New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-16
ESTIMATE BOARD PUT
THROUGH MELLEN DEAL

York Westchester g. Boston Railway
Company. par value 500 a share.
90 The beneficial interest in 23,4sels
shares OF stock Of the New York. West
chester & Boston Railway Gompany' evil
denced by voting trust certificates.
(c) Sl3.49O0O0 out of S13500.0o0 of certain
underwriting agreement, calling, upon
conditions therein stated, for S15,ODWo OF
bonds and 1900 shares OF stock OF the
New York. Westchester * Boston KAN
way Company, evidenced by voting trust
certificates. now held by the Knicker-
booker Trust Company under said syndl-
cate agreement Of underwriting.
All of said underwriting interests, with
the exception OF $4,000. are now held by
this company, but the same have not been
paid in full. Upon completion of pay
ments to said underwriting syndicate TINS
company will control "a. S6l shares OF stock
Of the New York. Westchester q Boston
Railway Company. evidenced by voting
trust certificates
Tells Of New Ravens Plan.
1t is the intention Of the New York.
New Haven * Hartford Railroad Com
pany TO cause to be constructed a rail-
road from the Harlem River TO Port
Chester, consisting of two tracks 10
Nth st. four tracks from 177th ST. to
the city line and two tracks from the
city line to Port Chester, such road TO
be high speed electric railroad.
The plan under which the construc-
tion is to be made has not taken final
form only because OF the resistance by
property owners. disputing in the courts
the validity OF the charter OF the New
York Westchester 81 Boston Railway
Company The attempt TO construct
promptly has encountered the opposition
of one Of the stockholders of the West
! chester company, in whose suit an in
| junction has been granted. preventing
| your board, at least for the present,
! from granting the application of the
New York d Port Chester Railroad Com
| pany.
Since fling OF application for change
| of route by the Port Chester company
| additional property has been purchased
! between lin ST. and the city line. and
the company has now bought or ar
| property between the two points with
| the exception of a few pieces as to
which it is evident that it will be nee
essary to begin condemnation proceed
| ings TO acquire the right OF way.
| Until either the Westchester company.
| by reason OF a final decision of the Court
of Appeals sustaining the validity Of the
| charter rights, or the Port Chester, by
! reason Of the consent of the board to
cross streets on amended route, is In like
| position. little progress can be made in
! this regard.
on December ~ 1907. Judge Charles
| i. Brown. the referee before whom
the proceedings to determine the valid
] ity of the Westminster charter We're
pending in the form Of condemnation
proceeding TO acquire property OF Mrs.
] Arabella y. Huntington, rendered an
opinion sustaining the validity Of the
charter OF that company.
II the charter is finally sustained. it
is the intention of this company that
/ the New York & Port Chester Railroad
Company and the New York. Westches-
ter & Boston Railway Company shall be
Z consolidated, in accordance with the pro-
/ visions Of the law. 10 form one company.
nNa1A I.NN. 81 ,AerG
Brown be reversed and the Court OF APP
peals adjudge the charter of the West
chester company TO be invalid, the con-
I structiOn of the road would be complet-
/ ed under the Port Chester charter.
The statement OF Mr.. Mellen." re-
ported Harry T. Nichols, franchise en-
gineer Of the Board Of Estimate may
mean that the company will do only
such work under the present franchises
as will technically comply with them
TO keep them alive, using such extern
sions Of time as the courts will grant
on account OF litigation now in prog
ress.'
And no work was done until the two
railroads were consolidated in Deem
Der. 1909. Each road was able TO get
extensions OF time from the Board of
Estimate.
on June .. 1908, a petition signed By
Mace Moulton. president of the Port
Chester, asked for an extension of time
for one year for the expenditure of $50. =
600 for construction. one OF the provisions
Of the franchise. Edward VI. Grout. for
mer Controller. and John J. Delany.
Tammany man, appeared as counsel for
the company. The extension was granted
unanimously.
year later the road asked for a fur
Their extension Of time. Nelson =. Lewis.
chief engineer, and Harry p. Nichols,
franchise engineer, OF the board, recon-
mended that the extension be denied and
the franchise be declared forfeited.
Lewis Forecasts Roads DESIGN.
1T is quite apparent" said Mr.. Lewis,
that only one line will be built. and il
will be so built ana operated as 10 pro-
tect. or at least in no wise TO interfere
with, the business OF the New Haven. II
the franchise is forfeited, there will be
forfeited with 1t $4,000. which II was
clearly intended by the board should 30
\ forfeited to the city in case this line were
not constructed. Such forfeiture would
certainly go far to prevent the securing
OF franchises for independent lines, the
building OF which is not seriously con-
templated. but which are secured 10 pre-
vent, rather than secure, competition"
Francis Lynde Stetson appeared rs
counsel for the company. and. in spite
of the recommendation OF the engineers.
the extension was granted.
/ The Westchester made its application
on lime - IaOS for changes in routirP