The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-06-01
PARSONS IN FULL CONTROL.
ELECTRIC RAILWAY FORMALLY
TURNED OVER TO HIM.

The Transfer Made at Midnight-The
Savannah. ThunderbOIt and Isle OF
Operate the Consolidated Lines
Until n New Set of Officers Is Elect
ed-The savannah Traction Com
pany Never More Than "A Name.
A Rumor That 81 ,125,OOO of Per
Cent Bonds Are TO Be Issued.
At midnight last night the possession Of
ell the properties Of the Electric Railway
company and Of the Savannah, Thunder
bolt and Isle Of Hope Railway company
were formally turned over 10 President J.
H Johnston Of the latter company. Mr.
Herman Myers represented the Electric
Railway Company and Hon. Pope Bar
row and Mr. J. y. Hartman the interests
Of Mr.. George Parsons in the properties
Of the Savannah Thunderbolt and Isle Of
Hope railway. ia the transfer.
A meeting of the representatives, Of the
two companies was held yesterday at the
Office OF Barrow & Osborne in the Citi-
zens Bank building and the papers neces-
sary to the transfer were signed. II was
really a meeting Of the stockholders Of
the Savannah, Thunderbolt and Isle OF
Hope Railway Company to confirm the
purchase OF the Electric railway proper
ties. recently known as the Traction com
pany and also to confirm the purchase
from Mr.. George Parsons Of his interests
in the Savannah, Thunderbolt and Isle Of
Hope railway in order that the new com
pany might have clear and complete IL
tie to all the property.
From Mr.. Parsons was purchased the
power house at the Bolton street junction
and the land on which It stands, the line
of road from Thunderbolt to Sand Fly
the cars. motors and other property owned
individually by him.
The Secretary of State will be applied
to at once for an amendment to the char
ter Of the Savannah, Thunderbolt and Isle
of Hope Railway Company, the mode OF
amending being 10 incorporate in the pres
ent charter the provisions Of the gene .
railroad law of 1882 and the amendment TO
that law of 1894.
The formal transfer was made at
the Office OF the Electric
Railway Company at GHin-
nett anu I4ltE EAfEEtr. 1At11A y Altt man
Myers, J. 8. Collins, William Kehoe Jacob
PauIsen, c. c. Ely and w J. Lindsay,
former stockholders Of the Electric Rail-
way Company, are now stockholders in the
Savannah, Thunderbolt and Isle Of Hope
railway, representing the new element AS
soon as the amendment TO the charter IS
obtained, another meeting Of the stock
holders win be held and a new board Of
directors viii be elected. and a president,
vice president and other officers Will be
chosen The meeting will also provide for
an issue of stocks and bonds by the new
company.
Il will be noticed that the properties
transferred are those OF the Electric Rail-
way Company and not OF the Savannah
Traction Company. The latter company
has been merely a name, the title having
remained in the purchasers, who bid in
the property at the United States mar
snail s sale in January.
AS stated In yesterdays Morning News,
the city and Suburban railway Is not in
cluded in the consolidation. None Of the
property Of the City and Suburban rail-
way IS included in any Of these contracts
or conveyances," said Mr.. Barrow TO
Morning News reporter after the meeting,
THAT company for the present Will be
operated under its own charter"
Mr.. Barrow said the issues Of stock and
bonds had not yet been decided upon. Mr..
AIEDEEE EhfEOHHs he EdAA WOliu DC RieSl-
dent Mr.. Fall, vice president and Capt.
Johnston will be general manager. All
questions OF the further disposition OF the
property. including changes and improve
ments, are held In allegiance awaiting the
election OF the new board OF directors. 1t
IS rumored that the issue of bonds Is to
be u,l25000. at 4 per cent.
Three deeds were filed IN the Office Of the
clerk Of the superior court yesterday, be-
ing conveyances OF property from Mr..
George Parson 70 the Savannah, Thunder
bolt and Is.e Of Hope Railway Company.
The first deed conveys the track from
Thunderbolt 70 Sandfiy, known as the Sa-
vannah and Thunderoolt railway. This
line Is the connecting link between the Sa-
vannah, Thunderbolt and Ise Of Hope and
the City and Suburban railways. The
second deco conveys the depot and lots on
Bolton street and the third deed conveys
the power house on Bolton street and the
electrict car motors. IT will be remem-
bered that when the Coast Line and City
and Suburban railways were equipped
with electricity the entire equipment was
put In by L. II. McIntlre OF New York
who leased 10 Mr. Parsons, who In turn
leased to the two railway companies. Mr.
Parsons afterwards acquired the owner
ship OF this equipment, which he now
transfers 10 the Savannah. Thunderbolt
and Isle OF Hope Railway Company.