The evening world. Newspaper, August 28, 1919, Page 3

bl A |, OF INTERBOROUGH SYSTEM LADD 10 J. P. MORGAN Banker Believed to Be Pan cial Interests” Behind Reported Plan. HUGE SUMS ADVANCED. Money Enabled Interborough to Equip and Operate the Dual System. With Interborough officials pro- fessing ignorance of the plait to elect Thomas F. Mitten, President of the Philadelphia. Rapid ‘Transit Com: Pahy, successor to President Shonts of the Interborough, interest to-day was center on the identity of the ‘financial backers of thé Inter- borough Rapid Transit’ Company” who “are réported in Philadelphia as having invited Mr, Mitten to come here, Two groups of financial interests have financed the Interborough since the contracts for the difal sys- tem were entered into, Shortly after the dual contracts were signed in March, 1912, J. 2. Mongan & Co. took 4 $160,000,000 in Interborough 5 per cent, bonds. The money was advanced to enable the Interborough to equip and operate tho dial system! With tho advent of the war and nereased prices, J. P. Morgan & Oo, in the autumn of 1918, advanced $40,000,000 on 7 per cent, notes of the company secured by $60,000,000 of new bonds. Before the deal with J. pr. ‘Morgan SHS “NONE 8O GOOD.” Exclusiveness of the Hurley Shoe Models should appeal to men who seek quality and style without sacrifice of personal comfort. The fit dnd shapeli- ness of Hurley Shoes are ideal. Made‘over a special last— has C forepart, B instep, and Aheecl. Grips the foot firmly, cannot slip at the heel. Cor- set fitting at instep, Abéolute comfort in forepart. Wide, medium and narrow toes. CLEARANCE SALE Now in Progress HURLEY sHo€s 1434 Broadway 1357 Broadway 1177 Broadwa; 205 Broadway 41 Cortlandt St 254 Fifth Ave. Factory—Rockland, Mass, & Co, the Interborough Rapid ‘Tray- sit sfock issue of about $83,912,000 was deposited as collateral for 4% per cent. bonds of the Interborough-Metro- politan Corporation not to exceed $70,000,000, of which $67,000,000 have been issued. Interést on these bonds was defaulted last autumn and James R. Sheffield was selected as trustee by the Interborough-Consoli- dated Corporation to vote the stock under the trust agreement made when the bonds weré issued. Since the flefault the men who took the last mentioned bonds have formed a Protective Committee, of which Col. Grayson. M, P, Murphy, Vice Presi- dent of the Guaranty Trust Company, ia Chairman, Ten days ago this com- mittee reported that 47 per cent. of the 4% per cent, bonds had been de- posited with the committee at the Guaranty Trust.Company. The larg- est known owner of these securities \s E. J. Berwind, who is a director in both .“e Interborough and the Guar- anty ‘Trust Company, Col. Murphy, as Chairman of the Protective Committee, announces that neither he nor the interests he repre- sents, tho Berwind-Belrhont group of fifianciersy have made any overtures to Mr. Mitten. The only otiier “financial backe! of thd Interborough are, J. P. Morgan & Co. and their clients. There was no statement from the Morgan interests, concerning the tender to Mr. Mitten of the Interborough Presidency. In the mean time, Mr. Mitten ts yachting off tife Maine coast and he ie not expected back in Philadelphia before Monday. He is expected to land from his yacht at Boston and journey to Philadelphia by rail in time to have a day to prepare his address to the Philadelphia Rapid Transit employees j at their Willow Grove, picnic, Tuesday. With no announedment from the | Morgan group, it was. pointed out that Mr. Mitten, in his present position with the Philadelphia Rapid Transit Company, is the creation of E. T. Stotesbury, senior partner in the firm of J. P. Morgan & Co., and active head of Drexel & Co,,. Philadelphia. He is Chairman of they of Pinectors of the Philadelphia. | Rap! ‘Tranaist, Com- pany and financed the company while Mr. Mitten rehabiliated it after it was jdankrapt and torn with labor troubles In 1910¢ With the denial of the Berwind- Belmont group that they made Mr. Mitten a tender, the street turns in an effort'to pin anything that might have been done on J. P. Morgan & Co. They point out that the Morgan interest in the Interborough is at least $200,000,000, and under certain contingencles $22 of the Berwind-Belmont group is at best not more than $67,000,000, and their equity in whatever part of the! $45,740,000 they own in the preferred stock and in the 982,62 common which is wi quoted at $6 a share, but the stock Pp th voting power of the company and the power to elect such directors as they please. 000,000, The interest shares of hout a par but ed as security for the bonds have taken carries with it the ‘At the offices of the Thterborough it was stated that, while-the officials knew nothing of the plan to bring | Mr, Mitten here, whatever financial linterest was seeking a solution of the company’s fihancial troubles would have to work through the In- terborough Board of tors, of which Mr, Belmont is Chairman. Mr. Belmont authorized the state- Army Shoes Which Were Sold at $5. 50 Per Pair’ S48 S84dS44O6H08O000600008 ARYA ING Ome. reads POF OOF29O89-99-9598800994.90-94-25:3084-0086 yeersees $99OO Brooklyn, thrifty as ever, tumbled all over itself to-day to buy Army shoes at $5.50 4 pair, At 2 o'clock this afternodn Brooklyn had bought 10,000 of-the 30,000 pairs ot the stock of the Meade Shoe Com- pany, Yo. 102 Myrtle Avenue, ‘President Meade hopes to ‘get. more ® Plate glass Windows timbled in the re- serves of the Poplar Street ahd Adams Street police stations were "The police re-formed the line, which then extended a block and a After that everybody was kept at Jeast three fpet from the bulld- ing tine and customers were let in in dotachmente of; hot more than. Fagg AND MARKET INQUIRY Formal opening of the sale began at 9 birds began to form in line as early as 6 o'clock. customers were admitted to the store in groups of thirty. GARTER GLASS URGES PATCHES ON TROUSERS TO URB PROFITEERS Tells Virginia Senate He Intends to Wear ‘His Old Suit Five Years Longer. RICHMOND, Va. Strict economy and saving during - tho reconstruction period as an o'clock. this, morning. Early In the beginning, ——— ment that the report that Mr, Mitten had been offered the Presidency of borough was “without foun- So that it seemed as if the “financial backers” of the Interbor ough had not yet taken the organt-/ zation controlling thé election of di- rectors into their confidence. | HYLAN’S REQUEST FOR BOOK) INSPECTION ANSWERED. James L. Quackenbush, Géneral Counsel for the Interbarough Rapid Transit Company, he had written an answer to Mayor liylan’s request for an inspection of the company's books. “I told the Mayor,” enbush, “that the books of the Int borough are open to him, that hey can send as many auditors as he deems necessary and will be given HARVEST. OF QUARTERS FROM WRECKED PLANE |Holds Major and Machine in His | Back Yard While Neighbors _Come to Advertised Show. AJOR ELLIOTT SPRINGS, Air Service, IS TAKEN UP BY BATTLE jens of bacon delivered late yea. ; Dr. Eugene H. Porter, Commis- sioner, First Witness Called in the Investigation, Investigation, of the activities of the | #nded at the Wallabout Market pier, State Department of Farms and } on eh aniteuten kets was begun to-day by George Gor-|those who believes that. the: a . recently appointed by Gov-| considerable excess of cold storage |™Men- Mr. Stanchfeld pleaded that the terms of the| supplies in warehouses in. this city, | B°WsPaper pubi had made # tm said to-day that | Hearings are being held| There is some hoarding for profit, he | Posstbis for his clients to get Ri | ‘That Jet the dairymen out, ernor Smith under Moreland Act, said Mr. Quack effective weapon against the prot. without the airplane in which he iteer was urged by Secretary of the Treasury Glass in an address last night before the Virginia In room No,-30¢ Hall of Records, Dr. Commissioner of| plies in storage will be needed this Foods, and Markets, ono af the two di-| winter, Ho will continue the mje of visloné of the department, was the first/ army surplus supplies as long as he York-Toronto race. Mayor Hylan’s letter was addressed where he was forced down by @ to General Manager Frank Hédley demanding an accounting since the road was opened fiftgen years ago. Ho remarked that the management may have been injudicious in its ex- penditures and that method of expending money were de- vised, the company might with a large surplus. minded Mr. Hedley that gt a recent meeting of the Board of Estimate it was shown that the Interborough had a surplus of $18,000,000 when it was “floating’ a lot of new bonds.” Of this amount that $8,000,000 had been expended in Queens trolley suddenly become worth very little in It isn’t quite clear to me Battle explained that the Gov- ernor wishes to have a complew tnveati- ation of the personnel and operation af tie department. Asked if, the {n-| S001 house supply sales will be held had any connection with, the | {0m.4 o'clock to 9 o'clock P, M. made” his report privately, but the details got all over the field before he -had been in more than half an bour, ran as follows: “T had to go down in o hurry and landed in what looked like a pasture but turned out to be & The ship landed hard, turned over Junded jn two or three places. “A farmer came out with his pitchfork and told me how bad it was for the corn, me to settle ment I couldn't do. The, preety sald he was put- ting into practice the suggestion of his predecessor, Mr. who declared that “we should use every effort to win the war, een though we wore patched trousers.” not patched,” , “but they are old enough I expect to wear this suit five years longer, if it will stand WIDOW AND SON HELD IN HOBOKEN DEATH INQUIRY Prosecutor Postpones Hearing on Shooting of Hotel Man, Slain While in Bed, The murder of Paul Wenalaff, owner | presented so many if a different high cost of Néfie, he replied that it mh 1 rotroactive, wal hoped to fake recommendations OT OF YS All these facts were before Ate looting towdHt! @ reduction in prices, M HER NINE SA < x alten He. further explained it ao OW SHE BOUGHT was-sne ouanite at cow eam sages to] © A a Riith The, erernor rer Ve-aired Gut the distribution and costs WAS UNFIT 10 BE USED from the A. elly pan far’ Rei! ‘The Mayor re- of all foods would be dwelt upon. Commisuioner Porter, who is a Whit- and who alao has served Commissioner, questioned about his business aMilations, wht out that from January, 1 he left office ax Health Com- man appointee was yhich at the mo- He was quite most of his time at Upper L where he hax @ dairy farm whi acquired about 1900, SETS NEW LOW RECORD FOR DROP IN-PARAGHUTE the achools which she sald was de-|¢han the last sale yesterday. Lard and a sudden he changed and went and got a horge and said if I would show him how to tow the machine safely we would help me to get it where it could We dragged it to a big yard bDbhind his, barn and I looking it over. While I noticed that I had” lot spectatorg and ‘more pL Ee a B. R. T. PAY NEAR DECISION. Between Com- ‘The cohfererice between the Brooklyn Rapid Transit Company officials and the employees’ committee w morning in the offices of of a ‘Hoboken hotel, ts of mystery Prosecutor postponed until e Schedtiled hearing of the sons held by connection with the crime, The police way Wenalaff was killed in bed early ‘Tuesday morning and that it His, wife ja one Lees Jumps From Plane] anything to help her have the bacon Only 153 Feet Up and Lands Safely in Bay. Major Ord Lees, late of the Royal Air Force, established « new low altitude jump record with a parachute today, Major Lee, dropped into the bay from a heighth. of 153 feet near the ‘Statue of Edwin Smith, chairman of the ployees’ committee, said he thought It fikely that the question of wages Srould be decided at to-day’s session. questions, he et bs found he had stroignea a couple of canvas haycock covers on theeside of the barn along thé road and had painted a sign in axle grease announcing that one the conference b; committeema: ‘Atalgamated Association of Street Pee: Wi workers the organization that cent strike in Brooklyn, another prisoner, formerly lived at the d had been ordered away from the place by W Of Satin OPPENHEIM.CLLINS & CG ° 34th Street—New York Offer fof Final Clearance Tomorrow, Friday, 375: Women’s and Misses’ Silk Dresses or Taffeta, some combined with Georgette in straightline, tunic and two-tier effects, featuring vestees and hand embroidery. Reduced to 12.75 ‘Toronto-New York flying machines with United States Major in charge was on exhibition’ and would be shown until further notice; ad- 25 cents for adults ¢ previous low record was Experts generally rule that than @ thousand Mrs, Wenglaff dramath the police while lly chal'enged they were tioning apse hs ag bor | parictiute drops at te: feet.are dangerous, Lt, William MeCullogh, of phe, United States Navy, who ow » electric chair and She denies that she had any reason to kill her husband or that he had any reason to suspect her, Wenzlaff was shot, but no gun has , nor has any witness been be done with it." missfon was and 10 cénts for chidre: Major Springs said he could not persuade the farmer. to let him ed two dummies from a heighth of 176 feet. water safely and then Major telephoned? to of Batavia and tary ‘came out and rescued ‘The other two prisoners are Frederick Wenzlaff, son of the Polhemus. 4 waitress, z\ait's property victim, and Carrie He estimated the farmer's net gate receipts at.$50, TRIO HELD IN DICTOPHONE CASE FOR EAVESDROPPING ' | Head of paliive’ Neate) Among | Those’ Accused-of 1 istening In in Newman Apartment. Anthony Senes, ffead of the Anthony r with his kne his hands struck the water vay and was picked up and as soon as hotgl and nother Hoboken house. $2, J F. EAGAN TRANSPORTATION CHIEF OF B, RT. SUBWAY Succeeds Vice President Dempsey, W hp Receiiey Retiréd—With NAVAL VESSELS FOR SALE. WASHINGTON, Aug, 28.— including old gunboats, converted yachts, and wbout ninety ata dardised sub- 110 foot type, will be offered for sale to the highest bid- n, the Navy De- Announcement the offices of the Brooklyn Rapid Tran- sit Company that J appointed Supe ft his operatives, partment to-day neld ‘this afternoon anp Among the vessels to eral historic ah’ F. Eagan has been etdent of ‘Dranspor- 1s of eavesdropping by rt the the Don Juan de two Spanish-Ameri~ Railways Company, which operates the ‘The trio are charged with Matening in n vacant’ since the Nathan Newman, > announcement says, PREPARE FOR GAS FAMINE. Colonists Get Ready for Ordeal. Bungalow dwellers at Sheepshead Bay were startled to-day years and has been in the 'T. system since 1904 d through all the grades of ¢ W in connection with transpor- | HHiahed In other , Who Was after so $50,000 on a « ya real xensation when it ia un- He refuses to name his client, apartinenta and that his by @ report that gus supply Was to be cut off this Saturday while a large main ts put in, purchasing canned combing the beach for firewood and set: ting up teinporary and borro In preparation far the gaa far Mixx wer of the at he hoped the work Wo or three days. unyalow dwellers are af: Woman Run Down by Auto, stoves clated. Press) ox [ment hus not No Exchanges or Credits majority of the people that be retain leadership, © MY FANN SHES TE CE SF Pai vem WOME DAY AGAINST NEW W TOTAL $90,000; MILKPR Bronx Leads. sd With, Purchases | T: kes First Step in of $34,000—Five More Evidence Against Schools Open. _ men’s League, Markets Commissioner Day this) The long arm of the United, (Morning announced that yesterday’s| Department of Justice reached jreceipts for army surplus food sold|day for New York's milk in public schools reached $90,000. This| when United States District was a 60 per cent, Increase over the| ney Francis G. Caffey, acting receipts of ahy previous day. The] orders from Washington, served Bronx bought $44,000 worth of sup- ee ne a ee plies. Brooktyn sales brought $29,000,/ mounted ¢o s demand Manhattan $19,000, Queens $11,000 and |'™formation inMr. Swann’s Richmond $3,000, : Altogether yesterday was the ban- ‘ner day. of the sale thus far, More | Acting trucks were loaded, more deliveries they made te distribution stations, | ago and all the work from shipmen rectors League Points to sales centres was edpatied: Dire for Nibewee shaiounte tae D ‘The following schools wilt be added | nelly (State) Anti-Trust Act, to the list of distributing centres to-| yyr, ‘Talley continued to-day thé exe morrow: Public School'No, 119, One Fh amination of New York Milk Contre and First Street and Amsterdam Avenue. Public School No. 90, One Hundred and 47th Street and Seventh Avenue. ‘| Public School No, 13, Adelphi Street and Myrtle Avenue, Brooklyn. Public School No. 145, Central Aver | nue and Noll Street, Brooklyn. Public School No, 69, Leonard and Nassau Streets, Greenpoint. The Public Schoo, depots bad on hand at the start of business to-day ten truckloads of supplies and 60,000 immunity he cannot be presecuted with respect ‘to any of the things: he testifies about. Mr. Talley is not tale ing any chance of giving, the big fele lows an “immunity bath.” + An interesting witness to-day was John McAuley of No, 246 Bi Avenue, proprietor of the Dairy. McAuley intimated that he was forced to joid the Conterence Board. ‘The indictment of directors of the Datrymen's League two years brought John B, Stanchfield into situation a& counsel for the * During the day seventy-two addl- tional truckloads were delivered. In addition q lighter laden with suppli was landed at @ Bronx pler ready for unloading apd another lighter was Commissioner Day is fot one of trial in’ New York County cured from pearope, Court “dul Whitaker, a change of venue 1é Oneida County, Before the cases came to friends of the dairymen got busy Albany and the Donnelly Law was so amended as to said, but, generally speaking, the sup- can get them from the War Depart- ment, If the sale extends beyond Sept. 8, when the achools open, the torney General A, Mitchell milk raisers are concerned, the of New York was helpless unless the © pare authorities came to tho ren= Asks Magistrate to Ald Her it Getting Strip Exchanged or Acting District “Aor ‘Talley this afternoon, “res! $5.88 Refunded. vania, Connecticut and Ne ham. he apent| A specific complaint against army) as well as New York.’ one N. bacon sold at Public Schools was made| therefore, is if was int ntion to-day by Mra, Mary Meaty, No, 190} Menverngy tf ean; Kast 10st Street, who appeared bo-| lighted to co-operate with ite fore Magistrate Cornellius Huth with | sentatives.” a strip of bacon purchased at one of cayed and, unfit for consumption. Shr asked: the Magistrate if he would do alge exchanged or her money refunded. Mrs. Healy said that she purchased] NEW DISTRIBUTION POINTS, con, at Public School No. 159, —_—_— ‘ hale * dit unfit] "A substitute Lat of schools in Quéshs for $5.82. When she foun unt County has been submitted by the com= for use whe sald she went baci. to the | erny ae eee ee morough’ President back ‘Mark school and asked for her money Challeliy tb Ciimiealanse of or another piece of bacon, but the re-) pay, with the urgent request that he quest was refused. have more sclioole put inte operation. i Mrs, Healy is the mothor of nino for*the distribution of low children, Her basband is unable to work because of heart trouble and she suffers from rheumatism, The only money the family has to live on she said was $16 recelyed monthly through a won in the navy, and $7 a week) mon, tian} earned by @ daughter, the advantage of the army food Magistrate Huth told Mrs, Mealy he} >ution, did not think he had any jurisdiction in the matter and advised her to bring her complaint to Dr, Day, Mar-| POUGHKEMPSIE, Aug. 28.—fale of kets Commissioner, army surplus food continued at the —_-— Stgte armory this morning brought out FOOD PRICES ARE FALLING, |*,°72"2 of buyers. At the opening last bre to thy @ Joma Show It, CHICAGO, Aus, ~Another drop in Yvo hog prices at the Union Stock Yards, where the animals fell off $1 to By Switt & Co. $1.25 per 100 pounds to-day, contributed |" TOLEDO, “Aug. 18—A receiver to to a weakened grain market, corn sag-| sell 351,000 pounds of pork stored here sing an extreme of 3 1-4 conte a bushel/by Swift & Co. and oats 7-5 Sounty Crowds Mush to Buy Army Food tn Pougbkeepate. Dressed pork tumbled, the September conducting the Grand Jury delivery opening at $40.50, Just $2 lower (tion, of the high cost of A