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The Street Railway Looking Up

The Street Railway Looking Up image
Parent Issue
Public Domain
OCR Text

Asannounced in Tuesday's Argus, Mr. F. H. C. Reynolds, of Banger, Maine, representing the bond holders of the Ann Arbor street railway was in the city Wednesday, with power of attorney from five-sixth of the bond holders. He desires the stockholders to turn their stock over to the bond holders. If they are unwilling to do this, he proposes to take steps to close thera out, asking the United States court to appointa receiver. Mr. Reynolds and his counsel, who was with him, was called to Philadelphia yesterday, but will return in a week when he expects to learn just what the stockholders will do. He has absolute power of attorney and it is his expressed purpose to see that the road is rebuilt and requipped. His plans are of course not fully matured, but he expresses himself as satisfied that much more of a line is needed here to make the road profitable. He expects to bring street railjvay experts here to lay out a plan of the road to cover the whole town, so that a resident of any part of the city may reach any other part of the city without much walking. It is expected to put six cars and four trailers on the road. The council will be asked for new franchises and a power house, and it is expected to put it in charge of a competent electric street car man.


Ann Arbor Argus
Old News