The Detroit times., 1915-04-03
Favorable Ac ton by
Stockholders Meet
ing Made II ublic
VOTE ON PR oPOSAL'
PLANNED Fl Or MAY.
Minor Net rotations
Still Under Way,
COuzens admits

As forecasted. tna stockholders OF
the Detroit United railway In their
special meeting We dnesday. accept
cd the city's offer IN assume bonds
to an amount no's 90 EXCEED s34.-
300. 900 for the str "a railway system
within the one-fare ne and author.
ired the ooard OF . directors to enter
into q contract with the city for
the sale OF the property on that
basis.
. oncial notice or the action taken
was received by | he board OF street
railway commispk uners In the form
Of q brief comm nication from ]. C..
Hutchins. presid 9 Mt OF the ID. u. r..
containing coiIy OF the resolution
adopted by the stockholders. The
communication Ivas read and dis
cussed IN mes ing OF the commis-
sion. late Thu iday afternoon. II
was made pub'S at IL o'clock. FRI
day morning.
Commissioner James courens
stated. Friday, that an effort would
be made to haze the purchase plan
ready for sub n ission TO the people
by the middle . II May. as Il Is desir-
able to get be matter disposed OF
before hot nlher comes on. An
other reason for the early submis-
sion Is that. q the city Is going to
take over III a lines. the commission
feels that II N could do its own track
and extensic n work.
The stock hciders. In their resolu-
ton. specify that any amount ex.
pended by Tie company for addi-
tons. exter ions and betterments
after April y shall be added to the
purchase prt-ce. but there viii be
little work d me. Il Is presumed. In
view OF the s,ending deal. There can
be no charge for track work and
other expen 9 es that ordinarily come
under the IN ,ad o. maintenance.
Mr.. Coux g Ms also stated that new
negotiation ~of a minor nature"
we're under. way, but would not admit
that they A=-d. anything to do with q
possible ! Induction In the price. II
10 limited in some quarters that II
the $500. 600 OF the mortgage debt
outstandin against the suburban
lines. Whit b IL included In the in.
debtedness{ Of s24.s00.900 the city
offers 10 ad sumo. were deducted from
the total figure. the proposition
would stan I'd q better chance Of be-
ing acceB ed by the people. How.
ever. Mr.. Couzens would not admit
that the new negotiations had any
thing to 40 With the suburban bond.
ed debt.
The f,sIi text OF the d. U. r. letter
follows:
Dec oft. Mich. Mar. II. 1915.
To the - onorabie the Board OF Street
Railwn Commissioners.
jams conzens rrssident
Gentis men-we beg 10 advise you
that At tho special meeting OF tho
stoekht dcrs held on this date at 4
.itlon saemiited BY your eomrnission
dated Feb. ~. 1915. the following
nous NSbte Of the stockholders repre-
scented. to-wit. s7.4oi shares:
Resos yed, That the board OF direct
ors be and II hereby authorized to
| enter w to contract 20 cell and con-
vey 20 the city OF Detroit the COM
pany's property In the "one-fare
zone" so called. of the city OF De-
troit, I eing the same property more
partlcu larry described In the pro-
posal II the street railway commis-
sion, q ated Feb. e. 1918. at n price
OF t2ti 10000 plus any amount en-:
pended for additions. extensions and
betteru snts after AprH 4, 1915. on
terms. including terms Of payment.
sati.f. tory to said board and deter.
mined by its counsel 20 be valid.
Yours very truly,
| ,. G. HtTCHINs.
4 President.