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New-York tribune. [volume] (New York [N.Y.]) 1866-1924, May 01, 1901, Image 1

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Ynl"Y nI " LX1...-V- 10,890.
TERMS OF MORGAN DEAL.
LEYLAND SHARES BOIGHT AT AD
VANCED PBICE.
SOCIETY'S BUSY DAY IN LONDON-W. B.
CUTTING'S MARRIAGE.
tCopyTlpht: lfwi: By The New -York Tribune.-)
[BT CABLE TO THE TRIBUNE.]
London. May 1, 1 a. m.— The excitement in
shipping circles over J. Pierpont Morgan's raid
on British commerce remains unnbated. A cir
cular has been issued to the shareholders of the
Leyiand company by the directors, stating that
o provisional contract has been entered into by
the chairman, J. R. Ellerman, by which he <11s
poaea of his holdings of seventy-one thousand
ordinary shares of £10 par value each to J. P.
Iforgan & Co.. of New-York, and J S. Morgan &
Co.. of London, at the price of £14 10s. for each,
wltl tutcrft
Mr. Morgan agreed to buy all ordinary shares
at ¦ s.mr.ar price, and there is no reason to
<soubt that the shareholders will accept the offer
at a eting to be held on May 7. This will
mean that Mr. Morgan will buy all the ordinary
fhares at a cost of about £1,750,000. It should
be ctated that the present capital of the com
pany amounts to £3,115,000, divided into 120,000
ordinary shares of £10 each. 141.500 preference
shares at £10 each, and £500.000 of debentures.
The price of the ordinary shares went up 10
Chining* yesterday to £14, and their appreciation
in two days amounted to £150,000. The effect of
the deal will be in the first instance to place two
American directors on the board. As to the ul
timate outcome, it seems to be a foregone con-
Lluslon that the company will in the end become
a purely American undertaking.
Ext-nsive us* was ms.de in the Parliament
lobbies yesterday of a story that an American
syndicate intended to export coal on a large
seato to Europe, and that it was bent upon se
curing control of the ocean freight business. ?ir
, her Purnesa ani other Liberals used
tment against tho export coal
duties. The Commons cannot be frightened by
alarmist tales respecting Yankee raids on tha
commercial marine, and shipowners
would be content to sell all their old ships and
then to contract for the construction of new
fleets on the Clyde and the- Tyne.
A prominent member of Parliament tells me
that the Opposition is making no impression,
ar.d that Sir Mieha^i Hicks-Beach's budget is
now absolutely safe.
London has had another busy day with many
public social events. The enthronement of the
Bishop of London at St. Paul's was a stately
and Impressive service, with a vast assemblage
to witness the ceremony and to listen to the
majestic music.
Ysaye was the conductor at the musical festi
val at the Queen's Hall, with Beethoven's over
ture "Egmont," and the "Erolca" symphony,
and the funeral march from "Die Gotterdam
rr.erung" as the main orchestral numbers, and
with Marie Ererr.a as vocalist. Lady Hall*
in her violin concerts at the Mendelssohn festi
val is well supported, but there is complaint be
cause only two selections by British composers
are performed.
H»e moat important weddin? was that r>l Will
lam Bajari Cutting and Lord Desart's daugh
ter. Lsdy Sybil Cuffe, at All Saints' Church,
which was attended by few Americans outside
of the Embassy, but by many English friends.
Mr. Cn"lne and Lady Sybil will sail for New
lerk a? th/ er.d of th» month.
Lar!\ rharle? Cavendish -Bent!n<-k opened the
E . African charity sale, at Church House.
Westminster, and Sir Henry Irving in "Water-
I r actors in a charity matinee at
thy Haymarttet Theatre.
Mariano de Ortega, Morejon and other Span
iards who have contributri to the success of the
Guildhall bow, express the hope that there will
be a Fimilar exhibition ir. New-York in another
y-ar. They assert that the Spanish collectors
and painters would do everything in their power
to assist the enterprise, and that it would be pos
sible to secure from Madrid a selection of well
known books of Velasquez. Muriilo. Goya, For
tuny and other mastere. as well as a complete
representation of living painters at an exhibi
tion in America. I. N. F.
OTHER LINES MAY JOIN TOOL.
AMERICAN. WHITE STAR AND CUNARD
FIRMS MENTIONED.
London, April 30.— 1t is understood that the
Atrsericsn Line has been in conference with
Messrs Morgan and Baker, with the idea either
of joining or rr.aking a working arrangement.
Liverpool shipping circles this morning sere
seemingly ignorant of this phase. They predict
sharp competition between the Morgan people
ar,4 the American Line.
Aside from the new combination, there is gen
eral ivity among the Atlantic steamship lines.
Two conferences will be h<ld soon. The first
will be held with a view to bring the White
Star and Cunard lines into the Continental pool.
Tha end will be a conference of the purely
Continental lines, to fix a uniform steerage rate.
This will be held in Paris thJs week.
It is said that overtures have been made to
certain Manchester engineering firms for the
purchase of their concerns by -an American
syndicate.
In a circular issued this morning by Mr. Kller
maxi. chairman of the Leyiand Line, he binds
htirsrlT not to engage either directly or indi
rectly in the North Atlantic trade, either with
the United Kingdom or the Continent, except
Imlsiwh Antwerp and Montreal, for a term of
foTmeen years, on condition that the purchasers
sell him the Mediterranean, Portugal and Mon
treal Cet-is and the business connected therewith
zt ac agreed price. Mr. Ellerman adds that he
proposes to retain his entire holding in pref
erence shares, amounting to over £150.1K30. and
fcis co-<Jlrectors will retain all their preference
holdings, amounting to £120,000. Mr. Ellerman
also offers to buy any preference shares at par
and th<»ir accrued interest, r^.
A circular issued by the secretary of the Ley
land Line accompanies Mr. Ellerman's circular.
It explains that the directors, including Mr.
Ellerman. hold £SSG,GSO out of £1.200.000 ordi
nary si are rarital, aad £314/00 out of £1,415,000
Preference capital- Several of the directors also
c trol a large amount of other shares.
DAILY STEAMERS FOR EUROPE, MAYBE.
NotMng could be learned at the office of J. P.
Morgan in this city yesterday about his acquire
ment of the Leylan-i Steanushlp Line or his con
"fflpUted purchase ef the Atlantic Transport Line.
8-ec! men were greatly interested In these deals,
however, declaring that the high freight rates de
manded by existing steamship lines formed a great
drawback to the exports o* 4merican steel and
iron, but that Mr. Morgan'B acquisitions would
probably work a reform in this direction. Sanguine
travellers, who believe in Mr. Morgans ability to
-orrn a big eteamship corr.bJne If he want 3 to, were
gredicUng a daily steamship from New- York for
Kttrop* as a speedy and certain result cf his nego
tUitif.nf • • '
Keep it always handy— the CROt'P CT'RE—
JAYXE'S EXI'ECTOR VNT.-Advt.
LOCOMOTIVE DEAL OX.
ANNOUNCEMENT OF DETAILB OF THE
COMBINATION EXPECTED SOON.
The stock of the International Pow-er Com
pany was a?p.!n In demand yesterday, and ac
complished a substantial gain in price. The
plan for the amalgamation of leading locomotive
works with the International company has been
perfected, it is und. rstoo3, and all that, re
mains is tho forma! announcement of it. which
will bo made in a few days. Interests identified
with come of tho. principal railroad systems of
the country have lat'-Iy been extensive buyers
of International st< ck.
Tho question of capitalization id not yet set
tled, but it is believed that the total amount of
stock to be issued will be well up in the millions.
A prominent Wall street banking iirm is re
ported to be arranging the financial details. As
soon a.< these have been competed formal an
nouncement ¦•ill be i:iadr of the scheme as well
as of the purchase of the- Rogers locomotive
plant, at Pat rson, N J.. which was recently
acquired by International Power interest':.
DRUGGISTS U7Y .4 FIGHT.
THE HEALTH BOARD YIELDS ON TELE
PHONE TOLLS FROM CULTURE STATIONS.
At a recent meeting of the Kings County
Pharmaceutical Society. David Master, Jr.. a
prominent druggist of Brooklyn, speaking on the
BUbJect of culture stations of the Board of
Health, said that by a recent order the druggist
who kept a station was forced to call up the
Board of Health each day to report If any
cultures were to be returned. This meant an
expenditure of over $30 a year on the part of
the druggist. Mr. Master moved that the secre
tary be Instructed to inform the Board of Health
that if members of the society were obliged to
pay the telephone tons in obeying the board's
order, the members would refuse to keep the
stations. The motion was passed unanimously.
Mr. Master last evening at his drug store, at
Seventh-aye. and Presldent-st., Brooklyn, told
a Tribune reporter that because a number of
druggists had refused to take the cultures in the
circumstances and on account of letters of pro
test sent to the board, the latter had receded
from the position taken in the matter. The
board has selected seven or eight drug stores as
main stations at which a messenger from the
Health Department calls dally. Sub-stations
have also been established, but they must make
returns to the main stations. By this arrange
ment the Health Department will save about
$1,800 a year, which it has heretofore cost to
telephone the various stations daily to learn
whether or not the tube collectors should call
for cultures.
Mr. Master said the druggists had been hand
ling the cultures simply to accommodate physi
cians, and the Health Department, and, as it
was done without remuneration, it was sur
prising that the Eoard of Health should expect
them in addition to pay telephone charges. In
his own cas<-- [t would amount to ?t>> or ?8O a
year. If the Board of Hi ilth had not receded
from Its position it would not hav<> a culture
station at any drug store In Brooklyn. As it
wa?. the druggists had to do their own wrapping
of diphtheria culture tubes and sputum cups for
typhoid and for blood tests.
Mr. Master added that the tubes were formerly
brought to the drug stores in wooden boxes, but
it was dangerous the way they were now
brought uncover d. The boxrs, it .\at »uppoß*-d,
wera away with on the-ground of economy,
but the department should at least supply en
velopes. As they did not, the druggists had to
supply paper to. wrap-up th« tubes. One physi
cian drove up to Mr. Master's drug store not
long ago, and handed him vhat was supposed
to be a "loaded" tube of diphtheria cultures.
Mr. Master called the physician's attention to
the fact that the tube was empty. The physi
cian hastened to his carriage, where he found
t';.c- cultures, \vhi''h had dropped out of the
tub".
nrXAWAY KNOCKS DOW\ ARTIST.
A BROTHER riF ASSEMBLYMAN ADLER RE
<-FIVES POSSIBLY FATAL INJURIE&
Marcus Adler, fifty-four years old. an artist,
living at No. 133 East One-hundred-and-thlrd-
st.. was run Sown at Third-aye. and One-nun
dred-and-third-st.. last night by a runaway
hors* 1 and possibly fatally Injured. One lep
and his skull wore fractured. II" was taken
to his home in a Harlem Hospital ambulance.
The injured man is a brother of Assemblyman
Charles B. Adler.
The runaway hor:?e was driven by Nicola Pl
sarcra, ">f No. 00 East Broadway. At One-hun
dred-and-second-Bt. the wagon hit th<- i>ur plat
f< :m of ¦ crowded electric car, but did no dam
age. -V One-hundred-and-third-st. the wagon
was smashed wgainsi an elevated railroad pillar
and Mr. Adler, '¦.!)" was crossing the avenue,
v.as run over. The driver v.as arrested. A po
liceman stopped th^ runaway at One-hundred
and-fifth-et.
VIATIROS HITS A UFRCR \\T.
IT CAME CRASHING THRorGIf THE SKT-
I.TOUT OVER iirs OFFICE FROM A
WINDOW ABOVE.
Robert Palmenborg. forty yearn old, fl member
of the firm of .1. li. Palmenberg*s Suns, manu
facturers of artificial figures at No. 7K> Broad
way, had ft narrow opcape from serious injury
yesterday afternoon, when a twelve pound fiat-
Iron crashed through th«» skylight above him and
struck his head a glancing blow.
The firms office is an extension at the rear
of the building. On f-no side the building No.
7<>S rises up several stories. There are several
side windows, and some of th* floors are occu
pied by clothing manufacturers.
I'almenberg was seatc-d In h's office reading a
paper when he v.as startled by the crashing of
glass and was struck by tlv- fiatiron. Patrol
man Corcoran sr-nt to S.t. Vincent's Hospital for
an ambulance. Dr. Merrill dressed the wound
ard ser.t his patient home. Palmenberg lives at
No. 228 West Ninety-first-st.
The police believe that some one had rested
the iron on a window sill and that it accidentally
dipped and fell through th" skylight.
MAX REGIS SHOT IX A RESTAURAXT.
AI.OIKRS JEW BAITER TN A FICSHT -SEVERAL
PF.nSONS INJXTRKD.
Algiers, April 30.— Max RCgis, the anti-Semite
Mayor of Algiers, and the Editor of the "Re
vanche dv Peuple." each of whom was accom
panied by friends, had a battle in an Algiers
restaurant to-day over statements which M.
R6gis had circulated regarding the editor. The
furniture of the restaurant was hurled about,
and then pistols and knives were used. M. Regis
was hit in the head by two bullets, and his
brother and two friends were also shot, none of
them, however, seriously. One combatant was
stabbed twice, and Is believed to be dying. Vari
ous non-combatants, who were dining in the
restaurant at the time, were injured.
ITALY SOT TO RESTRICT STRIKES.
Rome, April Slgnor Giovanna Glolitti, the
Italian Minister of the Interior, announced to-day in
the Senate that the government would not interfere
in the present strikes, as they constituted a move
ment to improve economic cer.dltlor.F. Any mis
take' mtiie by the f ¦•>err.:r.*r.t might have serious
consequences.
NEW-YORK, WEDNESDAY. MAY 1. 1001. -SIXTEEN PAGES.-^^ffi^AiSi.*-.
ALL RECORDS SURPASSED.
OVER THREE AND ONE HALF MILLION
SHARES SOLD ON STOCK EXCHANGE.
VAST VOLUME OF BUSINESS SORELY TAX
ING PHYSICAL POWERS OF BROK
ERS AND THEIR CLERKS.
Thope people who have been predicting for
months that the prevailing upward movement
In the price of stocks must speedily come to an
md are hnvlnir to wait 8 Wean' while for t v .
j>rivl!«ge of eaying: "I tolJ you bo." There cer
tainly were no signs in yesterday's amazing
total of transactions on the Stock Exchange
that the top of the market had been reached. On
the contrary, despite heavy realizing sales, val
ues were well maintained all along the. line,
many stocks made decided advances, and sales
reached the unprecedented figure of over thr
and one-half million shares Many hrokers of
long experience declared that no such market
as yesterday's had ever been known. In th»
very first hour the sales exceeded o nt rnilltori
shares, and the efforts of brokers to execute this
overwhelming flood of orders caused abnormally
wide variations of price on the opening transac
tions. In general, however, the buying force
was sufficient to absorb the avalanche of realis
ing sales and drive prices ever higher.
Buying orders from outside thf- city were es-
tlmated at fully one-haif the total. They came
pouring in from Europe, from Canada and from
almost every State in ih^ Tnion. Under this
plethora of customers broken grew particular,
and all orders were carefully scrutinized. Peo
ple who wanted to trade on small margins were
no longer welcome. Many brokers on the Boor
shut down on stop orders altogether!
Specialists had more than they could attend to,
and some of them advertised or announced that
they would take no orders after the opening of
the market. In some other Instances special
ists declined absolutely to execute orders in th^
face of the excited market Many orders were
rejected by commissi n bourns if the customers
were not considered such as could be relied on
to increase margins whenever called upon.
Trading In small lots was frowned upon. Lots
of one, t vo and three thousand outnumbered the
one hundred share lots ten to onr. The official
reporters lost many transactions because they
were physically Incapable of keeping pace with
the rush of sales. One old broker was asked
yesterday, "Well, what do you think of it? 1 '
To which he replied by) throwing up his hands
and exclaiming: "I've quit thinking of it!"
Many of these brokers are making enormous
Incomes these days without departing at all from
their regular commission business. Three or
four members of large arbitrage firms have re
tired recently on fortunes which seem to satisfy
even a Wall Street man, and five or six hundred
other men are earning incomes at the rate of
£200,000 a year. Seats on the Stock Exchange
have doubled in value within twelve months,
and if this boom goes on much longer will be
selling at £100,000 each, it Is confidently pre
dicted. Men in more humble capacities are
profiting also, for the demand for bookkeepers
in brokers' offices is unprecedented. Clerks and
accountants are working there eighteen hours
a day without catching up with the day's busi
ness. Mercantile bookkeepers are not of much
use in such an emergency, and it may happen
that the volume of outside orders will have to be
curtailed in some houses through sheer inability
to keep the accounts untangled. The baths in
the basement of the Produce Exchange are
fairly crowded after the close of the Stock Ex
change with brokers dripping perspiration at
every pore.
The brokers appeared yesterday to be some
what more familiar with their new quarters in
the Produce Exchange, but at best the floor
space is sadly cramped for the transaction of so
much business, and the jostling and bumping
is most annoying, but quite unavoidable. "We
would better have hired Midison Square Gar
den!" exclaimed one disgusted broker. So in
tense was the confusion, the howling, the scram
bling-, the pushing, the yelling end the general
hurly burly yesterday that some of the more
timid brokers declined to venture upon the
floor at all, while crowds of men. women and
children were attracted to the Exchange by the
din, which could bi» heard a block away. i
The work of pulling down the old Stock Ex
change is proceeding rapidly, and in order to
raise funds for the new building the -York
Stock Exchange Building Company yesterday
mortgaged the site of the new Stock Exchange
f-.r •-','-;.2<> '."00. The Bowery Savings Bank, .ad
vanced $2,100,000 an<l the Title Guarantee and
Trust Company, as . trustee. 100,000. -:.:.• The
loans have fourteen years to run. The title com
ARMY OFFICERS WHOSE RANK WAS AFFECTED BY RECENT CHANGES.
pany's loan bears interest at 3*i per cent, while
the Interest on the bank loan is not given in the
mortgage. The mortgage covers No. 10 to IS
Broad-st.. No. 4 to Id New-at, and No. 13 Wall-
Bt., fronting m 7 S feet In Broad-st.. 152.10 feet
in New-st., and 14.8 feet 'n Wall-st.
NEW ROUTE TO THE COAST.
VANDKRRILT CONTROL OF UNION PA
CIFIC NO LONGER DOT'rVTED.
; STRUGGLE TOR A MAJORITY OF THE STOCK
BELIEVED TO HAVE TERMI
NATED AT LAST.
There jp<-m"d to he no longer any doubt left in
Wall Street yesterday that Vanderbilt Interests
bad at last acquired control of the Tnlon Pacific
Railroad. The effort to buy a majority of the
stick has made itself apparent daily on the
Stock Exchange for some time. So brisk has
bees the contest that the shares have advanced
L'T point? In the last two weeks. The ad
vance suddenly ceased this week, and was im
mediately followed yesterday by a sharp ris*
In New -York Central, which -noved up 7 l *
points. Union Pacific's outstanding common
stock amounts to $95,9ft1.'000t and Its preferred
stick Is :? I .'!'."' I *U >< * 1 . The recent deaths of two
t'nion Pacific directors. J. W. Donne and G. Q.
Cannon, threw a large amount of Its stock upon
the market, and this made purchase of the con
trol possible.
A battle for It was evidently at once begun,
and Wall Street has been guessing for some
time as to the identity of the opposing powers.
In these days it has become a common thing
for the c-ontrol of important corporations to
change hands without their officers and directors
knowing anything about it until the transfer
has been completed It was said that Chicago
Interests, like Marshall Field and N. B. Ream,
who had been associated with Mr. Doan<\ were
heavy buyers of Union Pacific stork, hoping to
g'--t a voice in Its management
On the other hand, the success of the Purling
ton deal primed to W. K. Vanderbilt as a prob
able buyer of I'nion Pacific stock, if merely for
the purpose of protecting the Chicago and North
western. The logic of that situation was so
convincing that when it was reported the other
day that Mr. Vanderbilt proposed to eomhin"
the Chicago and Northwestern with the I'nion
Pacific it was readily credited.
It now seems certain that the Vanderbilt In
terests own enough I'nion Pacific stock to effect
this combination without delay, and thus secure
an unbroken connection from New-York to *he
Pacific Coast. This is consequent upon the well
known fact that I'nion Pacific owns the South
ern Pacific, which. In turn, controls the Central
Pacific. The Vanderbilt through line from New-
York to San Francisco will, therefore, consist of
the New-York Central to Buffalo, the Lake
Shore and Michigan Southern and the Michigan
Central from Buffalo to Chicago; the Chicago
and Northwestern from Chicago to Omaha, the
Vnion Pacific from Omaha to Ogden and the
Central Pacific from Ogden to San Francisco.
THE CENTRAL AND N. V.. O. AND W.
It was reported in Wall Street yesterday that
efforts were being made in London to secure the
control of the New- York. Ontario and Western for
New-York Central interesta. The sto-k of this
company Is largely held abroad, but It is generally
believed that New-York Central interests will soon
be the chief owners of the property. In the last
few years the company has become valuable
through its ownership of anthracite coal mines,
and it would prove a valuable asset to tha New-
York Central.
SFRIOT>: FIRE AT s\X JTAN.
PIER AND STORES DESTROYED. AND CUS
TOM HOUSE THREATENED.
San Juan, Porto Rico. April SO.— The new
5150,000 pier here caught fire this afternoon, and
was totally destroyed in half an hour. A large
stock of sugar and rum was lost in the fire. The
value and quantity of the goods destroyed are not
known. The fire continues to rage, and threat
ens to spread to the stores of the custom house.
Lives may have been lost, but this is not yet
ascertained. The fire started fifteen minutes
after the steamship Ponce saMed for New- York.
; UN; NOTHINO JUST LIKE IT.
The scenery, grand and beautiful, the track
smooth, the cars dean and comfortable, the time
last, the trains frequent, make the New Torlc.Cen
tral the paaeenger line to the West.— ¦
GOMEZ OUT OF THE RACE.
THE CUBAN CONSTITUTION WON'T BE
CHANGED TO MAKE HTM ELIGI
BLE FOR PRESIDENT.
From a statement made yesterday by General
Domingo Mendez Capote, chairman of the Cu
ban commission which Is now in this city. It ap
pears evident that Maximo Gomez will not be
the president of the new Cuban republic. In
stead, as printed In The Tribune yesterday, T.
Estrada Palma. who was the head of the Cuban
Junta in this city during the war. ts the favorite
candidate for this office.
The three men who have been' chiefly- —.»-.
tioned for the presidency, according t-> Senor
Capote in his talk yesterday with a Tribune
reporter, are Generals Gomez. Palma and Masso.
With Gomes our of the rac» the con*»st now
lies between Palma and Masso. and. according
to those who are familiar with the Cuban situa
tion, the nomination and election of General
Palma ar? practically assured. Both Senor Palma
and Seflor Masso were leaders in the war against
\ Spain for Cuban I-d^ppn^ence. and thus have
the support of the common people. But General
Palma is also said to have the support of the
moneyed and industrial classes, and would prov*
a more acceptable candidate.
Th» question as to whether General Gomez
should be the president of the new republic has
been s subject of endless debate and discus
sion throughout the West Indies. Inasmuch
as General Gomez was born in San Domingo, he
could not be elected president under a constitu
tion which proTlded that the chief executive
should be native born. Hence there has been a
campaign led by the friends of the general to
insert a special provision in the new constitu
tion which would permit of his election. This
provision, however, it is said, will not be made
a part of th» constitution, thus rendering Gen
eral Gomez ineligible.
When asked about the candidacy of General
Gomez. Senor Capote said:
"It is too early to talk of candidates. We
must first decide upon our constitution."
"Will the constitution provide that the Presi
dent shall be a native born Cuban?"
"I believe that it will." was the answer.
"Will that not exclude General Gomez?"
The chairman of the commission here gave a
shrug as if the question was unnecessary.
' T- not General Palma a candidate?"
'.'Of Sefior Palma I do not wish to speak. It Is
too early, too early."
"But has h" not the support of nearly all the
classes of Cuba?"
"Yes. he has." was the answer. "There Is an
abundance of good feeling for him. He might
make a very strong candidate."
"What candidates have been mentioned?"
"Generals Palma. Gomez and Masso."
"Is not General Palma a stronger candidate
than General Masso?"
•Yes. I think he is."
"And General Gomez is cut of the race?"
Here again General Capote shrugged his shoul
ders nonchalantly.
"When will your report to the convention be
ready? "
"We expect to draw it up on the steamship
on our way home."
"Have you not fully decided on the pro
visions?"
"Not all. but I must, not speak of the report
now; it is too early."
The five commissioners were visitors yester
day noon at the Produce and Stock exchanges,
where they were heartily greeted by the brokers
with a "Cuba Libre!" They took luncheon with
R. A. C. Smith, at the Lawyers" Club, and din
ner with Sefior Martinez, at the Down Town
Association's rooms. In the evening they were
entertained at the Metropolitan Club.
They will sail to-day at 3 o'clock on the steam
ship Havana, but they are to be the guests of
the Chamber of Commerce at a luncheon to be
given at 12:30 o'clock. They will spend the
morning hours in going through the plants of
the American Tobacco Company and in in
specting the subway.
They expect to have another conference wltn
General Palma before their departure. It is said
that he will accept the candidacy if It t3 shown
that his support is sufficiently strong.
"General Palma is a modest rr-an." said one
of the commissioners, "and wi'l not accept this
candi.-! without due consideration."
PALMA AND THE CUBAN ELECTION.
THE ADMINISTRATION ivir.r. NOT INTER
FERE IN THE CHOICE OF PRESIDENT.
Washington, April 30 (Special).— The members
of the Cabinet now in Washington want it
known that the alleged movement started by the
five Cuban Commissioners representing the Con
stitutional Convention at Havana to elect Gen
eral Estrada Palma the first President of the
Continued on second pace.
PRICE THEEE CENTS.
NO DECISION' ON BRIDGE.
LONG HEARING i>\ K'l.L. RT'T NO TT LJ
AS TO UUfVNUm ACTIOX
LARGE DELEGATION OPPOSES 3i"EAST"Rr
WITH BRIEFS AND ARGUMENTS-PROM
ISES OF ITS SUPPORTERS
[BT TEIX^RAPn TO THE TRIBEXS.]
Albany. April 30— "This Is a bill of Ulgh im
portance." said Governor Ddell to-day, after
li-jtenlng to arguments for four hours on the
New- York and New-Jersey Brtdg* bill, "and I
shall give careful consideration to what has
been said about ft." Thus the Governor termi
nated the hearing, and he afterwari said: "I
shall not make my decision upon the measure
known to-night."
For four hours tfce Executive Chamber had!
been a courtroom in which Senator Raines's
bill authorizing the N-w-York and New-Jersey
Bridge Company to construct an approach to
the great bridge contemplated, along West->'
from the Battery to Fifty-ninth-st.. had been
on trial for its life. The targe room was crowded
with persons interested in the fare of the bill.
Seated at his fctj desk on the east side of th«
room was Governor Odell. who had listened pa
tiently hour after hour to the arguments on the
measure, only Interrupting the speaker* with
questions on two occasions.
The questions of the Governor must have indi
cated somewhat Hjs sjsjertss that w«ra in his
mind about the bill. Botn of these questions
were in relation to the tasja] character of th-»
marginal wharf property cf the city, whether tt
could be regarded as part cf West-st. The sup
porters of the bill argued that it was not a
part of West-st.. but a strip of land merely, and
therefore that the consent of local authorities,
under the constitution, was not necessary to tha
construction of a railroad upon it. On the other
h?.nd. the representatives of the city present
argued that it was "a marginal street." and
therefore the consent of the city authorities was
necessary to the building of a railroad upon It.
The Governor's questions led many present to
think he believes the Dock Department is the
local authority controlling this land.
EX-MAYOR HEWITTS OPPOSITION.
Those who appeared against the bill wera
President Alexander E. Orr and Edward ¦
Shepard, representing the Rapid Transit Com
mission: Controller Coler. President Guggen
helmer of the Council, and Corporation Counsel
Whalen. representing the city authorities. A.
Foster Hlggins. John H. St--in and Stephen "W.
I Corey, representing the Chamber of Commerce;
! William F. King. Henry W. Goodrich, Arthur J.
! Baldwin and Frederick W. Hlnrichs. represent
! ing the Merchants* Association: Horace E. Dem.
ing. of the City Club; Adolphe Openheym, and
John De Witt Warner, of the Citizens Union? •
William McConnell and L. J. Callanan. of th»
New-York Board of Trade and Transportation,
H. R. Kunhardt. W V. Nichols and C. A. Grls
com, jr.. a committee from the Martlme Asso
'¦ ciatlon of the Port of New-York, sent a stroasj
protest against the measure.
It will be observed that the city authorities.
the non-partisan Rapid Transit Commission and
the greatest commercial bodies of New-York In
\ terested in the development of its trade with
the Western States over any Hudson, River
i bridge felt forced, nevertheless, by the nature o{
I the enactment, to appear before the Governor -^
and. protest against his signing the bill. What
I -¦¦> especially a harmful feature of the bill
! in the eyes of most of those who opposed was
' its provision that the franchise granted for the
construction of an approach should be a per
: petual one.
A letter was submitted from <»x-Mayor Abram
¦ S. Hewitt, in which h* said that careful con
sideration was given, while he v.-as Mayor. fta
; the proposal to build an elevated road on th»
marginal street along both the East and North
rivers for the delivery of freight at the piers.
but tha; it ha,l been demonstrated that such a
j track could not be used for freight to any ad
'' vantare. Engineers of the Dock Department in
I reports showed "conclusively that an elevated
structure designed for the receipt and delivery
of freight alor.? the marginal streets would en
tirely fail to accomplish the end in view." In
concluding his letter. Mr. Hewitt further said:
"The granting of irrepealable privileges or of
any, franchises which do not come under the di-,
rect supervision and control of the city author!-,
! ties will be certain to work irreparable mischief."*
! CAPITALISTS READY TO INVEST. HE SAYS.
The chief speaker in behalf of the bill was «i-
Governor George T. Werta of New-Jersey.
Speeches in its favor were also made by Senator
Raines. Burton N. Harrison and Albert Hen
schel. James S. Clarkson. president of the New-
York and New-Jersey Bridge Company, was)
present, but he SBSjdi no speech. There was
alsc present H. R. Dumont. who. it has been >
said, has sought industriously to Interest capi
talists in the bridge enterprise.
Senator Raines, who made the first speech for j
the bill, criticised the commercial bodies of New-
York for opposing the act. although they wer»
willing to expend J63.000.000 on a barsre canal. ,
In his opinion, the bridge would bring fai more !
commerce to New-York than a barge canal.)
Senator Raines also read a letter, which he de- j
clared was written by Charles J. Canda to Con- j
troller Coler In relation la the bridge project, la!
which Mr. Canda. so Mr. Raines stated, said:
I am informed that you have stated to in
fluential parties that there is no money behind
the bridge project; not a cent. I have stated to .
you. and I now repeat it. that when you and I
«hall have agreed upon the terms under which >
the city may grant the approaches required I
shall immediately giv? |«l the evidence that
capitalists are ready to undertake the construc
tion.
Controller Coler. in reply to this statement **y
Senator Raines, said that as a member of the
Sinking Fund Commission he had always op- i
posed the granting of this bridge approach or
like franchise to a private corporation. He had
the impression after talks with those desjrou3
of obtaining this franchise that the Hanover
National Bank and Mr. Krech. of the Mercantile
Trust Company, might be the capitalists referred
to as behind the bridge enterprise, but he hail
found upon investigation that he was mistaken.
COMPENSATION DECLARED INADEQUATE.
Ex-Governor Werts made a carefully prepared
argument in favor of ;he bill. He gay« a history
of the New-York and New-Jersey Bridge Com
parsy from the day of its incorporation, and also
an account of legislation at Albany and at
Washington in Its favor. He described the bill
as one of international irapcrtar.ee. and argued
it should not be considered wholly from the
point of view of New-York'3 interests. He then
dwelt with especial emphasis on an argu it
that the land to be taken along the river front
of New- York was not a part of a street. The
bridge company was willing to make ample com
pensation to the city for tee privilege of rulld
ing the approach on the marginal str*et. but
could make no agreenr- with th? Sinking Fend
Commissioners.
"You take the docks, do you not?" iiifljotoe*
Governor Odell of Mr. V-r-
"Yes." answered Mr. Werts. "but before we
can build a sr>ur on a dock we should have to
THE SANDY HOOK ROUTE
Will be opened for the season on May 6th. The
Steamer "Mor.mouth" will leave New- York. Pier S.
Nonh River, foot Rector Street, at 10:00 A. M. and
4:30 P. M.. arriving »t New York a: 3.<S A. iL and
3:50 P. Advt.

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