The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-05-08
AN IMMENSE COMBINE.
Gigantic Transportation Deal Made in
Chicago.

Chicago.
Chicago, May 1.-THE Record says:
IN this city to-day the Whitney Elk
ms Wldener syndicate of New York
and Philadelphia closed a gigantic
transportation deal. More than so mil
lion dollars is directly involved and
indirectly the capital con ,rned
bination was effec.e1 after series OF
meetings at the Audito 'IIm anrsx.
Following are the results: Console
dalton of the Yerkes street railway
lines, and the retirement of Charles T.
Yerl1es from his holding in this proper
ty. Consideration about $5O,00O0O0 and
general share of stock for his son.
e. Yerkes, in the Illinois Electric We
hicle company.
"Details arranged and a deal practic-
ally closed by which the Eastern syndi-
cate will absorb the other street rail-
way interests of Chicago.
permanent organization of the Hin
OILS Electric Vehicle company with a
capital stock of SIS 100000.
Equipment of all street railway roll
ing stock with electric power to be fur
nished by the new system Of the >.uto-
mobile storage, according to patented
inventions owned and controlled by the
American Automobile company of New
Jersey, of which the Illinois Electric
Vehicle company is an arm.
THE establishment in Chicago of
factory for the manufacture of auto
mobile vehicles of all descriptions and
for all purposes; also the establish
ment of line of these vehicles for
business on the streets of this city.
THE men who engineered this
scheme to successful issue were Isaac
l.. Rice of New York. president of the
Electric Storage Battery company, and
the Electric Traction company of this
city; Martin Maloney of Philadelphia,
silent partner in the traction firms of
Elkins & Widener; Charles E. Yerkes
of New York, son of the Chicago street
railway magnate; William L. Elkins,
jr., of Philadelphia, son of the trac-
ton magnate of that city; Egbert Jam
eson, counsel for Charles T. Yerkes,
and Levy Mayer, attorney for the
White lkins- Widener syndicate.
Accompanied by Attorney Mayer,
the Eastern capitalists arrived in Chi
cago to-day. They were met by the
Chicago men interested and Charles r
Yerkes personally escorted the party
on tour of inspection over the lines
of his system. The Eastern men, all
of whom are directors in the American
Automobile company, constituted them
selves the directory of the Illinois We
hicle company and elected officers, who
represent the personnel of the execu-
tive staff of the American Automobile
company, with William c. Whitney,
president
Mr.. Maloney announced that it was
the intention of the company 10 estab-
fish in Chicago Immediately q plaut to
cost about a million dollars for the
manufacture of automobile vehicles. AS
soon as practicable the company intends
to operate in the streets of Chicago IA
certain class of these vehicles to do
the work that ordinarily cabs or car
riages are doing now. This line of
automobile vehicles, Mr.. Maloney ex-
planned, would number about 1000 to
begin with and cheap fares are prom
Used.
1.-THE company will not confine its
field of operations to Chicago or Hi
nois. 1t will extend its system of high
way transportation throughout the
West. Other companies. all arms of the
American Automobile company, are in
contemplation for other Western terri
tory.
with reference to the details of the
street railway consolidation, Mr.. Ma
loney said:
+" 4 am not in position to give out the
details at this time. We have closed
all the business that brought US to Chi
cagO and are now engaged in perfect
ing plans. The details will not be
given to the public before Tomorrow