Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-04-19
SIX TO BECOME ONE.
MAKING PREPARATIONS FOR THE
STReET-cAR CONSOLIDATION.
The Three EIectric-Light Companies Make
the First Move-Eicctricity on
Main stree.

Messrs. George +. Fisher and Gibson
Putzel arrived IN the city yesterday morn
ing from New'York. and early in the after
noon attended a meeting of the stockhold-
ers of the Richmond Railway and Electric
Company.
They practically constituted the meeting
which was held in the Union Passenger
Company's Bank-street Office, where sew
ernl other companies whose properties are
10 be embraced in the combination which
is now being effected, also have their head
quarters.
The other persons present were Messrs.
Wyndham X. Meredith and Andrew Piz-
zini Jr. Mr.. Fisher presided, and he and
Mr.. Putzel executed the programme. W hich
bad been pretty well arranged before
hand.
WHAT WAS DONE.
AZ foreshadowed in the Dispatch of yes
terday only routine business connected
with the minor details of the consolida-
ticn, with every phase of which the read
ers of this paper are familiar, was trans
acted.
No step was taken to perfect the organi-
zation Of the company begun at meeting
held here about ten days ago. In the
present stage of the proceedings it il not
necessary that the corps of officers shall be
chosen Just yet. II may be several weeks
before they are elected.
After the adjournment of this meeting,
which was O short one, Messrs. Fisher,
Putzel. and Meredith repaired to the Office
of Mr.. Joseph Bryan, where private con-
ference was held and many points con-
nected with the gigantic transaction now
well under way and being urged to speedy
conclusion were discussed.
THE LIGHT COMPANIES.
The only action of any Importance taken
was to inaugurate steps looking TO the
transfer of the stock of the Virginia,
Schuyler. and Old Dominion Electric Light
companies to the Railway and Electric
Company. The action taken was only pre-
liminary and will have to be supplemented
by certain court proceedings.
Meetings will now be held al frequent
intervals until the deal is entirely consum-
mated.
THE MORTGAGE.
My principal business here" remarked
Mr.. PutZel to Dispatch reporter yesterday,
'is to submit to tho Virginia lawyers the
form of mortgage which we have drawn in
New York in order that they may see
whether it conforms strictly to the statu-
tory requirements of your State. This
mortgage will be on all of the pro
perties embraced in the consolida.
ZION and will take the place OF
the present mortgages on the separate
properties. Just in the same way the
consolidated bonds will be issued in lieu OF
the outstanding individual bonds of the
different companies. The form of the
bonds is being prepared and will be placed
in the hands Of the engraver next Monday
or Tuesday. they will be ready for de.
livery by the 1st of June and not many
days before that time"
EIECrRICIrY ON MAIN STREET.
Mr.. Putzel says Just es soon as the con.
solidation, which il is generally conceded
has progressed very well indeed, Is entirely
consummated the contract for equipping
the Main-street line With electricity will bt
awarded. Tho system TO be adopted on
that road has not been decided upon nor
is it likely that it will be until the com.
pany is ready to receive proposals for
equipping the line. The poles are already
up. but the Council is talking about order.
ing them down if there is much longer de-
| lay.
Mr.. Putzcl thinks the work can be done
| In two or three months.
The Sprague system will, of course. bt
continued on the present electric line, anC
the light motors now in use are to be sub
stituted with heavier ones.
The equipment of both roads is TO b'
| improved. and the public is promised
better service than has been furnished TO
very long time.
Mr.. Putzel returned TO New York las
night. but Mr.. Fisher will remain here sew
elal days.