The record-union., 1893-01-27
4 SURPRISE HERE.
The Electric Railway Sale Came Quite
Unexpected.
superintendent Edison Says it is True,
But Director MARITIME Says He
Does Not Know.

Inc san Jose telegram published in the
REcoRD-UNIoN yesterday morning an
nouncing the sale of the Central Electric
Railway property and franchises in this
city to Messrs. Livermore and Gallatin
was the general topic of discussion
| throughout the city. President Henry
of the company is himself in san Jose, l..
L. Lewis is in Nevada County, and the
only officials of the company here are
superintendent Edison and Director J. G.
MARITIME
Both of these gentlemen were over
whelmed with inquiries yesterday rel
ative to the reported sale. Mr.. Edison
said to all inauirers that he understood
The statement to be correct, and that
President Henry, who owned about nine
tenths of the stock, had really made the
deal as reported.
When General MARITIME was asked what
he bad to say about the reported sale he
replied:
Il don't know anything about it, ex-
cept what | read in the RECORD UNION
TINS morning. l did not know that such
a sale was contemplated, and the whole
thing Is news to me.
y either do | believe that Mr.. Lewis
knew that the deal was to be made, for
he never mentioned it to me before he
went away. I've no doubt it's all true,
however, Tor the news comes through
very straight channel, apparently; and
lhen Mr.. Henry was in position to
make the deal if he wanted to-"
General MARITIME said, however, that he
regretted the sale OF the road. lie thought
there was room here for two companies,
and believed a lItle competition would
be better for the city. Oakland, he said,
had eight or nine different street car COM
panies operating there, and they all
seemed 10 De getting along well.
MIR. HENRY's MANAGER.
The San Jose Mercury has the follow
ing to say on the subject, and is doubt
less authoritative:
The interests Of J. H. Henry and J. p.
Burke in the electric street railroads
have been disposed OF, and ii is said tnat
they Will add nearly 500, coo to the credit
side OF their ledger as the result.
Some runors OF this character had
been IL circulation here and -usrcayy
representative yesterday afternoon inter
viewed J. I. Burke, the manager OF the
local railways. Mr.. Burke stated that
the report was true; that Mr.. Henry had
absolutely disposed of ali MS interests in
the Sacramento system OF street railroads
and would retire entirely from all parti-
clpation III its management
1t Is said, Mr.. Burke, that Mr.. Henry
cleared nearly a half million dollars by
the deal. Is that a tact?'
Mr. Burke smiled as he replied that
was one OF the matters it was not neces-
sary for the public to know, and returned
the same answer to a query as 10 tie
amount Of consideration that passed.
:" The deal is completed and all neces-
sary arrangements made said Mr..
Burke, but Mr. Henry will continue
n q fgr-
an accommodation 10 the purchasers.
they being not yet ready to take posses
siOn.'
The purchasers are II. P. Livermore
and Albert Gallatin, who constitute the
Folsom Power Company. The intention
is to erect large electrical works at Fol
som, the river supplying the power, and
conduct the electricity to Sacramento bv
cables. 1t will be supplied to residents for
lighting purposes, 10 manufactures for
motive power, and be used in running
the system of electric roads just pur-
chased.
The system of street railways in Sac
ramento sold by MIR. Henry comprises
about sixteen miles and is a valuable
property, paying high dividends. Before
MIR. Henry's advent the people We're
compelled to rely upon an eXecrable
hOrse-car service. Mr.. Henry purchased
the horse-car system, turned it into an
electric system and gave a service equal
to any on the coast.
ut was his desire to reach ont into the
suburbs and increase the population of
large outlying vacant tracts, but there
were certain ones who obstructed every
measure of this kind proposed, and, in
fact, opposed Mr.. Henry from the very
inception Of the enterprise. Franchises
petitioned for and indorsed by nine-tenths
Of the people along the proposed route
were time and again refused by the Board
of Trustees, and every effort made to ex-
tend the system and increase its efficiency
was bitterly opposed.
These facts had some bearing with
Mr.. Henry in finally disposng of the
road, in addition to the big price offered.
and he concluded to withdraw from
place where his enterprise and public
spirtedness were misrepresented and
opposed.
Mr.. Henry will now concentrate his
interests in this county and is already in
teresting himself in the projected road to
Saratoga. In fact, MIR. Burke and he
have offered, if the bonus agreed upon is
guaranteed, that they viii at once COM
mence the construction of the road and
push 1t to speedy completion. 1t is
probably also that other roads will be
projected, for with the capital withdrawn
from Sacramento they will be in posi-
ton to construct a system which Will
reach ali parts of the county and give
speedy communication with san Jose"