Perth Amboy evening news., 1912-03-05
WILL BENEFIT
PERTH AMB0Y
Public Service to Connect
Railway With AFast Line


Perth Amboy will be greatly
benefited by further plans Of the
Public Service Railway Company, as
announced today, which purposes to
take up the long agitated question
Of connecting Jersey City and Cam
den by a fast line" and also pro-
vide for rapid trolley service to
Elizabeth and Newark for Perth
Amhoy patrons by the extension Of
Its lines from a point near Tremley,
on the proposed route, to the Rah-
way~Perth Amboy line of the Public
Service Company. The improvement
would enable residents OF this city
and vicinity, connected by trolley,
to make rapid visits to every large
city in the state-efther In North or
South Jersey-at a minimum rate.
At the present time the fast line"
runs from Trenton to New Bruins
wick.
Need Sanction of Board.
Contamination of these plans
will be delayed until the corpora
tion receives the sanction OF the
Public Utilities Commission to allow
the former company to gain control
OF the Riverside Traction Company,
sElizabeth4Trenton Railway Com
pany, the Cinnaminson Electric Pow
or and Heating Company and the
B~ordentown Electric Light and Mo-
tor Company April /. Negotiations
have been pending for some time
and arrangements have now been
made by which the four concerns
are to be taken over under leases to
run for 99s years.
The Riverside Traction Company
operates between Trenton and Cam
den and owns the two electric plants
Involved In the transaction. Under
the terms Of the lease the Public
Service Railway Company agrees to
pay the interest o the outstanding
Ave per cent. bonds, amounting to
4868, 900; Ave per cent. dividends
on $266.ee0 OF preferred stock, and
4 dividend on $~747,000 OF common
stock, amounting TO $14.193 the
arst year and increasing annually
until the seventh year when the
maximum Of $19,1a3 will have been
reached, az which figure it will re-
main.
The lessor company Is required to
raise su1fefent new capital to put
the properties in a state of efficiency
and the work of rehabilitation, In
Guiding the building of a large pow
erhOuse will be undertaken. So
much has to be done. however, that
probably q years time will be re-
quired to make the necessary Inn
provements.
Leaee Another Road.
Capital te also provided for In
the lease Of the Elizabeth-Trenton
railroad. Tho Public Service Rail-
way Company agrees upon the legal
contamination of the lease to pro-
coed to rehabiiitate the portion Of
tho road between Trenton and Mill
town according to plans already
made, and to proceed to construct
the remaining portion OF the line.
for which \ right of way has been
secured. from Metmehen to
Elizabeth
The massachusetts rsilraaa
VIZ no outAthnding haMAS x51S
tAaermsr6fstT9n~uEHS Public
6srv1ae Railway will pay ive per
cent. divfdeHda on the 3180, 900 pre-
Eerred stock OF the leased company
diyffends vii be paid Gu tbs
k911.3 OF commO stock for the
irnt two years. The third year one
cent. dividend In guaranteed
Nth An additional one per cent. an
aually until the sixth . when
~ maximum OF four per cent. will
have bean r6ached-
with tie requirement OF these
railroad properties the Public
c~~sse- -s.s ..-es physical
between the northern
and southern divisions Of It's street
railway systenn, which It has. not at
the present time. and will secure an
entrance into the city of Trenton
the railway Hines Of which are In
ether hands.
The Cinna1ninson and Hordeutown
companies are electric light and
power eoncerns aud do net control
trolley lines.