The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-21
C%onttn from First Page.

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amount would be arrived a. by ticket
sales, after deducting administration
costs, maintenance charges, taxes and
assessments. sinking fund percentage and
other expenses. providing that the COM
pany's proportion Of the surplus be not
u~nrcasonably small and providing that
the company operate any new subways
or extensions constructed by the city. SO
as to Insure the company receiving a
profit.
President Shonts had great difficulty
remembering most Of the things about
which he was questioned. and this neces-
STATED Mr.. Moss skipping about In his
examination so AS TO refresh the wit
ncss's memor on important points. He
testified at first that the letter of March
90 was not discussed before the Inter-
borough directors M all. but later he
recalled that as a meeting Of the board
on the day after the March 90 letter
was submitted and interlineations made
at "a conference at Mr.. Wtlcox's house.
he president Shonts) brought the sub
way negotiations down to date" for the
directors.
MIR. Moss read from the minutes OF n
meeting OF directors on March 20 which
voted that authority be given to the
executive committee to submi to the
Public Service Commission modiiei
plans for the extension OF the subways
or elevated roads such as would be to
the best interests OF the company.
was there not AL inharmonious dis
cussion OF this matter" asked Mr.. Moss.
the understanding until yesterday nav!
ing been that the March 20 offer" died
because the hoard of directors refused
to stand for IT,
Not to my recollection" responded
Mr.. Shonts. II told them ever. thing.
In fact the only criticism that I heard
was from one OF our directors, who said
I tipped them on too much-tock them
too closely into my confidence. The res.
olut.on was the rebuilt OF what ] told
them about my negotiations with MT.
WILCOX"
"vho we're h executive committee
Mr.. Berwind. Mr.. Belmont, Mr..
Freedman and Mr.. Cornelius Wander
bilt. ! was the chairman"
Met at WnlcOx's House.
Mr.. Moss and Mr.. Shonts then entered
into what wa at first "A fruitless search
for the details ~ conferences lasting
until early morning AT Mr.. WillcoXs
house. one such meeting was on March
%. at which the interlineations on the
letter of that date were made. Pre~i-
dent Shonts could ,rot remember that
,rca,,ry a, Nv Wiilcox's house, lie did
no, remember that lie ROY 7. darkness
Of counsel, 10 the Public Service Com
mission had attended one Of the confer
cnces to which the latter referred in =
speech later IN which he said that All
agreement was reached II the plan
rejected ncSt day.
senate Thompson nrEcd the WITNESS
TO remember a.
.Is ,r,lTA- .n-ani1 Hntn said MY
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y" ,o,"r.."en ""' ~
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what. Mayor ,iaynor' On yes ""
Mas opposed TO buildiis the ne" INES
with private capital
When IN" aft rnron session began MI
Moss r.itd from the minutes or the March
~ meeting NJ the executive committee ot
the lnterhurough. AZ which Mr.. B"rw'nd.
Nr. Fr, .dman. Mr.. Shonts and Mr.. VAN
derhil' W"r" present. This meeting pre-
coded the directors meeting ny fifteen
minutes, hut Pre- sid.nt Shon's could not
remember that anything was said about
the Wilcox negotiations or getting help
from the city administration.
What WIS the reason for the directors
assigning this extraordinary power 10 tine
ex. cutive committee to make and close
subway negot!ationsc' asked Mr.. Moss.
"ln this case IL was So tina, IL 1t he
caue necessary To formulate , p%roposi-
zion 10 the Public Service Commission II
.x.cu,,ye committee than OF tho whole
board
When you went 10 see the Mayor
IL $50 lr aoA