The Providence news. (Providence [R.I.]) 1891-1906, 1893-02-11
STREET RAILWAY DEAL.
What Some Of the Leading Men Say
About the Change.
MUST Be PROGRESSIVE POLICY.
Gov. Brown, MIR. McAuslan, Postmaster
George. MT. Nightingale and Others
Speak Good Words for the New Rail-
koad Managers.
The biggest thing for years !


men expressed on the streets and at the
exchanges today in regard TO the pros
pective change in the management of the
Union Railroad Company.
The real estate men are Of the opinion
that the extension of rapid transit facil-
tiles will cause a development of the city
that will astonish the people in the next
few years.
In his message this year Gov. Brown
called attention TO the needs of the city in
this line, aud now that there seems TO be
some prospect of their fulfillment he is
ready, aud believes that the rest of the
citizens are ready, to receive the new di-
rectors with open arms. In speaking on
the subject this morning the governor
said:
"As understand It, these men have
bought out the old stockholders at a
price that is equivalent to a 3 per cent
basis, but capital will not be satisfied
with that return. The new owners
would not have bought the road with
the expectation OF getting no more than
that. They are all progressive and active
men, and they must push the develop
ment OF the road as fast and perfectly as
Is possible. They must furnish such
ad,quate facilities as will secure cheap
and rapid transit 20 all the peo-
pie, and iu all directions. This
is Que of the most imperative
needs of the city The present facilities
are inadequate. know many men who
would like to ride far more than they do,
but they walk most of the time because
of the crowd condition OF the cars and
the infre quency Of their rnnning"
John McAuslan looks at the business
side of the question. He believes thor
oughly in home interests, in home owner
ship and in home management; He thinks
the past management has been good,
but that there is great future ahead for
the city, and the road il properly managed.
"The new men are men Of ability" said
he, "and IL the managers are to be those
stated In the NEWS of last night they
will use every effort TO meet the peoples
demands. Everything that they do in
the way of progress will help the city,
will help tbemse YES and Will help the
business OF the merchauts."
Charles II. George is an optinist, and
Is ready 70 believe the best possible OF the
new management. He looks upon the
road as the finest equipped in the coun-
try, but believes that the extension TO
the suburbs will be of the greatest bene-
fit II am very glad TO know that it will
be directed by home capitalists.
Samuel A. Nightingale speaks enthusi-
astically of the real estate prospects.
While commencing the past manage
ment for its high.class service, his ac-
ouaintance with the land values, particu-
larly on the East Side. leads him o think
that a cross-town line in that section will
be of great benefit. The section nor of
the cable road is one Of the best for
dwelling purposes. From Prospect
street to the Blackstone Park aud
far out on the Pawuucket road
is section almost Inaccessible.
The opening up of the boulevard aud
easy access to this portion of the city by
earxyica xyill ha A hnnn.
to the city. Certainly" said he, no ex-
ception can be taken TO the men who
are mentioned as the new directors.
Thev are drivers in every sense OF the
word. They will have company
with a long franchise. There will
be no competition for them to
meet. There will be no expenses
for buying out the owners of charters.
nor for extensive legal work. They
will be free to go ahead and use all their
money o make the best road possible and
ms quickly as possible. i am heartily in
favor OF the change and hope also they
will give the patrons transfer tickets"
William III. Herrick said: There is
no sentiment In this transaction. These
capitalists have bought this road to make
money, and they will IL is n
business necessity. am not
one of those who decry outside
capital. What we want is to get all the
OulSlue capital tnat we can into the CITY.
IL has been to the detrment OF the city
for long time that its business interests
and It's real estate interests have been
I'm the hands OF local men who
do not need to make money. II we can
get some outside capital here we shall be
able TO convince them QI~ the opportuni- |
ties for Investment that are here. This |
road will carry people out OF the city If il |
IL properly extended. IL will reach the |
lands OF those who are williugto sell and |
who are anxious for improveme ent | |
believe IL will benefit laud for six miles /
on all sides OF the city,"
George III. Burnham said: This pur- |
chase means new money in the city. Ii |
means new administration. It means
modern ideas, modern improvements,
and cannot help being OF great benefit
10 the city. The old management was
Sood, but IT IL we'll TO have new manage
nent in all things occasionally. IL al
ways results i'm progress.
Col. Isaac l.. Goff has had some ex-
)erience In the benefits Of an electric line
lnd knows whereof he speaks. lie called
attention TO the rapid development OF !
properties In which he had been inter
'sted, along the lire OF the electric cars
oward Pawtuxet "It has" said he.
made that development possible. ana
what is possible in one section il possible
n all other sections. The energy oil these
nen IL unquestioned."
The attention of investors called 20 tho stock Of
IH.UN 81 IH..N -.