Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1889-05-19
THE EDISON COMPANY.
PROPOSED ACQUISITION BY IT OF RICH
MoND FRANCHISES.
II II is SUCCESSFUL Our Electric system TO
Be Vastly Developed and I'M
proved.

There arc Eve companies here identified
with tue work Of operating sireet-caIs or
/ furnishing light or power.
/ Mr.. NJ. y. Flynn. Of New York, is sup
posed to be the ruling power IN each Of
| them.
Very recently Mr.. McC,cment, the comp
troller Of the Edison General Company
visited the city and MADE an inspection Of
these properties. aud an examination Of their
chartered richts aud franchi'es. II terms
can be agreed upon all OF the Richmond
companies will, in effect, he merged into me
New York company. aud IL ,, believed ibAt
great advantages WIZ thereby accrue 10 tuis
community.
EDISON GENERAL EIFCTEIc COMPANY.
The following letter addressed 20 stock
holders in the Edison Eifc-ric.LiEht com.
p,ny bv Nr.J. T.. Williams the president OF
The nv CORPORATION. will De found Of great
interest A. defining the situation ana asto de-
tails % thi. huge consolidation ana re-
ORGANIZATION:
4 CORPORATION called the Edison General
Elcctric-IiKht Company has been loImcd 10
SECURE the stocks 81 the Edison E'ectric'
Light COMPANY and 'he three EDISON manu-
featuring companies-tO VII. me Edlson
Machine Works. Hsison Lamp Company
and Bergman Is tO.-aud Tor the other
purposes set forth IN is articles Of incorpo-
ton. Arrangements sre also ueing made 10
ocy,,re stock IN the >prRCuo Electric Rail-
way and Motor Company, should II be
found desirable 20 do SO.
The s1td general company IS Organized
under the laws OF The >ta't Of Now or',
with a capital Of 2l2.0u0,O0o. Agreements
have been signed for ihe purchase 10y THIS
new COMPANY OF the capital stock Of the - d
three manufacturing companies, payable
paruy IN cash and psrtly in the stock Of the
new company. The purchase price Oh me
latter is eqsal 20 capital sum on which the
netcaruiugs Of thc three manufacturing COM
pauies, as obtained from their books show 4
ret income of nearly ID per ccnium during
the year ending November J, ISIS.
To provide cash for the Immediate needs
OF the new company and for working capt.
tal syndicate ha, secn formed 10 subscribe
for stock in the new company, and In addl-
lion TO the funds received thercifom STOCK
m the general buDauy TO toe amount Of
= $50, 500 will remain unissued for the pres
emit. available FOR use IN The future, accord
ing 60 the requirements 81 that company
The Electric " orld says:
With regard 90 he adsUs az the new Edi-
son General Company, which already " mas
rs sizn out" in TIE new offices o. - Wall
street, We understand tbat Mr. Williams re-
pr. .cEts the interest 81 Mr.. Willard. who IN
due course Will take The presidency. IL IS
,l-0 rcuortcd that tie yice-p presidency VIII be
taken bv Mr. .. II. lIerricb. VINO &c we'll
known in New York commercial and tlnan-
c'al circles. having been at one time president
cf the New York Produce EXchsnge, OF
whose Committee on Interstate Commerce ne
is now The chairman. Mr. llerrck will u Is
said, be active i'm TIE management. WNh
REGARD 10 the companies that form the con-
soiidsted concern n j. further understood
tbst no change viii occur IN their respective
personnel. They VIII De maintained as at
present constituted for some indefinite time
to come rs departments Of the buslaess.
Nlw PLANS.
The Edison CoDpsny have in mind plans
which, II developed, "li give Richmond the
greatest impetus She ever has had from any
one source. They have The money and TIE
energy To extend str,ei-c1r LIKES wherever
needed, aud one 81 their ideas Is 20 include
Manchester, Belle Isle. and considerable
amount Of suburban property 10 the terri
tory tributary 10 their lines. They have
fam 10 the future OF this city. and see bore
surprising evidences Of progress and tnriti.
IQurFfNG TW HtiS-,IEEET LINE.
Captain Andrew IIlHni. the secretary
and treasurer OF the -trr,t-c-r companies
here, said YESTERDAY thai the work OF equip
Ding the Man-Strcet Line with electrical
mower had FAR advanced. Many new cars
are already here. New iron bias been order
ri Tor the track from Eighth TO wonty-
eighth street. Contracts for timber and
paving nave been awarded. The entire
work, it's expected, viii be done boy July
lst
CAPTAIN Pizz.ni regards consolidation
with The New York company as probable,
but there are 90 many detail, to bee elected
that he cannot speak with certainty.