The daily gazette., 1880-12-31
City Railway Extension.
TWO BRANCHES PROPOSED - WHERE
THEY WILL Ex TEND.

=
THEY WILL EXTEND.
The long-talked-of extension OF the
Wilmington City Pass niger Railway is
now taxing dehuite shape in an earnest
effort for the required stock suLscrip.
tions. The amount required fOI the
work 10 sac, 900, divided Into 5000 shares
Of s. each. This stock, in order to Sc
cure the construction Of the proposed
branches, was 70 have been subscribed
to by January 1st, 1881, but the time
will bs extended. Mr.. Il. II. Foster is
now soliciting subscriptions, and his
mission Is assisted aud explained by the
following circular:
DEAR SIR: The Wilmington City
Railway Co. propose To build city
railroad from Market street 10 Monroe
slrset on trout street, up Monroe street
TO Fourth street, out Fourth street to
Union street, provided sufficient stock Is
subscribed for that purpose; said stock
TO be issued at So per STARE aud TO par
ticipate In The general profits Of the
company after hve years. This offer
expires ON January LIST. The cost of
the oad will be from $4,000 TO $780,
900. You, with all other property hJl-
ders IN that section oi the city, are inter
essed In this project being carried Ou,,
aud you are requested 10 consider the
expediency OF subscribing proportion
ate amount according TO your interest.
Prompt action will be necessary # the
road 10 10 build.
The stock of the old company Is now
worth about par, aud the new stock Will
not be bad investment In the end, oil
the terms offered, which is thought ~
be q very fair proposal. Please cali on
one Of the following persons, who are a
committee to receive subscriptions, and
who will make all necessary arrange
ments
j. u. Il. POLK,
JAS. BRADFORD,
PHILIP PIUNkETT,
GEO. w. BUSH,
NJ. NJ. CHILD, Trustee
JOSEPH PYLE.
In addition to the extension mention
| ed 10 this circular, which is designated
as the low line, another, to be called the
upper line, Is also proposed, 10 com.
mence at Tenth aud Market streets and
| extend out Market street not more thar
ona mile. A rumor became current
! that this line was To run 10 the Brandy
| wine bridge by way Of Tenth and Kin,
| streets whereat people along Make
| street, who had subscribed 10 the eXten
| sion fund, became somewhat worried
/ and resolved TO surrender, their subscrip
/ lions. The rumoI is denied, however
by Mr.. James Bradford, President O
the Wilmington City Passenger Railway
| Conipany whs says that Market stree
has been selected as the route of the up
Der extension, aud will not Le le,iaied
from. So the subscribers along Market
street can rest easy ON this score.
Mr.. Bradford is hopeful that sufficient
stock will be subscribed TO contruct botl
lines particularly the lower line. He
feels confident they will boneiit u II only
The people in general, but property all
along the routes. The cost, he think'
would be about 81 per foot TO properly
owners on each side of the street, anC
he feels confident that the improvement
Of property and the increase % genera
business would, in very short time re
pay those who subscribed, even lhougl
they received no returns for then stock
On theis point, however, there is a rea
sonable probability that the stock viii
eventually prove remuneratlNe. Fo
awhile the stock of the City Passenge
Railway Company sod as low as 81 ant
81 30 per share but 1t has been steadily
advancing, and last week two hundred
shares sold at par-S5 pei shore. b.
he terms Of subscription, the new stock
in five years, will participate In the gen
eral profits of the Company.
In case the lower line is constructed
10 proposed to eslablsh depot al Fourtl
aud Union streets, and make a route b.
tween this point and the 7. W, n b. d
K. depot.