Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1901-02-11
Local Lines Included In
Project.
Central Of Cleveland and Subur.
ban Lines.

Mr.. Henry A. Everett, President Of
the Northern Ohio Traction Co., is
credited with being behind q plan to
consolidate the Akron lines and all the
Suburban lines entering Cleveland
with the Big Consolidated Of that city.
A Cleveland special says: Rumors
are being circulated to the effect that
the Cleveland Electric Railway Com
pany and the various suburban rail-
way companies running out OF Cleve-
land will be incorporated into one
mammoth company. This, it Is claim
ed, would also include the Akron street
railways.
Little attention was paid to the ru-
mors at first. 1t was only after about
1000 shares of Big Consolidated stock
had changed hands that they were at
all seriously considered. 1t was then
intimated by the members of a coterle
of men who had been dealing in stocks
that they had been given a "tip" to
purchase all the Big Consolidated stock
they could. The claim was also made
that they were told that stock in the
suburban railways would also be well
worth buying.
Prior to last week not more than a
total Of 300 shares of Big Consolidated
stock had changed hands in n month.
On Friday the rush commenced. A
steady demand was made for Big Con-
solidaed sock early in the day and
the price jumped from s61a to SO.
Just 1890 shares changed hands during
the day. Yesterday the stock contin-
ued firm, rising to 911a before the day
closed. In all $500 shares were sold
up till noon, by which brokers were
frantic in their efforts to procure more,
Most Of the sales yesterday were in
good-sized lots. One represented 300
shares. Several were for 200 shares.
Inquiry among the directors of the
Cleveland Electric Railway Company
developed the fact that President Hen.
ry A. Everett and Il. w. Moore have
been in New York city for several days.
1t was stated by one director that it
was not at all unlikely that Messrs,
Everett and Moore We're in the east
for the purpose of negotiating the mon
ey necessary to carry through some bis
When asked as to the truth
of the rumors concerning contem-
plated consolidation of the Cleveland
Electric Railway and the suburban
railways, he said: "Rumors concern
ing this reported consolidation have
been in the air for long time. It is
bound to come sooner or later. As IL
is, / am in the dark as much as any
one else In any event, only few
of the officers of the Cleveland Electric
Railway Co. will know anthing def
mite until the transaction has been
practically closed"
J. ]. Stanley, one of the Big Consoi.
idatcd directors, was disposed to be
secretiye regarding the matter, At first
he stated there was something in the
rumors.
How about the activity in the stock
marketT' he was then asked.
81 don't care to talk about IT, he
said. - will not be interviewed on the
subject"
r. A. Harmap, vice president Of the
Cleveland Electric Railway Co. said:
1T Is true that President Everett and
Mr.. Moore have been east. AS to their
business there, I can not say"
Richard Palmer, of the Cleveland &
Chagrin Falls Railway, said that SO
far as his company was concerned
there was nothing to the rumors. This
corporation controls about "a miles of
railway.
The Cleveland, Elyrla a. Western
Railway is considered among the
strongest of the suburban railways
coming into Cleveland. The stock il
controlled by the Pomeroy family. II
is considered improbable that this prog.