The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-10
A NEW S"TREET-CAR DEAL
THE PITTsBURG PROMOTERS ARE
OUT or THE MANAGEMENT.
Philadelphia stockholders Take
Recent History of the Litigation.

The new deal in the Citizens Street-rail-
way Company is to be thorough and rad
ical. TIL Pittsburg promoters who got
control of the company in 1893 are to step
down and out and the Philadelphia stock
holders viii assume control.
Augustus l.. Mason, president of the Citi-
zens' Street-railway Company, and William
l.. Elder, one of the directors, returned
from Philadelphia yesterday morning at S
o'clock, where the final meeting of the pres
ent board of directors was held Saturday.
After tomorrow Mr.. Mason will retire as
president of the road. At the same time
Messrs. Mckee and Werner, of Pittsburg,
and Messrs. Mason and Elder, of this city,
will retire from the board of directors.
Messrs. Dundore and Turner, of Philadel-
phia, will still remain on the board. The
seventh member of the board, Mr.. Clay,
died some time ago, and the vacancy has
never been filled. At the Philadelphia meet
Ing Mr.. Mckee was urged 10 remain on
the board, but refused. Mr.. Mason sub
mitted a detailed report of the work that
has been done since he assumed the presl-
dency, referring at length to the various
litigation in which the company has been
engaged and the adverse legislation that
has been had. He was complimented for
his efforts on behalf of the company and
regret expressed at his determination to re-
tire.
MT Mason's determination to retire from
the presidency of the Citizens Street-rail-
road Company was reached some months
ago, when he notified the stockholders that
ne would retire at this time. The position
- one OF a good deal of trying RESPONSE
billtX, and Mr.. Mason preferred to devote
ms time to his private business henceforth.
he VII resume the nrantfaa nF Iaur
Inc annual meeting of stockholders
VIII ne held in this city tomorrow. Mr..
MASON was unwilling yesterday to say any
1nIHg as 10 VINO ms successor would be.
Ihefe was a plan TO make Mr.. Turner pres
Ident or the road, but it is reported that
this plan has been modified. There is con-
who will constitute the new board of direc-
tors. The opinion was expressed about
would be elected, but that all the directors
would come from the East. This subject
was talked over at Philadelphia, and a con-
cluSlon was reached, but information as to
whom the new directors will be is not forth
coming. They are to be elected tomorrow,
when the new president will also be chosen.
Heretofore when there has been talk of a
reconstruction of the company mention has
been made of the fact that Mr.. Mckee
was lndorser for the company TO the eX-
tent OF $3u0,OOO, and that this fact would OPP
crate against any change. Arrangements
have been made to protect Mr.. Mckee in
this connection. AS the obligations for
winch he is sponsor mature they will be
assumed by the new board. The meeting at
Philadelphia is said to have been entirely
harmonious, and it is asserted that the old
board retires without any bad blood exist
ing in any direction. The past four years
nave been trying ones to the directors. The
course adopted was unpopular, and this
made the situation uncomfortable for the
officials who had to bear the brunt of
criticisms, public and private. Resolutions
c~omplimenting MIR. Mason were adopted,
and 1T is likely that the reference he made
as to the efficiency of the minor officials
will influence the new directors to re-
tain them in their present positions.
This was regarded as a favorable time for
the change in the management of the COM
pany. The present management assumes
that the status of the company is settled
until 1901. All the litigation that has been
had has been decided thus far favorably to
the company, and under the circumstances
the directors believed that they could retire
feeling that they were not deserving the
company when it was in trouble.