New-York tribune., 1919-08-17

a deficit in their annual report of only
$25O,000. How do you make it $5,O00.-
600?
Hedley-I shall be glad to lay be-
fore this board full statement of the
true condition of the Interborough,
fer in my judgment, it is bustsd
financially to-day.
Employees Confer
Hylan (intcrrupting)--C Connolly SAYS
he will call meeting of the employees.
Get him now to name an hour and a
place for the holding Of the meeting.
Hedley to Connolly of the Brother
hood-Where will you hold it?
Connolly-In the New Star Casino, If
can get the delegates together But
we can hold it at once. The delegat IS
are here now. We can meet at once.
This was at 1898 by the clock Act
ing on his suggestion, Connolly sum
moned his committee together and filed
out into the corridor.
AS soon as he was outside the room
e. >. Hobbs, representing the non-as-
senting security holders of the Inter-
borough, got the floor and said that
he and his friends held that the Inter-
borough was not insolvent, as alleged
by Mr.. Hedley, and that he was in a
position to prove it. He said that the
statement issued by Stone g. Webster,
expert accountants, with reference to
the financial condition of the COM
| pany was wrong.
Injunction Is Suggested
Corporation Counsel Burr then ad-
dressed James l.. Quackcnbush, of
counsel to the Interborough, asking
If he did not think that he had proper
grounds for asking for an injunction
against the brotherhood to restrain
them from striking.
Mr.. Quackenbush said that possibly
it could be done. He then made a
statement in which he said that the
company had always supposed that it
was in complete agreement with the
men.
81 am bound to say to you" said Mr..
Quackenbush, that if there is any
way to prevent this impending strike
until now Of change in the constitu-
tion Of the brotherhood by which they
could call strike without due process
and arbitration. The men went away
yesterday intimating that the proposed
10 per cent increase would be salts
factory. With reference to the fnan-
cial condition of the Interborough,
have been working with Stone &
Webster, the accountants, for the last
three months, and | gave statement
to Commissioner Delaney yesterday
setting forth our findings On that
statement we expected to go out and
borrow enough money to avoid a re-
celvership."
Tells of Shonts's Visit
While MIR. Quackenbush was making
his statement Victor Watson, city edi-
tor of one of the Hearst papers. held
q ,,rbi
Hylan.
"Mr Shonts visited me at the Mayors
Office" said Mayor Hylan at this time
II always had some one with me when
he was there. He said the subways
we're making money. He said that he
did not care so much about the other
lines controlled by the Interborough,
some Of which are now in the hands of
the receivers, but that the INTERIOR
ough was In good financial shape"
At this point Connolly, of the
brotherhood, with his delegation, be-
gan to file into the room, and he sus-
pended his remarks as Connolly strobe
to the front
"Mr. Mayor and Mr.. Hedley," said
Connolly, 1--WE have decided to refuse
to consider any other requests or de
mands except our demand Of 50 per
cent increase, and. If we don't get it,
we'll strike at o'clock tomorrow
morning."
While the declaration from Connolly
was about what was expected, it made
a distinct impression on every one
present.
Agrees to Send Letter
"Mr. Hedley," said the Mayor, "will
you send out a letter to the men asking
them to stay on the job until we can
confer with them ="
Hedleyl shall be glad"
Hylan (intcrrupting) have been