New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-11-20
NJ 'ADOO MAY HAVE
BACKING OF MORGAN
Wall Street Hears FinanCier's
Firm Would Put Up for Tri-
borough Plan.
CITY OFFICIALS PLEASED
Hudson & Manhattan Subway
Proposition Won't Delay
Action on Bids In, De-
cIares WILCOX.

The offer of the Hudson & Manhat-
tan Company. through William G. NC
Adoo, president to equip and operate the
projected trfborough subway lines, II
certain notifications Of the route laid
out by the Public Service Commission
shall be allowed, his offer. involving an
expenditure by his company estimated
ar $50. OOO, 600. has revived the specula-
ton in Wall Street as 10 the position
of J. P Morgan & Co, in relation 10
the plans for subway extension
Mr.. Shonts. president OF the INTERIOR
ough- Metropolitan Company. about a
year ago announced that the Morgan
house would provide practically unIin1-
tied funds for the construction Of new
subways by his company and for other
improvements: and at the annual meet
ing in January he reiterated this state
ment. adding:
We are prepared to lay out 100000
600 in new construction work. and to go
to the extreme limit Of business judg-
ment in prosecuting this work The
largest bankers in the country are will
Ing TO back Us. J. P. Morgan & Co
have taken up the proposition. with
three points in view: a reasonable re-
turn to the bankers. a reasonable re-
turn TO the investor. and trnprovernanr
TO the transit facilities for the benefit
Of the public We have been almost
begging the commission 10 let US spend
money"
Fisk and Morgan Cordial.
The board of the Hudson & Manhat-
tan Railroad Company includes = H
Gary. chairman of the board of +ba
United States Steel Corporation: r 2
Jennings. of the firm of Stetson. Jen-
nlngs & Russell. who are attorneys for
the Morgan interests. and Anthony N
Brady. whose relations with the Morpan
mousse are commonly supposed TO be very
friendly Among the directors of the
hudson Companies. the holding compsnv
Tor the Hudson & Manhattan. are Will
lam G. Lane, president of the Standard
Trust Company. classed as an ins+i+,,+io,,
IN affiliatiOn with J. P Morgan & Co
ana Grant b. Schley. Of Moore & Schley.
a house of which James ] HfIFs son-fr-
law IS a partner and which has afvva1-.
been on friendly terms with the Morss,
interests
Most or the directors of the Hudson
Companies and the Hudson & Nanbat-
tan Railroad Company are members NJ
the firm Of Harvey Fisk & Sons. hank
ers Of the McAdoO system and members
of the law firm who are counsel for the
Fisk house. II has for years been gem
orally understood in the Street thar The
between J. P Morgan q Co
and Harvey Fisk & Sons were cordial
Morgan & Co. May Put Uo.
In the spring OF 1909 Walter G. Oak
man. president Of the Hudson Com
panies. retired from the board OF the
Rapid Transit Company.
and Cornelius Vanderbilt. Gardiner Nj
Lane and Andrew Freedman. INTERIOR
ough men, resigned as directors of the
Hudson Companies. Since that time the
and McAdoo companies
have been antagonistic. an attitude
which still exists Mr. Shonts's state
ment of the S1Oo O0o. 900 backing by J. p
Morgan & Co. has never been with
drawn. But. in view OF the virtual re-
tiremenr of the Interborough from the
extension situation as IL has re-
Gently developed the question is now
asked in the Street whether or not IL
NAV be that the Hudson 4 Manhattan
Company may have secured the use of
the vast capital which j. P. Morgan &
Co. have for the last year held them
Continued on third mage