The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1902-05-02
STOCKHOLDERS APPROVE
RECOMNENDATION OF THE d.
RECTORS
to Exchange Winchester Avenue Stock
Share for Share With the Company's
stock-PracticalIy Unanimously En-
dOrsed.

The stockholders of the Fair Haven
and Westville road held largely at
tended meeting yesterday morning at
the new offices of the company in the
Malley building and took important ac-
ton concerning a proposed increase of
the capital and a consolidation with
the Winchester avenue road. The Fair
Haven road has controlled the Win
chester avenue road for over year,
operating the same under a traffic
agreement.
The recommendation was made that
the Fair Haven road increase it's stock
by issuing $4,000 new shares in ex-
change for the $4,000 shares of the
Winchester avenue road. share for
share.
In addition it was recommended to
issue $1,200,000 worth of new stock. The
total stock of the road would then be
SIS, 100000, the amount which the direc-
tors believe is needed to properly op-
crate the system as it is constituted at
the present time.
Both propositions Were adopted by
the stockholders. Out of about $4,000
shares voting there were only 43S in the
negative, Attorney s. Harrison Wagner
being the only one to oppose. After
the votes had been passed Mr.. Wagner
moved that a committee be appointed
to determine the proper basis of the
proposed increase. AS the stockholders
had already voted on the matter Mr..
Wagner's motion was declared out of
order
After the stockholders meeting had
adjourned the directors met and pursu-
ant to the authority given them by the
stockholders. voted to make such in
crease in stock as is necessary to bring
about consolidation, but took no action
as to the further increase authorized by
the stockholders but will probably do
so at later meeting. The following
circular was issued yesterday after
noon:
Fair Haven and Westville Railroad Co
New Haven. Conn. May /, 1902.
To the Stockholders of the Winchester
Avenue Railroad company:
Since the acquisition by this company
Of a controlling interest in the Winches-
ter Avenue Railroad company 1t is ap-
parent that consolidation of the two
would conduce to the best in
terests of both companies, their stock
holders and the public.
The terms upon which such consol-
dation might be effected have long
oeen under careful consideration by the |
directors of this company
1t is believed that an exchange of |
1ne share of the Winchester Avenue |
company stock for one share |
If Fair Haven and Westville Railroad |
stock would be fair and equit-
tble to the stockholders in both COM
,anies.
This company, therefore, under au-
hority of vote passed al a special
Meeting of it's stockholders held this
lay. hereby offers to each stockholder |
# the Winchester Avenue Railroad
one share of the fully paid
took of this company for every share
# that company which may be offered
n accordance with the terms hereof.
Certificates OF stock, with powers of
ttorney in favor Of this company, duly
xecuted and authenticated, may be de-
,osited with the Second National bank
f New Haven. Conn, on or before
une IS, 1902. Temporary receipts will
e issued by said bank therefor, ex-
hangabe as soon as may be for GER
ificates of stock of this company bear
ng date as of the date of deposit.
uch stock will participate In all divi-
ends payable after that date and all
lights to subscribe to new issues of
air Haven and Westvile Railroad
ompany stock made after the date of
uch deposit.
Respectfully,
he Fair Haven and Westville Rail-
road Company,
INe,.. ,.,l4a I,,1,. Iaa,4