Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-07-30
AN ELECTRIC LINE
AN ELECTRIC LINE
To 0utshine All Others in
the State Of Maine.
Gigantic Plans Of the Latest Syndi-
cate to Enter the Field.
Lewiston and Auburn Tain Of Nothing Else
But the Big Deal.

Lewiston, July 29.-(SpeciaD The
purchase of the Lewiston a. Auburn
Horse Railroad which is now operated
| by an electric road, has been the chief
counting rooms, today.
Some things have been reported in
connection with the deal which are so.
and some have no foundation in fact
That the road has been purchased by
a wealthy syndicate is true.
Among those interested are the Hon
| Galen c. Moses and the Hon. Fritz r.
| Twitchell of Bath, the Hon. l. c. Libby
| of WatervilIe, and Amos Gerald of
Fairfield Other Maine men are inter-
| ested i'm the scheme. but their names
| have not yet been given to the public.
II is also no doubt a fact that Boston
| capitalists are Interested
| As has been stated. the syndicate has
obtained the controlling interest in the
I bonds, not bothering to get control II
| the stock Just what will now he
| done is matter of much conjecture.
| The Hon. Fritz FL TwitcheIl is au-
| thority for the statement that the road
will go into the hands of receiver and
will then be re-organized This prob
ably does not mean Just what il is con-
strued to mean by the public.
The Journal correspondent is told
| that it is not the intention of the syn
| dictate to crowd out the other bond
holders and make their holdings worth
| less. The First National and the Man
| ufactcrers National Banks of this city
| holu $50. 600 of the bonds of the road
| and before they would submit to any
injustice there would be resort TO the
law, and this in the end would be If
benefit to none of the interested parties.
The Journal correspondent is in
| formed by high authority that while
| the road may so into the hands of a
receiver it will be by mutual consent If
the interested parties and with the end
in view TO get the property into shape
for reorganization
So it may be safely said that many
of the rumors in this connection have
no basis and that the syndicate will
deal squarely with all concerned.
The Journal is credi.ahly informed
that when the time comes bonds will
be issued for a large amount of money
and the syndicate will carry out plans
of great business magnitude The
Ian includes trunk lines from this city
to Bath. to Turner to Sabattus, and
possibly to Gardiner. with branches
from Bath to Popham and from
Brunswick to Harpswel Neck 1t is
not unlillel.' that the plan thus outlined
is only a small part of what the syndi-
a
electric road building
While all this may appear to be i
plan of the Colonel Sellers order thu
Journal is assured by one in interested
that it is what has been mapped out
and, that in due season the public will
see that the syndicate has the finan-
cial ability to do all that is predicted.
Some of the people here are already
building castles in the air as to the
benefit which is to accrue to this city
by the building of the lines mentioned.
They think it will make Lewiston the
center of the biggest electric ROAD
system in New England and will en-
nance the value of property and brine
prosperity to the city.
While the future alone can unfold
just what will be evolved from the
plans of the syndicate, it is the general
opinion that it was time for the Lew
iston road to change ownership.
AS it was capitalized the property
could not be expected, unless under the
most favorable circumstances, to earn
sufficient to pay fixed charges and the
interest on the bonds
One well-known railroad man says:
"One great obstacle was that the road
has not had sufficient mileage. and,
unless it could be extended to at least
one of the principal points which have
been mentioned. no one could expect
it to be financial success"
Mr.. Twitchell of Bath. says: THE syn
dictate is very strong one" said Mr.
Twitchell land while am not at liberty
10 give any names other than those which
have been mentioned | do not deny that
Boston capitalists are interested in the
scheme. We are in this scheme for bust
ness and not for fun. The road will now
go INTO the hands of a receiver and the
Lewiston Auburn Horse Railroad,
whlch you know is now an electric road
VIII be wiped out of existence We are
not reay to announce our plans and will
not get INTO shape to carry them out this
season, but it is true that we intend to
extend the Lewiston road to this city and
to other points,
Mr.. Twitchell was asked if the report
sent out that the new company would be
capitalized at 81 100000 was true. Mr..
IWltchell said those figures might be a
little high, but he added: las | have said,
the syndicate is composed of experienced
men who control a great amount of cap
ltai and it will take a large amount of
money to carry out our plans
A SUICIDES LAST MESSAGE.