The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1914-07-18
D. U.R. ASKS AN
APPRAISAL BY
STATE BOARD
Company Must Issue Additional
Securities for the Work
Planned
TO EXTEND CITY AND
SUBURBAN LINES
Refers In Petition to Prospect of
Detroit Buying the
Railways

The Detroit United Railway Co,
Friday afternoon, petitioned the state
railroad commission for an appraisal
of its properties, both in and out of
Detroit, with the object OF authorizing
the issue of additional securities with
which to pay for new work planned
for the immediate future.
Included in the D. U. r. properties
are the Detroit, Monroe & Toledo
Short line the Detroit e. Port Huron
Shore line and the Detroit, Jackson
e. Chicago railroad, having an au-
thorized capital Of Sl7106,000 and
outstanding bonds amounting TO $31,.
S31 900.
The petition. signed by Jere c.
Hutchins, president of the Detroit
! United Railway Co, and f. w.
| Brooks president Of the D., j. & c.,
and vice-president OF the Detroit.
Monroe & Toledo Short line, and De
troit & Port Huron Shore line, is as
| follows
! In view OF the necessity for the re-
I organization OF these properties I'm the
/ matter OF securities 20 provide addi-
I llOldl luINN lOF INflI tOnllnue0 0e
/ velopment and enlargement, some OF
| the immediate requirements for whici
! are set forth above, and realizing the
7 time consumed In perfecting such re-
/ organization, and also in view OF the
| fact that there is pending I'm the city
/ of Detroit a plan 10 take over on be
] half OF the city q portion OF these
/ properties in and i'm the immedlat,
vicinity OF Detroit 10 is deemed neCes
sary that an appraisal OF all OF these
properties be made forthwith 10 the
end that all arrangements may be com
! plete for such disposition OF the prop
| critics as may be made necessary. And
| whether any portion OF the property
| should be taken over by the city OF
! Detroit or not. "A reorganization OF the
! securities OF the company is essential
at this time. And accordingly and fOI
| the purposes above set forth, we re.
! spectfully petition your honorable body
| 20 cause said appraisal 70 be made al
| the expense OF these properties in the
/ Public Acts OF 1909 and amendments
thereof
The appraisal is desired as a basis
| for permission TO issue additional Sc
curities for the purpose of construct.
! ing 90 miles OF additional trackage
/ on the Junction and Crosstown lines
/ I'm the city OF Detroit. and IA miles OF
I linterurban additions. In addition 10
tdouble-tracking 40 miles OF present
single-track interurban road. accord
/ ing TO statement made by A. D. b
Van Zandt, publicity agent OF the De
troit United lines.
! Mr.. Van Zandt contradicted pub
( llshed reports that the company had
asked permission TO issue $4,000. .000
I in bonds.
The application doesn't specify
| any amount. as anyone can see from
a perusal OF the letter" he said "It
simply relates that new work Is
I planned. What Is in sight now will
cost approximately $4,000 000 but
how much OF an issue will be allowed
lies wholly within the discretion OF
the railroad commission
The present securities OF the com.
panies have been exhausted. and II
will be necessary 10 raise money "a
carry on the work OF the future"