The Montgomery advertiser., 1902-03-28
CAPITAL CITY FRACTION CO., Name of New Street Rail-
 way System. HOLT WILL BE PRESIDENT W. F. Vandiver Returns from
 New York. He Says Work Will Begin Within Fifteen Days-There is Little Probability of a Con-
 solidation.
 
HOLT WILL BE PRESIDENT

W. F. vandiver, who is associated with Col Barry L. Holt in the company which has been organized to construct modern system of street railway in Montgomery. and to build a suburban resort at Pickett Springs reached Montgomery at Il o'clock yesterday morning. coming here directly from New York, where he and Colonel Holt last week closed a deal for the build- ing of the road.
 In an interview yesterday evening with . representative of The Advertiser, MT. vandiver said that Colonel Holt. in his interview published in The Advertiser yesterday morning. had practically cov- cred the ground and had given the people of Montgomery an adequate idea of what the company expected to do, although MT. vandiver said Colonel Holt was conserva- tive in saying that work would not begin within thirty days.
 T think you can safely say that work will actually begin on the new street railroad system within fifteen days, and that the Pickett Springs line will be built first" said Mir. vandiver.
 It was suggested that the franchise granted to Colonel Holt by the City Coun- ell of Montgomery for use of the certain streets in the city provided that work must begin by June IT. MT. Wandver ex- plained that he meant work would begin on the Pickett Springs lne but this did not necessarily mean that work would not also begin on the city system within the next few weeks.
 S. G. Averell. a member of the firm of J. G. White & Co.,. which will build the street railroad system, is expected to reach Montgomery within five days. Mir. Vandiver said MT. Averell left New York city Tuesday night for Indianapolis, St. Louis and Little Rock Ark, where. his firm has large interests. He will come to Montgomery as soon as his business in terests in the West are transacted. w. H. Ragland of Little Rock, who is also largely interested in the new company, will accompany Mir. Ayerell to Montgom- cry. Mir. Ragland hasNb to Montgom- cry in the recent past, and spent several weeks here quietly and thoroughly in- vestigating the street railway situation. In fact, MT. Vandiver said the New York financiers were so fully informed on the Montgomery situation that neither Colo mel Holt nor himself could tell them any thing new.
 Messrs. Averell and Ragland will be joined here by experienced engineers and foremen of the various branches of the work, and MT. Vandiver said it was ex- pected that excavating and preliminary work would begin just as soon after their arrival as possible.
 The new company will probably be in- corporated as The Capital City Traction Company" MT. Vandiver said the money had been secured. the bonds had been me- gotiated, the cars and rails had been or dered, but that the incorporation might not be effected until after work had &C., tually begun. As other persons were in- terested in the company. MT. Vandiver said he preferred not to make statements about the capitalization until the com pany was incorporated.
 It is definitely cettled that Colonel Holt will be President ,of the company, and Mir. Vandiver admitted that other ciu- gems of Montgomery than Colonel Holt and himself were interested in the prof ect The new company has made a fifteen year contract with the Montgomery Light and Power Company. of which MT. Van diver is the President for power, and MT. Vandiver said that in order to fur nish the power necessary. orders had a- ready been placed for new and improved machinery which would. be rushed for ward as speedily as possible. MT. Vandiver declared that there was little probability of a consolidation be- tween the promoters of the new street | railway system and the Montgomery Street Railroad Company. He said if the | new company ever acquired the old, that | tracks would be laid upon many of the | streets named in the franchise, it was believed the future growth of Montgom- | cry would make 1t necessary to traverse | these streets. "The new street railroad will be built" | said Mir. Vandiver. "You can say that | positively. I never expect to be placed | in the position of raiding the property of | anybody and I am not concerning my | sol n q people of Montgomery know Colonel | Holt. and he has given his word that the | deal has been closed. l don't think have | ever been accused of unfair dealing with | the people of Montgomery.