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The provisions of the simple, Power is given to purchase the rights a of the Toronto Railway C der the lease to <the -- x syndicate dated septem be also the rizshts and inte; companies and persons , operating electric or ostre --within the city as the may deem it expedient t« im,']uding' real and persor ties in connection therewi assets. rights and franchi Toronto Electric Light Limited. For the purpose of pro such purchase the bill pre the city may borrow the quired upon the issue of debentures, bearing such 1 terest as the corporation _ proper, without the necessg mitting the debenture issy electors. The money boprp be secured by a mortgago electric and street railways an terest." be consummate members of the the rules are i fOI' the-- nurmnas. ' The move of ~'the city" has |hearty support of the Oppo members in the Legislature. _ + ,'sire." said Mr. Rowell, on the s« {reading, "to express my eoneur {with the hbill introduced by the hnemlwr for North Toronto. I sure the members of the House be glad to facilitate ts _ pa;s through the House, and 1 hope the power which the hill gives be exercised to bring about. an derstanding and put an end to series of misnmlcrstandinqu bety the city of 'Toronto and the 'Pord Railway Company,. If this binl enable this very (desirable obioct rovisions of the Bit the purpoéé of fa important action in law in harmony were down by Hon. W. 4. caase. n the even; MeNanzht (N%orth iroudluced the hil} in ture, the rules wer and the meastutre wa and second reading, beUtures is provideq the necessity of a -- ratepayors. _ Certain to the municipat act Management of Railway and Light System to be in the Hands of C ommission CITY NOT To Aasrk VOTERs FOR money in codnection with NHocken's proposition the asscts and francti Toronto Railway Comq the Toronto EHectric 1. pany. In the afternoon the ( e held a special mee without discettssion. uns decvided -- to ask for 1 RPrEHtiN® NOWLr tm iaasrle .. Bill Introduced in Legisla-- ture and Given Second . Reading lup use Pm C Y h rcessity of rj ut the nec Sit. "ltxh?iebentm'e IsSi1e tao th'}'he money Dorrowedg ie MB s P CA L dn T.v ~_CLiiy _aAs the rcor em it expedient to. x s real and persons} connection therewith: iE .4 ' Things moved codnection QUICK ACTION TAKEN TOWARD ELECTRIC DBEAL 10 micrnhoon the City Coun-- d a speciat meeting, and, t alisettssion. unanimously 1 to ask for legisliation * power to make the pur-- In the eveniU¥g Mr. YW. K. zht (N%orth Toronuto) -- in-- ited 3 ssm sure the House wil} ~ inodified op ; ho hi in the Legista rules were suspended u> inkeresits. of all persons owning opr noved swiftly yesterday 'Cltion with Mayor proposition to acgqnire and franchises of tHre adway Company -- and r< OE CHG@ bitl aro is given to the city rights and interests allway Company un-- es were suspenied, ure was given a first ading. | Issne of de-- rovided for withtout of a voteo of the 'ertain amendments street railw th(' COPDOFPe d °5 cuvdl dn un~-- E: "an' end 'to the andings betweeny ind the Toronto If this bin wild iL _ YCt may 488 upon. all ays und elec. broviding fop Dprovides that he money re-- of fc,n't_\'-.\'vur A rate of in n may deem essity of sub. ISsSi1e tao the orroweq mayw sure that the _will see that or suspended 'tHitating such the public in-- corporation to-- purchase. to miake the also bronugtq BHannua. 5es & proper.-- ?; call the Es -- of the Company, oncurre« ob --Everet puassi hope 'th has the Opposition ight Com-- the hon 1( 1891 ays de-- conud to the will D) it i1} PWd oo e e o y The Mayor expressed a hope that the deal could be carried out, and the Toronto Railway come into the city's hands by the first of July. The bill would provide that whatever the Council did would rest vupon a favor-- able vote of the people. He said if failure was the outcome of his ef-- "I ask the public and press to have confidence in me," urged the Mayor. "It would make the situation embar-- rassing if hypothetical questions were asked at the present time, or perma-- ture judgment formed. I can assure the. people there will be n»o attempt to do anything in the dark. I shall make no attempt to "put anythingi over this Council or the people of To-- ronto." His worship promised that every last detail of the transaction would ~be submitted to the Council and the public. "I can not say posi-- tively that the proposal can be car-- ried out, but I believe it can be done," said the Mayor. '"The attitude of those with whom 1 have been dealing gives me confidence that we can arrive at an agreement acceptable to the Coun-- cil, at least to the point of submit-- ting the propogsal to the people." a good deal more was to be done, of considerable difficulty and delica-- cy,. Hence a free discussion at this Jjunceture would add to the difficul-- ties. ' Nothing to be Done "In the Dark." | The Mayor asked the members of the Council not to discuss the de-- tails of the prospective deal any fur--. ther than they would regard as a public duty. "We have not yet reach-- ed the point," said he, "where it would be prudent to go into details with regard to the negotiations. The! Mayor said part of the negotiations]| had hbeen carried on between himseif and Sir William Mackenzie, President of the Toronto Ralway Company, by cable. Ths was somewnat unsatis-- factory, but Sir William would prob-- ably leave Hurope this week for Can-- ada. "If so," added the Mayor, "I hope in six weeks or two months to be able to bring before the Council the re-- sult of our negotiations and make a final recommendation." He said a good deal of work had been done, and *'"*'The basis of the negotiations to begin with," said thre Mayor. "is 160 for the Street Railway stock, and 135 for the Toronto EHlectric Light Com-- pany's stock. We offered the Toronto Hlectric Light Company 135 two years ago, If we accept the offer of 160 for the Street Railway, which is not a final figure, we will pay little more than the exact value of the physi(:al, assets and the franchise. This consid-, eration should lead us to go as far as , we could reasonably go, in arranging to submit the question of purchase to-- the people." l' Cannot Go Into Details. cil the aldermen contended them: seives with a statement from Mayor Hocken with reference to the advis-- ability of -- obtaining the permissive legislation, to be used in casge nego-- tiations should reach such a stage that purchase would be desired by the people. His worship went further, and expressed a hope that the deal would be _ actually consummated within a few months. Upon the city acquiring the railway and electric light systems it shall en-- Joy and-- exercise all . the rights, powers and privileges which were possessed hy the companies. The mangement of the street\ rail-- way and electricylight system shall be vested in a Public Utilities Com-- mission of not less than three and not more than five members, and the head of the Council shan not be ex-- oflicio a member of that Commissinn Tric light systems owned by the cor-- poration, including those purchased under the act. Mayor F At the x«nI tins,. neetin: f the transaction d to the Council can not sayv posi-- it uation. i can assure 6 n»o attempt dark. I shall but anything people of To-- ommission the Ctun