The times. [volume] (Richmond, Va.) 1890-1903, 1892-06-19
the sEYEN PINES Road.
Mr.. q. Il. Fisher Declares Most Positively
That 10 Has Not Been sold.

Mr. q. Il. Fisher Declares Most Positively
That IL Has Not Been sold.
The Seven Pines railroad has not been sold
TO Dir. G.. i. Fisher. treasurer Of the Rich
mond Railway and Electric Company was the
statement made in Tsx TIMES yesterday
morning and this very statement is repeated
this morning, based on the positive assertion
by Mr.. Fisher that no sale has taken place.
In regard TO the alleged sale of tho road
in question contemporary yesterday pub
lished the following;
The Richmond and seven-Pines railroad has
been sold to Mr.. e.. +. Fisher, secretary and
treasurer Of the Richmond Hallway aud Electric
Company or assigns. The papers consummat-
ing the sale were signed at o'clock yesterday
afternoon. As stated q few days ago electric
power IL to be substituted for steam on the
road.
called on Mr. Fisher yesterday and asked
him for further information on the subject.
He plainly stated that whoever gave the in
formation which led 10 tho above publication
was telling something which was not so.
Last evening the following was published
in reference TO the matter:
The details OF the purchase or the Rich
mond City and Seven Pines railway % Air. q.
T.. Fisher was completed to-day by transfer
of the controlling interest OF the stock and
bonds OF that corporation.
In accordance with the agreement one Of
the old directors was 10 resign. Mr.. Edgar
III. Ferguson asked that he be- allowed % act
as scapegoat as his business demanded all
his time. The resignation OF Mr. Ferguson
was accepted and Major b. H. Nash was
elected in his place. The other officers and
directors will hold on until the contract has
been performed and the road Is equipped
with electric power and cars
The bonded Indebtedness OF the road IL
$4,000 and there is also $4,000 of stock.
Mr.. Fisher purchased a controlling interest ia
each. What price was paid could not be as
certained. The transaction, however, Is per-
fectly satisfactory TO all concerned.
in future the road will be operated by the
Richmond Railway and Electric Company.
Mr.. Fisher has executed q contract and
guarantees 70 give specified service upon
the road.
I happened TO be the first one to show NIr.
Fisher this article and after peruslngi it very
carefully MIR. Fisher said There Is vein
of truth in IT, but 1t runs very hight and only
on the surface"
In explaining his remark Mr.. Fisher stated
what be said he had never mentioned 70 a
living being before that for number Of
years passed he had controlled about three
quarters or seven-eighths Of the bonds of the
road. The road had not been sold, for this
could only be done by fOreclOs-
ure proceedings The Seven Pines people
might have suspected that he controlled
their bonds, but did not know 1t for certain.
Recently he presented some coupons 10 them
for payment and thereby showed his band for
the first time. He had asked that the road
take care Of certain debts. and If this was not
done in all probability foreclosure proceed
ings would be commenced.
il was true that change IN the board or
directors had taken place, and that Mr.. Edgar
n. Ferguson had stepped out 10 be super
seded by Major b. III. Nash. who would here
after look after Mr.. Fishers interest.
In case the road should be foreciosed 1t was
probable that he. as the largest bondholder.
would purchase it. and In that instance he
would equip the same with electricity. What
ever he would do. be had agreed 70 protect
bis own interests as well as those of the gen.
tlemen who at present have control OF the
road.