The evening times., 1899-02-01
ELECTRIC DEAL
In BALTIMORE
Lighting Plants Purchased by
Street Railway Combine.
Cash Transaction Said to Amount to
Three Million Dollars.
Brush, Northern, and Edison COrpO-
ratiOns Inciuded-Benefits to
the Public.

Baltimore. Feb Alexander Brown and
the other gentlemen associated with him IN
the syndicate which will control all the
street railways in Baltimore have purchas-
ed all the property of the three electric
lighting companies in the city. 1t Is cash
deal and IL is reported that the price to De
paid is about SO, 600 900. This will give the
syndicate full control OF the street railway
and electric lighting systems in the city.
The three electric companies are the
Brush Electric Company, the Northern
Electric Company, and the Edison Electric
and Illuminating Company. Mr.. Brown
conducted the negotiations for the syndi-
cate. Mr.. George Westinghouse represent
ed the Brush Company, and Mr.. Windsor,
of Messrs. Kidder, Peabody & Co., bank
ers of Boston, represented the Northern
and Edison companies. Several confer
ences were held on Monday and the deal
was closed that night at a final conference
held at the Maryland Club. In the con-
summation OF the deal Mr.. E. j. ID. Cross
was attorney for the purchasers and Mr..
Skippith Wilmer for the electric COM
panies 1t is understood that the gentle
men present at the conference had fuli
power 10 act for all interested parties and
papers we're at once signed closing the
deal.
Transfer of Properties.
The transfer Of the properties OF the
electric lighting companies will take place
in about thirty days. 1t is understood that
the plan of the syndicate is TO organize
separate companies for the management OF
the street railways and the combined cleo
trio lighting systems. The power Tor the
operation OF the entire systems will prob
hlv ha cd
railway power houses.
Beneficial to the Public.
or the three electric companies the
Brush is the largest. II is capitalized at
81. $50. GOO, divided into ss5O,OOO preferred
stock and $500, 600 of common stock, par
value 800 II is bonded for 81 ,232 500 III
5 per cent The bonds of the Edison ag-
gregate $537 GOO at per cent and OF the
Northern slOO, eco at per cent. The two
latter companies have been controlled al
most entirely by out-of-town capital.
The members of the syndicate believe
that the consolidation of electric lighting
and street railway companies viii result
benefcially TO the public rs well as to
themselves as their plants are almost OF
the same nature They expect 10 make
such an arrangement under consolidation
for the operation of the plants as will
greatly reduce the expenses By this econ
omy they claim the public will be benefited
and prices of electric lighting can undoubt-
edly be reduced and the expense OF lllu-
minating dwellings by electric lights can
be placed within the reach of great many
more people than at present. They are
also of the opinion that there is also a
field here for the furnishing Of electrical
power TO small manufacturing plants.
which has never been developed.
1t is understood that negotiations had
been going On for a short time looking
to the, consolidation of tie three electric
lighting companies and ,he Consolidated
Gas Company.