Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-02-21
ELECTRIC LINE SOLD.
The TWO ROADS ACROSS THE FREE
BRIDGE ABSORBED YESTERDAY.
xr. Fisher becomes the President--An
Exchanxs Of Bonds- se5, 900 10 Be
Expended In Bettermenfs.
The Richmond and Manchester railway
vas sold yesterday afternoon to the Rich

vas sold yesterday afternoon to the Rich
mond Railway and Electric Company.
Tho purchase. or what may be techni-
caiiy called perpetual lease. was made at
general meeting of the stockholders and
directors OF the hrst-named corporation,
held in the Offices of Messrs. John l.. Will
Hams 4 Sons, bankers. at 4 o'clock yoster-
day afternoon. and the price agreed upon
amounts TO about 100000. At this meet
tng there were present several Baltimore
capitalists and number of RichmonderS
interested in the transfer.
The conference was presided over by Nr.
John shelton Williams. the retired presi-
dent OF the Richmond and Manchester
company, and among those present were
Messrs. George 4. Fisher, treasurer OF the
Richmond Railway and Electric Com:
pany; DIR. J. y. Mum. the president OF
that road: w. &. Seldom. J. w. hidden
dorf, +. j. Craigie. Major b. H. Nash, A.
IL. rutherford. and l.. Il. Keiser.' the
two last-named OF Baltimore.
THE DEAL CLOSED.
After considerable discussion il was de-
cided TO transfer TO the Richmond Rail-
way and Electric Company the stock. pro:
perty. franchises, rights. and privileges OF
the Richmond and Manchester Company.
The property embraces the two electric
car lines which cross the Free Bridge, and
also forest-Hill Park, which Is one of the
most popular resorts around Richmond.
The cars on both roads run from
Chestnut Hill on the north OF
Richmond 20 the park. southwest
of Manchester. They diverge in Man
chester ard go over what ere known, re-
spectively, az the Hull and Perry-street
lines. There are about enc nt miles OF road.
nearly all of II with double tracks.
Under the terms of the deal which was
foreshadowed by the DISPATCH several
days ago. S400. 900 OF foIty-year per cent.
gold bonds are to be issued IN lieu Of the
$500. 900 Of per cents now in existence.
the interest being guaranteed, OF course.
by the Richmond company. Oh TINS sum
SOB. 900 Is TO be used for Immediate better
ments which are greatly needed. There
will therefore be 1915, 900 for distribution.
NEW OFFICERS ELECTED.
Immediately after these matters were
agreed upon an election OF officers for the
Richmond and Manchester Company was
held, resulting III the selection OF Dir.
George II. Fisher as president gee Jonn
SHELTON Williams, Esq, resigned. and OF
the following Board OF Directors
Messrs. George l.. Fisher. b. II. Nash.
y. j. Craig1e, Dr. }. L. Mum, John Skel-
ton Williams. s. w. MIddendorf. and w.
G. Seldom. The four first named are new
directors: the others belonged 10 the Oh
board. The members OF the old directory
dropped were Messrs. A. h. rutherford;
Paul Weilbaoher. James +. Bradley, and
l.. X. Keiser. MIR. ID. H. Ioncey was elect
ed secretary of the company.
The new management are 10 take charge
Of the property tins morning.
MIR. Fisher, the new president. stated 10
DISPATCH reporter last evening that,
while nothing definite had been decided
10. not no WOlin
regard to Improvements or changes, be
was of the opinion that q transfer would
be allowed at Seventh and Main streets for
one fare.
NOW THEY HAVE 1T ALL.
From TO-DAY the Richmond Railway and
Electric Company will control every foot
Of street-raIlWay III and around Richmond,
including the Seyen-Pines road. which ls
now beng equipped with electricity and
will be operated by tnat motlYe;po~er
after March 18th. These roads, including
the one to Barton Heights mot yet quite
finishedl. have u total trackage OF sixty or
more miles.
Ihe Grst road built in Manchester was
the Hull-strect line, which was put IN
operation on CArlstmas-Day about seven
wears ago. II was constructed by Mr..
LOWS IA. Blair aud associates, and sold not
long after completion. through Mr.. John
J.. Taylor. e. NJ. Joseph Bryan for $4,000.
The enterprise paid handsomely from the
first. and MIR. BRYAN extended and I'M
proved tne ROAD from time TO time. Soon
after the Southslde Land and I'M
prOvemont Company laid ont Forest
Hill Park ana constructed lts electric
line. which has SINCE been extended to
Chestnut I'm. Mr. Bryan's road was pur-
chased az the handsome price Of $4,000.
The TWO car-lines were then consolidated
under the stvle OF the Richmond ana Man
chester i,a'iwav Company. winch also ac-
CURED the park. the SOuthslde Company
only retaining its " Oodland-Heights track,
which is beng sold on IN building lots.
these properties were bonded at $500, 900.
and II Is in exchange for these securities.
the interest on which was only secured for
two years. that the 100000 OF new bonds
are TO be issued.
The original Woodland-Heights tract
was bought by Mr. John L.. Taylor about
five years ago from Mr.. Mclean, OF the
Philadelphia inquirer aud the Glddings
estate. He sold the property 20 Mr.. James
L.. Pace for go. 900, and the latter sold 1t
later on 10 the Messrs. Abel, of Baltimore,
for $4,000. A Baltimore syndicate was
then formed. largely through the lnstru-
mentality of MIR. John {. Robertson, and
the valuable property was purchased for
$4,000. There have been two sales OF lots
aggregating about $4,000 aud the COM
pony still owns the greater part OF the
land.
Ii is understood that the car-lines will
be extended TO the Broad-Rock race
course, BOON to be established not far
from Forest-Hill Park.