The evening world., 1913-02-21
New Control Would Make In
terborough Stronger Is
One Argument.
STOCK NOW IN SNARL..
Continental Securities COM
pany Claims Il lntervenes 10
Save First Mortgage Holders.

Through its attorney. J. Aspinwaii
Hodge. the Continental Sccuries Com
pany appeared before Judge Coke, In the
Cnked States district Court to-day, act
eng In the capacity Of q stockholder OF
the 1nterborouGh Rapid Transit Cpm-
pAny. The lawyer asked for an injunc-
Zion restraining the interborough Metro
poiitan Company and the windsor Trust
Company. at q meeting OF the Inter-
norough's stockholders called for March
8, certain shares Of the Interborough
Company recorded In the name OF the
Windsor Trust Company. recorded In the
name Of the Windsor Trust Company.
In favor Of authorizing the Rapid Tran.
cit Company TO execute . mortgage and
issue bonds The Continental Securities
Company asks that the Injunction be
made to hold pendinG the litigation now
in progress.
Should Judge Coke Issue this In
junction the practical effect will be TO
tie W the execution OF the subway op-
Grating contracts indefinitely. for. Il Is
said. months will pass before the deci-
sion OF the Federal Court will be hand
ed down. during the tendency OF which
she injunction would hold.
SUIT OGclARes TRACTION COM.
DtNE ILLEGAL TRUST.
The motion for the injunction was d.
rccted TO the lntcrborough Rapid Tran
cit Company. the Interboroush-M Metro
politsn Company, the Windsor Trust
Company. the Metropolitan Street Rail-
way Company, the New York City RAif-
( way Company. Thomas r. Ryan, Auguat
Belmont. Edward J. Berwind. John d.
! Crimmins. Andrew Freedman. Thomas
p. Fowler. Gardiner M. Lane and Cor
nclius Vanderbilt.
The petition for the Injunction is
made In detail by Charles L. Robinson.
Secretary OF the Continental Securities
Company. lie sets forth that on April
n. 1sH, the Continental Company. as
a stakeholder OF the PETERBOROUGH Rapid
? Transit Company. began suit against
the InterborouGh-M Metropolitan Com
pany. alleging that the lnterborough-
Metropolitan had acquired 70 per cent.
OF the stock OF the Inter borough RAPID
Transit by exchanging therefor Its own
stocks and bonds The PETERBOROUGH
metropolitan also acquired msjorities
OF stock In most OF the street railway
lines OF Manhattan and the Bronx. thus
becoming. no the complaint asserted. a
monopoly In restraint OF trade Under
the laws OF New York State. and the
court was asked TO order the INTERIOR.
ouSA- to return It's Inter
Borough stock TO Its original owner.
Although the action was brought
tRAA 0NAN e. A.. Att L. Nl,o
C,ited States Courts because the par
ties were citizens Of different cities and
tbs amount involved was more than
Soeoo.
Shortly after the Ming Of the &C.
tion the defendants demurred TO tho
complaint. asking that Judge Ray dis
miss the suit. Judge Ray dismissed
the demurrer. and allowed the actor
10 20 to trial. Testimony was full.
taken before an examiner OF the United
states District Court. whose report ha
been fled. The Continental Securities
Company ask that Judge Coke issu
the Injunction to hold until the Cour
has acted upon tho report Of the ex
amineP.
Continuing In his petition Mr.. Robin
ron ihehtiohs 'he Iact tnat on Jan.
1913. the PETERBOROUGH Rapid Transl
Company asked permission OF the Pull
lie Service Commission to execute
refunding mortgage and issue $40
100000 per cent. bonds. In this cor
nsction the petitioner cites the stoc
Corporation law. which provides thl
no public service corporation shall II
sue bonds without the approval OF tw,
thir.s OF the stockholders
ARHRA0AnN unrEe ~ nAAin