The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1906-02-10
RumOr Says the New York
Pinancier Has Acquired
Control Of One Third d
the Stock
WILL PUT MONEY In CONCERN
MENTION IS ALSO MADE OF
KUHN, LOEB & co. IN THE
TRANSACTIoN-PREsIDENT Nc
CARTER DENIES THE DEAL
HAS BEEN MADE.
Especial to ''The Jersey civ News.''1

Especial to '@rhe Jersey City News.")
NEWARK, Feb. 10, 1906.-That III.
great banking firm of ]. P. Morgan s
Co. has acquired third interest in In.
Public Service Corporation and viii
finance the company, is a Statement
emanatdng from responsible Wall street
sources. Another rumor includes Kuhn
Loeb & Co. and speyer & Co. in the
transaction, but this is in the form Of
conjecture.
For more than a year there have beer
rumors of contemplated great changes
Of a character TO give control of Pu5lie
Service Corporation interests TO New
York capitalists. Belmont has been nsm-
ed and the enterprise of the Pubic Ser
vice Corporation in projecting a rapid
transit electric line between Newark and
the Hudson. with tunnels under the
North River, was said to be preliminary
" q SoiAipilieiei" u tue ortiAiVHt '1dction
system in New York with The New Jer.
sey lines.
wba4o,.o,. o,...,,,,, :.
pee'iFe 'nen were apparently uismisseo
when the Public Service Corporation
recently abandoned its project of rapid
trans;r lima vitb q Sayvarl. terminal 81,
a ~ : n'lu "i'o"e 81 'ne s1iii
wanna hallroad Company to take It up
with changed plans so that the main line
right of wav of the Pennsvlvania can
1, .;,5
ilesioeht ihoii'as ~. -aeN-aHtef' oi me
Public Service Corporation, was asked
for information on the subject Of the
ajiage,l naw deai nv which : p Nto~ysr
.,,
'AN p0ssips o'-s. '''A'ea 'H's'ss's YES
TO purchase er mad purchased thlrd of
the Public Service Corporation stock and
would f;nanca tba co,mora t;on pras;asn,
80 49,. - - Ne.'s
.,.l,
- 10. -.
15,,h,ia So - 80 80 '--l' - e'.e
-, ,s,s..5-, Ip',1, -, - ~ ',SssN "'H
s - .i,-
60 ~, oppoi tpAl..s {, !, = e"is
ns,'.. - 7 ~ '.''ss - ,iie
- el--'N-'' 90 - - '',e
.-,ael - 'l.e -7As'A.s = - ~ 'H1 s~ips
AA'sies's seenieu - tohssila'l W" ens ap-
sofp'ioh Oh Fuollc service N lhe hege
traction system thus created. 1t Is eyi-
dent that +he owners of Puhlic Se,vica
l ;.l .:r
VII ~ IL" nihsSe uss--us'
looked forward 10 such a deal. and have
not been unprepared for it. Included in
tha Tntarhorouqh system tba Neyr J.a,..av
1:.. ~,
lilles "ooru nave an the eapitai reS1u'reu
Tor contemplated extension and improve
mentss in, it's large territory.
o4 e;,,,,s,4. ,t,.aat ~ ~
. - 'ne -
gan interests nave IN view Ill the-r report
ed purchase of part control of the New
Jersey The deal yvould of couysa ;nvo,,-s
-, ~ 80 .l,,,s+.;. ,.-,.,.
az tAe sas a~a elee...e lisn.ins ptalsls
now controlled py Fubile Service and not
alone the traction lines These lines now
extan5 from tbo Hpason. - tba De,s-
s-.s..i '''-D ~ ','s
ware nc oahloeh' with gas ana e-ecerie
light subsidiary companies in more than
a score of. cities and towns. Practicauv
all IF tha Esas,ss,.,, Nav T,r-a,- +,.s,ss,,
- s'Ae -1''e''n I 'e1 ~ 'i0e'tsn'
gas alft eleceric hght interests befong TO
the Public Service Corporation system
The use of Morgan canifal in. the sa.
ro,a,,,,,,,,. - ~.
W. i-'e.te - ,"e '.',e''o" = So =
Jersey, II II shoui9 ioe used Ter no other
purpose than lnyesS ment IN Ihis rlcniy
promising property, would be an m
nlense stimulus backed as II would be
oy characte-lslc Morgan enterprise and
energy: Sad a Newark banker to-day
when la informed about the rumored deaf:
it woutu certainly make olg boom
for 70 All the public utlhties conducted by
Pubic Service, an1 It IS Just what the
company needs. ihere IS nrge over
seapitahzatiel q Fubllc Service. but that
Is common allment with American cor
pofationsS o. the Kind You can't readity
false ml'HoIs OF cash when you are al
ready heavily nOfIg3Eeu, except perhaps