Pine Bluff daily graphic., 1917-02-01
ARKANSAS MEN
 NOW IN CONTROL
 PINE BLUFF CO. Ford, Bacon & Davis Dis pose of Part of Holdings in Utilities Company.
TO BE NO CHANGES
 IN THE MANAGEMENT
Thornton, Philadelphia. Fordyce and Little Rock Men, With Memphis Banker. Make Purchase of Big
 Block of Stock in Company.

By the acquisition of a large DOT ton of the stock in inc Pine Blufe company, formerly controlled by Ford, Baopn & Davis, five Arkansas men and one Memphis banker become the largest stockholders in the cor poration which owns and operates Pine Bluffs street railway, electric lighting and water systems. Tt.e amount of the stock transfer cc@''G not be ascertained definitely, but 1t is understood to be approximately half of the Ford, Bacon & Davis hold ings,
 The Arkansas men who have thus bedome financially interested in the progress and upbuilding of Pine Bluff are w. s. Ribeneck of Thornton president of the Stout Lumber com pany; H. c. Couch, Philadelphia, who is already interested in number of Arkansas public utilities; Charles S.. Mccain, Little Rock associated with the Bankers Trust company of that city: J. H. Meek, Fordyce banker and J. l.. Longino, Philadelphia busi- ness man. J. H. Watkins is the banker of Memphis and New York who has purchased an interest ill the loo.al company.
 President F. G. Bridges, confirm ing the report of the transaction, said the transfer of the big block of the personnel of the management of the company, nor of it's progressive policy. On the contrary, it is con- sidered as highly probable that the investments of the dompany here may be increased, tho as yet nohting defi- nite has been decided upon. All of the Arkansas men who have become in terested in the local company arc known here and are recognized as progressive business men. with con fidence in the future success of Ar kansas enterprises, and their affilia- ton with the Pine Bluff company is expelled to rebound to the benefit of all concerned.
 Recently, the Pine Bluff company amended it's charter obtaining all thority to increase the capital stock from $1,200,000 to $2000, ,000, but none of the authorized new stock has been issued, and there has been no an nouncement conderning the plan in regard to this stock.
 The company's properties here are ] valued at about $1,4OO GOO. It's debts total $9fO,935, of which $SO0,OOO $ bonded indebtedness The capital of $1,200,000 is divided into 5000 shares of preferred stock and 6,000 shares of common stock. The company's an nual report shows that the preferred stock is held by 123 shareholders whose holdings range from five i shares to 400 shares. only one person holding as many as 400 shares. ! Besides MT. Bridges, local men owning common stock are Byron C. Fowles, secretary and general super intendent; Fred Fox and c. H. Trip lett.
 Since acquiring the plant and fran chise, the Pine Bluff company has
 constantly increased it's investment here, improving the systems, with the result that Pine Bluff has street car eledtric light and water service equa to that furnished any city of 50,00( population.
 Not many months ago there wa talk of extending the Cherry an(
 Main street lines, looping the ends and forming belt. The greatly in creased cost of steel and other ma terial, however, due to the European
 war, led to the decision to let thu
 plan rest in abeyance for time, a.
 it was calculated that revenues woult fall far short of meeting even interes
 charges on the heavy expense of thu extension.