Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-02-12
A BIG BUSINESS D[AL.
SEVERAL VALUABLE PROPERTIES
TO BE ABSORBED BY THE
w. a. e. G. RY. CO.
EXTENSIONS MAY BE MADE
Although the Company Has No Pres
emit Plans Along That Line-A
Bond Issue of Million and a
Quarter-DetaiIs of the COnsoIfda-
ton of Very Valuable Suburban
Properties.

Yesterday the details of big deal
by which the Wheeling & Elm Grove
Railroad Company will absorb very
valrs.ole properties, were made pub
lie. The Wheeling Park Association,
the Suburban Light and Water Com
vany and the Suburban Railway Com
pany, are to be merged into the
Wheeling & Elm Grove, and all are in
future to ge under one management.
Elsewhere in this issue of the Register
appear calls for special meetings of
stockholders of the w. & E. &. r. R.
for the purpose of perfecting plans for
the absorption of the companies men
toned.
1t is proposed to issue bonds to the
value of 81, 25O, 900, to run thirty years,
bearing interest at the rate Of 5 per
cent. payable in gold semi-annually.
Four hundred OF the bonds will be Of
the denomination of 500 each, and
1,210 of $1,000 each. The bonds are to
he accepted by stockholders IN the pres
emit companies, in exchange for their
stock, and it is understood that some
of them Will be placed on the market.
The properties are to be mortgaged for
a million and a quarter, with the
Wheeling Title and Trust Company as
the trustee.
OF the bond issue, about S750,000 in
round figures is to be used to pur
chase the stock of the present compa-
MES, which will go in at the following
figures.
/ Wheeling Park Association 500, 800
Suburban Light & Water Coz. los, $50
Suburban Railway Company. 1000
| Wheeling & Elm Grove pref 100, 200
The trustee will also provide for the
redemption of existing bonds, as fol-
lows:
Wheeling Park Association. q, 900
Suburban Railway Company 1890. 1900
w. & E. G. r. r. Co................ 225, 900
Add to this $4,000 to cover the float
ing Indebtedness of the w. < E. G..
and Suburban Railway Companies
makes total Indebtedness of $344, 600;
which, added to the stock of the four
companies, makes a grand total OF
$72O, $50; leaving in the hands of the
company, for it's use, about $50, 900 Of
the $500 00 to be set aside for pur-
chasing the various properties, retir-
ing the existing bonds, and the pre-
ferred stock of the w. & E. G. Co. The
Wheeling & Elm Grove common stock,
to the amount OF $67, $780, is not in
Guided in the figures given.
The stock of all the companies is to
go in at par, except the Suburban
Light and Water Company, which is
bought at 80.
Half a million dollars of bonds is to
be held by the trustee for exigencies
and betterments, subject to future
action by the Wheeling & Elm Grave
Company.
The meetings at which the deal is
to be consummated, are called for
March 18th and March 18th, the for
mer to perfect the details and the lat
ter to provide for the bond issue.
1t is believed that the Wheeling &
Elm Grove Railway Company con-
templates very extensive improve
ments, but what they will be can only
be surmised. Mr.. Paul o. Reymann
stated to Register reporter that no
plans for immediate improvements or
betterments are under consideration.
One OF the probable improvements will
be the extension of the electric railway
line from the eastern terminus of the
Suburban, at Triadelphia, to West AL
exander. 1t will be remembered that
the Board of County Commissioners
has granted the right of way for this
extension of the road.