New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-10-17
MAKESTRANSFER'0FFER
PROPOSAL BY WHITRIDGE.
Receiver Willing to Gire Scheme SIR
Months T'rid!.

Frederick ". Whitrdge. receiver of the Ihlro
Avenue Railroad Company, came forward yester-
day with a proposition to the Central Park Not'n
& East River Railroad Company for an exchange
Of transfers between the lines Of the two com
panies each road to keep the fares collected on
it's lines and to honor transfers from the lines OF
the other road the arrangement to be for SIX
months to enable the roads to find out whether II
would be profitable Mr.. Whtridge makes II
condition of his offer that the Central Park COM
pany will not exchange transfers with the Metro
politan.
Incidentally. Mr.. Whitridge sent letter TO the
Public Service Commission. in which he says
frankly that he will be obliged 10 the commas
sion If It induce the Central Park company 10
accept his proposition. but denies that II has any
right to order through routes and joint rates or to
restore universal transfers.
Both Mr. Whitridge and the Central Park COM
pany have until next Monday to satisfy the corr
missions order or TO show cause why that body
should not make a joint rate. in lieu OF the TWO
interested parties failing to do SO.
In his letter the board of directors of the Cen
trail Park company Mr. Whitridge says:
assume the Durpofe Of the eGm mn in seek 6
the public. and is not intended to he step toward
the restoration of universal transfers but only 10
With the MetronoIitar This offer is therefore. CON
dtioned upon the aba9donment Or othsr disposition
msson 70 compel you to transfer ~ the Metre t6e
agreement herein proposed shall be made
The Third Avenue receiver. who IS not backward
about expressing his views TO what the com
mission do and cannot do. in inclosing a copy
of his letter the Central Park directors said:
The conditions I think. speak for themselves; I
hope YOU will consider them ~easC. able. The main
thing to he considered in any suc1 arrangement IS
whether II is commercially possible l think no
body. except possible experts would dare
say exactly what the effect of such an arrange
ment would be. and because I anxious to find
out and think that it will probably be for the ben
eft of tho Third Avenue road. am willing to make
a experimental arrangement.
Mr. Whitri1ee further points out where the com
mission may be of service to him by clearing the
minds ''of people who discuss this subject of all the
cant about over-captaizatior, inflated securities,
water, etc, because all OF the receipts from the
Third Avenue properties and 100000 besides are
being expended upon them
As TO the commissions power to restore transfers
he says: IF you undertake to establish a joint
rate and through routes for passengers, as YOU
propose, I bound TO say that deny your right
to do anything of the sort" He follows this up by
giving notice that he will challenge the commits
son's right to anything of the sort. This leaves
the situation with Mr.. Whitridge willing to make
a transfer arrangement his own terms, but not
in compliance with the order of the commission II
the Central Park company accepts the offer ii VIII
he from SirO D7OT