New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-10-19
ANOTHER TRANSIT SUIT
metropolitan Directors to Bring
1ctiOn to RecOUer 5000, 900.

7,ho hoard or directors Of the Metropolitan Sc
cu,tties Company yesterday authorized acuon AZ
law to enforce the companys rights as 10 l'e pay
ment of $500 600 to Anthony y. Brady TOT the wan
/ and Cortandt Street Ferries halfway Coli'p"i'
his ''paper railroad" Suit will be brought Tot inc
recovery of this money though just what torrp
the action will take has not yet been dec'deu'
Wallace Butler & Brown have been retained for
the company. a list Of defendants has been com
piled including Anthony ~ Brady p A b. WI
dener Thomas DoIan Thomas r. Ryan. and Louise
T. EllSins John c. Johnson and George W. Elkihs'
as executors of the estate of W. l. EIklnS; Grant
b. Schley, Henry p. Chiffon and W. H. Dcke'-
man individually and members of the firm OF
Moore & Schley and Harry Payne whitney as
executor OF the estate OF William {. Whitney
Summonses have been served on some OF the de-
PENDANTS William J. Wallace, formerly United
States Circuit Judge IS in charge OF the &C
ton He went away yesterday for weeks shoot
ing nothing Will be done toward drawing
complaint in the suit until he returns
Frederick NJ. Brown. his partner, said last even
ing that the precise form of the suit was some
what indefinite yet, because the action, In a
sense. probing after Information
I'VE have named as defendants" said ne. all
who have appeared in the testimony as Fronting
In any way from the transaction. II Is alto
gether unlikely that this action which Will be
brought in tie state courts, Will be affected by
any other similar action or be Joined or consoh-
dated with any other suit"
Daniel W. Burrows. of Chicago already has a
suit brought through .Coudert Brothers. for the
recovery of the 1856 900 In which he named dc
PENDANTS the entire board OF directors OF the
Metropolitan Securities Company, well as the
others named IN the Securities Company's action.
The two suits will be fought out separately. 1t
was declared yesterday that the action OF the
Securities Company. though made public subse-
quent TO the Burrows suit. begun before IT,,
since the whole subject referred 10 ex-Judge
Wallace immediately after Mr.. Brady's testimony
revealed the transaction
Nevertheless, some skeptIcs In the financial dis
trict. when they heard OF the suit. ventured the
opinion that this action quite friendly as
the recevershp for the Metropolitan Street RAIL
way Company and the New York City Railway
Company. They pointed that ex-Judge Wal
lace's firm had for members men formerly con-
nected with Adrian II. J0lines firm and that the
two firms occupied offices together. Some
declared that the directors Of the Metropolitan
Securities Company would be likely to do little
antagonistc 10 the interests Of Thomas f. Ryan.
II he has to large extent withdrawn from
the street railway companies. The directors are
Herbert II. Vreeland Frank S. Cannon. Richard
". Meade Oren Root. tr., Edward w. Sayre and
Charles +. Warren.
on the other hand, 1t was asserted with con-
hdence by close TO the marlborough Metro
potan Company that this suit was brought in
earnest, for tho actual recovery of the money di-
verted to dubious uses. and that this suit marked
the beginning of a policy by which tho Inter
ACKNOWLEDGEMENTS Company intended TO force
its subsidiary component companies to clean
house whenever any such transactions appeared
The action, these on. was a part of the
general campaign which would end In the elimna-
ton Of Thomas +. Ryan from the traction field
in this city.
Wall Street heard yesterday that Thomas r.
Ryan had agreed 20 withdraw from the Inter
ACKNOWLEDGEMENTS voting trust and that Theo-
dOre p. ShOnts. who in the past has been con
sIdered "Ryan's man" had had long talk with
August Belmont and had agreed to support him
in his general policy of reorganization and Ryan
elimination.