davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1908-04-07
psyLRoAD ACCOUNTS.
...,r;ties Held by Corporations and
by the Public.

,--.h,,eton. April GA special report just issued
80. T,.crstste Commerce Commission gives !.
g - ;it,stration Of the manner in which tb.
n'N-. generations. once independent nave de-
$50 into highly centralized systems The re-
Ne.f 81, -est,it of investigation made in con
P@- Nth the establishment OF a uniform xys
IL. :. accounts which the commission is emnou,
'e, .s 20 prescribe ono of its principal purposes
60 GO =, oor,pile information that could be used g.,
icing The proper form OF a standard hslar.
sheet- ..-..-, .
-. tbe report show the relationship of raslroadv
-. another. The relationship of various bo,d
- .,,-,panies 10 the railroads also is clearl,
rtt out. One Of the principal uses os the re-
oIo1s III be TO furnish information. heretofore nm
p'.. p..hle to the public Congress. the courts an,
- 1rterstste Commerce Commission. It makes
s5;, for the first time the amount of security
f.,,sing in the hands Of the public
rs. statistical tables show that out OF more than
., enanea Of outstanding securities $500 900 ooo
: held ty railway corporations. leaving in the
- If the public about S7,Soa o0o,0 coo OF f,,rdaa
. ard - 47e1esocoO Of stocks.
New-York tribune., 1908-04-07
EUROPEAN PRODUCE MARKET.

liverpool April 6.-Closing wHEAT-Spot dun;
No red Western. winter. IS I'D futures steadx May
IS lI94 d: July, Y d; September, as i4d CottN
Spot quiet prime mixed American new os - d
prime mixed American old, I'd; futures quiet; May
Is . Id PEAS-Canadian steady, "a sd. FLOUR
winter patents. quiet 29s Sd HoPS,rIln, LONDON
fPacifc COAST. dull 1OsMf2 SIS BEEF-EXtra
India mess strong 9fs Cd PoRK-Prme mess West
ern steady 72s Cd HAMS-Short cut, - TO 10 ID
strong, 44s. BACON-Cumberland cut, 20 to 80 10
strong. 43s short rib 16 to "a 10. strong as ong
m light. rs 81 h. strong. 4os I'd; long
clear middles heavy. 30 so ID, strong AIS: short
iG to 20 lb. strong, AS; clear beles
o 10, firm. 43s. SHOULDERS-square IL to -
ID. firm SIS Cd LARD--Prime Western, in tierces
steady As; American refined, in pals firm. 4s BY t
TER-Good United States, dull SOS q SOS CHEESE
white, firm, 6s;N American hnest col
ored stesdy, 62s Sd; Canadian finest white STEADY
Cd Canadian finest coored, steady 65s Cd IA L.
LOW--Prime city, dull 2;s Sd. TURPENTlN E-Spir-
its. weak Sd ROSIN-CommOn steady, 3s fsd
Observation-Disclosures quiet, 6ad. LINsEED OIL
=
New-York tribune., 1908-04-07
CHICAGO GRAIN AND PROVISIONS.

,CIicaso: April e-Wheat prices on the local ex-
ttIaIlee made new low records for the crop to-day
ecause OF reported rains in the Southwest At
e, o,e ciose the May delivery showed net loss OF
-, Corn was down &c. Oats &c lower.
tUs U, isions We're unchanged to 21sc higher.
Inc wheat market weak all day RepOrts
% more ram in Kansas were largely responsible for
'Ie weakness, although the market was also de-
Pieseu py lower cables favorable weather farm
Noih IN the Northwest, a slack demand for cash
wheat ana an increase Of I'll 600 bushels in the
nIsroie supply, instead of an expected decrease.
6u leaders failed TO support the market the prin-
cIpai demand coming chiefly from shorts. The close
was weak May opened 1sc to 1lc lower to n shade
Sher at SS3sc to 92ssc sold off to 90c and closed
at s01ac TO a0tsc. Clearances Of wheat and -four
were equal TO 800 bushels The amount on
New-York tribune., 1908-04-07
BUSINESS TROUBLES.

,,.,ifars in bankruptcy were fled Yesterday in
-, rated states District Court as follows.
,-rountary AGAINST Irving Cohen cloak and s,,it
L.. No . University Place by IL Fish A. GO
&c 5 or,srs with cla inns OF S64o o5. ~
so sI-,ej,ntary against Albert y. Ehr1ich maker of
,-,ers shirt waists at No. Is1 Mercer street h,,
- II 3 Cls1iin cOslpany and others, with claims
- chanGise furnished amounting TO So 03S Sc:
,s-r,is1o T. Allen appointed receiver
htoII,ntsry. Bernard DAILY, liquor dealer at No 554
New-York tribune., 1908-04-07

| COOK-Swedish girl. very good cook
and baker; can take entire charge OF
! kitchen: competent: pleasant lisposi-
| tion: wages $50. Osterbergs Bureau
T16 Lexington ave. Tel. 1055-Plaza
New-York tribune., 1908-04-07

| COOK. CHAMBERMAID and WAIT
! RESS.-By two nice Swedish girls;
! competent and willing. excellent refer
| ences Osterberg's Bureau. T15 1exlng-
| ton ave Tel. 10j5-Plaza-
New-York tribune., 1908-04-07

coOK-wAITRESS.- two French girls
together or separate; one as first class
cook: other as waitress: best city refer
ences Care OF Miss O'Keefe. 2iS East
18th st
New-York tribune., 1908-04-07

IADYS MAID.-By German-American
Protestant. as maid 70 lady; or grown
children; neat sewer; country preferred:
GOOD personal reference. Miss AdlOn.' 1S3
East I15Lh 81.
New-York tribune., 1908-04-07

COoK.-Competent. Swedish; has best Of
references from New York families;
wages $50: with kitchenmaid or alone;
good manager Jussila Bureau, $50 Lex
ington ave.
New-York tribune., 1908-04-07
HELP WANTED.
ycrna.e-

rsNEASSEES wanted IN al cities % the
mites States women and men. good
selling waterproof shoe soles- preventing
s--a,l5rr cf feet ard rheumatism. apply
C. Iavots 20sG - ave.
New-York tribune., 1908-04-07

IADY'S MAID - French; experienced
seanlstress, hairdresser: willing TO maas
herself useful. country preferred. city ref
erences Maid, 269 West 18th ST
New-York tribune., 1908-04-07
RTsNE>S CHANCES.

WOULD Llhs i,r,n = rH->wM meta OF some some con
-,-is he willing 10 merge their business
- : similar trade: capital furnished "a
p----=Se zcar output McDonal ld-NisEins
= a5T Erasdus sy-
New-York tribune., 1908-04-07

NURSE or light houseworlS by young girl:
EMPLOYERS reference desired Call after
10 a m. Hofmayers Bureau. 153 Wes1
23d st
New-York tribune., 1908-04-07
MISCELLANEOUS.

->--TPNATTO%A Al Mems Choral Society
g. 4 RandeEger. director: meetings
-1.r-rsGavs S-.}o 2 "a. lo4 Last 2uth ST /,
---s-F-r. ,-a-7s-iclious voice nor experience
7---7-=l-,-5. er7-'- To director
New-York tribune., 1908-04-07
DOMESTIC SITUATIONS WANTED.
Een1alA

NJ -PSE to invalid lady or gentleman. hos
pitaI experience. doctors and patients
references. willing TO 20 70 country 81
CIarksOn St
New-York tribune., 1908-04-07

1-.TT-ARI.E PATENT Tor sale: thief-proor
,,a,tsrbook: price, S::.5o0; worth S16.o0o
,--7v . cDonsld-Niggins Co, @51
Roadway
New-York tribune., 1908-04-07

I.ABY's MAID and sEAMsTRESs--By
very nice pleasant Swedish girl; re-
riabIa competent obliging; excellent rec
ommtndati0ns; wages So Osterberg's
T1reau ZIG Lexington ave. Tel 1885
Plaza.
New-York tribune., 1908-01-18
sUniisted.
Closing prices Of active bonds dealt in. with
STOCK MARKET OPERATIONS.

Weakness characterized the stock market yes
terday during the early part of the session, Civ
ing place in the afternoon to strength. The
morning decline chiefly due to heavy bear
selling. with ArnaIgamated Copper and Amer
lean Smelling and Refining common the espe-
cial points of attack the reduction In the
formers dividend and on the alleged sacrf-
fee Of stock of the latter by holders interested
in the Smelters Securities preferred B stock
syndicate BY noon, however, the bear attack
had snent its force and the improving money
conditions began to have their natural influence
in steadying sentiment and encouraging renewed
operations for the rise. The bank statement
to-day should show further material gain in
surplus reserve, if reliance may be placed on
the preliminary estimate Of an increase of al
81, 600, 900 in cash, OF which about $4,000
COO has come from the interior.
With money pouring into this centre in such
volume 1t is not surprising that rates for time
loans are rapidly becoming easier Yesterday
the offerings of time funds were large, at rates
ranging from 5A per cent for sixty and ninety
days, 10 81. for four to six months; but borrow
crs were not eager to close at those figures and
one six months loan of fair size reported
made at ) per cent good mixed collateral
call money also was increa singly easy, the max
inum rate. ga per cent, being lower than here
tofore since the panic began.
on the afternoon recovery Northern Pacific
was the leader rising from 125Aa, the low of the
day, 10 1291, and retaining most of its gain at
the close. It's advance during the last few days
is attributed TO enforced covering by the large
short interest. A report from Albany. subse-
quently denied, that Mr. Morgan had acquired
from Thomas F. Ryan the stock control of the
Equitable Life Assurance Society was bullishiy
viewed On the other hand, the continued weak
ness in the first mortgage bonds of the Wabash
Pittsburg Terminal Railway tended to unsettle
confidence, being regarded as indicative of re-
organization for that property and suggestive
Of period of stress for railroads in general
The foreign commerce statement for Decem-
ber. issued yesterday from Washington, pre-
sents some record breaking figures. Exports of
merchandise for the month. S207,179,436 were
the largest on record, and were nearly $1,000
0O0 in excess of the total for December, 1905.
Imports of merchandise were only s92,2S8 900,
the smallest total since August, 1905 and the
smallest December total for four years. The
excess Of exports over imports was $105, 200,
the largest for any month record.
New-York tribune., 1908-01-18
MONEY AND EXCHANGE.

MONEY MARKET.-Money on call opened at 3&
per highest, 354 cent; lowest, "a cent
closing. per cent last loan, 234 cent; ruling
rate 3&t per cent Time money was offered with
lberality at 5A per cent yesterday for all dates
from sixty days six months, but there only
2 moderate business. borrowers again preferring to
wait for lower rates. Some loans were made i
per cent basis, but these not numerous.
Mercantile paper offered quite freely, with
moderate resultant trade Buyers still insisted
rather higher rates when compared with time
money loans. Rates, to Z per cent for sixty and
ninety day Endorsements. well for choice
four TO six months single names.
FOREIGN EXCHANGE foreign exchange
rra rlet opened strong at advance of about 12c
in sterling. rates over Thursdays ruling figures.
Cables were quoted 4. .S69Nd4S7 demand sterling
Gs2n0t $50 anI siXty-Gay bills at 482G483< Short
francs were 517la and short reichsmarks 9,1t.
There was a marked scarcity of offerings during
the first hour. The market continued strong IN
the day and made a further advance Of about 1ac
from the opening Quotations. In the afternoon
ca bIes quoted at 4-s1H4-511n. demand sterling
At s645d4 sf2 and sxtyday bills at 4.S21zq4 $3.50
Short francs rose to 5.17'2 plus 1-32 and short
reicfsmarks 10 "a ISIS. The supply OF bills
light few commercial bills being offered.
Bankers posted rates were follows:
New-York tribune., 1908-01-18
OUTSIDE SECURITIES.

After quiet and irregular opening the marke.
FOR outside securities developed renewed strength
and activity and in many cases prices reached the
highest OF the present movement. The copper
stocks continued 10 lead, with the faVorites IN
heavy demand at advancing quotations. The in
dustrials moved up in sympathy but on a light
volume OF dealings Butte Coalition rose nearly
points, Greene-Cananea advanced 112 and Greene
Cioid-SilVer. common and preferred a fraction
Nevada Consolidated after early break of -
up point Boston Copper improved "a United
Copper a and Butte-New York a. Nevada-Ttah
after loss Of =. regained the fraction North
Butte up points Dominion Copper Micmac
ana many Of the low priced issues were decidedly
iTmer. <ipssng and Consolidated Arizona Smeit-
HE hcaV!. GoIdneld stocks were slightly
higher. American Tobacco up { points. Stand
ard o Was slightly easier Chicago subway fcIl
1&s. IH bonds Adams Express IS improved ;, and
Consolidate ted Steamship Is =
New-York tribune., 1908-01-18
TOPICS OF THE STREET.

FOREIGN TRADE---Probably about n0oo shsr--
Of various stocks were bought on balance for Lon
don account. tho sales being chiefly OF the copper
issues and the purchases of the United states Steel
stocks. American stocks in London wera weak
during the early trading. but showed rather betts-
support in the afternoon The general market Tss
inactive and depressed and Consols were heavy.
MOVEMENTS OF CURRENCT.-Th- reported
movements of currency this week indicate a gan
in cash held by the banks Of S10.9T5.2o0- The
the interior s. 55S 400. OF which there was
transferred through the SUb-Treasury S115,9os 70
PhiIadephfa and S12.7G9 TO San Francisco. The
gain from the interior was Ss.s5s.4e0-
DIVIDENDS DECLARED.-Th4 directors II ths
Twin City Rapid Transit Company have declared
the regular quarterly dividend Of IL Der cent on
the common stock. payable on February 15 Ir
directors of Lord & Taylor have declared the rsga
lar quarterly dividend OF per cent on the connoH
stock. payable February l. The directors Of ths
Pacific Bank have declared the regular qUartsry
dividend of per cent and an extra dividend Of {!
per cent. payable February l.
GRAIN EXPORTS FOR THE wEEK-"Brad.
streets" reports the exports Of grain for the week
with comparisons, figures bushels follows
Wheat. -four included. 5,412-s67. against s.S04@7s
last week. 2.s36.460 in this week last year. ana
4S9n,202 in 1892. for the fiscal year 10 dare 1SL4
1S7 266,6S6 in 1901-'02. Corn. goo 250. contrasrs
with I,111s74 last week and aoS s1S IN 1se7. 1uT
the fiscal year to date 26959 IS against 2s.oos1+
in 1906-07.
r. B. SMITH A DIRECTOR-EdvsrG Z Sunitnl
OF Edward b smith & Co. has been elected dfrsc
which controls the United Railroads o. san Fran
cisco and the Philadelphia Company. Of Pi-rsburg.
APPLICATION To LTST--Applicati tion has beer
made to the New York Stock Exchange 20 Hs
s132O000 additional first and refJludInz u1orrgas
per cent bonds of the Iowa Central Railroad Com
pany, due 1851.
New-York tribune., 1908-01-18
London, Jan. II. p. m.-The market for Ameri-
securities closed weak. Final prices follow:
'Ex dividend

GOVERNMENT NEUTRALITY-SUSPICIOUS. receipts
reported from Washington, SS71319; internal reve-
nue receipts. SSS65i5. miscellaneous receipts S264-
574. Receipts for the day 81. .O22. 439: expendl-
lures. SCI 40,00G. Receipts for the month to date
S27,3S2.S26; expenditures s30.570.0O0; excess OF
expenditures. $3.237174- Receipts for the year TO
date sS44.755,455; expenditures $357,185 539; OK
cess OF expenditures S12,43O,084
SUB-TREASURY.-The Sub-Treasury was debtor
TO the Clearing House 81 1,954,313
FOREIGN MONEY MARKET-CaH money in
London, ~ o. q per cent; open ma rket discount
for short bills Il per cent long bills AZ per
cent Berlin discount rate. \ per cent. Paris
discount rate, 3$s per cent. Paris exchange on
London, 25 francs ia? centimes. Bar gold IFS Sd
Berlin exchange on London 20 marks 49% pfennigs
FOREIGN SECURITIES-Brits consoIs for
money, S3s4 per cent; for the account SO I5-l6
French rentes, s5 francs 52a centimes.
New-York tribune., 1908-01-18
" fWIHIII'I IIdI 1lIIo U'IIIS yiItI u
rs posted rates were as follows:

DOMESTIC EXCHANGE.-Roston, 30c discount:
Chicago 4oc premium; St Louis loc premium bid;
San Francisco, sight 12l8c premium. telegraph
l-I4c Drenium: New Orleans, commercial less I-l6c
paT bank 81 premium; Cincinnati. l2l4c premium;
savannah, buying par, selling 3-l6c discount
RANK CLEARINGS.-Ncw York. exchanges
s994 so 0s6 balances Sl4 $50 ,657; Philadelphia
changes s23s54l76 balances 81 SIS 0i9 Baltimore
changes S4.3sI 64s. balances $4ss,s25 Boston. ex-
changes SO $50 45, balances S5l152lO; Chicago, ex-
changes $50 go l22 balances s2,i77,S65.
SILVER MARKET.-Bar silver. 552sc. Mexican
silver dollars &c Bar silver in London closed at
25ssd. decline. 3-l5d.
GOLD PREMIUM.-In Madrid u q; Lisbon, 500
MEXICAN Observation-Disclosures exchange on
New York Is quoted POI =.
New-York tribune., 1908-01-18
Auction SaIeS-Financial.
ANDREW 4 McCoRNAC.

ANDREW }. MCCORMACK, Auc4ioneer
The undersigned will sell public auction at No -
William street Saturday. January 18th 1905 at :
a for account of whom Il may separately
in equal lots J2e Collateral Cold Notes
"f the Southern Steel Company. aggreGatine in par
value s.. .o6J. .0o0 and other lot
eating value s20e 600
ADRIAN D. MULLER & son. Auctfon..rs
New-York tribune., 1908-01-18
PRODUCE EXCHANGE STOCKS.

Trading continued TO be in small vaIurne N ts
mining market on the Produce E,xcha1Ss yeSssF
day The total transactions were Loo shares. D.
vided between two stocks as follows $40 C5rss.s
Nevada at sc and 206 CTOldhsId Daisy 81 o.
Bid and asked prices were.
New-York tribune., 1908-01-18
Financial Meetings.

NOTICE.
Tn. Annual Meeting Of the Stockholders Of the Man
fst-an Company viii be held the Office
oynpany. 3S2 East 2srh 81 New York City Noudsy.
27th. 1905. l. o'clock Noon. for Election of
year such other
Is NAV prorerly before meeting
MANHATTAN BRASS GO.
FRANK 4 sETBERT- Secretarz-
New-York tribune., 1908-01-18
DiUidend Notices.
The Baltimore & Ohio Railroad Go.
cfflos u nc SstTetaT3-


Baltimore. Nd. January p 1908.
Bead of Directors this day declared from the net
six ended Deem
ter n 1p07 Two - Per Cent on the Pre-
1e-ved NJ COMPANY he paid March = lAs
- re ttcckaders the close Of business
February ]. 1905
She E,an1rsuv dividend Of Three 30 Per Cent she
Coranon stock Company payable March - i3s, TO
the stockholders the close Of business
February ]. lfAs
The transfer books Til not close
{. ". WOOLFORD. Secretary.
rI-TIE BOARD OF DIRECTORS or Io5p & TAYLOR
Il day declared Quarterly Dividend Of two
r-r c2a the Cannon Stock Of this corporation
rsSsf February l. 1905.
The trsnsfer hooks wiz cose5 January ID
Fvbs.tsry ]. both inclusive
z. H. TITUS. Treasurer.
Kew York. January IL. l%ls
AAAIGaNsTED COPPER COMPANY.
meeting Of tie Directors ~ tho ATnagaIEated
Copper Company dividend of ONE-HALF or ONE
TER CENT. = n 1Co3 declared able Fsbru-
- Tans stockholders Of record the hooks
the Company q Of O'Clock T. NJ January %. 1905
a. II NELTN
Secretary and Treasurer.
New-York tribune., 1908-01-18
IMPoRTs oF pRYGoops

Imports and msTIlef.nss Of drysoods this week.
nith comparisons. fooWs:
Ihi- eek Last ne.E Last tcar.
Total import 81 .551
To:ai nsrbelia.s.... .Ifo.@4s 3417ss7 4.0s7. I5a
New-York tribune., 1908-01-18
GOVERNMENT BONDS

The following shows Yesterdays closing quota
daV's:
New-York tribune., 1908-01-18
6oSToN CURB STOCKS.

Furnished J. Thomas Reinhsrdt. n = Br'st strs
York. and No. 10 Exchange FIace- BcstonJ
New-York tribune., 1908-01-18
SdUings Banks.

SGlfngs Banks.
GREENWICH SAVINGS BANK
:. l.. Cor. sth Ave and 10th 1T.
INT EFEST AT THE RATE OF FOUR PER CENT
PER AAs(EM will he credited depositors SIX
MONTHS and THREE MONTHS ENDING DEC. 81.
1907. all from Eve dollars three thousand
dollars entitled thereto under the bylaws payabIs
Jan "a. 1905
JAMES QCINLsN. President
CHARLES VI. BUTCHER. Treas
: HANPrFS RDBB. Secretary
Deposits made on before IAN 10. 1908 iras
interest from JAN. 1905
New-York tribune., 1908-01-18
Financial.
CENTRAL PACIFIC RAILWAY COMPANY
rhrss and 0us-HaIf Per Cent. Mortgage Bonds.

fe hereby EiVen INST pursuaht TO tHs pIV''-
.s,s ~ krtcl. Nine Mortgage from this com
,.u~ "a the United States Trust Company OF new
York T..-tee, dated August i. 1892 this company
hs. set apart of the net income derived oS !"
r,o-, she .r.r therein nortgaged the sum
or .veutv-nve thousand dollars IN trust 20 be USED
to redeem sasd bonds and that bonds issued unoer
sssd mortgage viii be redeemed thsrewith BIOS are
hereby invited the surrender Of such oohos' a.
,,-t-.x ., ~. nan,os by the bidders the amount
Of SOS ee In Sinking Fund
Such bids should presented to this Company AT
n, once 12o Broadway. in the city OF New horh-
= - hefor. the Ard dsv Of February. Ieos. at twelve
o,clocle noon and should Endorsed BID, for Sur
render Of Central PacNe Railway Company Three and
cn~-5aIf Pc Cent Bonds
Central Pacific Rzilway Company.
By E II. HARTMAN. President
New York January 2nd. 1908.
New-York tribune., 1908-01-18
COBALT STOCKS.

Furnishes BY Wills. Stewart q Co. No. -
Place(
New-York tribune., 1908-01-18
NEW YORK CITY BONDS.

FURNISHED by Eyer & Co. No. 81 Wall street)
New-York tribune., 1908-01-18
AMERICAN SECURITIES ABROAD.

interchangeable. fCoupon. tRegistered.
New-York tribune., 1908-01-18

81 473 s2ss1
81 sa5 4e8 sQ7
07ITH
New-York tribune., 1908-01-18

81 aG3 ias "a
AF)fTIEs
New-York tribune., 1908-01-18

1857
S68 SIS M
80 81 IN
New-York tribune., 1908-01-18

sa2. 10 Total sales for the day. unlisted
The morning journal-courier., 1908-07-23

Chief Cowles and family will leave on August 1 for Saratoga, where they will spend their vacation. Chief Cowes will stay for three weeks while his wife and son, Henry D. Cowles, Jr, will re- main month.
The morning journal-courier., 1908-07-23

Tt is going 10 be war to the knife" declared the suburban man who was feeding his chickens.
 what now?' asked the friend
 "Why, Binker sent me box of axle
The morning journal-courier., 1908-07-23

None, save the question of the con struction of road that would not pay, declared MT Moult)n.
 Concerning the Westelaster road, the witness said that work on that line had progressed nearly to the city line. The work on it, ne added, be- gan in 1905, and ceased in June, 1907.
 "As a matter of fact, aid not the construction work practically cease in September, 19O6?" asked the commis- sloner.
 'No sir said the witness. He was asked to bring evidence to a future hearing to show that such work had been continued in compliance with the terms of the franchise up to June, 1907.
 Now, what was the reason that the work of construction ceased upon the Westchester where SO much had been done and so great an amount of money was invested?"
 For one thing, there were the dif- fieuties of getting real estate. Some plots were held, and we could not get hold of them, and then I believe there was the feeling on the part of the owners of the road that 10 more money should be advanced until there was q perfect certainty that the char ter of the Westchester road was en- tirely valid"
The morning journal-courier., 1908-07-23
Connection With Subway.

Later, he said, the road will be con- tinued either over the Portchester route or the Westchester route up into WestchesteF county, and that 1t was proposed to have physical connection with the present subway at the West Farms stations and with the proposed Southern Boulevard subway at West chester avepue, when constructed Ho thought that the Westchester, as at present planned, could be finished with in two years.
 After he had been sworn, Mr. Moul- ton testified that he had been iden- tlhed with both roads since early In 1907, and declared that only about $500 worth of construction work had been done on the New York and Port chester in that time, but that other eX- pendltures for salary and real estate had amounted to about $100,000.
 "The New. York and Westchester and the New York and Portchester were started3as competing enterprises, were they not?" the witness was asked. Ae
 "Yes I believe SOL declared the witness.
 "Then the proposal upon which you were set to work, namely, the pick ing out of new route, r1' ant the abandonment of one of the two four track, high-speed competing railroads promised to the city in retdrn for a franchise?"
 Well, I would not put it in that way It meant the construction of q road"
 But, in effect persistll the ques- tioner, 'it meant the aba od ohment of one road?"
 Well, yes, if you choose to put 1t in that fashion, I suppose it lid" finally admitted the witness.
 "There was no legal difficulties in volved to prevent the construction of the PortchesterMithin the allotted time provided by the franchise?"
 "No," said thds witness
 Nor any other diflicutie@T &ed Commissioner Eustis.