The evening world., 1908-10-17
DEFY
TRANSFER ORDER
OF COMMISSION
Lawyers Turn Public Hearing
Into Symposium of
Protests.

While corps OF lawyers for the
Metropolitan street Railway Company
struggled to-day before the Public
Service Commission at public hearing
to prove that n restoration OF the trans
fer system would ruin the company. the
attorneys and officers OF the Belt line
railway were framing their answer to
Receiver Whitridses offer to exchange
transfers between the Third avenue
road and the Belt line, with the under
standing that each road retain the fares
1t receives.
Receiver Whitridge has not receded
from his position of defying the Public
Service Commission in its ultimatum to
compel transfers between the two roads,
nor will he yield to the Belt line in his
offer to exchange transfers on condition
that each road hold the niCkels 1t col
locts.
The Public Service Commissioners are
determined that their order shall go
into effect, but no move will he made
until the answer OF the Relt line officials
Is received. That answer must he given
to the Commission by 1870 O'Clock
Monday morning.
May Take Wrangle to Court.
Messrs. Thompson q Vanderpoel, of
No. Wall street, attorneys for the
i'elt line, to-day We're in consultation
with General Manager George w
Linch and other officials of the COM
pany, constructing their answers to the
commissions order and to Receiver
Whitridge's offer 1t is regarded as
inevitable that if Receiver Whitridge
does not recede from his attitude the
whole transfer controversy will be
taken into the courts.
Receiver Whitridge said to-day:
Il have nothing to add to my offer
of yesterday. l have heard nothing
from the Belt line regarding It,"
General Manager Liuch nor any other
official would discuss their side of the
controversy
When the hearing before the Public
service Board was resumed to-day, all
| he commissioners were present to heal
| testimony OF the Metropolitan Railway
Company's witnesses.
The hearing developed that the bond
holders Of the Metropolitan Company
object to the order OF the Commission
| regarding transfers on the ground that
a return to the system would practically
mean contiscation of the railroad.
| This was shown when a retinue of
lawyers arose individually to address
the Commission. demanding to be re-
corded as protesting in the interests of
their clients the bundholderS
#tIt.
..ne and tie Guaranty Trust Company
SIDED with the action of tie lawyers
lie said:
The Belt line offers no objection to
s.:e protests"
6ondnoiders Fear Less Profits.
Brainard Tolles. of the Guaranty
LII. J-:.!, as uust,e vi the general and
So..u;l:=! i"Gs, H.Ci' g Se, said:
Il nder present operation the bond
@3.-s.S - :tS2.NIne 40 interest. They
.."e s,-t4s:.@l that the result of YOU"
c":e" VII re TO diminish the present
mated earnings ana ultimately deprive
IS o. Olc property"
"Taat Is ~, the question we are try
Wilcox. We are trying to aetermina
:: JOINT rate can he entered into with
OUT diminishing earnings,
we object ana declare that the Com
mission has not the constitutional power
TO enforce transfer ORDER said Mr..
Tolles. such an act would be contrary
10 the poiloy OF the state regarding
fares and transfers"
Bronson Winthrop. representing the
Morton Trust Company, trustee OF the
retundins mortgage, William Green
auGh, representing the refundiug mort
gage hOndhOiucIs committee, controlling
81, .G2, 90 of the Sl6OOO.OO bonds and sew
eral other lawyers spoke in opposition.
Chairman WILCOX declared that, as the
hearing concerned only the receivers,
the, representatives OF the bondhoiders
had no standing before the Commits
sion.
Lawyer Robert c. Beatty. for the re-
ceivcrs. declared that ne know of no law
.forbiddinG owners Of property from being
heard before the body threa' ening their
property.