As a first move in the changes in the Boston American league baseball club matters, papers were passed yesterday transferring the Fenway park grounds on Ipswich and Lansdowne sts to Chas. H. Taylor of Boston, Ashton Carr of Melrose and Arthur C. Wise of Hingham, as trustees, to develop the property, build grandstand, pavilions and otherwise grade and improve the grounds so that for capacity and character the accommodations will be second to none in the country.
Of the trustees, Gen. Taylor is the head of the Globe newspaper company; his son, John I. Taylor, is president of the Boston Americans; Mr. Carr is vice president and treasurer of the State st trust company and Mr. Wise is a member of the firm of Millett, Roe & Hagen, which firm has bough the bonds issued in financing the operation. For convenience in developing and improving the Fenway realty trust, of which the above named men are trustees, is created with a capital of $300,000, divided into 3000 shares of $100 each, practically all held by the owners of the club, this form being as the most convenient way to carry out the new development. A mortgage securing $275,000 5 percent nontaxable bonds has been recorded with the trust deed.