The evening world., 1909-03-11
Clash of Financial Interests
Causes Him to Resign Hud-
son Tunnels Connection.
TWO BIG GROUPS WAR.
Ryan's Followers Are in Inter-
borough and Brady Is Nov.
ing Spirit in Rival.

II became known to-day that william
Barclay Parsons Is no longer consulting
engineer for the Hudson Companies.
Charles NJ. Jacobs, the great English en-
gineer, Is now both chief engineer and
engineer for the McAdoo COM
pan!es, while Mr.. Parsons Is chief en-
gineer for the Interborough-M Metropolitan
Company.
Following the resignation OF Walter G.
Oakman from the erborough. Metro
politan Company's directorate, and the
designations OF Cornelius Vanderbilt, An.
drew Freedman and Gardiner NJ. Lane
as directors in the Hudson Companies,
announcement of the retirement OF Mr..
Parsons from the McAdoo interests is
most significant.
Line Up Of Millionares.
A gigantic tight-the greatest New
York City has ever scents now on be.
fore the Public Service Commission be.
tween a group of tinanclers behind Will.
lam G. McAdoo on one hand against a
group Of tinanciers behind Theodore p
Shonts on the other hand. This is the
real inside story OF the various sub.
way propositions and counter-proposi.
tons now before the public.
Behind Mr.. Shonts are the allied
forces OF the old PETERBOROUGH Rapid
Transit Co. and the Metropolitan Street
Railroad Co. His supporters are
Thomas F. Ryan, August Belmont, ].
S. Auerbach. Z. J. Berwind, Paul D.
Cravath, j. D. Crimmins, f. NJ. Day.
ison. T. P. Fowler, Andrew Freedman
solomon Guggenheim, John B. McDon-
aid, NJ. F. Plant, Il. A. c. Smith. Cor
nelIus Vanderbilt. G, w. Young, G. NJ.
Lane, Of Boston, and Peter A. b.
W!dener Of Philadelphia.
Behind Mr. McAdoo are men con-
nected with the Steel Trust and the
Brooklyn Rapid Transit Co. His chief
supporters are Anthony y. Brady,
Walter G. Oakman. Judge f. II.
Gary, f. E. Converse, Z, F. c. Young,
Of Jersey City. q. Tracy Rogers. Of
Binghamton, n. Y, +. b. Jennings,
John &, Mccullough, Wilbur c. Fisk,
Pliny Fisk and W. n. Barnum.
With Unlimited Resoure
Both sides commanded a!mos, unlimited
resources, which have already been
drawn upon heavily. The McAdo0 people
are divided into two gropes-first the
financiers who put their money into the
Hudson Companies or holding corpora
ton which did the construction work.
and second, the Hudson and Manhattan
Railroad Company, Incorporating cor
pJration.
The Hudson Companies have issued
E5,ooO0Oo worth of per cent. gold
bonds secured by bonds of the Hud-
son and Manhattan Railroad Company.
1t has a capitalization " 800. ~ pre-
ferred, and S5,O00,tO0 common. The bonds
are due August /, l9lV but are subject
to call On any interest date on thirty
DAYS notice, The Interest dates are
February l anu .Al--ust /.
As for the Hudson and Manhattan
Railroad COMPANY IN september, 1905,
It reported Il funded debt OF sj6,5yJ,OCO.
It has issued sSE,syg,95O worth of common
stock, and SJ,2SOyyV prcierrer. Since then
there has been a marked Improvement
~ the condition Of the companys
finances.
p The outstanding obligations Of the
lnterborouGh Metropolitan Company
ore even greater than those of Mr.
McAdoos companies, reaching the
great total of }-yGS2hly3, or thhis sum
,to,,i@yv is preferred stock, $y5,!o..l ,g
IS common stock, and the remainder of
spus-,voy is in / IL per cent. collateral
Gus, bonds.
Deadly Struggle.
These rival interests are locked in a
deadly struggle, and report current
- Wall street is that the Snonts peo-
sle see behind Mr.. McAdoo the mys-
.erloLs hand OF Tony Brady the
mole u. Brooklyn Rapid Transit. MIR.
.jraoy is director in al! VI the Nc.
Adoo companies. an. there was no
rush ~ resign on Mr. Ba.dys part
when Messrs. Vanderbilt Lane and
freedman cast themselves out of the
McAuuD .Dld.
II Viii be recalled that Mr.. Freedman
gave as tNe reason for these res'gna.
tlOns Violation OF sentleman's
agreement, on tAe part Ut Mir. Me
Adoo company. NJ. McAdoo imme.
d!ately replied that ne was In no such
agreement The only "genaemen's
agreement in New York trauspor,a.
ion aRsIrs with which the pubic is
familiar was that made between An.
laony y. Brady and the late William
T.. Whitney under the terms OF which
Mr. Brady agreed to conune Ills opgr.
atoms 10 Brook IN.
They Fear Mckdoo.
So far the Hudson ana Manhattan
abroad Company has oa.y applied
Tor an extension Of its SUBWAY fran.
E.se from Thirly-:nrd Sure. and
slXth avenue to the Grand Central s.a-
ion. Mr.. McAdoo wants d teru'a4,
here, he says, but the lnter-Alc. pyo.
pie seem To fear that MIR. McAdoY ma.
~ north aud south and even east 4..
.ouaect witt the city loop connecting
ne various bridges TO Brooklyn.
Chairman William Il. WILCOX. Of H..
Public Service Commission, to-day s4..
an Evening Word reporter.
"lhcre IL only one subway prop