The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-01-19
TRYING A NEW DEAL.
Eastern Men Take Charge of
Electric Railways.
AN EXPERT TO MANAGE THEM.
View Omcers for the Cons old ated Lines
Lost Express Package
Hill ut Spokane.

There 10 o new Deal in tho management OF the
Seattle Console aied Street Railway Company.
and one which may have far-rescaing in
fEeDce upon the street railway sys.em OF inis
city. This com pauy OWES and operates TIE
Second street Ella ctric line and its branches. ana
f. one of the mos: prosperous street railways IL
the city. At the annual stock holders meeting.
held last kondisy, an almost clean sweep was
rsaie OF the Oil directors Of the company, '.
Hugo smith bsi.fg the only one Of the Old board
reelected aud tn ose retiring being l. II. Griffith,
d. 7. Denny, J. p. Hale, J. Z. Porter. George
Kinnear. and z G.. Kibourne. The new beard
is com possd Of Jacob Furth. William D. Wood.
r. T. Biunck, Of Davenport, Ia: !. Hugo Smith,
A. Dunn. r. Fonda, OF new York city. sad G. :.
Clark, OF Kansas City.
Yesterday the trustees met and elected the
following officers: President, z. I. Biunex;
vice president. Jacob Furth; secretary, " Hugo
Smith; treasurer, X. r. spencer. auditor, A
Dunn; general superintendent, G. IS. Clark.
The otics of general manager has been aDoi-
ishei.
Ar. Bunck. ID s new president, il wealthy
capitalist of Davenport, Ia, aud the largest a.
dividuai s.ockho{der in the company. lie has
resided in Dayer port for thirty five years and
was formerly mar agcr OF n large honrIng m.It
there. lie is A dir ector In several financial and
manufacturing ms titutions of that city and one
o. lis most prom insnt citizens. For several
months past he has been sojourning in Europe
with his family, aud he has brought them with
him 70 this city He will remain here two or
three months and perhaps longer. T. Fonda.
one Of inc new directors, is New YORK banker.
&. s. Clark is an expert electric railway man
who comes here from Kansas City, where he
was general supernte dent OF one % the street
railway systems of tina. city. He formerly held
a similar position in Augusta ga He is an tx
pert civil engineer, electrician and an experi-
enceG stree; railway manager, besides being
good ali-around business man. While Mr.. Clark
accepts the position Of general superintendent
OF the Consolidated company, his real mission
here il to MAKE al expert examination OF the
entire s'reet railway situation IN this
ely No other city N the country
OF is size has large rsreet
railway mileage Seattle. The number OF
miles % single track ROW amounts TO 102. and
several extensions are III contemplation, well
a. Guy &. Phinneys proposed new line 10 Wood
land PARK. Inc result Of building so many
lines IL that none are earning dividenis, while
several are running at q loss. The money in
vested IN these roads is very largely local cepi-
Ia, and the situation Is such tina. the investors
nre unable 10 make turn Of this money
tie street railway securities available for boy
rowing purposes. Mr. Clsrs's task. after study
ing the situation. Will be to suggest some
method OF operating the Lines of the various
companies in this city on q more economical
basis, with view to getting matters in uch
shspe that outside capital will be Interested in
VI
Of local capita, needed for investment in other
local enter risss.
The old management of the Consolidated be-
came weary OF trying 10 solve the problem. L.
II. Griffith, the largest local stock holder, some
time 1go tried TO effect u consolidation OF the
various companies, but they could not agree
upon satisfactory basis, and the matter was
dropped. The Eastern stockholders were then
invited 20 try their hand at managing the prop
erty, with the result stated. There has been no
Change of ownership OF the stock. Mr. Griffith
still retaining his holdings, as do DR.. L. c. Kill
bourne and Others OF the old board, some of
whom, however, held only nominal amounts OF
the stock.
Mr. Bunch said last night:
No, we do not intend to make any radical
change IN the policy OF the company We in
tend merely 10 find the most economical method
OF operating our road. There many .in.s
here that the business 10 very much cut up, and
II the policy OF building more roads is continued
II must surely result in deterioration OF The
soendid street car service this city now enjoys
There are more than enough lines here now,
and the city has enough street railway mileage
for city of ~. 900 inhabitants. As far as ex-
tensions are concerned, we shall not make any
that are not July warranted by the necessities
OF the situHttOn. We have franchise for the
line from Fremont TO Ballard. but do not know
whether We sbail build /, or not yet