The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-03-31
DENNIS CABLE ROAD.
Front Street Road Bought by
Electric People.
ALL UNDER ONE MANAGEMENT.

The Big Deal Completed ssA Csnsel-
idatsd Compsny 60 BE Organised
Details Of Purchase.
Another important stsp hes besn taken IN the
big scheme of consolidating the street railways
Of this city. controlling interest In the Front
stress coble lines was yesterday sold 70 d. l..
Denny and his sons, John 7. Denny and D.
Thomas Denny. who. few weeks ago. pur.
cbassd al; the stock and bonds Of the Consoli.
dated company.
The Front street lines were owned By two cor
togasicns. namely, the line south Of the power
house ON Depot street. 1880 fsss in length OF
single track, being owned BY tho Front street
Cable Company. and the Line north OF the power
house. consisting OF LOO feet OF single track, be-
ing owned BY the North Seattle Cable Company.
The frssnsmed company 10 stocked for $780,
600 snd has $4,000 Of Der cent bonds out
standing, owned mostly in large blocks By san
Francisco parties The second company II
stocked for 5000 and has no bonds outstand-
ing.
While the two lines were operated together,
and many Of the stockholders were the same In
each, yet thstr holdtngs in each were not the
same and there were some who owned stock In
one and not In the other. The MessrA Denny
bought the holdings Of ill the stockholders ex-
cspt 100 shares owned BY . party who Is now
travelling In Europa Those who disposed OF
their interests we're Judge joan r. Hoyt. of
Olympia, Bailey Gatseft, A. schwabscher. Louis
DchwabAchsf, sfgmund achwaDacher, l. 3. J.
Hunt. George H. Hebron, the Security Trust
Company. r. II. Denny, Dr.. A. p. Mitten. Mrs. J.
C. Hainss. Jacob Fursh. A. B. Stewart. n Nc.
NickAn and h G. Struya
The terms OF the sale were private and the
tsansaesion was completed In one deal for al
the stock sold, the negotiations being conducted
By Jacob Furth on the part of the stockholders
and By John 7. Denny on the part Of the pur.
chAsera
The road VS. turned over to the purchasers
Lest night, free Of all encumbrance except the
bonded debt The transfer of the shares will Be
completed In . lew days, when the old trustees
will resign and new board elected.
Included in the purchase was . new cable.
half Of which has already arrived, and the re-
mainder II expected In . day or two. This will
b put In Immediately, and electric motors Will
b substituted for the engine and boilers now
Ut the Depot street power house The electric.
tty will b furnished from the Western lumber
mills, on Lake Union, which now supplies the
power for the Consolidated and Third steres sys-
tsma Three hundred horse power 10 the ut
most that will ever b required. although only
$50 horse power 10 ordinarily used.
The object Of the Messrs Denny in buying the
Front street lines IL TO effect consolidation OF
them with the two systems already owned by
them, namely, the Consolidated or Second
street system and the Rainier Power and Light
Company's lines or Third street system. This
consolidation has been attempted ct various
times before BY mutual agreement between the
companies, but - they could not agree upon
the relative valuations to be placed upon the
properties oil schemes hitherto with this object
In view fell through.
viduai property owners in the section OF town
travsrsed BY these lines. and consequently the
parties most interested, then undertook cash
purchase Of the stock OF the other companies
and the negotiations have been pending for sew.
eral months. Prior TO undertaking them they
came TO an understanding with Boston ana New
York capitalists interested In electric securities
who sent experts out to examine the properties
and the general situation In regard to street
railways In this city.
Now that the various lines tIaversing the
north part Of the city have ali been brought I'm.
der one management. all that remains to be
done before recognising the systems into one
corporation 10 TO put them into 6rstclass condi-
ton and to secure the outstanding bonds of the
Front Street Cable Company, II they can be-
bought at . fair valuation. New rolling stock
-
Toadbeds brought into perfect condition and
perhaps some branch lines now under consider
alton built When the new corporation 10 or.
ganised . new issue Of bonds will be made 70
cover these improvements and . large share of
the original cost Of construction, thereby releas.
ing large amount Of local capital tied up in
these securities, which will then be available
for reinvestment In other enterprises here
The Offices OF the three systems aud also those
of D. I. Denny 4 Sons have been removed to
the ground floor corner room In the Masonic
block at the corner of Second and Pike streets
john II. Denny said last night: 1--WE shall
operate the cable lines with electric motors At
present, but II may be that ultimately We will
dispsnss with the cables aud operate the cars
With trolleya My brother and Superintendent
Clarke are now ~ work on system OF transfers
between the different lines, and the running
times OF the cars al three lines will be so
alternstcd ns to afford tho public the greatest
convenience with the present number OF cara
'If II should be decided to cut down Front
street Hill, the public will suffer little iucou.
veniencs. because we shall transfer passengcrs
between the electric and cable lines at Pike
street on the south and Cedar stree. ON the
north. We ara in better shape 10 run the
lines economically than any one else, owing 10
the central location OF our power house al Lake
Union and the TACT that We shall obtain the fuel
90 generate all the power used practically free
II being the refuse from our lumber mill BIZ,
even on . coal basis we arc in better share To
work economically than the other COMPANIES.
m we can get our Goa. delivered by barge from
Newcastle across Lake Wash N gton aud through
the portage. or We can switch the cars from
Gilman on 10 our track at Fremont or boulevard
sirest aud run them right into our mill The
projected crosstown line on Repuhl can stree,
60 enable passengers TO DC transferred from
Queen Anne HIN and North Seattle TO the lake
Union aud Lake Washington district, will be
built Just as soon - the sewer Is built and the
grading on that street Is com pcfed. II will take
several months 10 finish this work, ans. tho lire
may not Re built until next year. We shall do
nothing toward securing the West street line In
Ballard That is not good proposition and Wa
could hardly afford 10 operate the line even II
IL was given Us Tor nothing. We have fran
snise Tor line from Fremont 10 Ballard which
could be operated ana maintained much eheap.r
than the West stree; line, Ne shall no, hniI,i
the line, however. until We thiuk there is buss.
ness there 10 justify the outlay"
FOUND UNDER THE SLIME