The Bridgeport evening farmer., 1910-07-19
DIRECTORS PAY
 BACK MILLIONS
Settlement With City Railway
 Made by Securities Co. in New York

New York, July 19.-That the former directors of the Metropolitan Securities Company in settling the litigation against themselves and their corpora tion by the New York City Railway after the traction smash of 1907, paid not only s1,50O,000 but all except about S300,000 of $6,500, GOO brought into the City Railway treasury. became known yesterday. The public announcement of the settlement took cognizance of the payment of S1.500.000 in cash by the Securities Company directors. but the fact that substantially all the millions now regained for the rehabilitation of the surface traction system came from the private fortunes of the men who managed it in the years which led up to receiverships and general bank ruptcy, has just become known.
 Admissions were made in well-in- formed quarters that the settlement was entirely financed by individuals, although made in large part through the Interborough-M Metropolitan. which issued it's notes at par for 4,000, 900. The connecting link is that the Inter- boroughM Metropolitan notes were four in number, issued for $1 ,000, 900 each, and were taken at par individually by Thomas F. Ryan, P. A. B. Widener, E. J. Berwind, and John D. CrimminS. There was a minor division of one of these interests concerning which the
  not large enough to affect the substan- tia1 accuracy of the statement.
 Inasmuch as Thomas F. Ryan, P. A. B. Widener, Thomas Dolan, and the estates of William Elkins and William c. Whitney had previously paid s692,- Company. in refunding with interest the sum paid them in the Wall & Cortlandt Street Ferries Railway deal in 1902, this latest information about the recent settlement brings the items of individual assessment into pretty high figures. Although the exact par tfcipationS in the S1. .500, 900 cash paid over when the Interborough-M Metropoli- tan Company raised its $4, GOO, 900, are guarded as jealously as those in the 1nter-Met notes themselves. it is learn ed that Messrs. Ryan, Widener. Der wind and Crimmins put up about $300,- 900 each for that purse. while Paul D. Cravath, the lawyer who was both counsel and member of the executive committee. paid back s10o.000 and the others the s200,000 remaining
 The other directors of the Securities Company who remained to be consid- cred were Mortimer L. Schiff, Thomas P. Fowler, H. H. Vreeland, Thomas Dolan, and E. W. Sayre The last named is employed in the offices of the traction combination. and H. H. Vreeland. the former president of the Metropolitan system, while we'll off is not understood to be wealthy man. Thomas Dolan of Philadelphia sue ceeded in escaping service of papers in the big litigation. and he. so far as can be learned. did not participate in the refunding of the traction millions beyond his share of the S692 292 for the Wall & Cortlandt Street Ferries Rail- way. This completes the list of avail able sources, except James Hagen Hyde. who has been in Europe throughout the litigation and was not pressed, and the estates of several dead men-namely, William J. Baldwin, William Elkins, A. D. Juifliard, and George G. Haven