The Montgomery advertiser., 1902-05-25
TELLS CONTROLS
 STREET RAILWAY.
Has secured 3.225 Shares of Dim mick Stock and Says Will x.
 Operate System Himself.

You will build. and equip . power house for the system?" suggested The Advertiser man. -, X, v
 T prefer not to say so this afternoon, :. replied MT. Tillis. shrugsing his should- CTS as though he preferred not Id dis at all -. v f,s' - , ' s When MT. Tillis was questioned con- cerning the probability that he had secured control of the Montgomery Street Railway in the interest of the Capital City Traction Company or J. c. White & Co. of New York. he laughed outright
 Why l know nothing of the business or those septlemen.' he said q have acquired this property independent of other people and I know nothing of a consolidation of interests"
 ,, Terms of the Sale. T
 While Captain Dimmick and Mir. Tims aecifned to go. into details concerning the terms of the sale, 1t has been learned nm what appears to be good authority that MT. Tillis secured BPS shares of the 3, 500 shares of the stock of the Montgomery street Railway Company upon payment or about $ls5.0 By that purchase. he assumed the bonded indebtedness of $500. : ooo and the floating indebtedness, of ss0.0oo, making total of about s535. GOO The 275 shares of stock of the company outstand- ing and not purchased by Mir. TiiIis is owned mainly in Montgomery, quite a block Of 1t being held by the estate of the late Colonel John D. Roquemore.-
 It was pointed out yesterday afternoon by a we'll informed man that the purchase of this street railroad stock by MT. Tillis at a price below par was a bold stroke of business enterprise on the part of a man who Is reckoned one of the closest students of financial affairs in this section of Alabama. He said this condition was particularly apparent to him In view of the fact that 1t Is well known that several syndicates have looked favorably upon the property within the past year.
 F 9s'Mr. Tilhs is a financier, and as such has an eye open for good investment. Mark my prediction: the stock of the Montgomery Street Railway Company will change hands within three months. :"
 He further called attention to the fact that the Capital City Traction Company is local 1 corporation of Montgomery business men who are cooperating with J. c. White & Co. big construction and financial firm of New York. This firm is financing the Capital City Trac- tion Company, and he said 1t was barely possible MT. Tiliis had purchased the property for J. G. White & Co.
 
 Capital City Traction Company. .sayA Mir. Tillis has no connection with his com- pany and authorizes--a denial of the re- port that the property was purchased for the Capital City Traction Company" in- terposed The Advertiser representative. . Quite true" said this business man, -'but MT. Tillis may be acting for J. c. White & CO of New York without Colo rel Holt's knowledge At any rate, Mont fhouo trat q s<x,n g
 Colonel Holt Makes Denial,
 Col. B. l.. Holt, President of the Capi- tai City Traction Company, expressed surprise when he was told that 1t was reported that Captain Tillis had purchas- ed a controlling interest in the Montgom- cry Street Railway Company for the Traction Company.
 You. are authorized to deny that we have any connection with Mir. Tillis or the Montgomery Street Railway Com, pany." said Colonel Holt.
 Yes. you are authorised to make that statement" repeated w. H. Ragiand, who was. present. Mir. Ragland Is from Little Rock. Ark, and is one of the pro- motors of the Traction Company. being closely associated with J. OE White & Co, of New York.
 Both MT. Ragland and Colonel, Holt de- clared with positiveness that there would not be a consolidation of the two com pahies; that the Traction Company has completed one mile of grading on the Pickett Springs line, and that the work was going ahead in a most satisfactory manner. and that the improvement in the property of tho Montgomery Street Rail- way Company would not affect their en- terprise. -- '-'
 MT. w. F. vandiver. who, with Colonel Holt. consummated the deal with J, c. White & Co.,, whereby financial arrange ments were made for the building of the new street railway system, is out of the city. MT. R. M. Henderson. his business partner, and who is also a stockholder in the Traction Company, said the news of the sale of the Montgomery Street Company had greatly surprised him.
 'I know nothing about the affairs of the l Company" said Mir. Henderson, | but think if MT. Tillis had been act Ing for the Traction Company, l would have known of it.
 May be For Atkinson.
 Business circles were considerably agl- tated yesterday afternool when the news | of the sale became public property. and opinion was expressed in several quar- ters that~Afr. Tillis N as acting for H. M. 1 Atkinson of Atlanta Ga. This opinion l was expressed by persons who based | their ideas on the fact that Mir. Tillis Is not a practical street railway manager | or operator It was said that Mir Atkin- | son, in casting about for a seasoned finan- | cier in Alabama to act for him. had ne- ', gotiated with Mir. Tillis. and that they 1 had reached an understanding. The Advertiser made an effort to secure | a statement from MT. Atkinson, but he | Is absent from Atlanta, and he could not | be located
 Richard Tillis. who has secured control | of the Street Railway system. formerly | lived in Geneva. He. came to Montgom- cry several years ago. and, although | making this city his residence. he is largely. interested in farming lands, tim Der, turpentine orchards and various en- terprises in Southeast Alabama. These include banks, cotton mills and other | industries. He is gener- ally accounted a very shrewd business man. and a very strong one in resources.