New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-11-20
Deal Just Put Through Means
Virtual Monopoly of London'S
Transports in Common.
u. S. CAPITAL INTERESTED
Only Concern Not in Amalgama
tion Is Tramway System,
Run by Greater City's
County Council.
LRv Cnhle 10 10 TrLhnno. |

London Nov 2O-Tbe UNDERGROUND
Electric RAILWAYS Comranv in, which
American canitaI &c laroalv interested
has concluded a da,l ,,.bicr ,,i,.tr,1I,,
means an obso1rto ,nororoI,, ~ tho
traffic of Tho r,otro,oris Win IN. solo
execution % tbor. . = traros Il ,cos
announced Yesterday that the Under
ground had secured control Of the Cen
trail London Railway and the CITY e.
South London Railway. while the Lon
don United Tramways and the Metro
politan Tramways. with their motor
buses. will be formed into one company
working in agreement with the London
General Omnibus COMPANY. Limited.
which is now controlled by the Under
ground. Official details OF the deal are
as follows:
The Central London Railway and the
CITY and South London Railway will in
future form mart Of the Underground
Electric Railway Comnanv,e evstcrn
Ordinary shareholders IN tho Central
London Roi1u.oy v.iu receive o. 1 nor
cont cpar.rtoo NV ,ba Trndorororrd
cornpanv and share IN rho evtart Of An
nor cent T., ovcass Of am. di,.,donds n,id
by the Central London above per
cent whenever the average annual
dividend Of that company for the pre-
vious three consecutive years Is i'm ex-
cess Of 4 per cent.
The CITY and South London ordinary
shareholders for each FOO NJ stock will
get 40 nor cent &, the T.ordon Electric
Railway 1 per cent preference stock
and % per cent in the London Elec-
tric Railway ordinary shares.
The terms Of the amaIgamation Of
the London United Tramwavs and the
METROPOLITAN Electric Tramwavs have
not yet been published. but are ex-
pected in a few days.
Il is understood that the new COM
pany which is being formed Will issue
debenture bonds and preferred and or
binary shares in exchange for London
United Tramways preferred and ordi-
nary shares and for Metropolitan Elec-
trio Tramways preferred and ordinary
shares.
This new company in addition will
take over from the Metropolitan Elec-
trio Tramways the whole of the issued
shares in the Tramways and Omnibus
C,mpanv bought by the metropolitan,
and is now taking delivery OF a number
~ rnotorbuscs which will be run by the
London General Omnibus Company
The traffic trust now includes the fol-
lowing railways, motor bus and tram
COMPANIES: The District, the Bakcrloo
the Hampstead and PiccadilIy the
Central London, the city and South .
London. the Motor Bus and the London
General Associated VI. +. T. Tram
,rars
The London United Metropolitan |
hieclrle mas a'So "o' N'''H
with the MelropoHI"" i"''""''
l.. q 5. w. Railway ana some Oh INC
other motor bus companies.
A bill will be promoted i'm Parliament /
AZ the pevt session for further extern |
-, ,..,-o,,r,,,,,s j., tho trrst,y |
- ..,...-i,.,, ,.,.,,,,,..,i,,,, /
system i,''u,',e r''. 81
between '''
London tube AT Ihe EuS'o" ''' ''''''"'
by which it will be possible 10 run /
through trains from the North OF Lon /.
5,.,, q, tho Rank and 10 Clapham Com /
mn. ,,....,. t..-,....,,-
'"' - ,,n,. on, ~,
ihorlzed c"P'u"1 VI ~',V'.''''' az
which Is issued In au"l''"h ''e'c %
II 2OO,G96 in ordinary shares OF one
shilling each, Of which IJG,3lJ IS Is /
sr.d. 81 73OOOO in ~ per cent bonds /
NJ 1g33 E11S1. 900 i'm 6 per cent first B
-.,,.t,,.o ;,cor,e. doheptura stocI; /
I'm cn,,ono, g.. = ... l.,,,
uue lof'' anu ~ ,,,p -,
income bohuS' ""' 1910 w VIZ
has yet been paid.
, - pouu,,y IN.