New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-02
GOULD FACES FIGHT
FROM WALL STREET
Continued from first page.

L
the many bankers and other finanoiers
who are interested in the s170000, 900
! bond issue that has been arranged by
the Morgans.
| II is possible that any fight that
might be started against the Goulds
would not stop with their interests IN
the Manhattan. The Missouri Pacific
and other Gould properties might be
involved. Appreciation of that fact is
said to have led the Gould bankers to
labor with him for several hours the
day before he started for Panama.
! They told him that his attitude would
not only displease the city authorities
and the bankers interested i'm the tran
sit system. but would also put him in
an extremely unpopular position with
to him that the public understood the
Manhattan had practically pledged its
word 10 cooperate in carrying out the
dual system. and that the sudden
change in front on the part of the COM
parry was construed as simply "A selfish
desire for personal gain.
Gould May Wish to Back Down.
1t could not be learned whether Mr..
Gould showed any disposition TO retreat
from his position before he started on
his three weeks pleasure trip. He did
:, &c Iah 4
McClement should be substituted for
Alfred Skitt on the committee of three
appointed by the board Of directors for
the purpose of adjusting the differ
ences." AS Mr.. Gould was a member
of the committee there will be only
two active members i'm his absence.
one. L. T. Jeffrey, is an out and out
Gould man. Mr.. McClement is TO go
on the committee. it IS said. TO repre-
sent the Rockefeller interests.
1t may he decided by this committee
that ii will not be worth while TO fight
if the Interborough assumes all the re-
sponsibility. as il would in taking the
| certificate for third tracking in its own
name.
Indeed there was a feeling I'm some
circles yesterday that perhaps MIR.
Gould might be only too glad to retire
as gracefully as possible from the posi-
ton in which he has plunged himself.
If he only wanted TO protect the inter
ests of the Manhattan Railway Com
pany, il was pointed out. he might
well concede that the assumption Of the
certificate by the Intcrborough would
relieve the Manhattan Of the respon-
sibilities pointed out by his counsel
However. If Mr.. Gould clings TO the
idea that he and other stockholders
should have some financial benefit out
of the dual system. he may decide To
hold out for a change in the lease that
would promise a greater return than
! the per cent now paid.
In case Mr. Gould determines TO fight
he will probably wait until the con-
tracts have been signed by the Inter
borough and a start has been made on
the proposed third tracks. Then he
might bring a suit to have the lease
declared broken by the Interborough
on the ground that il had gone ahead
with the third track without the con-
sent Of the lessor. Such a suit would
! undoubtedly carry with II an injunc-
ton, and would be fought through To
the Court of Appeals. 1t might not be
settled until fall. However, in the
mean time all the other work on the
dual system could be going ahead.
May Change Directors.
The annual meeting of the Manhat-
tan Railway Company does not come
until November so ii would be diff
cult to effect change of directors
until that time. If the fight on the
Gould interests should be brought
about the question might be settled
quicker by a change in control of the
board Of directors than by having it
| settled in the courts.
President Shonts Of the marlborough
takes the position that his company
! should not wait to deal any longer with
the Goulds. but should take the Inter
borough third track certificate itself
and go ahead and sign up all the con-
| tracts. Then Mr.. Gould could come
along with his suit TO declare the lease
| broken. The marlborough Is willing 10
| fight il out along that line.
Following out its policy OF being
ready for any emergency. the Public
! Service Commission held special
meeting yesterday. Nothing was done.
however. and probably nothing VIII be
done at a special meeting called for to-
morrow. 1t has been planned to take
| action on the contracts for operation
and equipment and the elevated extern
sion certificates on Tuesday. II may
| be. however that because of the inter
est in the inauguration on that day
the action may be postponed Until the
following day.
The Board Of Estimate will receive
the documents on Thursday, when II
will probably postpone action for
week. That will be plenty OF time, AS
| the third tracking certificate Is held up
by the legal necessity for two weeks
| notice of public hearing.
PUJO REFORMS RIDICUlED