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Street Railways Combine

Street Railways Combine image
Parent Issue
Public Domain
OCR Text

At the meeting of the stockholders of the Ann Aibcr & Ypsilanti Street Railway Co. and of the Ann Arbor Electric Street Railway Co., held on Friday afternoon last, resolntions weie passed and the final steps in the consolidation of the two roads was effected on the following basis : The Ann Arbor line pot in its $100,000 stook and $100,000 bonds and the ruotor line put íd its $100,000 stock and $60,000 bonds. It was decided to put 40,000 more bonds on the reorganized road and the Ann Arbor and Ypsilanti Electric Street Railway Co. is now reorganized with $100,000 stock and $150,000 of bonds. Each stookholder in the old coxupanies will, it will be seen, have just half the aruount of stock in the new conipany, while each boudholder in the old Anu Arbor line will have half the amount of bonds in the new company, and each bondholder in the motor line will retain the same arnouut of bouds in the new company. The following are the officers of the new company: President, John Winter, of Detroit; vice president H. P. ttlover, of Ypsilnti ; secretary, J. E. Beal, cf Ann Arbor; treasurer, C. E. Hiscock, of Anu Arbor. Additional directors - D. L. Quirk, of Ypsilanti; Oliver O. Lau, of Detroit, and F. H. C. Reynolds, of Baugor, Me. On Saturday, iu couversation with a Washtenaw Evening Times reporter, one of the officers of the new company said : "At the meeting last uight prelinrinary stepts were taken looking to a change iu equiprueut of the motor line to electrical power at the earliest possible moment and in wy opinión eleotric cars will be ruuniug between the two cities of Ann Arbor and Ypsilanti inside of 90 days. In the nieantime the road will be run as usual with no change in regard to rates charged, and uutil the re-equipruent is put in it will be necessary to oontinue the sarue rnethod in purchasing tickets as has been in vogue heretofore. When the change does take place the service will likely be much more frequent than now exists and oue ticket purchased in Ypsilanti will take a person to any place ou the line in the city of Aun Arbor. The power to run the road will, as soou as the road is equipped, be leased from the Aun Arbor Electric Lignt Co."


Ann Arbor Argus
Old News