The World. [volume] (Martinsburg, W. Va.) 1891-1896, 1892-11-28


cut rates but in she cad peace has
been made by the defeat and surren-
der Of one company. or the consolida-
ton Of the rival companies into one or
BY the formation Of pool trust be-
tween them. a slight investigation
into the history d such companies in
Baltimore, Philadelphia and Wheel
iagwill prove this obvious truth.
II the Edison Electric Eliminating
Company were streng financial IN
stitution, 81 backed by the Edison
Company De New York.it IL not proba-
BILE that nm application would be made
for franchise but It is the weak
financial standing Of this Company.
mhieh invites attack, and makes il i
fit victim for a foreign company with
a full treasury.
The Corporation should own It's own
Electric Light plant, II il wishes TO
get the best service for iis streets 81
its citizens To grant a franchise to
. competing company foi, lighting
purposes will simply increase the diff
culties in the way Of the Corporation,
should il have any idea of ever intend
ing TO control its lighting. Iastoad
IL one plant, ii will have two 10 buy
or If it buys but one il viii besubiect
to war and rivalry from the other.
The franchise 70 this Company pos
sibly ought not, therefore, to have been
granted in the manner III WHICH ii wass
but to give the Council a chance to
correct the mistake then made and e
save the people from the evil Of two
rival companies in 50 small a town,
the Edison Electric Illuminating Com
pany will agree with the Council on
any reasonable terms. The Company
offers its plant and franchise to the
Corporation for Sl2, 800, the amount Of
capital stock, Its bonded indebtedness
Of $4,000, and its floating indebted
ness Of $4,000, aggregating $3l, 900.
The entire plant cost s43, 900 part Of
which has been paid by the earnings
Of this Company, no part Of which
earnings has gone to stockholders IS
dividends Or otherwise and no com
lpensation il asked for the labor 81 the
managers and promoters during the
past three years, nor any interest on
the money invested. This will give
the Corporation plant which includes
u fine Touring nip, a race with water
power extending back to Fitz's and
supplying at its best SO horsepower
and q railroad switch 1T its door. On
| the other hand should the circumstanc-
es of the Council, or ITS corporate au-
4 thority, not admit Of any Immediate
| purchase by the town Of Martinsburg.
i the Edison Electric Illuminating Conn
pany, will in exchange for an exclusive
franchise for limited time, give tho
! Council an option to acquire the plant
and franchise Of this Company at the
end Of any specified time; the Corpora
ton paying thereforitsactual value to-
be aseertained in any manner to be mu
tnally agreed upon. This course, more
over, will be profitableto the Corpora
ton Of Martinsburg. ltnow pays to
this Company S2,26S year for street
| lights the interests on &3l 900 would
i be. only 81, $50 year, thereby netting
the Corporation the sum Of $718 besides
/ its custom lighting.
The Edison Electric Illuminating
Company would therefore respectfully
urge upon this Council, not to grant a
franchise for electric lighting purposes
to rival company, As such action
cannot, in the very nature Of things
bring about permanent reduction In
the prices Of lighting, as the revenues
will thereby be divided while the ex-
penses viii be doubled, and will simp-
1, IL break up this company, COM
posed Of citizens Of Martinsburg, At the
request Of non-residents but if the
Council are dissatisfied with the con
duet Of this Company o. object to its
having an. exclusive franchise, then,
we trust, that the Council viii arrange
to acquire its franchise and plant and
operate it themselves.
Respectfully submitted,
EDISON ELEcTRIc LII. Go:
N ---@s A-~-------
h KILLED BlsTHn@C AIRS.
Mr.. Frank Baird. cattle drover on