New-York tribune., 1908-07-08
WORKS WITHOUT PAY
THAT Is TO SAY, IN 4 WAY.
Bat Sayre Is Secretary Of the Metro
poIitan Securities

New ana startling facts concerning the hnances
OF the Central Park. North & East River Kan
road Company were brought out yesterday at d
hearing held by the Public Service Commission IL
an effort to maintain in future adequate service on
the 59th street crossrown line ana others owned Oy
that company.
Testimony By E W Sayre secretary and treas.
urer OF the company. delivered unwillingly sho"eo
that when the Metropolitan Street Railway COM
pany leased il 1882 it had Sl0s.00o in bank NO"
q hasn't even a bank account maintained reguIaIIS'
and tts books are kept by the employees OF the
Metropolitan while its officers are high ofleers o4
that company also.
The hearing yesterday continuation OF '-0'
called by the commission Immediately after Judge
lacombe had given permission 10 the receivers @ Ici
the Metropolitan TO break the cTosstoF'n company
lease to assure adequate service for the pubic on
the lines Of the Central Park Company Al lne
close OF the session Chairman WILCOX annouhceo
that Messrs. Joline and Robinson, the receivers
had assured him that they would take no prec1pl-
tate action relative TO reduction OF service owe
the leased lines and would take no action wlat-
ever until after the meeting Of the stockholders OF
the Central Park, North & East River Company
on July Il.
Mr.. sayre was the only witness YESTERDAY
though H Z Treeland, president Of the crossto"h
cornnanv was present The secretary, who also
Is secretary OF the Metropolitan Securities com
pauy. objected TO answering some OF 1ile QUesioi
asked BY Mr. Semple OF counsel Tor 1ne conlllils-
sion maintaining that he had dual of1clal eN-
tst.nce and it would not be proper for him as
secretary OF the crosstown company to tell what ne
knew as secretary Of the Metropolitan secutlues
Company. Chairman WILCOX took MIN IN hailo
and promptly ended that casuistry-
Was there anything in your subpoena IN regard
to what Won were TO be examined on he asked
NO" replied the witness, but the oounsel's first
question related 10 the Central Park road"
Yes and his fifth related TO the affairs Of the
Nerropolitan Securities Company said Mr.. Will
cox Now. suppose YOU answe- it And MI
Say-e did
What salary DO you receive for acting as secre-
tarv Of the Central Park road?" asked Mr. WILCOX
later.
Nothing" declared Mr.. Sayre
Are YOU accustomed TO giving your services that
way for nothing asked the chairman in some sur
prise
Its my privilege, if I want to do So" snapped
Ar Sayre-
.s,,rel, if YOU like" went on the chairman.
Are there any other companies Of which you act
as secretary for nothing year,
MI Sayre named some half-dozen Of the subsid-
iary companies Of the Metropolitan system, includ-
ing the Broadway Seventh avenue, the sd street,
the Second avenue and the 35th street lines.
But you get a salary as secretary Of the Metro
poitan Securities Company" asked Mr. WILCOX.
Mr.. Sayre said he did.
Under further Interrogation Mr. Sayre told Of the
slOsoD0 which the crosstown company had When II
was taken over. He said that no bank account
was kept except when the payments for rental
came in when they were deposited and checked out
10 the stockholders. He didn't know what the
Metropolitan had done about keeping up the plant
and equipment Of the company Neither could ne
see that il was especially out Of the ordinary for
the books of the leased company TO be kept by the
Metropoiran's employees, il Was II the interests
Of economy.
The hearing was adjourned for one week There
is a general expectation that AT the stockholders
meeting some arrangement Will be proposed by
which the Metropolitan renews lease on more
favorable terms, agreeing TO continue the service as
at present This is being done in the similar case
of the Central Crosstown company