The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-11-08
STREET RAILWAY DEAL.
The Steam Motor and Union Electric
Railway Company Lines to
Be Consolidated.
New York Syndicate, Represented
by j. II. Lawrence, Purchases
Both Properties.
The Work Of Equipping Them With Eleo-
tricity to He Pushed With All Speed
Plans of the Company.

The Work of Equipping Them With Elec-
tricity to he Pushed with All Speed
Plans of the Company.
During the past year there have been q
number OF developments in the street rail-
way situation in Helena. But the most i'm
p~ortant, probably. is that which took plaoe
in New York about q week ago. II will be
remembered that about six weeks ago a rep
resentativs Of the Northwestern Guaranty
Loan company. Of Minneapolis. purchased
the steam motor line under a foreclosure
sale. Immediately after its purchase a
contract was let j.. H. Lawrence to equip
tho line with electricity, and Manager
Clark put q large force of men to work to
put the roadbed in shape for the new
equipment. The latter work has been nm
ished and the poles are all up, ready for
the wire. A franchise has also been OBJ
tanned from the city for a loop up Clark
street to Harrison avenue and thence to q
connection with the main line On knight
street.
j. II. Lawrence has long had an idea that
a consolidation OF the steam motor line
and the Union Electric Railway company
would be a strong card. The latter com
pany owns the line to Lenox and has Q
franchise, with the road partly completed,
to tho Methodist university. He secured
an option on the motor line from President
Menage. Of the Guaranty company, and
also one from the owners of the Union
railway, Two weeks ago last night he left
Helena for New York, his mission being to
form a syndicate to take up the options.
Yesterday he returned successful. Talking
of the matter last night, he said: "You
may say that the syndicate which has adj
vanced the money to buy these lines 10 COM
posed of some of the best known men
in New York. Tit one is not all
American capital, some Of it
coming from abroad. The money
market east is in good shape now, the big
crops in the west making things lively on
Wall street and the troubles in South and
Central America have had the effect OF dis
couraging Investments there. In conse-
quence both foreign and eastern money is
larly favorable to electric street railway
lines. As q broker told me in New York,
such concerns never default on their inter-
est
"What does your syndicate propose to do
in the immediate future2" was asked.
- 10 S6I1y u Au1kQOA40tOAys W0U vAV ~
ply, "the plans made by President Menags
for the steam motor line and by the former
owners of the Union Railway company for
that company. Both the Guaranty COM
pany and the Union hsvs sold out abso-
lutely to the syndicate I represent. This
syndicate will put into the consolidated
lines about $4,000 600. Contracts have been
let for all the machinery for the power
house, calling for its shipment from st.
Paul by Nov. 20. The cars and all the
-. LIZ ln.k ~-l 1nknrA So
proved manufacture. During the coming
week the site for the power house will be
selected, and the contract for its construo-
lion let. We hope to have the Lenox line
in operation by the first of December. and
tho steam st. r. motor nfarEa Line me-. y i 1oan / | b a9s1 e bs-
gin this week also. As to the line to the
university, tina depends somewhat OF the
action Of the property holders in that Vi
cinity. My people will advance the money
to build and equip tho line, provided We
can show $25, 600 more in bonuses, either in
cash or its equivalent. If this is 0 I
will guarantee to build the line and give
as good service as is given on any line. And
I will guarantee also not to give this SCR
vice for a month or a year, but for the life
nineteen, as one year of it has already sx-
pired."
''What is the title and who are the officers
of the new company"
1T will be known as and operated under
the charter of the Union Electric Railway
COMPANY. I will be the manager of the
consolidated lines, and during the coming
week there will be a meeting and the other
officers will be chosen"
Peter Whine, who was largely Interested
in the Union Railway Co., returned to Hell
ena with Mr.. Lawrence in order to make
syndicate. Talking of the deal last night
he said: II regard it not only as q good
thing for Helena, but also as showing that
money for investment is coming this way.
Mr.. Lawrence made his deal in legitimate
investment channels. and it is the first big
deal of the kin l know Of which has been
carried through for a western enterprise
since the Barring failure. l believe this ia
but the beginning of the tide Of eastern
and foreign capital which will flow into
investment during the next twelve months.
The people behind MIR. Lawrence are among
the most prominent in eastern financial
circles, and thsre is no question of there
being ample money to equip the lines in
the best manner and run them in first
the syndicate I am in / might say a loss of
$4,000, not counting interest and the time
I have spent. l hope Mr.. Lawrence will be
able to make his arrangements to equip the
line to the university. There seems to be
an idea that we propose to sell lots down
VANtos Lag q law - IN " uAV y VA
in five and, ten acre tracts to truck gar
deners and those who desire to build nice
homes and have large grounds. / under
stand Mr.. Lawrence's intention is not only
to carry passengers, but to provide cars for
bringing produce to the city. There is no
question of the productivensss of the land
near the university, and we have settled the
question of obtaining water by the we'll We
put own in the cemetery. It is also his
Intention, l believe, to put on a funeral car,
and as the consolidated lines will reach all
parts of the city, this will undoubtedly
prove a great benefit. With proper en-
c%ouragsment l know the syndicate back of
the consolidated lines will carry out all
of its promises"
The consolidation of these lines and
their immediate equipment with electricity
ia another forward step in the progress of
Helena. The new deal means the retire
ment Of W. II. Clark, receiver of the mo-
tor line, and afterwards it's manager. but
that gentleman does not regret the loss of
the position. He has the satisfaction OF
knowing that he took the road in charge for
his company when it absolutely had NJ
future before it, and by hard work made it
a most desirable property. Az the lepre-
sentative of the Northwestern Guaranty
company he will still have ample opportu-
nifty to assist in building up Helena.
Special this week. AngQra wool 100. per ball.
Butcher d Bradley's, 1U5 Broadway.
T%ypowriting, room 10 Bailey block.