The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-09-20
THE ELECTRIC LIGHT COMPANY
DEAL.
How the Brush People Secured Con-
troll of the Other Company's Stock.

How the Brush People Secured Con-
troll of the Other Company's Stock.
The deal by which the Brush Electric
Light and Power Company secures con
troll Of the Peoples Light and Power
Company is practically complete. The
offer made to the latter company by the
Brush company has been accepted at
meeting of the directors of the Electric
railway, the owners of the Peoples Light
and Power Company. The result was
not made known to President Hamilton
OF the Brush company, until yesterday
morning. This explains the manner in
which he spoke of the deal Monday after
noon.
By the terms of the transfer the Elec-
trio Railway Company becomes a stock
holder in the Brush Electric Light and
Power Company, receiving stock in pay
ment for its electric light property. just
how much stock it is to receive could not
be ascertained yesterday, but it was said
to be a good-sized block, The Electric
Railway Company will be represented
upon the next board of directors of the
Brush company.
When a MORNING News reporter met
President Collins of the Electric Railway
Company yesterday he stated that the
deal with the Brush company had re-
lieved him of the responsibility and work
of managing the lighting plant of his
company.
in explaining the deal he said that before
the railway company controlled the Belt
Line he had ample time TO attend to the
lighting plant and plenty of power to
operate it at small cost, but since the
purchase of the Belt the cOmpanys rail
way interests became so large. that its
management and operation required all
his time and the use of most of the power
plant. He found also that the Brush
company was composed of a great many
of the citizens of Savannah, and that the
stock was held by parties and institutions
throughout the city to such an extent that
their interests could be conserved by work
ing together. and that only fair interest
had been made on their investment for
the last several years, while prior to that
time they had received nothing for their
money and labor.
The stringency in all business for the
last year or two made it incumbent upon
corporations, as well as individuals, to
adopt most careful and economical man
agement of their affairs, This was reached
in putting the railway properties together,
and by merging their lighting and power
company's interests with the Brush com
pany they accomplished the same purpose
and gave additional stability to that COM
pany while strengthening the railway in-
terests.
Mr. Collins is satisfied that with the
additional machinery and power the
Brush company will be better prepared
than ever To accommodate the public, and
that it will do SO at the lowest rates pos
sible TO enable the company to give good
| service, and he has the assurance of Pres
ident Hamilton that this will be the COM
panys policy.
The first move in the recent deal was
| proposition from the Electric Railway
| Company to buy out the Brush Electric
Light and Power Company The Brush
people We're not disposed to sell and made
| a proposition to buy out the Peoples Flee
trio Light and Power Company owned by
the Electric Railway, which proposition
was finally accepted.