New-York tribune., 1912-03-16
TO VOTE ON CAB Co. SALE
Shareholders will Decide Fate
of Pioneer Taxi Concern.

4 special meeting Of the stockholders ot
the New York Transportation Company
has been called for March % to approve a
sale. unanimously recommended by the di-
rectors, of the companys taXimeter cab
and electric vehicle business and OF the
plant and equipment connected with 1t. eX-
elusive Of the compary's interest In the
Fifth Avenue Coach Company and other
companies. The sale has been approved
President Richard W. Meade' SAYS, by a
number Of the largest stockholders.
we have for q long time felt the ne
cessity Of concentrating our eHorts on ne
Fifth avenue bus line. for the benefit both
Of our stockholders and the public said
Mr. Meade
While I do not care, at this moment. ia
go into particulars as to our plan tof th'
development Of the Fifth avenue bus husi-
ness, 7 am willing TO say that improve
ments made there will. we hope. within the
next few years. be even more important
and noticeable than the change from horse
10 bus traction.
The advantages. both TO the etockhoid-
ers and the public. will he marked and Ina
portant"
The New York TRANSPORTATION Company
has had A rather involved history. II was
Incorporated in February. 1880, as the New
York Electric Vehicle Transportation Com
pany. the name being changed 10 the pres
ent style i'm January, 1892 and the first
president was Harry Payne Whitney, The
company was an ofshoot ~ the old Flec-
trio Vehicle COMPANY. organized I'm 1897
by Isaac /, Rice tho control Of which vas
acquired I'm 1899 by the Whitney-Ryan-
Widener- Dolan syndicate. and which went
into a receivership in December, 1907, being
recognized as the Columbia Motor car
Company. now controlled .hy the United
States Motor Company.
The capital stock of the New York Trans
rortation Company was originally $500
ono but was reduced 10 the present $500 oo)
in 1901 The company, upon its organlza
ton. took over the electric cab service for
merly operated here by the Electric Nehi-
Gle COMPANY. which had esta nlished and
controlled other subsidiaries for operating
q similar service in various cities. In May,
1899. the New York Transportation Com
psnv bought from the late Henry Hart and
his associates in the Third Avenue Rail
road Company the control of the Fifth Ave
Due Stage Company, now the Firth Ave
nue. Coach COMPANY. which Mr.. Hart and
his friends had acquired a year or so pre-
viously from the Elliott +. Shepard estate
and others
In 1901 II acquired the Metropolitan EN
press Company and later the Park Car
riage COMPANY, the entire outstanding
stock ~ which two corporations. as well
as Of the Fifth Avenue Coach Company.
the Transportation Company owns. The
business Of both the express company and
the Park Carriage Company has been dis
continued, according 10 "Moody's Manual. W
The Fifth Avenue Coach Company's re-
port for the hscal year ended June 30. l9ll.
showed net loss Of S3i76l for the period,
due 10 heavy operating expenses and 10 the
writing off Of more than 10000 for depre-
citation.
The New York Transportation Company,
which introduced the taximeter system Of
cab fares in this city owns and operates
large number Of both electric and gaso-
lene motor vehicles It's main Office and
garage are At Eighth avenue and 18th
street. and II has suhstations ~ No. Hi
East 2Sth street and No ~ West 5Hth
street, and cab stands At a dozen hotels.
clubs and railway stations