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Newspaper
New York Times
Location
New York, New York, United States of America
Date
May 14, 1908
Page
16
Interborough matters spark a sharp clash as Public Service Commissioner Eustis questions former alderman McDonalds motives and changes of stance on the Broadway Lexington Avenue subway route. McDonald defends endorsements and cites potential profits while critics warn of huge costs and feasibility.
The Public Service Commission halted excavation on the Centre Street loop to connect the Williamsburg and Brooklyn Bridges after a request from Mayor McClellan. The work, at the Municipal Building site in Chambers Street, paused to prevent undoing deep foundations already dug for the new station. The mayor asked the Commission to await reconfirmed plans.
Frank Nedley General Manager of the Interborough told Public Service Commission Commissioner Eustis yesterday that equipping Subway cars with side doors would be costly and impractical. He estimated a full conversion for eight cars at about 1.5 million dollars and questioned acceptance by riders, noting the extra weight and potential事故s at station curves. Commissioner Eustis pressed about crowding and exits while B J Arnold defended his Chicago experience but admitted no expert status.
Hearing on Lexington Avenue line station locations drew support from John De Witt Warner and George S. Pavis of the Normal College who urged stops near Sixty-ninth or Sixty-eighth Streets and a college access link. Others backed Fifty-ninth, Eighty-sixth, Ninety-sixth, and 149th to 174th Street sites plus Jerome Avenue branch plans and Burnside to Fordham Road alignments.
S Pearson & Son bid 3 805000 for the Wallkill pressure tunnel part of the Catskill Aqueduct line, about 1 206 million under city engineers estimate of 4 511 600. Bradley Construction, nearest to Pearson, bid about 500000 more. Experts say inexperienced city conditions may have caused the low figure.
Corporation Counsel Pendleton advised Controller Metz that about 6.66 million in water bonds should not be deducted twice from the gross debt, while 22 million in revenue bonds must count toward the debt limit. Metz endorsed the counsel’s view, noting no court ruling on the issue and calling 6 million a bagatelle when considering the overall debt.
Charles P. White and Sadie Potts were granted a license to marry and wed at the New York Presbyterian Church. The romance began 22 years earlier in Tivoli, where White, then 19, and Potts, 16, faced family opposition and separate marriages before reuniting in New York after divorces and long separations.
Public hearing before the Building Code Revision Commission discussed extending fire limits to cover the entire city while restricting frame and single roof structures. The New York Board of Fire Underwriters urged full city inclusion, facing opposition from Bronx and Brooklyn representatives who fear redevelopment impact. Carpenters union opposed limits, while Staten Island groups urged staged application to Richmond areas like Stapleton and Port Richmond.
Thomas W. Lawson of Boston appeared to be in full control at a special Bay State Gas Company meeting in Wilmington on May 13. Lawson was named temporary Chairman and later elected President with J Frank Allee as Vice President and W H Miller as Secretary and Treasurer. Directors chosen included D A McSweeney, J Frank Allee, S John Abbott, Newell Bal, James V McCommons, and W Harry Miller representing 2,172,512 shares of 3,691,000. The group voted to give the receiver’s final settlement funds to the company rather than individual stockholders.
Directors of Union Pacific and Southern Pacific Railroads announce quarterly dividends of 4 1 4 percent and 1 1 2 percent. Harriman states Union Pacific is sound and able to finance when proper conditions arise, while he declines comment on Southern Pacific financing plans. Shares rise, closing up 4 3 4 points.
Trade weeklies report failure of ironmakers to unite on pig iron pricing. The Iron Age notes co operation faded as some producers cut or held prices, while Southern makers press markets. No. 2 foundry iron at 11.25 dollars reads 15.50 delivered to tidewater, with higher costs at other points. The Iron Trade Review says New York meeting reduced price pressures as higher price seekers back off, signaling bottom prices may be near.
The Southern Railway plans a 15 million dollar note issue over three years at 6 percent interest. Proceeds will retire 3.04 million of maturing debentures and fund development work. Notes secured by 20 million of improvement and general mortgage bonds plus 3 million Tennessee Central and 2 million Virginia and Southwestern bonds. Morgan & Co. and First National Bank participate. notes convertible to general mortgage bonds at escalating premiums. Subscriptions begin with syndicate that underwrote the first issue.
Supreme Court Justice Davis named Thomas W. Churchill of 74 Broadway as referee to hear testimony in the divorce suit filed by Mrs. Isabel J. Lamb against husband Arthur J. Lamb. She cites a marriage on June 6, 1907 and alleged misconduct after September. Lamb, a playwright and songwriter, claims income around 10 000 yearly. affidavits from Harry Von Tilzer and other music publishers support earnings. She notes Lamb received 150 for the song Splash Me popularized by Alice Lloyd. Lamb denies the charges and says he is 6 40 in debt.
Debenture holders of the Mexican Central Railway Securities Company Limited approve the deposit of $37,937,000 in bonds under readjustment and union. A London court ruled the trustees may proceed. Five trustees including Robert Fleming will deposit the securities within the coming week as the final step for the merger plan.
Greenwich Village mourns gambler The Allen in his West Eighth Street flat as coroner orders autopsy. Officials found no poisoning. motive centered on estate disputes and lingering delusions amid his ataxia and other illnesses. Neighbors recall longtime poolroom life and varied visitors.
Gold bar shipments totaling 5.75 million dollars left the assay office for Europe. Of the 85.75 million, the National City Bank took 2.5 million, Lazard Frères 1.5 million, Goldman Sachs 1 million, and the National Bank of Commerce 750 thousand. The movement since mid April now totals 17.25 million, with further shipments expected.
The Manhattan Life Insurance Company elected third class Directors to serve until May 1911. Named were George W. Quintard Edward A. Walton Spencer H. Smith Benjamin Griffin David H. Rowland Edward H. Schell John C. Tappin Robert M. Gallaway Albert C. Bostwick John Sherman Hoyt Edwin S. Schenck and Lowell M. Palmer. Jacques Huber was chosen a first class Director to serve until May 1909. Henry B. Stokes was elected President.
July contracts on the New York Cotton Exchange gained about 2.50 a bale over yesterday's close. July cotton sold at 9.90, 170 points above the recent low, with late-session selling trimming gains to a net rise of 1.25 to 3.5 points. The move was dubbed a corner driven by Southern market strength.
Court hearings in bankruptcy proceed in New York as Thomas A. McIntyre Jr testified about his role at McIntyre & Co. and the elder McIntyre’s control. An order restrained Anna Allston from blocking process servers at her sanitarium while witnesses are ready.
Cal D Brown of the California Society of New York reported San Francisco approved 18.2 million dollars in municipal bonds for improvements. Funds earmarked include 5.2 million for an auxiliary water system, 4 million for sewers, 5 million for schools, 2.2 million for hospitals, 1 million for Hall of Justice and County Jail, and 1 million for garbage disposal. The city may borrow up to 46 million more, with total debt at 21.66 million and projected annual assessment around 450.1 million, suggesting a borrowing capacity of 67.5 million.
Dean Alvord CQ announces plans to create a 1200 acre park within its gates offering recreations of a country club and the privacy of an estate, inviting property holders to partake in the development details at 277 Broadway.
Henry Finck, chairman of the Norfolk & Western, predicts railroad workers will accept wage reductions as depressions persist. He notes railroads avoid rate hikes to maintain traffic, favors gradual rate adjustments, and recalls past incidents when workers agreed to pay cuts during downturns to stabilize operations.
Checks signed by federal authorities for the 25 percent dividend on deposits of the National Bank of North America, closed January 27, arrive at the bank. Receivership official Hanna stated the payout totals about $700,000 and will be distributed to certificate holders today.
London tin prices declined sharply amid heavy selling from Eastern houses and local dealers. About 14 thousand tons traded, with the close at 132 pounds 10 shillings, after opening at 135 and dipping from yesterday's 137 pounds 0 shillings.
The May term Grand Jury of the United States Circuit Court was sworn in to hear charges against the Wrapping Paper Trust. Listed jurors include John E. Holahan of 656 Broadway and George F. Burt of 143 Fifth Avenue among others.
Yesterday's fires reported losses at numerous locations from West Broadway to Chrystie Street. The notices name residents and firms including Rudolph Oessner James Meehan Owen Kelly M. Newberg and Christina Fisher, with damages ranging up to $750 at various addresses such as 137th Street Bonino & Co and Park Avenue.
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