The Savannah morning news., 1901-11-24
TO RATIFY The DEAL
MEETING OF EDISON COMPANY
STOCKHOLDERS CALLED.
TO BE HELD DECEMBER 9
TROLLEY AND ELECTRIC LIGHT IN
TEREsTs WILL THEN MERGE.

Signed by George Parsons, Repre-
senting the savannah, Thunder
bolt and Isle of Hope Railway
and stone & webster, Represent
ing the Edison Electric IIIuminnt-
ing Compensated Railways
Approval Already Assured and
Approvnl of stone a Webster and
others Makes 1t Certain Edison
Stockholders VIII Yield Their As
sent.
The Morning News announced yes
terday that the trolley lines OF the
Savannah, Thunderbolt and Isle OF
Hope Railway Company, in the city
and suburbs. would change ownership
about Jan. l, and pass into the con-
troll of the capitalists who now own
most of the stock in the Edison Elec-
trio Illuminating Company.
Although some of those most closely
interested in the movement hesitate TO
confirm the report with absolute posi-
tiveness, there are others who say that
all the main differences have been
reconciled and that only lew
minor details now remain. All
the essential features of the proposed
consolidation of the electric interests
in Savannah were given in an article
first published in the Morning News
month or six weeks ago.
Mr.. George ]. Baldwin, president Of
the Edison Electric Illuminating Com
pany and the probable head of the new
company that will succeed 1t, said
that the negotiations for the
absorption of the plant Of the Savan-
nah, Thunderbolt and Isle of Hope
Railway by the interests controlling
the Edison Company have not been
completed and it will probably be
some days before they are.
A call, however. has been issued for
a. meeting of the stockholders Of the
Edison Electric Illuminating Company,
which will be held at the offices of the
company on Dec. 9, Ito see II the
stockholders will approve certain
contract, made between George Par
sons and Stone & Webster and others
and dated Oct. 1, 1901"
Mr.. Parsons assent to the transfer
leagues in the control of the Savan-
nah, Thunderbolt and Isle OF Hope
Railway has already been given.
Mr.. Baldwin said that an application
will be made in the course OF Few
days for a charter for THE Savan-
nah Electric Company" the new cor
poration by which it is probable the
allied trolley and electric light and
power interests will probably be con-
fnr1
to the Secretary of the State, and not
TO the Superior Court.
This" Mr.. Baldwin was careful to
explain, 'is a matter of convenience
and precaution merely. 1t is possible
that the consolidation OF the electric
light and power and trolley interests
will fall through at the last moment,
but If they do not, the new company
will, in all probability, control them"
Mr.. Baldwin would not say what
the capital stock of the new company
will be. This will appear in the ad-
vertisement of the petition for char
ter. =.
'I'll tell you one thing, however"
he added; "the capital stock and bonds
combined won't be anything like w.
100000
The combined capital stock and
bonds of the Savannah, Thunderbolt
and Isle of Hope Railway Company
amount to $2,25O,000, and those of the
Edison Electric Illuminating Company
to $625, 900, a total of $2,S75,000. There is
no probability that the aggregate cap
atalization and bonded indebtedness of
the new company will greatly exceed
this last amount
Mr. Baldwin was asked what plans
those principally interested in the or
ganization of the new company had
made for the Improvement of the troll
ley system in Savannah and its sub
urbs.
THAT is still the subject of investi-
CATION" he said, land positive plans of
betterment have not been made. can
only. say that the public must judge
what is likely to be done by the i'm
provement that has been made in the
electric light and power service in Sa-
vannah since 1t passed into the control
of the Edison Electric Illuminating
Company. / don't believe there is any
just cause of complaint on this score;
/ don't believe there will be any as to
the management of the trolley system
should it pass into the hands of the
new company"
Mr.. Baldwin during the day. The cleo
trio light plant was gone over again,
and to-day will be spent in inspecting
the street railways system.
1t is probable that all of the suburb
an lines will be inspected by Mr.. Wy
man, with General Manager MeIntire
Mr.. Wyman is thoroughly posted on
electric railroads, and will be in Sa-
vannah for some time. The present
facilities of the Edison Company have
also been examined by Mr.. Wyman
and it is altogether probable that one
power house, with new machinery. will
be used after the consolidation.