Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-05-06
SIX TO BECOME ONE.
CONSOLIDATION or THE STREET
CAR AND ElECTRIC-liGHi
COMPANIES.
The Board of Directors Authorized to Ac'
quire the Properties-That Donoi'-
Construed Contract.

Another step. ana very hnPo'
too. was taken yesterday in the matter Oh
carrying out the scheme for consolidating
the Richmond Street-Railway and Eiectric-
Light companies.
It was the adoption by the stockholders
of the Richmond Railway and improve
ment Company Of a resolution authorizing
the Board OF Directors to acquire the pro-
perties of the present corporations ana 10
issue bonds wherewith to provide for the
payment for the same.
The MEETING.
The meeting was held at the offices OF
the Union Passenger Company on DAM
street. 40,
Mr.. George L. Fisher presided, Mr.;
Donald B. Toncey acted as secretary, ana
Mr.. Gibson Putzel directed the execution
of the little programme that had been
mapped out before these three lett Ne"
York.
Messrs. Wyndham r. Meredith and Frank
W. Christian, the company's Richmond
counsel. were present, but not as STOCK,
holders. The three New Workers yoted al
the stock, having been provided Win tne
proxies.
DIRECTORS CHOSEN.
One of the first things done was to select
six directors. These were agreed upon p.
some two weeks ago at preliminary meet
ing held here and their names were puo-
lished in the Dispatch at the time. Iney
are Messrs. George +. Fisher, Donald Is.
Toncey, Gibson Putzel. ID. II. Houghta-
ling. and DR.. John p. Num-, OF New iork,
and NIr. Wyndham X. Meredith, OF tnis
city. -
After adopting the resolutions referred
! to, authorizing the purchase OF the seyeIai
/ - Lo .raoaA flQ rom Dlnp.
the meeting was adjourned over W neA'
| Monday.
THE COMPANIES TO ACT.
All of this business is mere tormelity.
IL but arranges the details OF a gigan-
tic transaction, the general terms OF which
were agreed upon before application was
made TO the General Assembly at ITS recent
session for a charter for the consolidation
company and for amendments TO the char-
ter of the street-car companies.
The conditions of the combine have oeen
yerv fully presented TO the readers OF this
paper. The new per cent. bonds to be
/ issued are now in the process OF prepara-
ton and Will probably be ready for de-
| livery by juno lst.
The Circuit Court has so amended the
| charters of the two electric-llght compa-
nies incorporated by Judge Wexford as 10
authorize them TO transfer their STOCK ana
bonds. and the stockholders Will be called
| TO meet very soon, perhaps next Mohuay'
| to authorize the transfer.
| The stockholders of the Union Passenger
| Company meet next Monday, May 18th, Tor
| this purpose and meeting of the City
Railway Company will probably meet with
| in the next two weeks TO carry out tneir
part of the programme. The action OF this
| company Will also apply to the recently
purchased Marshall-Street Line, which has
valuable franchises IN Manchester that are
soon to be made available.
THE RIyER-vIEw CONTRACT.
Just before the meeting Of the Railway
and Electric Company was held The Board
of Directors of the Union Passenger Com
| uany met in the Bank-Street Office. Those
present were Messrs. Fisher, Toncey, Put
eel, Meredith. Captain A. Pizzni. DR., and
| DR.. ". II. Scott.
There was produced and read draft Of
| the contract between Mr. Fisher and Mr..
r. b. Chaffin, president Of the Riyer-View
| Company, relative to the material for the
| latter company's track on Meadow street.
! This was approved and the President was
directed to make tender OF the material
| called for in said contract.
The paper passed upon was not the origi-
nal memorandum OF contract between
| Messrs. Fisher and Chafiin, which was
| written by Captain PizZini and signed by
these two, but a slightly modified form
with changes said not to be of a material
| character.
WILL HARDLY BE SIGNED.
A copy of this contract was or will be
presented to Mr.. Chaffin, but it is not
| tikely that it will be signed, as it places a
construction upon the agreement between
the presidents of the two companies diff
ferent from that held by Mr.. Chaflin.
| This is the contract to enforce the specific
performance of which suit has been
| brought against the Union Passenger Com
panv for $40, 900 damages.
Mr.. j. F. Smith, Of New York, having
rendered his resignation az member Of
the board, Mr.. A. NJ. Scott, Of Richmond,
was chosen in his stead.
Messrs. Putzel and Toncey spent tho
greater part of the afternoon in consulta-
ton with Messrs. Meredith and Christian
with reference to certain legal matters and
| left for New York last night.