The Nashville globe. [volume] (Nashville, Tenn.) 1906-193?, 1907-05-03
Purchase Being Made By
St. Louis Firm.
IT Is SAID THAT THE CARS WILL
BE RUN BETWEEN NORFOLK
AND JAMESTOWN, DURING THE
EXPOSITION, FOR CARRYING
PASSENGERS.

Eight OF the large twenty passen-
ger coach electric automobiles equipped
with AZ cell NV. exide storage bat
teries and two Westinghouse motors
that were purchased in the fall of 1905
by the Union Transportation Com
pany, have been sold to st. Louis
firm.' This is the startling remark
that was made to the large gathering
OF stockholders Of the Union Trans
portation Company that had assem-
bled in the chapel of the Baptist Pub
fishing House, corner Market and Lo-
Gust streets, Monday night There
was no business meeting held be-
cause the constitution and bylaws Of
this Company require that one-half of
the subscribed stock must be repre-
sented to form quorum
1t was 8 o'clock when President
Taylor announced that there was still
no quorum present and that for this
reason it would be impossible to pro-
ceed with the meeting He said that
he thought it would be best to tell the
stockholders present just what had
been done since the last meeting, at
which the executive committee was
instructed, together with the business
manager, to dispose of all or a part of
the cars on hand in order to meet
some of the Indebtedness. President
Taylor said he would ask the business
mo tror. n or on i,rcf xuh o,.f 80
the transaction could be stated off
hand.
The business manager made state
ment in substance as follows "Act-
ing upon your advice we have sue
ceeded in closing a deal with a st.
Louis firm for eight of the large twen-
ty-passenger coach electric auto cars,
part of the fourteen of the original
purchase. The dePl was closed about
twenty-five days ago for sum which
enabled us to relieve the pressing en-
barrassment. These cars we're re-
paired, the batteries overhauled and
they were put in an operating condi-
tion. OF course the money was not
on hand to do this, but arrangements
were made by which the money was
secured and on Friday and Saturday,
the 10Th and goth, the cars were load
ed on the L. & N. Railroad and
shipped to Norfolk, Va, as per the in
structions of the purchaser. This
leaves only a small amount of the
original purchase price to be paid on
the cars"
In closing, the business manager
stated that there was nothing else
connected with the transaction of any
Importance President Taylor asked
the Secretary to read a letter from
one of the banks in st. Louis that
held the notes of the original pur-
chase. The secretary stated that
there was only $734.26 remaining un-
paid on the first $4,000 debt incurred
by the Union Transportation Com
pany in the purchase of these cars,
batteries, pumps and other parapher-
MALTA with freight on the same.
President Taylor made a lengthy
address to the stockholders. He
stated that he had in the beginning
OF the organization vowed to throw
himself heart and soul into the cause.
He felt that what he had belonged to
his people, if they would appreciate
it. He said that he had never before
in his life endorsed notes for any one,
but that he had personally endorsed
these notes at the request Of the board
Of directors. The notes amounted to
something over $4,000 in the begin
ming They we're to mature quarter
ly $1,000 each with interest at the
rate of 6 per cent. He said when the
first note fell due for $1,000 he called
a meeting Of the stockholders. "They
met and ordered" said DR.. Taylor,
you all to meet the note" He also
said that he and another friend had met
these notes reularly for the past twelve
months, $1,000 per quarter with inter
est until he saw there was nothing