New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-07-11
FINAL SUBWAY HEARING
Interborough Is Expected to End
All Negotiations Today.
TO EXPLAIN OBJECTIONS
]. P. Morgan, Jr., to Tell City
Officials How Finances Prevent
Company's Acceptance.

Further Efforts TO get the city and the
marlborough Rapid Transit Company u
agree 10 terms BY which the company
would take It's part Of the subway pro-
.ramne laid out in the McAneny- WILCOX
ranort were unavaiIing yesterday. fur
Their conference. which may prove 10 De
firal, will be held at $50 o'clock TINS morn
ing. at which time ]. P. Morgan Jr'' OF
the firm Of ]. p. Morgan & Co.. bankers
for the Interbprough, will state the imam
oial objections to the terms laid down py
the city
Mr.. Morgan will talk 70 the members OF
the Public Service Commission and the
conference committee OF the Board OF Esu-
mate Yesterday afternoon h. /. DaVl-
son. of the Morgan firm. accompanied
President Shonts of the Interboroush com
many. first 10 the Office Of Borough Presi-
dent McAneny and then TO the Pubic
Service Commission 1t was understood
that at the end Of the conferences inc
company and the city were as tar away
from an agreement as ever. There is h'tie
hope that any agreement will be reacneu
to-day If not, the Interborough VIII prop
ably send IN its final letter Of declinauon'
which President Shonts declared yesterday
had been on his desk for two days
There was no meeting Of the Board OF
Estimate yesterday morning in view OF the
efforts being made 10 get the lnterDoroush
and the city together. Although the nnai
declination of the marlborough can scarce
" reach the board in order TO be acteo
upon formally to-day, the board will meet
ough route, which have been AWARDED Dy
the Public Service Commission
/ In view Of the long and in many ways
/ unexpected delays that have already at
/ tended the subway negotiations none OF
! the members of the Public Service Com
mission wished TO predict that the problem
would be definitely settled at the regular
meeting Of the Board Of Estimate Oh
Thursday. Privately. however. they are
each and every one determined to have II
settled at that time, il possible
The negotiations yesterday opened Witt
visit to President McAneny by Mr.. 10"
chairman OF the joint transit committee OIL
the Chamber of Commerce and the Mer
chants Association He was followed BY
/ Edward NJ GrOut, who is now retained a.
] COlnSpl by the inter DoiOhelis t<hNNA 80
afternoon President Shonts and Mr.. Davl
son. Of the Morgan firm, Joined Mr.. 10"
and Mr. Grout in the offices Of the Borough
President. After a time the entire part!
went over to the Public Service Commis
sion. where Chairman WILCOX and Com
missioners McCarroll, Eustis and Maltoif
Joined the conference.
/ 1t is understood that Mr.. Dawson re
heated on behalf Of the bankers the arsu
u.ents that had previously been advanced
bv President Shonts. He thought that tn'
COMPANY could afford 70 equip and operate
what the city might build with its owl
MONEY. but even then the company oush
n have a guarantee of profits on its pres
emf lines so that outlying extensions misn
not entirely eat up the profits of the busy
trunk lines
Controller Prendergast. President Mitche
If the Board Of Aldermen and Borough
| President McAneny comprising the Cor
rorste Stock Budget Committee OF the
Board Of Estimate, spent several hour'
Yesterday figuring just how much none!
thew might be able 10 set aside this yea
/ for subWavs. In the budget there will %
about S40. 900, OOo designated for general pur
noses which will leave considerable mar
Gin for subWsvs.