The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-01-11
A PLAIN PROPOSITION
Snogualmie Power Scheme No
Matter of Speculation.
WHAT TIE PROSPECTUS SAYS.
A Company OF $4,000. 900 Capital N
Stock and Bonds-What Wettns-
house Company Says OF IL.


Electric Power company. which proposes
10 transmit power from the falls TO this
city. has just been issued and thoroughly
explains the advantages, cost and pros
pective revenue Of the enterprise. 1t
provides that the capital stock OF the
company shall be s., e0e 900 In 20,ooo shares
OF sloa each. and first mortgage bort3s,
S65o,0to. Of an authorized Issue OF sl.oo0.t90
The directors are Daniel II. Gilman. of
Seattle: Hon. Watson c. Squire. Of Sc
attic. United States senator: Griffith
Davies. postmaster OF Seattle: Hon. Smith
NJ. Weed. Of New York, and Charles d.
Wells OF Brown & Wells, of New York.
The prospectus states that the coEl-
pany has acquired $50 acres situated on
both sides of the Saoqualmie river, there
by controlling. the power of SnoQualriie
falls, % miles east of this city. This is
the largest water power in this state.
and is finely located for inexpensive de-
yei0pment. The height OF the fails Is
26s feet anu the theoretical energy is
5l,6g7 horse power. The eompanys plan
is 10 develop and deliver by electrical
transmission $500 horse power in this
city. Ii is claimed that about this
amount Of power is now generated by
sheam in this city at an expense of 500
a year per horse power
The company has an offer from the par
ties who successfully completed similar
work at Niagara Falls 10 furnish the
electric plant complete with the copper
cables TO connect the plant with this
city for s350.00a The falls and the prop
erty on both sides OF the river have been
conveyed to the Snoqualmie Falls Electric
Power company fer $40 Geo of its bonds
and $1.lU0.0oa Of its stock. The company
will retain In its treasury sSJ0.oo0 OF ITS
bonds and s500,00o Of its stock 10 provide
for an increase of the plant. The re-
naming sie9.0oo in bonds and 100000 in
stock are to be sold TO provide for the
eleStrical and hydraulic plant.
The largest electric light and power
company in this city has offered to pur-
chase its entire stock OF electricity from
the company, ard at a price which would
pay the interest on the bonds and a div
iaend on the stock. If the company sells
only 5000 horse power Fer annum in Sc
attic at $50 per hcrse power instead of $50,
1t would yield a profit clear of interest
on bonds and operating expenses Of s42-
800 per annunl, CT nearly per cent on
the S,510os9 o. stock issued. The sale
of the $500 horse power in Seattle al $50
per horse power would net over per
cent en- the stock. The extension of
the service TO Everett would yield an
additional revenue OF fran $4,000 10 si5.-
eoo. and the extension TO Tacoma would
yield another large addition to the rev.
enue. II is also set forth tina. with the
natural growth OF Seattle soon another
$500 horse power viii be needed In adj
~ ~. oil ba
cheap power viii cause many manufact-
uring plants 10 locate a, the falls. where
the company's lands are suited to their
location. II is estimated that when the
power is sold TO the extent Of Io,loo horse
power per annum tho income will war
rant 10 per cent dividends ON the stock
Appended to the prospectus is a letter
from the Westinghouse Electric and
Manufacturing Company which states
that electric power can be transmitted
over long distances with the best results
Among other things. the letter says:
In repiy TO your question as to the
practicabilty Of transmitting power by
electricity over distance Of twenty-five
70 fifty miles. we desire 10 say that in
the present gate of the art II can no
longer be considered an experiment.
Ore Of the eldest power tranSrYass-
sion plants IS that Of thu Rearing Fork
Electric Light & Power Company. ASPEN,
Col. transmitting several hundred horse
power three 70 four miles about SIX
years: the Geld King Mining Company.
Telluride. Col. franszrsts go horse pow
er ten miles. sailing power to several
stamping mias. The SaEs Ara:onS0 fsFec-
trio Lignt & Power Company TRANSMITS
liEht and power ifteel miles to Pomona
and tatrty miles to san Bernsraino. al
the Willamette falls 10 Portland. a dis
lance OF about fiftcen miles. There are
many moro plants in operation ard a
large number m course of construction
the most important 90 walch IS the Mag
ara Falls plant, watch VIII be Is 90 horz.
power % start with an3 viii transmit
power 20 Buffalo twenty-five miles or
over. AMI the company consezIgsyIates a
muca larger transmission when they hara
the nearer g1zaTks. supplied. We Wish
10 say that ws are prepared t. tsgiki gen
orators ~ transmit power IN units of s.ass
horse power Ut less OVER distances Of at
least ffty miles or less and guarantee
tSeir successful operation. AMI Il IS onlv
a question f5r tlse capitalist - decide how
nDach he can seIl tire p5aer for. 50 trans
7Yaislea. 70 determine the return for ira
capital invested
short ard stout men car get overcoats
a. factory cost today ard tomorrow sizes