The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1898-06-07
NORTH JERSEYS PLANS.
Prominent Capitalists Elect
ed Directors at Yester-
days Meeting.
TERMS OF THE NEW LEASE,
Mr.. B. M. Stanley Outlines
the Plans of the Company
Wont Buy North
Hudson's Lines.

The North Jersey Street Railway Com
pany is now fairly under way in this
county since its acquisition of the lines
af the Consolidated Traction Company.
The stockholders met yesterday after
moor and elected the directors for the
company. The election resulted in these
gentlemen being selected.-Messrs. John
F. Dryden, Leslie d. Ward, Peter Hauck,
]. F. Kehoe of the Lester Chemical Com
pany, James Roosevelt STANLEY, David
Young, representing Newark's interest;
sAhram cuarles Garretson. George F..
Perkins, Edward F. c. Young. repre-
senting Jersey City; A. ]. cassatt, T.
Dolan, F. A. B. Widener, William L. Ell
kins, representing Philadelphia interests,
and John D.. Crimmins forNew York in
tereSts.
On Thursday next these newly elected
directors will meet and elect officers.
This is the slate to go through:-Presi-
dent, E. f. C. Young; Vice President
David Young, Auditor. +. H. Hibbs;
Treasurer, E. N. Hill; Secretary. Wilbur
S. Johnson: General Superintendent,
Frank Ellmaker.
The North Jersey Company, now con-
trolling a vast system of trolley lines,
branching through the counties of Hud-
son. Essex and Union. employs a staff OF
4.oOO men. In charge of the Essex county
lines will be E. F.. Hebbard. H. w.
Fuller will be Superintendent of Hudson
county, and G.. f. Chapman will be in
charge of the Union county lines, and,
if anything can be done to make the sys-
49, -. o,a,4 of sac hind in the
country, that will be done. The views of
the company were will expressed TINS
morning to a News representative by
one who is an ~undoubted authority in
railroad construction work, Mr.. b. M.
Stanley. His experience and sound judy
ment will guide the construction depart
ment of the company. Touching the COM
pany's plans Mr.. Stanley said
THE policy of the North Jersey Street
Railway Company will be to build such
extensions of road as the people may
want. Whenever the public demand a
new line laid down we will accede to their
desires provided always that the locality
through which the road is proposed is
sufficiently built up to warrant the North
Jersey Company in assuming the conse-
quent expense of construction. Should
these conditions be fulfilled the public will
quickly find that we will extend to them
the Improvements. In short, our plan is
to give better service in the interior and
to give the travelling public an oppor-
tunity to get about in the towns and cities
through which the North Jersey Com
pany's lines run.
Mr.. Stanley laughed at the runOr re-
Gently circulated that the North Jersey
Railway Company was negotiating to
purchase the lines of the North Hudson
County Railroad Company, which run
through the northern part of Hudson
county and extend through a portion of
Bergen and Passaic counties. The rumor,
he said. was a piece of buncomb manu-
featured out of whole cloth and set afloat
by parties interested in North Hudson
stock. So far as the North Hudson
County Railroad lines were concerned
the North Jersey Company had made no
overture to purchase and no such scheme
was intended.
A copy of the lease by the Consolidated
Traction Company of all it's lines to the
North Jersey Street Railway Company
was filed in the Registers office this
morning. By the terms OF the instrument
the Consolidated Company transferred all
its property to the North Jersey Company
for 999 years after midnight of May 81 last.
The North Jersey Company assumes all
the taxes, debts, contracts, obligations,
guarantees and suits of the Consolidated
Company.
On the execution of the lease the lessee
paid to the Consolidated Traction Com
pan 81. 900, 900. Rental is to be paid sub
Spul1anfly the FIRST irfsfa1rnpnf mn, Daoem-
Der 81, 1899. Each year following, up to
1906, rent graduating from $500, 900 a year
to $500, 600 is to be paid.
The latter amount is to be paid in 1906,
being four per cent, and four per cent.
forever thereafter: The lease gives to
each stockholder the right to sue, in the
name. of the company, for his share OF the
rental.
1t is stipulated that the North Jersey
Company shall make no diIninution, in
tolls from travellers on it's lines unless
with the written consent of the directors
of the Consolidated Company.
sinking funds of the Consolidated Com
pany, but the latter will extend any bonds
that the North Jersey may desire. The
North Jersey must also pay Ms250 semi
annually to enable the Consolidated COM
pany to keep up its corporate organization
and the salary of the Prssident Of the
Consolidated Company at $4,000 a year.
In case of default on any part of The
agreement, ninety days extra are allowed
in which to fulfill it, otherwise the Con-
soIidated Company MAJ take posSesslDn-
The lease is signed by Edward f. 6.
Young, President, and Thomas ]. George,
Secretary, on behalf Of the gonsolinaled
President. and Wilbur S. johnson. Sssre-
tary, on behal Of the North Jersey Eom-
pany.
DESPERATE INSANE WOMAN.
- WwF1sYx