New-York tribune., 1901-01-28
A DREAM OF EMPIRE.
ALLEGED PLANS OF THE ELKINS-
WIDENER-WHITNEY SYNDICATE.
A TROLLEY EXPRESS LINE TO BOSTON
AND GENERAL COMPETITION WITH
THE CONSOLIDATED ROAD
RIJMORED
RuMORED.

Bridgeport. Conn. Jan. q (speciaD-within
two weeks. 1t is reported. steps will be taken in
| the General Assembly toward carrying out a
| great electric railway plan. The plan will
be furthered in New-York State it is said, the
purpose being to procure legislation in both
States for the promotion of the scheme. which
will sooner or later connect New-York and Bos-
ton by electric line There are several inter
esting ramifcations connected with the project
which. taken together. may precipitate a great
contest between the steam road and the trolley
road.
Ostensibly, the Connecticut Railway and
Lighting Company is the concern behind the
undertaking, but In truth it is said to be the
Elkins- -Widener- Whitney syndicate that pro-
poses to do battle with the great consolidated
road.
The United Gas and Improvement Company
of Philadelphia, a considerable time ago ac-
quired the gas plant IN the city Of Waterbury,
Then came the acquiring Of the various street
railways In Connecticut by what known
as the A NJ. Young syndicate, but which was
really the beginning of the formation Of the
Connecticut Lighting and Power Company
which branch Of the United Gas and I'm
provement Company, Of Philadelphia. The troll
ley roads about Connecticut fell into the hands
of the Connecticut Lighting and Power Com
pdHy ldpluiS Inc COIlpdHy Hoeueu d OdHhlHS
institution Of its own. and a charter was OBJ
tained from the Legislature of four years ago.
magnificent building erected in Water
bury, which is known the Colonial Trust
Company. Here the banking business OF the
Connecticut end of the great electrical syndicate
is carried on. and 1t is a model institution Of it's
kind
About the close of last year the Connecticut
Lighting and Power Company asked for pernis
sion to increase its capital stock of S1.OOO.OOO
to S15.000OO0. Last week in the New-Haven
County Superior Court a change of name from
the Connecticut Lighting and Power Company
was asked to that OF the Connecticut Railway
and Lighting Company. This granted.
LINE ALMOST COMPLETE NOW.
The Connecticut Railway and Lighting Com
pany with the exception of two breaks. has
complete line between New-York City and this
State, and 1t would have little trouble in ac
quring small lines in Massachusetts TO complete
the unbroken chain OF electric roads from New
York to Boston. 1t is in Stamford and Meriden
that the electric syndicate meets two great
barriers erected at these points by the New
York, New-Haven and Hartford road The steam
road owns the two electric lines in question To
purchase them is out OF the question. because
the consolidated road will not sell Nor is 1t
feasible to attempt to parallel them, for it is
scarcely likely that any Judge Of the Superior
Court would grant the right OF way to do so.
There was a great fight when the electric road
wished 10 parallel the steam road. and 1t was
only the argument of public convenience and
necessity demanding the parallels that finally
won out for the electric road. But IL would be
a difficult matter TO convince a Superior Court
Judge that public necessity demanded the
paraIlelng OF an electric line by electric line.
The general statutes OF Connecticut relative to
the condemnatory proceedings by which a rail-
road company may acquire land for its purposes
was placed on the statute books long before any
one thought that trolley or electric roads would
some day be knocking at the door to be let in
under this general statute. 1t is proposed to in
troduce an amendment to the general statute,
SO that electric roads will hereafter be included
with steam roads.
Then comes another STEP which may be i'm
the form of amendments TO two acts passed Ey
the General Assembly of 1895. When the act
concerning corporations came before the General
Assembly of 1895 It was passed without any OBJ
lection. The act provides that any company in
corporated In Connecticut which is not pro-
hibited by its own charter provisions or the gen
eral statutes of the State may acquire. purchase
and hold stock securities of any other COM
pany incorporated by doing business under
o.
Immediately upon its passage. May II. 1895 This
the first step of the plan OF the Consolidated
road to get control of the Fall River. Stonington
New-London. Providence and Norwich lines of
steamboats,.
SECOND LINK IN THE CHAIN.
In the same session of the General Assembly,
June 26 the second step taken in the form
of an act concerning stock of Incorporated COM
III.
In any railroad company acting under the
acquired more than three-quarters of the capital
stock OF any steamboat company Terry COMPANY
pany, and cannot agree with the holders OF out
the finding by Judge of the Superior Court that
such purchase will be for public interest, il may
the manner provided by Section S464 of the General
Statutes and when said appraisement shall have
been paid deposited provided in said section
the stockholder stockholders whose schare or
ceaseS to 'i have anv interst therein and shall on
demand made. surrender said stock and all certn-
APPRAISAL ana upon the deposit Of said appraisal
said certificates shall be deemed to be cancelled
There has been some question as to the con-
stitutionality OF this act. it seems TO be in
direct opposition to the United States law rela-
tive to the formation of trusts. but yet no
one has tested the law to determine its validity.
1t is explained that the name of the Connecti-
cut Lighting and Power Company changed
a week ago to the Connecticut Railway and
Lighting Company, to bring the electric COM
bination under the head of railroad company
in more particular manner than 1t would have
been considered to be under the old name.
With the general statute relative to the con-
demnation of land by railroad companies so
amended as to let the electric roads in on the
same level the electric roads could take advan-
n he tyTO