The Providence news. (Providence [R.I.]) 1891-1906, 1893-03-15
The United Traction and Electric
Company Of New York City
SUGAR TRUST AND STANDARD OIL
Are Interested In the Transaction-Local
Interests of the Rhode Island Hospital
Trust and Other Corporations Ger
tifcates for Gold First Mortgage Five
Per Cent Forty Year Bonds to Be
Issued at an Early Day.

The bottom facts attending the re-
cent purchase of the Union Railroad
company are at hand, and the public
through the News will learn for the first
time who the men are who have fur
nished the money to buy the road.
Tie names and facts given in last Fri
days News were correct and need only
the addition OF those herewith giyea.
The syndicate interested in the pur-
chase Of the stock is composed OF Mars
den j. Perry. general manager of the
Narragansett Electric Lighting com pauy
OF this city. Lee Higginson g. Co.
of Boston, Messrs. William c..
Whitney and o. II. Paine OF the
Standard OIL company OF New York, j.
+. Searles of the Sugar Trust, F. p Oh
colt, president Of the Central Trust COM
pany is interested, both individually
and for the Trust company; Anthony n.
Brady. proprietor of the Troy and
Albany Street railways, John L. Par
sons. A. ID. Juillard. recently of the
Riverside Oswego Mills in this city and
director of the Mutual Life Insurance
company, r. s. Hayes president of the
New York and Northern railroad and
Clarke, Dodge & Co., brokers of New
York.
Messrs. Butler. Stillman g. Butler OF
New York and William G. Rocker ofIthis
city are the counsel for the new United
Traction and Electric company.
dent of the company and will have i'm
hand the active management of the af-
fairs of the company. The active board
Of managers, Composed of the directors
of the company, has not vet been finally
determined upon. but as now proposed
it will consist Of Messrs. A. S. Brady and
NJ. j. Perry.
In the development Of the business the
local directors will work in harmony
with the New York board and some of
the foru er will be members of
the latter. G. w. II. Matte
son represents the local interests
of the Browns. Goddards and Iveses who
Island Hospital Trust. ;Mr. Perry will
also represent other local interests on
the New York board.
OF the bonds spoken OF last Fridsy the
present issue will be limited to So, 900, 600.
per ceDt. gold, first mortgage forty
year bonds.
These bonds are to be marketed at an
early date, and the Rhode Island Hos
pital Trust company and Wilbour Jack
son g. Co. will effer a very large block of
them, taking also large block as a per-
manent investment.
The total issue issue of bonds so far as
now provided for will be $s,000.0O0.
The gross earnings of the company last
year as shown by the report were 81, ,295..
OOo 1t is estimated that by the extern
sion of the lines. the shortening of va
rious routes. and equipping the road
with electricity the earnings will be- so
increased as to make fair return on
both the bonds and tn stock.
The gentlemen whose names are given
above have bought this road because they
believe in its future. The high standing
OF those interested and the millions OF
money which they represent affords no
reason to doubt that the road will be
pushed TO its fullest extent. Their COM
bined wealth is not less than $500, ,oOo, 900.