The Montgomery advertiser., 1905-12-16
CAR LINES TRANSFERRED Traction Company In
 Possession. PRICE WAS $ool,S30 Was Montgomery's Biggest = Financial Deal. Untii Council Acts, Corporations win Remain Separate, But People at
 Head of Concern Promise
 spIeadid system.

The entire stock of the Montgomer, Street Railway, the Montgomery Sub urban Railway Company and the Mont gomery Amusement Company, wal yesterday purchased outright by tho Montgomery Traction Company. The purchase price was s90Is30, exclusive of the bonds of the companies.
 Early yesterday afternoon, practical iy this entire amount was deposited by Richard Tillis. former owner of the Montgomery Street Railway and its companies in the Elrst National Bank This concluded the biggest financial deal in the history of Montgomery.
 At midnight last night. the Mont gomery Street Railway was being op- erated by the same men, who operate the Montgomery Traction Company and Electric Park was the property of the company headed by R. D. Apper- son. who recently became the presf- dent of the line with the yellow cars.
 Several weeks ago. the owners of the Montgomery Traction Company se- cured an option oh the stock Of the Montgomery Street Railway. This op- ton was good until February l. The purchase price was stipulated in this option and yesterday afternoon at l o'clock in the olnce of the Montgomery Street Railway, check on one of the strongest banking institutions of New York for this amount was handed Mir. Tillis by the owners of tho Traction Company and 1t was imediately depos- tied in the First National Bank.
 When the money was paid over and the papers were signed there were present in the Montgomery Street Rail. way office. Richard Tillis, R. E., steiner, B. P. Crum. R. D. Apperson. Charles R. Miller, F. D. Lewis, Ray Rushton and W. H. Ragland.
 The assemblage immediately ad- iourned and at midnight the Traction everything possessed by the three cor porations that day purchased
 Companies still Separate.
 Until, however. the City Council grants the Traction Company a fran chise to connect all lines, where con- nections are advisable or necessary, the Companies must of necessity be oper- nv people have no foreboding on that score A prominent official of that company said last night: 'Montgom- cry is now going to have the best street railway system south of the Ohio River and l believe that the ai- dermen will be willing to help us in any way that is reasonable.
 New officers were chosen, however. for the Montgomery Street Railway, the Montgomery Suburban Street Rail- way and the Montgomery Traction Company. These officers are the same for each company and are as follows: ]. D. HorseIey, President; R. D. Apper- son. Secretary and Treasurer; w. H. Ragland, General Manager, and C. c. tSoeshead. Secretary and Treasurer should the City Council grant the nec- essary franchises for the connections a new corporation would be immediate ly formed under the name of the Mont gomery Traction Company with the present officers of the company in the new corporation. These officers are; R. D, Apperson. President; Ray Rush. ton, Vice President; W. H. Ragland, General Manager.
 Nothing could have been more cha otic than the street railway system in Montgomery four years ago. Nothing could be more roseate than the street railway outlook today. Four years ago there was but one company. the Mont gomery Street Railway, operated by To" cal capitalists, who appeared perfectly regardless of modernizing the system. and Montgomery was famous through out the South for the dearth of good street railway system. At that time, a franchise was granted to Barry l.. Holt to construct a street railway. For many months, there were no develop, nents, but finally it was announced that J. c. White & Co. of New York had purchased this franchise and would operate street railway system in Montgomery. This company was called the Montgomery Traction Company.
 Jusha the Traction Company started busineAs. the owners of the Montgom- cry StrAet Railway sold out to Richard TilIis, a citizen of South Alabama. who had made many thousand dollars on timber in that rapidly growing coun- try. Richard Tillis had started with out a penny When he purchased the street railway he was worth more than a million dollars and experts figure that he cleared between $25O,000 and sss0.000 on the deal that was consum- mated yesterday. He immediately be- gan to improve his system and expend- ed vast sums of money in this endeavor He built Highland Oval, Washington Park and was the prime mover in the building of Electric Park. In addition, he constructed many miles of track and purchased much new rolling stock.
 In the meantime, the atfairs of the Traction Company were going badly. From the outset the company was be- seiged with litigation. Finally it was thrown into the hands of receiver.
 Then Apperson appeared. This man is the executive of street railways in Roanoke and Lynchburg, Va, and of gas and electric plants all over the country He Is little man in stature. but has large influence with persons who have large amounts of money, who reside in Philadelphia. He interested them in the Montgomery situation and they bought the Traction Company.