The Providence news. (Providence [R.I.]) 1891-1906, 1893-03-01
NEW DIRECTORS MEET.
Union Railroad Company Passes to
Its New Owners.
PRESIDENT NELSON W. ALDRICH.
All the Other onicers Retained-A New
Board Of Directors = A Progressive
Policy TO bs Inaugurated and Extsn-
sions TO Le Added in Few Months.

The meeting of the board Of directorI
Of the Union Railroad Company trans
acted business as outlined in the News
Of Yesterday.
The new members of the board are
Mossrs. n. w. Aldrich, G.. w. Ii. Matte
son and Nicholas Sheldon and Arthur
II. Watson will be added later These,
together with Messrs. b. A. Jackson,
Charles ii. Perkins and G. p. Pomroy
will constitute the new board.
or the old directors. Jesse Metcalf
and S'ephen o. Metcalf resigned. aud
Lucien Sharpe will present his resigna-
tion at some future IN eeting.
The Hon. Nelson w. Aldrch was elect
ed president, and a new vice president
will be elected upon the resignation of
Mr.. Sharpe, the present incumbent. The
other officers were retained A; Il, Potter
as general manager, III. V. "A. Joslin, sec
retary, and G. A. Bibc)ck treasurer.
The meeting OF the directors was long
and did not adjourn until Q O'clock
MANY general matters we're discussed
aud definite outline of the future policy
was laid down.
The newly elected president, Mr.. AL
drich, explained after the meeting was
over the situation which has been all ex-
planned in these columns already.
The new company IL comprised Of
Providence, New York aad Boston capi-
talists, who believe In the future OF the
electric railroads, and who were induced
TO take an inter sst In the Union Railroad
by some local progressive business men
and men interested IN electricity locally.
These gentlemen are prepared to expend
some S3,U00OOO more in extensions and
improvements, including complete
equipments with electricity.
'hs. N ma n xusn ha
changed, but will not be disclosed until
the completion of the organization of the
larger company. which has bought both
this and the Pawtucket company, and
may buy still other state property.
The new management" said President
Aldricn. Intend to make the policy of
THESE companies liberal and progressive,
as thev believe that by this course they
can best serve the public interests and
those Of all concerned.
THE able gentlemen who have Just
surrendered the management of the
Of the great work of max.
have made the Union Railroad
Company known everywhere as the best
horse railroad in the country. and it will
be the ambition OF their successors to
MAKE the Providence and Pawtucket
lines the model electric system of the
United States"
President Aldrich also corroborated the
distinct statements made here tofore by
the News. In the foll,wing words, relat-
ing to the senatorship aud the parties
who are not back OF the transaction.
I'm order, to correct any possible mis-.
apprehension" said he, II think it pro-
per to say that my acceptance of the
presidency of tho Union Railroad Com
pany has no political signifcapce.o ~ rs
among the owners of the property are
men Of every shade of political opinion.
The enterprise will be conducted strictly
on business principles.
perhaps should also say that neither
the New England Street Railway Com
psny nor any of its directors or stock
holders, nor any of the other syndicates
that have been operating. or purchasing
purchase"