The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1906-04-24
Former Vice President and
General Manager Of the
Public Service Trolley
Lines Will Come Back
WILL RUN CAR SYSTEM
VICE PRESIDENT STERLING AND
He WILL DIVIDE RESPONSE
BILITY AND IMPROVE THE
CORPORATIONS SERVICE

CORPOkAIlON > SEkA lCE
Negotiations which have been for some
weeks in progress are said to be com
pleted, and David Young. the former
General Manager of the North Jersey
trolley system, will take charge Of the
Public Service lines.
Since the organization Of the Public
Service, while President McCarte- has
exercised general control, the three
vice-presidents have been in charge re-
spectiyely of the gas, electric and trolley
divisions. vice-President Charles A..
Sterling has been in charge of the latter
and his ability as an engineer made him
peculiarly available to manage the inn
provements that have. been made and are
still under way. His experience as an
operator was limited, however. and the
management has decided that the trolley
system requires the service of the hest
talent that can be obtained in the latter
direction.
Mr.. Young's long connection with the
North Jersey and connecting lines and
the additional knowledge he has acquired
through his connection with the Brown
nro+borc, e+roo+ ,o ;Lvx-ox, t,ranartiaS in va.
rious large cities, since he left the local
field, caused him to be regarded as the
most available man, for the place. During
the Morgan & Co. negotiations and later,
when Robert Winthrop & Co. entered the
deal, several of the heavy holders of Pub
lie Service stock were quietly endeavor-
ing to secure Mr.. Young's consent to con-
sider an offer, and they finally sdcceetf-
ed. What the terms offered are could not
be learned definitely today, but they were
made agreeable to Mr.. Young, and for-
NAL announcement of the new manage
ment is expected at the next meeting of
the executive committee of the Public
Service board of directors.
The executive Committee consists of
the president, three vice e-presidents and
the following directors: Thomac G. Baaw,
Walton Clark, Mark T. Cox, Anthony r.
Kuser, Lewis Lille, Uzal Il. McCarter
and Randall Morgan. They are reported
unanimous in the movement for securing
the return of Mr.. Young ard Mr.. Ster-
ling, it is understood, is more anxious for
the change than any of his colleagues.
He will retain his present position, but
the actual operation of the department
will devolve upon Mr. Young. The lat
ter, when originally in charge, was han
dicapped by lack of equipment and funds
for necessary improvements and exten-
sions. Now all this is changed, and
under the new regime much improved
service is promised.
Mr.. Young is now in Baltimore, clos.
ing up, it is understood, some of Brown
Brothers affairs, which he has been
handling for the past two years. When
last spoken to concerning his possible re-
turn to the management of the local lines
and all those now in the Public Service
system, Mr.. Young said lie had been
spoken TO, but only in a semi-official way.
Since then plans for securing the desired
new capital have been perfected, and the
new executive committee took up the
question officially, with the result stated.
Of the new issue of Sc, ,250, GOO convert
ible FIVE per cent. notes, authorised at
the annual meeting, it is said more than
$2,000,O00 have been subscribed for by
present shareholders. who would have
taken the entire issue only for the agree
ment made with Winthrop & Co. The
latter firm has been allotted Sd, $50, 900 OF
the notes. which may be converted into
stock at par on May |, 1909. and will.
with additional stock which the firm may
acquire before that date, give it one
fourth holding of the entire issue Of
| s1s.750oo0 stock outstanding three years
hence. The money derived from the new
issue is calculated TO be all that the cor
poration can use on improvements during
| the next two years.