in under
the call This fund VIII be available after the
Der cent guaranteed dividend on the Metro
poditan Street Railway stock is paid
II the success of the merger was not already
assured from stock transfer point OF view
the way in which outside holders appeared at
The Morton Trust Company yesterday to deposit
stock under the agreement does assure It. There
VIII be some opposition. is shown by an ac-
ton which T. w. Myers a stakeholder in the
Metropolitan Securities Company, Instituted yes
terday- He believes that the terms offered in
the traction merger unfair, and he asks
other stockholders who believe with him to
meet with view to forming committee 10
represent the interests Of the dissatisfied stock
holders
The decision Of the independent holders Of
marlborough and other stocks as TO whether
or not they will deposit their stock is said "a
depend on the nature of the bond which they
will receive. The question which they ask is
whether the collateral trust indenture securing
these bonds will prohibit the Interborough- Met
Topsolitan Company from issuing any further
mortgages or assuming any further guarantee
No announcement has yet been made as TO the
terms Of this mortgage, but there have been
assurances that the indenture Will be good and
that the bonds which the Interborough- Metro.
politan Company will issue will be protected
IN every way This is presumed 10 mean thai
the mortgage making and guarantee power OF
the company is terminated, and the present In.
terborough stock IS TO be held without the pos.
sbinty OF impairment a 10 the security Of
these bonds
On the curb yesterday the securities OF I'll,
merger were all weaker The common stock
which lately sold high as so under variou,
names. when issued and has ruled at ri
dropped 10 54A, after opening at 81. There wer,
no dealings IN The preferred, but II was Offered
al eS12. with 91i4 bid. The bonds opened at %
Fridays closing, but fell to o. with a gIbse
quent rise 20 941z. This fall in the price OF IN,
eral weakness on the big Exchange caused b,
the break in Reading. Interborough stock
which closed at Z35 on Friday advanced to 2S'
yesterday Metropolitan Street Railway AMI
Metropolitan Securities. both Of which a re 6eaI
IN on the regular Exchange. showed gains owe
Fridays price IN the face of a generally fallinl
market The street railway shares sold up n
126. a gain OF a point, and the securities ros
from ia 10 73h.