The daily Republican., 1902-12-10
NEW CONCERN TO |
RUN RAILWAYS
Deal For Control of a Chain of.
Trolleys Said to be
Pending.
has CHARTER IN JERSEY.
All Lines in This State Now
Controlled by Rigg Part
Of the Link to CO Under
the New Control.

Control and operation of a chaiu
Of electric railways Pennsylvania
New Jersey. Delaware and Maryland,
and the operation Of munich ipal plants
is said to be the object of the Inter-
state Railways Company, recently
incorporated with a capital of $40.
100000.
| Negotiations for the acquisition Of
the United Power and Transporta-
tlon Company. which already con-
trolls large railway and electric pow
er interests, are understood to be
pending, and it is said that the cor.
summation of the deal win be an.
nounced in few days. The terms
for the purchase of the United Power
and TRANSPORTATION Company, it Is
SAID, have been arranged
John A. Rigg, President of the
United Power and Transportation
Company, and Robert N. Carson,
vice-president, we're asked last
night whether or not the report was
true, but they declined to talk
INCoRPoEAToRs ''sTRAw MEN?' !
The Interstate Company was in
corporated in Trenton, but the in-
corporators Frank B, Housed, Will
liam F. Eldell and George B. Mar
ten, of Camden are said to be
straw men, and it is expected
that. if deal is consummated, Mr.,
Rigg and Mr.. Carson will be the
principal managers Of the new con-
cern. w. w. Light, of Reading,
has been chosen Treasurer of the
company, but he declined to discuss
IFS affairs last night. 1t was re-
ported tnat New York capitalists
were interested in the deal.
The company, under its charter,
IS authorized to acquire stocks and
bonds, street railways, to develop
and supply motive power and light,
to mine coal and do anything per-
tanning to electric roads.
1t is said that s2, 5000 on the
capital has been called.
MORE THAN TEN MILLIONS WANTED.
BY financial men it was said that
largely increased, The plans for ey-
tension contemplated a control Of
the main iuterurbau lines in Penn
sylvania. New Jersey, Delaware,
Maryland and Southern New York.
The United Power and TranspUrta-
ton Company, which it is reported
will lie absorbed by theme company
was organized III 1899. 1t controls
these electric railways: The Della.
ware Company and Philadelphia.
Ihe Holne burg, Tacony aud Frank
ford. the Lebanon Valley, the
SchuyikIl Valley. the Roxsboro,
Chestnut Hill and Norfistown, the
Trenton, the United OF Reading the
and Wyoming Valley,
he Wilmington aod Chester. and
he Wilmington. 1t has interests In
he Citizens Electric Light and
'owcr Company OF Delaware county
he Edison Company Of Lebanon and
t recently organized company to
urnish light and power to Reading
nd Berks county towns.
REPEATED RUMoES OF DEALS,
There h ave been rumors OF deals
involving the United Power and
transportation Company on tha
treet ior weeks, but they have been
enied repeatedly. The capital oi
he corporation is SIC, 500. 600, and
ne par value 81 share. The
took sold at $50 Yesterday.
1t was inLimatoi that the Penu-
glyania Railroad Company was III.
irectly interested Ia the proposed 49,,
onsoida ton TO prevent the severe '-'
Jmpetitlon which electric railways
ave threatened within twoor three
John B. Parsons. President OF the
Rapid Transit Com
any, declared tLat his company
ad no interest in either the United
over and Trans sportatiou Com
my or the Interstate Company.
e said he had ~ knowledge OF i'm
'nding deals.