New-York tribune., 1908-01-08
MAY STOP TRANSFERS.
F. ". Whitr1dge Begins Big Task
as Third 4renue Receiver.

One OF the hardest tasks ever undertaken by
receiver is the intrusted Frederick w. Whit
ridge. who Monday appointed temporary
receiver OF the Third Avenue Railroad The order
establishing a receivershlp in effect sesre-
cation Of the railroad company from the New
York City Railway. But the affairs of the two
companies are so interviewer. their interests are IN
many ways identical and they have USED so
much equipment in common that il will take a
tremendous amount OF labor and slilful manage
nent to accomplish actual segregation Of the
Third Avenue
Mr. WhitriGSe yesterday appointed Edward A
Maher. president OF the Union Railway Company,
as manager of the entire Third Avenue system.
The problem was taken up yesterday by Mr.
whitridge. who held long conference with Adrian
H Joline and Douglas Robinson. the federal re
ceirers Of the New York City. and Arthur H
.fasten their counsel. There is countless num-
her Of contracts. agreements and arrangements af-
fecting the two corporations which VIII have to
be examined and settled.
The abolition of the interchange of trF 7sfers is
one of the first things be taken up. as, accord
ing TO the accountants OF the New York City re-
ceivers, the Third Avenue has been operated at a
loss. and the sooner the transfers are cut on the
sooner the receipts OF both roads will increase
REPRESENTATIVES of both companies said yesterday
it would be impossible TO predict just when the
interchange transfers would be abolished but II
viii probably be not later than next week. unless
some legal obstacle is encountered
There a snap in the eye of Chairman WILCOX
of the Public Service Commission when he was
asked what attitude he would take on the abolition
of transfers between the New York City and the
Third Avenue '-They haven't done il yet have
thev7' he said NO Well will cross that
bridge when we come TO it. Have We a legal right
10 force them 20 contiue TO exchange transfers!
We will also cross that bridge when come TO it
The Io1hlfc Service Commission has received no
official notification of the appointment of separate
receiver for the Third Avenue and probably VIII
not be consulted about the transfer matter
Chairman WILCOX would not talk yesterday OF
II-.rl rlaSo nm,
IS surrnjsed that one Of the things discussed was
the possibility Of some sort of a. law 10 prevent a
public service corporation from being taken out
of the jurisdiction of the Public Service Comn1fs-
sion by throwing 1t into tne hanos OF ieoerdi Ie
cever-
Mr. whitridge has not yet formally taken charge
of the property of the Third Avenue Railroad AS
II Is already in the hands of receivers there is no
need of haste and Mr. Whitridge wants first TO or
Esnize his force. He said yesterday he did no know
5ust when he would take charge. but II will proba-
bly, be time this week
viii the road be operated entirely separate
from the New York City road?" Mr.. Whitridge was
asked. Absolutely" he replied
THAT means. Of course. that the Interchange OF
transfers between your road and the New York
city road Will be stopped. does it not?
II DO not want 10 talk about that question now
But the public seems to understand it that
way
Well. ] am glad that the public does understand
in that way. if il does
There Just suggestion that MI Nhltrloge
was expecting protest from the Public Service
Commission
There is a possibility that the Third Avenue Rail
road will cancel the agreement whereby 1t ex-
changes transfers with the Manhattan Elevated
Railroad for an additional charge of three cents
This arrangement has been a great convenience
70 the travelling public 1t is said not TO have
been profitable to the Third Avenue
II there is any reorganization Of the finances Of
-he Third Avenue the Central Trust Company. the
/. ndS and kuhO
& Co will have large part in IT The stockhold-
.rs' committee, Of which William N krener is
chairman and Edward NJ. Shepard counsel will
also have voice