The Sunday morning news. [volume] (Jersey City [N.J.]) 1886-1891, 1890-06-15
MILLIONS In IT.
The Vast Street Railway Scheme OF the
North American Company.
sneciaI q il.e slgldav Mornlllq Ns.us.


Special to The Sunday Morning Nstcs.
NEWARK, June II, 1s9O.-''The North
American Company which on paper is
the largest corporation that ever entered
articles on the books of the County
Clerks Office. filed its papers this after.
noon. The total amount of the capital
stock is fixed at sa0.000000, divided into
500 600 shares at 500 each par value
The company purpose beginning bust
ness on $l2, 900. The incorporators are:-
Cora N. Williams, of Summit; Edward
| 9. Keasbey, whose residence is given as
lHorristown, and Charles L. Borgmeyer.
Railway. Mr.. Keasbey holds 100 shares
of the stock and the others ten shares
each
The business will be carried on princi-
paliy in Newark. It is that of aiding and
promoting the formation Of railway,
street railway, steamship and steamboat
| corporations: for the purpose of furnish
| ing electricity for any purpose, OF for the
manufacturing of electrical machinery
and apparatus and appliances of all kinds,
and 70 construct, or promote, or aid in
any way in the construction OF equip
| ment of the railways, steamboats, or plant
OF any such corporation and OF any exist
| ing corporations.
The company proposes to construct,
purchase and build, own and operate,
lease and sell works and property of cor
| porations, TO deal in stocks, bonds, secur-
tiles and contracts, ETC., TO act as agents
for corporations. firms and individuals
States and municipalities, in the issue OF
stocks, bonds and securities, to make
guarantees of every kind and transact
any mercantile and agency business, to
construct, maintain and operate teie.
graph and telephone lines, water works,
| gas works, oil works. manufactures OF
electrical machinery, apparatus and APP
| planes, to furnish and maintain cleo.
tricity and the application thereof to any
| purpose whatever, and to construct main
tain. and operate public and private
works of all kinds 1t wants TO carry on
the business of mining coal, iron, gold,
silver, copper and other minerals OF
ores, and The working, smelling, refining,
manufacturing and selling thereof; 70
lease railways, including street railways,
| maintain and operate the same by the
use of steam, electric and other power,
and to own and operate boats and vessels
of all kinds and to carly on the business
Of transporting freight and passengers by
land and water
An option for the purchase of the New
| ark and South Orange Horse Railroad
for 81, 200, 900 is said to be out and to have
only a few more days to run.
Several different parties are after the
line, said a man who is in position TO
know much of the doings Of the com
pany this morning. 1t looks to me as
if deal will be consummated, and that
within short time Last year the
profits of the road exceeded $50, 900. The
indications favor decided increase for
this year. The receipts of corresponding
months show surprising gains Tor this
year"
This company was assessed on $500, 600
valuations last year, the valuations being
fixed by the Tax Commissioners. The
company has not forwarded statement
OF its possessions this year. If the state
ment is not sent by Monday, the Tax
Board will again fix the valuations.