New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-09-10
ARE JERSEY LINES SOLD =?
A RUMOR TO THAT EFFECT CURRENT IN
TRENTON-REPORT DENIED AND
PARTLY ADMITTED.
TBr TELEGRAPH TO THE TRIBUNE.I

Trenton, n. j., Sept. "a runor was cir
culated among the politicians who gathered at
the State House to-day that a definite agree
ment had been arrived at whereby Edwin Gould
and Samuel Thomas were to purchase the North
Jersey Street Railway Company. the Jersey
City Hoboken and Paterson Traction Company
and the Central New-Jersey Traction Company.
The report emanated from some well informed
business men of the northern section of the
State and was generally credited here.
According to the report, $40 share is to be
paid for the stock of the North Jersey Street
Hallway Company and the Central New-Jersey
Traction Company and $50 share for that of
the Jersey City, Hohoken and Paterson COM
pany.
In connection with the rumor was a story that
some opposition, said 10 have been manifested
by President Cassatt, of the Pennsylvania Rail
road Company, to the sale of the roads, had
been withdrawn as the result OF an understand
ing with the Gould interests. The conference at
which Mr.. Gould is said to have assented to the
terms of the agreement is reported to have
taken place within the last two days, and it
is said the papers will be signed upon his re-
turn from Bar Harbor.
The merger of the traction interests in the
northern section Of the State has been contem-
plated for some time. and considerable doubt
OF the proposed transaction.
Hollywood, N J., Sept. 9-Edward F. c.
Young. the banker, of Jersey City. when the
Trenton report shown him that Edwin
Gould and Samuel Thomas had practically pur-
chased the streetcar lines OF Northern New
Jersey including the North Jersey Street Rail
road, Of which he is one Of the heaviest stock
holders. said: There is truth in the report
SO far as the North Jersey is concerned"
Newark. n. J.. Sept. Or. Leslie D. Ward,
first vice-president Of the Prudential Insurance
Company Of America OF the heavy owners
of North Jersey, said this afternoon that no
deal for the purchase OF the North Jersey in
terests had been closed. He said, however.
that It was probable that when a man now
cruising on a yacht returned to business
deal viii be consummated by which the control
OF all the street railroads Of the upper part
Of the State would pass into new hands. VINO
the man cruising q yacht was Dr. ward
would not indicate.
1t Is said here that the deal for the control Of
the street railroads would have been closed long
ago except for Z. F. c. Young. of Jersey City.
Those who have been trying TO buy said not
to wish to purchase all the stock, but only a
controlling interest Mr.. Young is said to have
obtained the voting power Of large block OF
stock the holders of which small owners
and that he has been protecting their interests
and insisting that they be amply protected II
Is rumored that MI founS sought 10 tolNe oLIs
would-be purchasers to form a company ana
lease the lines, guaranteeing a good sized diVl-
dend Oh the stock of the old company
F'inanciers here think this plan has about
reached it's limit. The North Jersey now guar
antees interest and dividends on the stock and
bonds OF so many companies leased by 1t that
unless the possible purchasers were able TO
gather In lot Of the stock Of the small COM
panies united under the North Jersey lease OF
the old Consolidated company, which was the
original guaranteer of the interest ana olVl,
dands it would require immense amount OF
money to satisfy the claims which would come
I'D annually.