The sun., 1900-01-31
CITY RAILWAY DEAL REPORTED
Ii is Said That Peter j. Ford
Has Assumed an Interest in
the Traction Company.
OFFICIALS SAY IMPOSSIBLE
General Manager Iiugar Explains
why MIR. f ,rd Could Not Get
Control But the Latterwill
Make Statement In u
Few Days.
OFFICIALS SAY IMPOSSIBLE

There is something brewing in the
affairs of the United Power and Trans
pnItation Company. Report had 1t yes
ierday tnat there is to- be- another change
in the mansg. ment of the Wilmington
City Railway Company, which il in
cudtd in the many railway systems
operated by the United Power and Trans
portaiion Company. According t0 the
report Peter ]. Ford, Of this city, is to
figure largely in the change The report
remains confirmed, and while Mr.
Ford himself does not deny the report
General Manager John G. Lrgar and
,.ther directors of the City Railway Com
pany have taken the trouble tn point out
the impossibility of Mr.. Ford purchasing
any control except through the ssndi
cate, and that they deny
The rumor, as circulated yes erday, is
that Mr.. Fnrd, assisted Ivy capitalists OF
| New York had purchased the control
ling interest of the Wilmington City
Railway Company. MIR. Ford was seen
Yesterday and refused to discuss the
matter He said that he would be
IN position to speak within lew
days.
IL is said by manv who are well up in
| the present management of the Will
mington City Company that it would be
impossible for Mr.. Fmd anyone else
to purchase the control OF the lncal rail
way owing TO the fact of il being owned
aud operated by a s,ndicaie known as
the United Power and Transportation
Company.
When seen last evening Genera
Manager JOHN G Lugar Of the Whining
ton Guy Company said he was ignorant
i anyone having puI chased lhe road
aud CAV, it as his opinion that " wonId
he Impossible fur All, one 10 purchase
The controlling interest OF the Whining
ION Railway without purchasing the IN
the holdings Of the syndicate. Mr.
lngar further ttatt d that at the timt
when the city railway passed into tht
coutrnl of the Unhed Power and Trans
poptation Company, the latter company
--cuied all ui the stocks. The stock
holder was given the option of sellin.
his shares for money or for trust crrtiti
Gates. These trust certificates guaranteed
tie holder 4 per cent. on his none,
whether the railway company paid o
not. His per cent was guaranteed to hin
nv the Trust Company issuing th'
certificates.
THIS plan put the control of the rna'
entirely IN the hands OF the indicate
! and the holder OF the trust ce tificate ha
: no say in how the road shall oe man
> aged, nor can he sellhs shares furthe
than to sell the investment or p 'babl.
sell his shares to the syndicate Tor cash
He realizes his interest and no more,
1t may be that the entire holdings o
|, the United Power and Transportati VI
! Company's holdings are about to chang
nauds and be sold tu Mir. Ford and hi
friends.
Mr. Ford is out OF town and will b
away until the latter part of the week
He went to Philadelphia yesterday. Hi
business may be to assist in negotiating
the deal.
IL Is understood that President Johl
A Rigg, OF the railway company, was il
/. Wilmington laat Monday and held
conference with Mr.. Ford.
Mr. E,nd IS Interested in the New
] Castle & Wilmington railway, and thi
D fact gives credence to the rnmnr, ~ th
! New Castle line would be very material
o ly benefited by joint management 0
I the two roads.
! Petei l. q par, .Ir,, attorney for TIN
New CASTE & Wilmington Railwy, la
p night denied any knowledge of the d-a'
and when asked # tiie N-w Castle lin
{ lad sold out IT, tie United Power
1 transportation Company. said it had not