. The street railway review . rtgage, and will be subject to issue fromtime to time for the acquisition of additional property and for newconstruction, improvements and betterments, under conditions tobe stated in the mortgage, which will properly protect the bond-holders. The company will purchase new rails, now cars and new powerstation equipment. THREE-CENT FARES AT LORAIN, O. The Lorain Street Railway Co. started on a 3-cent fare basison June 21st. This road which connects Lorain and Elyria, Ohio,is the first one in the state to adopt this rate of fare and it is ad-mitted to be somewhat of
. The street railway review . rtgage, and will be subject to issue fromtime to time for the acquisition of additional property and for newconstruction, improvements and betterments, under conditions tobe stated in the mortgage, which will properly protect the bond-holders. The company will purchase new rails, now cars and new powerstation equipment. THREE-CENT FARES AT LORAIN, O. The Lorain Street Railway Co. started on a 3-cent fare basison June 21st. This road which connects Lorain and Elyria, Ohio,is the first one in the state to adopt this rate of fare and it is ad-mitted to be somewhat of an experiment. Mayor Johnson, ofCleveland, is a small stockholder in the road but disclaims anyresponsibility in reducing the rate of fare, stating that it was dueentirely to the board of directors. The new rate of 3 cents willcarry patrons anywhere within the corporate limits of either Lo-rain or Elyria, but a 9-cent fare will be charged between the twoplaces. The arrangement is this—3 cents fare in Elyria. 3 cents in Lo-. NEW LAK HUl SH, CHICAGO UNION TRACTION CO. Clark St. near Devon Ave., and covers an area of nearly threeacres. The barn tracks are reached from a second track parallelto the main track the centers of which are 10 in. apart. The specialwork was done by the Falk Co., of Milwaukee. IMPROVEMENTS AT ROCHESTER, N. Y. Mr. T. J. Nicholl, general manager of the Rochester Railway Co.,has sent us a copy of the resolutions adopted by the stockholdersof that corporation, at a meeting held May 24th last. At thismeeting is was decided to issue $2,500,000 of new 5 per cent pre-ferred stock, and $2,500,000 of new 5 per cent general mortgagebonds. The present stockholders are to have the privilege of subscrib-ing for the new preferred stock in the ratio of one share of pre-ferred stock for every two shares of the present stock owned. Sub-scriptions for the new issue are to be paid, 40 per cent in cashand 60 per cent in the present stock of the Rochester Railway Co.,at a va
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Keywords: ., book, bookcentury1800, bookdecade1890, booksubjectstreetrailroads
