The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-06-20
STREET CAR LINES
MAY CONSOLIDATE
Offer Made For Rapid Tran
sit Control.
FROM STOCKHOLDERS
OF SALT LAKE LINE
Believed That Proposition viii
be Accepted.

NC ACOClJ1Cu
The consolidation Of the street rail-
wy companies Of Salt Lake con-
summation that has been hoped for
number of times in the past. thas has
been nearly accomplished on a half
dozen different occasions. is nearer per-
lection today that it has ever been be
fore in the history Of the roads As
the matter stands, an offer has been
made by the men who control the Salt
Lake City line for a controlling inter-
est. IN the Rapid Transit company This
oIier IS now being considered with the
probabilities strongly in favor of its
acceptance
The Rapid Transit company is eapi-
tailzed at 100000, divided into 5000
shares Of the par value Of 500 each
The offer from the salt Lake people
Tor the stock is on a. basis of from $40
OF &o0 per share, or in the neighbor-
hood OF fourth of the par value The
. control Is held By j. S. Cameron. . resi-
dent - the company, and r. Nash
Spau.d1ng Sc Co, q firm of Boston cap
atailsLs- AT SO share, this would
. make the control cost $50, $50. The
proposition was made, IL is stated. at
a meeting held recently in New York.
which was attended by A. w McCune
. president and owner Of a. large rlg ior-
ity Of the stock of the salt Lake CITY
company; j. $. Cameron If the RaTid
Transit and Z. =. Critchlow, attorney
Tor the salt Lake City line.
a. w. McCune yesterday declined to
discuss ehe consolidation talk, al
though lac did not deny that such a
/ proposition was on foot Il would
very much like to see "a consolidation of
4 the two roads and have been trying to
accomplish it for years said Mr.. Nc
Sune, 1t would be a good thing. for
lt would stop the Cut-thrOat game the
ROADS nave been compelled to play"
ar McCune declined to say whether
any negotiations were pending at pres
emit
There is really nothing to say" said
Alr. Cameron, when asked about the
matter. IT don't wish to discuss IL at
2ll. These stories nave been repeated
aeout once I'm so often for number Of
Attorney Critchlow likewise refused
g. have anything to say. although like
the others. he would not make a sPe-
-ihc denial Of the stories that are IN
circula tion.
Negotiations in Progress.
Negotiation have been pending
/ heretofore on several occasions for a
consolidation of the salt Lake City and
Rapid Transit roads said a man last
night who 50 familiar with the situa-
ton Her ,OfOre. however. they have
never amounted to anything. I have
Deeu resumed with q view TO pur-
chase of the control of the Rapid Tran
sit road by the salt Lake City's heav-
lest stockholders
These negotiations are now in prog
ress. They may or may not amount 70
anything. AS to whether there win or
VIII not be consolidation Of the two
companies VIII depend on the future
progress Of the Negotiations now un-
der way. Is the proposed purchase is
compile tedLthaC is. If the offer made
by the salt Lake company is accepted
lit IS entirely probable that a CONSOLE
dauon VIII be enected or that some
sort ~ agreement viii be entered into
whereby ..0Ch system viii keep out of
the territory occupied by the other"
In spite of the refusal of parties in
terested 10 confirm or deny the report
&c is "a settled fact that the consolida-
tion IS likely to be completed within
the next ten days. Mr.. McCune, who IS
move heavily Interested than any other
individual. leaves on June p for Lima.
Peru. TO be absent fer an indefinite
period. Unless an answer is received
accepting or rejecting his offer before
that date, an negotiations VIII be de-
There is 'Htsle doubt. however. but
that the proposal VIII be accepted. Tt
has been known for some time that the
Boston capitalists and Mr.. Cameron
were willing to let go of their holdings
81 the Rapid Transit company If IA
vorable terms were offercd. Tt Is
thought that the proposition now under
Consideration by them viii he acted
upon affirmatively and that they VIII
SO notify Mr.. MCCure within the next
Few days
Would Make B6g System
The combined tv9ckage OF the com
bination will be eighty-three miles Of
which forty-seven miles are now under
the control Of the Salt Lake city COM
pany and thirty-siN mites operated by
the Rapid Transit. The advantages Of
the consolidation. not only to TIE com
pdnies. but to The public, are Obvious
With ooth rcsds under the same man
agement. 81 VIII be possible for pas
EenEers TO transfer 20 any part of the
city.
Ut Is possible that some of the ex-
tensions proposed will be abandoned.
notably the one south on West Temple
street 20 Murray and the Highland
Boy sneiter. This would he in direct
competition with the Rapid Transit's
Murray line and would De unnecessary
with 10th roads under the sstWe man
agement. Another possibility 5uld be
the atandcnment of some of the lines
now in operation. which practically
parallel each other
The Rapid Transit company rs bond
81 70 the eXtlat OF S50000e. but the
holders of the 1nds -''iIl not be az
fected by the proposed sale. Their
security VIII remain the SEINE in any
event