New-York tribune., 1908-03-07
VREELAND A DUMMY"
Although Director, Docs Not O1rn
4nv \. Y. &. RaiI1cay Stock.

IN the suit 10 revoke the charter OF the New
York City Railway Company before Justice DAVIS
in the Supreme Court. Attorney General jackson :
renresen+ative Herbert r l.imburg. came step
nearer yesterday getting in the testimony OF n II
vreeland, given before the grand jury when ne
was president Of the company, part OF the evil
dence in the present suit. Paul D Cravath, of
counsel for the railway company. has been fight
inC this point strenupusly, but Mr. LImbUrE sue
cecded in getting Justice Davis to send for the
minutes for personal inspection If the Justice ne
leves that they pertinent to the case, ne salo
that he would admit them. Justice Davis's hesi-
fancy is believed the statement Of Dis
trict Attorney Jerome when on the stand Nednes-
day that the Vreeand testimony before the grand
jury did not have anything to do with the matters
in the present suit In the arguments Mr- Cravatb
admitted that although Sfr- TreeIsnd di-
rector he stockholder-
Mr.. Li11burg succeeded yesterday IN getting in
definite figures bearing upon his contention
garding the soIvency OF the company. Mr.. Cravath
reluctantly agreed 10 the admission Of the follow
ing evidence:
Suits pending for statutory damages since 1904.
1888 al so each. actions pending for damages
account of negligence since 1907. 2n03 In the
latter period as brought out earlier in the suit
the company paid s7.1S,Coo in damages and counsel
fees. On June 80. 1906 there outstanding IA
judgments. aggregating S249 493 s.
Then Mr LiTnburg succeeded in getting H ".
Brown. the general auditor. admit that what
he meant by current in his affidavit before
Justice Seabury when lighting the appointment of
receivers for the company by the state court was
cash. or item that could be converted into
CASH It amounted 81. coo 600 made up Of
Cash deposit pay coupons .--.-.. 81 I5s s0s -
stocks ano bonds OF other companies ss5s 81 .
accrued dividends stock owned $50 .
MISCELLANEOUS interest accrued -----------. 2037 >"
Due from Metropolitan Securities Company es7s0o 0o
Sundry
Material and supplies $50 2S1 50
Mr.. Brown Offset this list Of assets for the same
date with list Of liabilities of 81 81. 1s4 e3. Mr.
Brown asserted that the company had June 80,
1906. a substantial excess of S5.0o0et0 in assets
above the liabilities The Attorney Generals rep
resentatve contends that the assets are in the
main what M7- Cravath admitted in other in
stances 10 be fact, bookkeeping assets and that
the deficiency extremely large.
consulting engineer. Perry R MacNeiIIe gave
evidence regarding the condition OF the supplies
held by the company saying that most OF them
were nothing more than junk 1t this point
that Mr.. LiIlburg began 10 fight information
sarding Mr. Vreeland's relation the company.
Mr.. Cravath practically made the concession that
Mr. Vreeiand only dummy director in the
railway company and IN the Metropolitan Securities
Company. This when he opposing the
admission OF Mr.. Ereeland's testimony given be
fore the grand jury. MI Cravath said
''Mr. Vreeland is not stockholder in the com
pany. Every share OF stock is owned by the Met
ropolitan Securities Company. Mr. vreeIand does
not a share. He did not have TO be a stock
holder 10 be director. but he not a stock
holder his testimony cannot be called into ques-
ton"