SCARSDALE, N.Y., JUNE 20 -- Wall Street millionaire Arthur Salomon was arrested on charges he shot and critically wounded a young man in a traffic dispute then fled in his Mercedes, police said today.

Salomon, 52, an ex-partner in the Salomon Brothers investment firm founded by his grandfather, was released on $10,000 bail. He faces up to 25 years in prison if convicted on the second-degree attempted-murder charges.

William Rehm of the Westchester County Police Department said Salomon, who lives in Manhattan but also has a large home in suburban Pound Ridge, fled the scene of the shooting Friday afternoon on the Hutchinson River Parkway but surrendered nearly four hours later after police traced the license plate numbers on his car. "He was cooperative, almost apologetic about the entire incident," the detective said.

Salomon had gotten into a heated argument on the parkway with a teen-ager who he thought scraped his 1977 Mercedes Benz, the detective said.

When Saloman and the youth, Gianluca Cotugno, 19, pulled off the road at an exit near Scarsdale and continued to argue, the former investment banker allegedly pulled a licensed .38-caliber revolver and fired once.

Cotugno was wounded in the right side of the abdomen and Salomon jumped in his car and sped off, leaving the young man lying in the road, Rehm said.

Cotugno of Larchmont was taken by ambulance to White Plains Hospital where he was listed in critical but stable condition in the intensive care unit after surgery.

Salomon surrendered to police at 6:50 p.m. after the 3 p.m. confrontation, Rehm said.

He was arraigned in Scarsdale and held in the Westchester County Jail until early this morning when he was able to post $10,000 bail.

When he gave himself up, Salomon also surrendered a licensed .38-caliber pistol that may have been used in the shooting, the detective said.

On Monday, he is required to also turn in two other licensed guns so police can run ballistics checks, Rehm said, adding that police are checking on why Salomon was licensed to carry the weapons.

Salomon was ordered to appear Wednesday morning in court in Scarsdale to enter a plea.