The age-herald., 1901-06-12
Birmingham Concerns ConsO|i- date With Capital Stock
 of $1O,OOO,OOO MEETING HELD YESTERDAY
Stockholders Decided to Accept Propo. sition of Underwriters--H. M. Atkln- son, lsadore Newman and Old Col
 ony Trust Go. Promoted Deal.

A deal consolidating the interests of the Birmingham Railway, Light and Power Company. the Consolidated Electric Light Company, and the Bir- mingham Gas Company has been ar ranged through the efforts of Isadore Newman of New Orleans, Harry M Att kinson of Atlanta, and the Old Colony Trust Company of Boston. and will be completed this afternoon at meetings of the stockholders of the various compan- ies.
 The new corporation will have capital of $10.OOO0OO distributed in bonds, prefer red stock and common stock. There will be an issue of bonds amounting to 5,OOO,- 900, bearing per cent interest; s1,500, 900 of per cent preferred stock, and $3,500.- 900 worth of common stock.
 The work of securing entire control of the stock and bonds of the three com panies has been in progress for several weeks, and no definite action was taken until yesterday morning, when a meeting of the stockholders of the Birmingham Gas Company was held, and the offer of the underwriters and promoters submitted to the owners of the company.
 Robert Jemisou,. 1sadore Newman and Robert P. Clapp were present at the meet ing and submitted the proposition to form the one large corporation and gain control of the three great interests of the city. By large majority vote the stockholders agreed to enter the consoli- dation and merge the company into the corporation The meeting was then ad- journed until o'clock this afternoon when the deal will be completed.
 Other Companies Meet.
 Meetings of the Consolidated Electric Light Company and the Birmingham Railway, Light and Power Company were held in the afternoon. At both of these meetings the proposition to consolidate was presented to the stockholders and agreed to by large majorities of the stock voting. Both of the meetings were ad- journed until this afternoon at and o'clock when the question of completing the deal will be settled and the new, large corporation formed into one company.
 Atkinson Comes Today.
 Harry M. Atkinson of Atlanta. who represents the interest of the Old Colony Trust Company of Boston in the south was not present at the meetings yester- day, but will reach the city this morn ing at 12 o'clock from Atlanta.
 MT. Atkinson has been foremost in the movement to consolidate the lighting and street railway interests of the city, and 1t is due to a very great extent to his management that the consolidation has been so successfully arranged. Some weeks ago he spent a number of days in the city, afterwards going to the east in the interests of the companies.
 The work of underwriting the is- sue of bonds, preferred stock and com mon stock has been done almost entirely by Messrs. Atkinson, Newman and Gordon Abbott. president of the Old Col ony Trust Company of Boston. In their efforts Robert Jemison of the local com panies has been a very instrumental as- sistant. MT. Jemison has done consider able towards securing entire control of the local securities and pooling the stock so that no obstacle would be hindrance to the final completion of the deal
 Who Will Be Manager?
 The question of who will be at the head of the new corporation and manage the combined interests is one of the most in- teresting that arises in the consolida- tion. It was rumored among those inter ested in the movement last night that a son of Isadore Newman would have the place. It was also stated that the cor poration would be under the complete direction of Robert Jemison. Which of the two gentlemen will be placed at the foremost cannot be told as yet.
 It is safe to say that If MT. Newman is placed in charge of the combined in- terests MT. Jemison will be retained in charge of the lighting and railway in- terests. In fact, this latter conjecture seems the more likely at the present time, owing to the fact that MT. Jemison has devoted much of his time re- gently to planning enlargements and ex- tensions of both the railway company and the light company.
 Who Are Underwriters.
 The men who did the underwriting of the consolidated company are among the best-known men in the financial world of the south and the east Harry M. Att hnson Is president of the Georgia Elec- tric Light Company in Atlanta and at the head of the Atlanta Rapid Transit Street Railway Company. and represents large eastern interests in the south. He has recently built the fifteen-story Elm hire building in Atlanta and is known es =
 (Continued on Second Page.)