Telegram-herald., 1890-04-12
THE DEAL CLOSED
The Reeds Lake Electric Railroad
Company Incorporated
NEGOTIATING WITH IHE CABLE co.
rhs hsat couAty stress Railway sold -
Gr.ad Rapids Capft4lists-Ths SAN
PAta Uaka0sa-0n1esrs or Ehs
Ass Company.

The Old Kent County Street Railway
has a. last been sold, and the present
owners vii rush the completion OF Lac
road and pat it Ia operation as soon as
possible. The charter members CT the
new corporation are Daniel Mccoy.
Chas. VI. Aver, John Dregge and So
bFant Wesselius. These gentlemen
have elected themselves directors Of
the company, aud the directors IN turn
nave elected sybrant Wesseilus presi-
dent, and John Dregge, secretary and
treasurer.
The name adopted for the company
i the Reeds Lake Electric Railroad
Company" Articles of ASSOCIATION have
been drawn up. but have not been iiled
with the county clerk Yet. The TELE-
GRAN-HEEALD representative Was un-
able o. get hold OF copy Of this dOcu-
ment, and therefore tue capital stock
OF the company and the amount paid
IN can not oe gwen az present.
President Wesstius WAS interviewed
regarding the matter lie was found
sitting in his Office, swapping talk with
sam b. Tlbbets. Al first he said that
the new deal had not yet been consum-
mated. Upon being informed that the
reporter already knew considerable re-
gardlng the subject, he admitted that
something had been done, buG refused
% talk.
Mr.. rlbbets was then asked 10 un-
bosom the secret, but, acknowledged
wink from Mr.. Wessehus, and cody
told the reporter 20 come around about
next August for the information. BY
the list OF stockholders it will be seen
that Mr.. Tlobets and u. II. Donovan
have disposed of all their interest IN
the concern. Mr.. Tlbbets, however.
will not lay N idleness, for ne claims
To have several new stupendOns rail
road schemes IN ms mind, among them
the road from this city 10 Holland, TO
be known a the Grand Rapids and
Lake Michigan Railroad.
It has been ascertalned that the rea-
son why the Reeds Lake Company is
holding back information, IS because
the directors are endeavorlng 10 make
a satisfactory arrangement with the
Cable Company, whereby u through
route Will be established from the lake
10 the heart of the city, without neces-
stating the building of the proposed
line. down Fountaln-st. Negotiations
have been gong on between the two
companies for some time, and Mr..
Wesselius says the deal would have
been concluded. had 10 not been for
the recent election. which monopolized
his time for while. IL is understood,
however, that the Reeds Lake Com
pany wishes 10 get less than q two
cent rate over the Cable Company
line into the city. for the reason that
the Kent County Street Railway Com
pany was bound by its franchise,
granted by the township board of
Grand Rapids township, u carry pas
scngers from Carleton-ave. to the heart
of the city. for ) cent fare. The
Reeds Lake Company Is therefore COM
PEELED To get very low rate from the
cable company IN order to make their
line pay The cable company gave the
North Park Railroad Company two
cent rate INTO the city. To say nothing
OF the franchise, the Reeds Lake Com
pany must carry passengers into the
city for a five cent fare. IN order To
compete with the street Railroad Com
psny, OF Grand Rapids dummy line,
the latter company having signihed its
intention OF reducing the fare TO 1--WE
cent rate.
It IS understood that rs soon as the
deal Is sIactorly adjusted that the
injunction suits OF the township of
Grand RAPIDS against the Kent County
Street Railroad Company, will I'M
mediately be- dissolved and the work
allowed tO proceed uninterrupted.