The times. [volume] (Richmond, Va.) 1890-1903, 1899-11-22
NEW SYNDICATE
IN THE FIELD
The Fight for Street Railway Fran
chises Has a New Feature,
Mr.. P. B. SHIELD HAS RESIGNED.
lie Joins the New Corporation Which
H. Backed by Men of Mcans-Thc
Other Syndicatcs Have
Friendly Understanding.

The hot feht for street railway fran
ohises. which has been in progress here
for some time and now seems TO be
drawing 20 close. will have a new cle-
nent Of interest added IN the shape OF
another corporation which viii contest
for the prize.
The gentlemen interested in the new
syndicate are. many Of them, wealthy
men. being able, 81 is stated 10 control
several million dollars.
MR.. SHIELDS RESIGNATION.
Mr.. Phil. Il. SHIELD. for some years tbs
efficient counsel for the Richmond Irac-
tion COMPANY has resigned that posi-
ton ana has thrown in his lot with the
new applicants.
The General Committee on streets VIII
meet tomorrow night 20 receive The re-
port of the subcommittee On the oIu-
nance granting the electric franchise TO
the Boyd Newton syndicate.
This sub-committoe. after many long
sitiings has completed Its work ana
done 1t thoroughly and well Only one
question was left 0pen-that of taxation.
The companies made a fight for TAX
OF only FIVE PER cent. on Dos gross re-
ceipts. whereas the contention OF
number of the members Of the SUBJ
committee was that they should be re-
quircd 10 pay The regular tax OF ST." per
hundred ON their plant and equip
mcnt. in addition 10 the five per cent.
There Is little doubt that this viii De
finally agreed upon.
INTERESTING SITUATION
a review OF the situation az this time
is decidedly interesting. The matter now
seems 10 have been greatly simplihed
owing 10 the fact that an apparent UNI
derstdnding has been arrived at by the
Boyd Newton syndicate and the Trac-
tiou company.
The friendly attitude Of each 10 tho
other has been more and more apparent
at each meeting of the subcommittee
There IS mo- doubt in my mind" said
a member Of the Street Committee yes
tsrday. that these gentlemen have
arrived ut an understanding. although
hey DO not admit such 10 be the case
~ am satisfied that the general trend
81 things is toward consolidation of in
torcsfs. aud that We viii see IL before
very long"
Gentlemen I'm position 20 know said
yesterday that there was no doubt
that arrangements had been t4city APP
proved by both sides. whereby the new
syndicate. for stated consideration.
would use the tracks of the Traction
Company ON Broad street. and thus do
away with the necessity for two lines to
Hollywood
TIE TRANSFERS.
There will also be no trouble in arran-
cling q system of transfers. which hith-
ertn Tor various reasons. has seemed to
he impossible. 10 Is expected that under
the new arrangement a ticket purchased
from either company VIII be good on any
line in the city or suburbs.
n has been ur- q by experts that ut
least thirty miles Of the outlying tracks
now controlled hy the Richmond Rail
way and Electric Company be taken up
a. nOn-payinr property. This will not be
countenanCed as the Inconvenience TO
hundreds Of citizens who have located
along those lines would be great.
Members OF the street Committee seen
yesierdS-' expect that the action OF the
subcommittee viii be unanimously en-
dorscd by the general committee to-mor-
row night. and that there will be a called
meeting Of the Council 10 pass upon it.
They expect. if the rate OF taxation
above mentioned IS adopted, namely; $40
on the hundred and 8 per cent. Of the
gross receipts revenue will be derived
for tho city amounting 10 about $4,000
annually.