New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-22
Chairman Silent on lntlmatIon
He Was Ready to Sign
Contracts at Once.
SHEARN ASKS FOR APPEAL
Mitchell and Maltbie Submit
Data to Show Estimated
Cost of Independent
System Plan.


Commission had talk with Mayor Gay
nor at the CITY Hall Yesterday AT
ternoon. but he declares they did not
talk subway matters. He said he did not
want TO say anything about the intinla-
ton made by the Mayor at the dinner Of
the North Side Board OF Trade OH Thurs
day night that ne tAIr. McCalD was ready
10 sign the contracts. He would rot. DC
prepared To act before WEDNESDAY. he
said.
President Mitchell Of the Board of A.
dermen and Commissioner Maltbie sent
TO Chairman Mccall last night detailed
financial data as TO just what each OF tIc
routes proposed by them in their single
independent system plan would cost. he
information was sent at The request of
the chairman. who is making care'hi
study Of their proposition. as well as OF all
ether suggestions that arc made TO him.
The opponents Of the dual system figure
that the city could build all the new lines
planned for the dual system for S2o'.o'o'
90 and the system could be equipped FOR
about sGJ.oC0Qc.
The chairman saw Commissioner Malt
bic i'm regard TO tho appearance AT the
regular meeting Of the commission OF
delegation from Flushing who wanted 4
hearing on the routing Of the propos "a
Flushing extension Of the Queens system.
He said later that lie was always in faVor
of public hearings. and II might b.
thought advisable to withdraw the ioi,e
from the Board OF Estimate and have a
rtlI D r
feet the signing Of tho present contra IS
as il vas intended 10 build the lines later
under the extension clause OF the con-
tracts.
Chairman Mccall said he had not yet
talked with Commissioner MaltDie IN re-
gard 10 the broad. general provisions OF
the proposed contracts and that he would
be probably among the last he woIld
consult Oh tn. matter.
Mayor Scolds Amateur finsncier.
MAJOR Gaynor wrote Yesterday I"
Henry !. Home. the amateur fnaacier OF
The Bronx. who recently said he would
he willing 70 place the entire INTERIOR
ough bond issue OF s7O.oco'"o a, par.
you say YOU object TO the city or TIE
railroads going 10 the firm OF Morgan X
90" wrote the Mayor. The city does
no, 20 20 Morgan x co. FOR money When
the ,i;v sells IT, bonds they are advc.-
,lscd and 10 10 the highest bidder. " to
railroads. I am sure DO not know where
they viii get their money to build ana
carry on their enterprises except OF BANK
ers. Where would Won nave them so for
it To cobblcts? We do not buy shoes
Of bankers OF money of shoemakers. |
understand the bonds arc being placed 81
o. think that was a fairly good pln2,-
ment OF them. II is none OF the city :
concern where the companies borrow their
money"
Then the Mayor wcnt or 70 explain ~
his patient way just what the hnancal
terms II the proposed contracts were.
'"lou say that tho city has only 'Sra,t
ing incompetent or stupid public officials
/ 20 look after the public interests the
MAYOR added Il am sorry you think so.
In fact. do not believe YOU think SO.
You onl" Try 20 make Yourself think so.
Nv associates IN the city government are
all men OF the highest honesty and intel
lgencc. IL may be that you look FOR lie
millennium when al officials ana bankers
! and all useless people shall be done away
with
Clarence J. Shcarn. counsel for John d.
Hopper. whose injunction 10 restrain the
! PuJlic Service Commission from signing
! the proposed transit contracts was DIS
! missed by the Appellate Division OF the
| Supreme court a week ago. presented a
motion before the latter court yesterday
for permission 10 take an appeal 10 the
Court Of Appeals Decision was reserved.
Briefs were submitted both by Mr.
I Snearn and George :. Coleman, counsel
for the commission. In opposition. When
! Mr.. Shearn was arguing his Injunction
| case before the Appellate Division Pre-
| siding Justice lngraham told him that, IN
| case the injunction was dismissed, they
would no, grant an appeal TO the higher
| court.
Interborough Fights Injunction.
| Arguments on the application FOR an m
! junction made by the Continental Securl-
ties Company and other minority stock
| holders which might prevent the Inter
| borough from signing the proposed SUP
way contracts will be heard at II o'clock
| Monday morning before Judge I.acombe
in the United States District Court.
! J. Asplnwall Hodge. as counsel FOR the
! applicants appeared yesterday before
Judge Coke asking for the restraining or
| der which would prevent the INTERIOR
! ough- Metropolitan. the Windsor Trust
Company. Thomas +. Ryan. August Bel
| mont and other directors from voting at
the meeting OF the Interborough's stock
| holders on March . certain shares OF the
Jntcrborough now held In trust by the
Windsor Company. in favor of author
! izlng the marlborough 10 execute mort
gage and 10 issue the bonds that VIII be
required BY the new subway contracts.
! An immediate argument on the matter
was sought by Richard X. Rogers, coun-
sci FOR the Interborough, but II was round
that the time was too limited and the
case was POSTPONED. The petition for the
| Injunction was made by Charles l.. Rob-
inson. secretary OF the Continental Securi-
! tics Company. In part his allegations
were:
"One of the effects OF the new mortgage
would be 10 make the x00O0,0O0 in cot
lateral trust bonds already issued by the
Interborough- Metropolitan Company In
reality a second mortgage Of the assets
| of the marlborough Rapid Transit Com
many instead OF a virtual FIRST mortgage
as at present.
II the marlborough is permitted to 40