The evening world. [volume] (New York, N.Y.) 1887-1931, 1919-03-22
TRACTION TRUST
TOF|GHT TOF|N|SH
FOR SUBWAY GRIP
Ready TO Resist Any Effort
Looking to Receiver for In
terborough, Says ShontS.


Following the appointment OF
James II. Sheffield as receiver for the
Interborough Consolidated Corpora
ton. n s5o,O0O,oOO holding company
controlling approximately 81 per cent
OF the stock OF the Interborough
Rapid Transit Company and IS per
cent. OF the stock OF the green car"
lines, Theodore p. Shonts said he and
his associates would fght to the bit
ter end against any further receiver
ships.
The lnterborough Consolidated u
merely n holding company. The In
terborough Rapid Transit Company
operates the subway and elevated
lines. II was learned to-day there
is practically no likelihood OF n re-
ceiver for the latter company be ng
asked. as II will be able to meet all
It's debts during the year.
II was suggested to-day that the
three recelvers-Llndley NJ. Garrison
OF the II, II. T.. Job y. Hedges OF the
New York Railways Company and
Mr.. shefneld-might. by working In
harmony and with the assistance OF
Federal Judge Mayer. be able to find
solution OF the city trafic prob
lens In the unifcation OF all the
traction properties.
Mr.. Hedges suggested that an.
move in this direction shoud be in
augurated by Judge Mayer and sale
the Judge might consider IT," Mr.
Hedges has what "insiders" conside
the least desirable of the three re
coiyerships. lie came from his Office
perspiration showing on his brow, an,
assured newspaper men he had moth
ing to say because he had too mucl
wor kto do.
Up 10 noon Receiver Sheffield ha
not taken possession OF the INTERIOR
ough Consolidated Offices. At his lay
office. No. 81 william Street. a cler
announced that MIR. Sheffield will no
be available to-day"
Gov. Smith, who Is in the city TO
day. declined TO comment on tn
transit situation. His friends. how
ever, denied a story that he had en-
tered into an agreement with Mayo
Hylan, w. II. Hearst and Comptrolle
, Craig to force municipal ownershi
I OF all transit lines in New York CIT,
{ II was said while he IS In favor {
municipal ownership and operatio
OF street railways, he is taking u
active part in bring ng Il about,
FORTUNATE FOR PUBLIC" ot
cLAREs CRAIG.
Mayor Hylan and Corporate
Counsel Burr had no comment
: make on the new rcceivership, br
Comptroller Craig said;
Everybody knows that the Int
borough Consolidated Is the holdlI
= company for the tail ends OF 4
Ic old Mc.ropol tan street Ralwj
:. Company. II was organized to "a
of load on the public and II is fort
nate thing that the recelvershlp h
ss intertercd with the unloading oper
~ tion. Neither the recc.versh p OF I
'e lnterborough Consolidated nor I
ID New York Railways Company afrc,
IN in the slightest degree the city's co
D. tract with the lntcrborough Raj
Transit Company for tho opcrntl
: Of the city owned subways and equ
ment"
,o JudG' Mayors appointment OF :
Sheffield late yesterday resulted fr
the failure OF tho Rapid Transit Co
n pany TO pay dividend. The dir
tors OF the Rapid Transit CompG
a have deferred" action on the di
dend for the first quarter of t
a. year. II will not be paid.
These dividends formed the lar
nc part Of the income OF tho Cons,
is dated Company. As a result Of
:. passing OF the dividend. the Cons
dated Company finds itselfs unable
I-rr-A