Evening journal., 1898-02-05
STILL NEGOTIATING.
Syndicate Must Come to Terms
in a Short Time.
CHESTER SYSTEM CHANGES HANDS


DENT SALISBURY CONFERRED
WITH BROKERS YESTERDAY IN
PHILADELPHIA AND NEW
YORK.
On account of the visit Of President
Preston Lea and Vice-President WI
lard Salisbury, Jr., TO Philaoelphla
and New York yesterday, II was re
norted that the deal which has been
pending for some time between a syn
dicate represented by u. W. Clark q
20 the philadelphia bankers, and GER
tain stockholders Of the Chester Trac-
tion COMPANY and the Wilmington
CITY Railway Company had been closed,
and that a controlling interest had
been secured by the syndicate in both
companies. A representative OF p. W.
Clark a. Co. says that he understands
that the deal has heau closed, but. ow-
ing to the absence from the city OF the
man who carried on the negotiations
on behalf Of the syndicate, the terms
could not be learned. IL Is stated that
control Of the Chester company was Sc
cured by the purchase Of the stock held
bv the estate of Colonel s. A. Dyer, the
| former president of the company.
II is understood that the plan 10
consolidate the systems in Chester and
| Wilmington under a single company
/ which is to be organized, and to con
meet the two cities by the construction
Of a link of about miles Of track be-
| tween Marcus Hook, the southern ter
minus of the Chester company, and the
| northern terminus of the Wilmington
| company at ShellpOt Park. This VIII
give continuous railway connections
between Philadelphia and Wilmington
by way of Daiby, to which point one OF
| the lines of the Chester company ex-
| tends.
The Chester Traction Company has
a capital of $500, 900, all issued. IL Is
| consolidation by lease Of the Union
Railway Company, the stock OF which
IS owned by the Traction Company, or
the Chester Street Railway Company
the Chester and Media Electric Rail-
way Company. and the Chester, Darby
and Philadelphia Railway Company
| comprising the entire street railway
system Of Chester. The bonded debt
amounts to about $675,OOO, at per
| cent. and the rentals are about $4O,OOO
The receipts of the company IN loyt
we're S208 600, and the net income Is
| given as S5O,OuO.
The OFFICERS and directors Of the
| company are: President, G. Is. Lind
say: secretary and treasurer, II. T
Walter; directors. Robert Wetherill
Richard Wetherill William Appleby
Frank Black and G.. B. Lindsay.
, The Wilmington City Railway Com
many controls and operates the entire
street railway system OF Wilmington
proper. There is an independent shor
line Of two miles in the northern su
. | burbs. and an independent line con
] Meeting Wilmington and New Castle
2 | and a line is under construction be
J., tween Wilmington and Brandywin
e Springs.
. The capital of the Wilmington Cit
;, Passenger Railway Company is $4l4,
d 2S4. IL controls and operates the From
e and Union Street Railway Company
and there are twenty-five miles O
track in the system. The funded deb
is 5000 900. and dividends of five pc
d cent. have been paid. The officers an
- members of the board Of directors are
g | President, Preston Lea: vice-presi
e dent. Willard Salisbury, Jr.; secretar
6 | and treasurer, Frank T. Webb; direC
@ tors. Preston Lea, Edward Bringhurs
n Jr.. William w. Pusey, Willard Sauls
Il bury, A. J. Hart, r. w. Dwight and
& c. Biddle.
One of the stockholders Of the Wi
mington City Railway Company, VIII
is said to be in the poll of 5000
:, | shares, representing the controlling II
- terest, yesterday stated that the de-
would be consummated within the ne1
y forty eight hours or the negotiation
- would be dropped.
- The deal for the sale and delivery
. the stock of the Chester Traction Con
pany, held by the estate Of Colonel
A. Dyer, of Chester, was cOnsummats
yesterday at meeting held by Geori
b. Lindsay, president of the compan
and Henry c. Howard, president OF Il
r Delaware County Trust Company. an
at the representatives of E. w. Clark
ID Co., of Philadelphia. The new synd
IN cate will take charge of the manag
~ ment of the Chester Traction COmpaI
n on Tuesday next, when the reorganiz
ton of the company will be perfecte
The Union Railway Company will
turned over, but the Chester Sire
al Railway and the Chester and Darl
IT. and the Chester and Media lines W
i'll maintain their organizations and
IL operated by the company as heret
a fore.
II was rumored to-day that the de
had been closed, but confirmation cou
not be obtained from the local railw
All officials.
ne Il believe that the deal is abo
nt closed" said local financier to-da
ce "but am not in possession of any d'
n mite information. nor have | been al
to learn any Of the details"
g WoNlAN's INDIAN ASSOCIATION
Arrangements will be made for hol
-, ing a birthday party on st. Valentine
=. Day at the residence Of Mrs. Geor
,,S c. Hall, by the Woman's Indian Ass
n citation. The meeting will be held
Monday afternoon at the home Of NJ
Sarah T. Hilles, No. 1902 King street
I. w. Gibney has moved to the Ga
ire throp building, 31S Shipley street, un
me March 25. when he will occupy
ire store, 313 Market street.
ps, -----
Ich X. OF p. ENTERTAIN.
An enjoyable smoker was given Il
night by Oriental Lodge, X Of p. in