The Sunday morning news. [volume] (Jersey City [N.J.]) 1886-1891, 1891-10-18
4 Big RAILROAD DEAL.
North Hudson Lines May
Go to a Syndicate.
VINO ARE INTERESTED IN IT
Hoboken land and Improvement
Company and Unnamed Persons
in Newark Mr. Bonn's
Statement
WHO ARE INTERESTED IN IT
Hoboken Land and Improvement

@lutCtlSAA
The North Hudson County Railroad
Company. which controls all the horse
car lines aud elevated railroads IN the
county north Of Pavonia avenue. this
city, IS about to change hands. Negotia-
lions are at present in progress By which
John Fl. Bonn. the millionaire president
Of the road and the man who has made it
what it is. will transfer the controlling
interest which he holds to q syndicate
formed By the Hoboken Land aud I'm
proyement Company and some Newark
parties. Mr. Bonus failing health and
aattering offer he has received are said to
be the main causes Of the change.
The snrface lines controlled By the
North Hudson County Railroad Company
are as follows:-The Grove street line.
Summit and Pavenia avenue line. Hobo
Court House line. Central avenue line,
Union HUI line, Gutenberg line and the
Washington strees and Willow avenue
city lines in Hobuken. The Summit ave-
nue. line was purchased about year ago
from J. "a. Small, new cars were put on,
and many improvements made. Besides
the above mentioned Improvements the
company owns the cable road to the
Heights, which will soon be In
operation to the Court House: also
the motor road from the West Shore ferry
to the Gutenberg race track. The other
cable road, which will run direct TO Eli
dorado and through Union Hill, is also
owned by this company IL will be ready
in few weeks. The Company has also
franchise TO run q cable road from the
Fourteenth street ferry to the brow OF the
West Hoboken Hill The company
owns 1000 horses aud employs about
headquarters are In Hoboken. II II I'M
derstood that if the transfer Is made MIR.
Bonn will ask that certain Of his en-
ployes who have faithfully served him
since he became identified with the road
thirty Years ago shall be retained.
WHAT THE SYNDICATE PROPOSES.
It is believed that if the syndicate gains
control of the road 1t viii be as yig-
0rous as was Mr.. Bonn In establishing
rapid transit in the northern part OF the
county. It is not unlikely that 3 new
time schedule viii be made in order that
the cars may connect with the boats Of
the Hoboken Ferry Company. which is at
present controlled BY the Hoboken Land
and Improvement Company. The HOBO
ken Land and Improvement Company
owns considerable property on the brow
Of the West Ho6oken hill. This property
Is not very valuable at present. owing to
the roundabout way of reaching 1t from
the ferries. It takes apout three-qu arters
of an hour to reach either OF them
Mr.. Bonn some years ago obtained
franchise to erect an elevated railroad
from the Fourteenth streetferry 60 West
Hoboken. BY doing this the time from
the ferry 20 West Hoboken can be reduced
to about seven minutes. But Mr.. Bonn
had his hands full At one time he was
experimenting the elevated railroad to
the Court House, the steam road Co the
Gutenberg car track, and the
elevated road to Eldorado. The
consequence was that the West Ho6oken
people began TO doubt II they ever Wouid
have rapid transit. Within the past week,
however, the contract for the erection OF
the road has been awarded. The land OF
the Improvement Company will be great
ly advanced in value.
called at the home of Mr.. Bonn last
night He resides in q mansion on bluH
overlooking the Weehawken Boulevard.
The old gentleman appeared to be feeble
and unable to continue the vigorous pol
icy he has pursued in the past.
WHAT MP. BONN SAYS.
Eyes, it is true be said. With tinge
of sadness in his voice. Negotiations
were in progress between myself and q
syndicate composed of the Hoboken Land
and Improvements Company and other
parties for a transfer of the road. The
negotiations may fall through yet, how
ever. / did not seek the offer. which, by
the way, is very dattering one lt WAS
made to me without any solicitation on
my part.
charge of the road, and In all that time
have had no vacation except when ]
made two short trips to Europe. Within
the past few months my health began 70
fail me, and upon the advice OF my
physician, refrained from visiting my
Office, as mad been my custom My sons
locked after the interests OF the road, and
whenever anything that they could not
handle came along such as the awarding
of contracts an so on. was consulted.
sWhen the offer was made to me did
not consider it seriously, but when | re-
Elected ON the cares ana worriment and
the necessity of my personal supervision
over the road did consider it. My fam
ily seemed to look with favor upon my
retiring.
II am not particularly anxious to dis
pose of my interest, however, but il a
suitable offer is made / will accept it. We
are going right ahead with our improve
ments.
a few days ago the contract for the
erection of cable road from West Hobo
ken to the Fourteenth street ferry in
Hoboken was awarded. The elevated
road TO the Court House will be In run
ming order by November 10. and we ex-
pect to have the road TO FL Dorado fin
ished about the same time"
Mr.. Bonn owns about two-thirds OF the
stock of the road. He said be did not
care to make public the offer he had re-
ceived-