Evening journal., 1910-04-04
RAILWAYS And
LIGHT MERGER
Looks Like Local Syndicate
Will Get City Railway and
Electric Plants
TO SPEND MILLION
FOR IMPROVEMENTS

The proposed lease Of the Wilmington
city Railway Company, including its
Wilmington properties as well as the troll
ley line 70 and I'm and around Chester. TO
"a syndicate to be composed mostly OF
Wilmingtonans which was announced In
THE EVENING JOURNAL on Saturday.
will be more far-reaching than was az
first indicated. The lease will Involve a
mergsr OF the Wilmington Light and
Power Company wit hthe WILMINGTON
city Electric Company as well as tho
lease by the syndicate OF the Wilmington
city Railway Company and the Chester
and suburban lines included in what is
known as the Wilmington district Of
the Interstate Railways Company
II was stated to-day by one OF tho
men who will be prominent In the syn
dicate being formed that the financial
end Of the deal is not Of so much con-
Germ as the legal phase OF tho proposed
lease and merger. Able lawyers arc Eiv-
ing their attention 20 the matter looking
up the many interesting points that have
arisen IN the plan and smoothing out the
legal wrinkles that have appeared. j. @.
White and Company. OF New York, ara
active IN the negotiations. but II was
stated to-day that Wimingtonlaus will
dominate the syndicate 20 be formed 20
take over the railways. the Wilmington
City Electric Company and the Whining
ton Light and Power Company. Tho ne
gotiatlons have been pending for some
time and came about through the OPP
portunlty offered the Wilmington Light
and Power Company 20 lease the city
Railway and the City Electric Company.
The syndicate 10 be formed will be evolv-
ed around the present Wilmington Lieht
and Power Company. The Wilmington
Gas Company and the Peoples Railway
Company are not to be included in tho
proposed deal.
Henry p. Scott Of Scott and Company
. brokers. to-day said the negotiations are
stil pending and he hoped that ultimate
iy the proposed lease and merger woul'
20 through "If Il IS consummated
said MT Scott, wilmington will be Eivel
, one Of the best railway systems as wei
as electric lighting and power system
;, in the country with Wilmingtonians
r control Of it.''
II became known to-day that tho syi
!, dicate to be formed. the names qf ms
Interested in which have not steu =,
nounced. Will spend nearly n million do
J. lars ~ rehabiiltating the Wilmington CIT
i Railway. the Chester and other lines IN
volved and IN betterments 10 the electric
, plants Of the company after a merger oi
. the Wilmington City Electric Company
and the Wilmington Light and Power
Company.
There Is every reason 70 believe that
as soon as the legal obstacles arc cleared
away the Interstate Rilwys Compny will
lease the railways. including the VIII
mington City Electric Company, 10 tho
new syndicate. Some Of the men report
{ ed 10 be IN the new syndicate include
, Henry r. Scott r. Coleman DUPONT Al
. fred l. dupont. Pierre S. dupont. former
. Governor Preston Lea. who Is a director
, Of the Interstate Railways Company,
Charles r. Kurtz. Horace w. Cause.
Samuel X. Smith and George r. webb.
OF Baltimore. All excepting General T.
C. DUPONT and Mr.. lea are directors or
the wilmington Light and Power Com
pany.