New-York tribune., 1907-12-04
ASHES MAKE REALTY.
Details Of the Relations Bet5ceen
b. Il. 4. and Land company.

Details of the relations of the Brooklyn Rapid
Transit Company. the American Railway Traffic
Company and the Harway Improvement Com
pany, real estate company in which Timothy l..
Woodruff. Anthony y. Brady, George f. Dobson
and others interested. were brought out yes
terday before the Public Service Commission Will
lam NJ WINS. conducting the investigation, sought
TO show that the American Railway Traffic Com
pany filling in land owned by the IIarway com
pany under cost, and thus. while enrching the real
estate owners. damaging the Brooklyn Rapid
Transit, which the railway traffic company
Edwin W. Winter, president of both companies.
explained after the investigation that while the
railway traffic company lost money the con-
tract to haul the city's ashes, it made money
on the Harway arrangement. If in the beginning
it had dumped all the citys ashes on the Harway
fill It might almost have made profit out of
the operation. 1t is paid in stock of the Harway
Improvement Company. which is appreciatfng in
value result of the filling in of the swamp
tract.
The Transit Development Company. owned by
the Brooklyn Rapid Transit Company. acquired
the American Railway Traffic Company in the
fall of 1903. Colonel Timothy S. Williams testified
Anthony N Brady held the capital, and Sop
stock bought, leaving $4,000 in Bradys hands.
The ash contract was taken over from H. Milton
Kennedy.
Colonel Williams said his company had acquired
n certain proportion of the Harway Improvement
Company capital-how much he did not KNOWN
payment for ill of ashes Mir WINS SAID ne Iouiih
that prior to 1905 the Railway Traffic Company was
delivering ill from 10 TO 12ta cents n yaru'
Now under the contract Of last August. II IS oe-
Iivering fill the Harway company for 2'2 cents
a yard in stock of that company. Colonel WIZ
Jams did not know whether TINS actudiiS p"'u ''
handling the MI
He did not know. either, the value OF inc S"'
held by his company. though he assumed 'na' II
was worth several hundred thousand DOLLARS SINCE
the land flied in had appreciated greatly III Faiu''
He had heard that Mr. Dobson was one OF 'he
stockholders Anthony y. Brady he understood
was another and Timothy l.. Woodruff alSo' ne
never had heard that Senator McCarren was ana
did not know about Hugh J. Grant The broohlS" %
Rapid Transit's ownership of the American Rall-
way Traffic Company had not been an asset
Colonel williams said. The investment represented
about $500 GO he thought. and If the contract were
terminated would show a heavy loss
President Winter said that the Harway Improve
mont deaI was perfcctIy straight and that nothing
need he hidden The company, he believed had
about s36i 600 capital outstanding. OF whlch MS
company owned about $4,000 par. perhaps h'tle
less Its market value, he said. was around 4oo.
Mr. Woodruff and Mr.. Dobson, he always had
understood were the leading spirits In the COM
pany Anthony y. Brady was rather hea'liy III
terested He believed that Senator MeCarren. con-
trary to general report was not Ihe Railway
Traffic Company had delivered fill to many people,
charging whatever it could get. which seldom ran
above 10 cents yard. This had to be clear SOIL OF
ashes measured In the fill The Har"ay company
permitted his company at first to use paper ti1
old hat Of every sort. as wei hS son
and ashes and paid cents yard in the cars.
which made rather a profitable transaction Later
ba Objected to the quality OF the til and when ne
rrasented the complaint to his directors they re-
d,,co5 the charge to 2I5 cents yard still IN stock
of the company.
Colonel Williams explained at considerable iehs'i
.h rel,tions between the Brooklyn Rapid Transit
,d tho Transit Development Company The Tran
cir DEVELOPMENT Company furnishes power TO all
,l, oncratiug companies. makes purchases and does
SOM. coDtracting 1t saved money. Colonel Will
Jams said instead of being "a concern to AFFORD
..rakcoffs'' to insiders.
The condition and possibilities of the South Brook
Ivn Railway Company came in for considerable
dis ,ussion This company bought in lS2
colonel Williams said 100000. since 1t owned
q very valuable waterfront terminal Previously
w Ravard Cutting had spent great deal or
money ON it, with the idea of making it a connect
inp link between the Long Island steam lines and
New York and Brooklyn and the lines to New
Jersey It's terminal never had been developed
nr,perIv because of difficulty in getting a salts
factory connection with the 39th street ferry. Mr.
Ivins asked if il would not be possible TO get an
Scent fare over the ferry and the South
HrookIvn To Coney Island. Colonel Williams said
that If the city would lose two cents on the ferry
trip it might be arranged. but the transit company
could afford to carry passengers TO Gone! ISL
and for less than five cents.
The, investigation will be continued to-day. but
this will the last session for some time at least