Evening journal., 1902-12-24

HEAR OF MERCER
Wilmington Company Con
trolled by Interstate Rail
ways Company
TERMS OF THE BIG COMBINE
New Concern Besides Getting Roads
Has the Charters and Capital Stock
Of a Great Many Proposed New

Has the Charters and Capital Stock
Of Great Many Proposed New
Companies
The stockholders OF the Wilmington
City Railway Company, which is con-
trolled by the United Power and Trans
portation Company have received cir
culars announcing the scheme to merge
with the Interstate Railway Company.
The circular was signed by the follow
ing directors: John A. Rigg, Robert ~.
Carson. F. w. Roebling, Thomas c..
Barr, II. W. Biddle. Preston Lea. Il. ].
Moore. Joseph L. Caven. William r.
Mcllvain, Henry G. Moore. Richmond
l.. Jones, r. Nelson Buckley.
Terms Of Merger
The circular says:
The undersigned beg to advise you
that they have sold to the Interstate
Railways Company. a corporation az
New Jersey. lately organized. thcir
holding Of United Power and Transpor-
tation stock, aggregating more than a
majority thereof, at $40 per share. pay
able in forty wars collateral trust gold
coupon bonds, to be issued by Intertate
Railways Company, as of February /.
1903. and to bear interest at the rate OF
3 per cent. for the first ysar, 31a per
cent. for the second year and per cent.
fer the third year and thereafter.
The said bonds. in addition TO the
obligation OF the Interstate Railways
Company, will be secured by a deposit
with the Real Estate Title Insurance
and Trust Company of Philadelphia, as
trustee, of the United Power and Trans
pOrtation Company stock purchased
The issue will be limited to the amount
necessary TO take up the present out
standing stock OF the United PowEr anC
Transportation Company
In making the above sale the under
signed have stipulated that eyerg
lstoclSholder of the United Power ang
Transportation Company shall have thl
right to sell his stock on the sans
terms until january 6. 1903, inclusive
and thereupon, on deposiung his shares
with the Real Estate Title Insurance.
and Trust Company of Philadelphia
trustee, in exchange forsnegotiahle re
ceipt, shall have the right TO. subscribe
for stock OF Interstate Railway Com
pany in the proportion of one share
for every fourteen shares of Unite,
Power and Transportation Compan,
stock sold by such subscriber.
Officers and Companies
The officers Of the new corporation
as announced are: President. Frank o
Briggs, Trenton. Stats Treasurer o
New Jersey; secretary-treasurer, w
wv. Light. Reading; directors, 0. S
Geiger, Reading; Frank r. Hansell
William f. Eidell and George II. b
Martin.
The announcement continues:
The Interstate Railway Company
besides purchasing control OF thi
United Power and Transportation Com
pany, has secured the charters an,
present capital stock of the following
new companies, with the consequen
right to build and construct;
Reading Power Company, Reading
West End 11lectric Street Railwa.
Company, Reading.
The Arch and Green Street Railwa.
Company. Norristown.
East Side Street Railway Company
Reading.
Chester and Rose Valley Street Rail
way Company. Delaware county
West Side Street Railway Company
Norristown.
Chester and Middletown Street Rail
way Company, Delaware county.
Chester and Rockdale Street Rail
way Company. Delaware county.
The Darby and FernwDod Stree
Railway Company, Delaware county.
Black Bear Street Railway Com
pany, (PottstOwn to Reading).
I Womelsdorf and Myerstown Stree
Railway Company. Lebanon county.
Twelfth and Thirteenth Street Rail
way Company, Reading.
South End Street Railway Company
Reading.
Front and Fifth Street Railway Com
lrany, Reading.
Hamburg Street Railway Company
Hamburg to Reading.
I BirdsbOrO Street Railway Company
Birdsboro and Reading.
The Lima Gradysville and Yves
Chester Electric Street Railway Com
lpany, Delaware county.
Colwyn and Ridley Park Street Rail
lway Company.
Clifton and Sharon Street Railwa
company, Sharon. Hill
Trenton Pennington and Hopewe
lSuest Railway Company New Jerse,
The United Power and Transports
tion Company held interests in the fol
lowing companies:
Citizens Electric Light and POws
Company. Of Delaware county; Dela
ware County and Philadelphia Electri
Railway, Edison Electric Illuminatin
Co, Lebanon; Lebanon Valley Stree
Lebanon; Lebanon Valley Street Raj
aRilway Co., Holmesbprg, Tacon
and Frankford Railway, Roxborougl
Chestnut Hill and Norristcwn Railwa