Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1902-01-23

Cleveland, o., Jan. 23.-The entire
property of the Everett-Moore syndi-
cate may be sold. This was admitted
by Chairman III. r. NewcOmb, of the
Bankers committee when he said that
negotiations are on foot for the disposal
of both the telephone and the railway
properties and admitted that the cause
for holding back negotiations for the
sale of single systems is that the COM
mittee anticipates the sale of one or
the other of the properties or both.
1T is true said Mr.. Newcomb, that
the Elkins-W Widener syndicate, which
controls the systems of Cincinnati ana
Philadelphia have been looking over
all the traction lines of the syndicate,
1t is also true" added Mr.. Newcomb,
"that when the Bankers committee
becomes operative, it will be willing to
negotiate the sale Of all the proper
ties or the syndicate.
Representatives of the Elkins-Wid-
ener syndicate have examined all tine
traction interests of the Everett-Moore
syndicate, through their representa-
tives, with the object in view of pur-
chasing all the immense railway in
terests of the Cleveland syndicate, IN
cluding the properties centering in this
city The result of the inspection of
tile properties has been that the I'M
mense Elkins- Widener combine consid-
er the system clear, as being splen-
did investment, and that lump bid
OH all the properties may soon follow.
1t is now practically settled that
either the Federal Telephone Co. or the
entire traction interests will be sold.
According to statement from Chair
man Newcomb c. w. Morse of New
York stands in the lead of several peo-
pie who have been looking into the
telephone interests with the object Of
buying the entire properties. At the
same time it is understood that at the
last visit of Judge Thomas, represent
ing Mr.. Morse, to this city the matter
had not progressed far enough for a
discussion of prices. 1t is also under.
stood that some eastern bond houses
are after the controlling interest of
the telephone properties.
1t was said last night, however, that
actual negotiations for the purchase of
the Federal Telephone Co. were on be-
tween Mr.. Morse and those now inter-
ested, but nothing definite has yet been
decided upon.
IF. however, the Elkins- Widener syn.
dicate should make favorable advances
for the traction interests and deal
should be closed tile necessity for sell
ing the telephone interests would be
removed.
The Elkins- Widener syndicate is one
of the most powerful traction interests
In the world. II has an almost unlim-
tied amount of capital behind it and
Is reputed to generally get what it
goes after. 1t Is understood that If the
syndicate should buy all the traction
interests that the deal would be made
with the purchasers having an an OBJ
ject the completion of the original plans
of the Everett-Moore syndicate, making
the entire properties the greatest sys-
TEN of electric roads in the United
States.
In speaking of the matter Chairman
Newcomb said: "No actual PROPOSE
tons to buy have yet been received.
At the same time the preliminary work
on the part of prospective purchasers
has been carried on with view to
bidding for the properties. II the tele.
phone interests are sold 1t will not be
sctually necessary to sell the traction