GENERAL CARRIAGE COMPANY.
|Topics: General Carriage
The New York Times
January 5, 1900
Formal Announcement of Change of Control—Joseph Leiter a Director—Automobile Omnibuses Successful.
Formal announcement was made yesterday of a change of control of the General Carriage Company. The following new Board of Directors was elected: Cyrus Field Judson, Joseph Leiter of Chicago, Winfield S. Jewell, Frank W. Curtis, and Robert I. McKinstry of Camden, N. J. The Directors elected these officers: President—Cyrus Field Judson; Vice President—Winfield S. Jewell; Secretary and Treasurer—Frank W. Curtis. Mr. Judson is said to represent Edwin Gould, who, according to report, has become a large stockholder in the reorganized company.
The statement is made that the board will soon be increased by important interests. President Judson made this statement:
"I have interested with me several strong people, who realize the value of the charter which this company holds. We have made arrangements to proceed to operate under it, and have placed an order for a number of automobile omnibuses, which will be completed with all possible speed. The success of the automobile omnibuses in Fifth Avenue has demonstrated to us beyond a doubt the advisability of pushing forward with all possible haste the construction and completion of omnibuses already contracted for, some of which will be operated by electricity.
"The majority of our vehicles will be operated by a new motive power, which has been developed to our entire satisfaction and has proved to be much cheaper than any other motive power known. The application of our new power to vehicles has proved itself quite simple, from the fact that the standard apparatus as used for these purposes has lent itself admirably to our purpose."
General Carriage stock was the feature of the outside market yesterday by reason of its weakness. Less than a month ago it touched 200. Yesterday it sold at 2, a decline of 198 points. An unofficial explanation of the break is that it was deemed desireable to shake out certain interests.
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