Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-02-08
MIR. FISHERS DENIAL.
HE GIVES FIGURES CONCERNING
THE ELECTRIC CO.'S EARNINGS.
would lie Glad To Furnish Pinnt
on Mr.. GIover's TermS-'iAe"
ch,ra.. Inst sight Of-The BROAD
street Railway Ordinance.


II is the general impression 'na' "-
BOARD OF Aldermen will not hurry through
tho resolution of Mr.. Glover appropriatins
$4,000 in 4 per cent. bonds lot 'nc e.
,ablishment OF municipal electric p'ah''
a. tho Common Council did on Monday
nipht last The prevailing opinion Is that
,ha u,per branch will refer the question
to the Committee on Finance LOT i"'
Investigation Of its merits. inc ola pros
position TO appropriate bonds lot sucn
plant was killed in the Light commit
tee by tie vote. because some OF thc
members did not think the city was no"
IN tho condition to make the expenditure
Mn. FISHERS DENIAL.
49,. coorce y Fisher. general manager
NJ the Richmond Railway ana hicGtIic
Co,nanv was In the city yesterday. lie
vas called on by a Dispatch reporter
uho asked him IL the statement oil
Nessrs Brown 6, CO.. of New YORK reau
by Mr.. Glover at the last session OF ."c
Cnnmon Council. was official Mt. flshet
replIed that il was ridiculous NO s'a'e,
ment. he said, had ever been haue Oh
the earnings of the companies except
state Of Virginia and the ordinances or
tn ci,v Of Richmond. He said he did
not know the firm Of Brown x co. They
b,d no connection whatever with him or
the company and he supposed thelr
statement had been made up 70 ehaDie
then, IN trade I'm the bonds Of the COM
many TO advantage. which they could wen
do at the price they ask for them. Tho
earnings OF the company had barely been
H.-a1 oh q n
the stockholders who had invested over
n million dollars in the properties had
vet TO receive dividend or any part or
their investment back.
THE AFFIDAVIT
my affidavit referred to-" said Mr..
Fisher. was made from the gross re-
ceipts OF the companies in 1899. and was
| based on its receipts from all sources
during that year. which was the best the
| company has ever had. and its receipts
| have materially decreased since. They
| amounted in round numbers then 10
| $4,000. stated in my affidavit that
| they were between $4,000 and $4,000.
| This amount comprised receipts from all
| the side lines OF the company, sales or
| old material and machinery, which
| amounted TO about 10000. and the
| balance (say about 10000 from the rail-
|
| ciLded 5000 from the city's lehts.
| which do no: afford l cent Of prodO.
| leaving the company in this city a total
| OF receipts OF about $4,000. from when
| all expenses, Of every nature, have 10
| be deducted. And / assure you,' declared
| Mr. Fisher, chat when they are paid
the net amount viii not make any one
| lie awake at night thinking Of what II
should be invested In
The reporter asked his opinion Of the
| eiectric-light resolution passed by the
| Courcil. and he answered that the propo-
| sition. as he understood II. was that
| the city should furnish some company
with a plant. bear all the fixed Charge
| ard in addition, pay the company the
sum OF $500 per annum 20 run Cor
operste) the plant the city In the mean
time taking all risks Of ownership and
all the exigences Of the business. II he
| understood II correctly, II would be a
splendid scheme for the company. and he
would like to have the proposition made
TO him.
AlR. GLOVER'S RESOLUTION.
n view or the general public interest
that has been aroused in this electric
plant matter the Dispatch here gives
the text Of Mr.. Gloyer's resolution which
the Common Council so readily adopted:
III
| Richmond. the Board 81 Aldermen con-
curing. That the sum of one hundred
| ana fifty thousand dollars in I per cent.
bonds he. and IS hereby, appropriated
Tor the purpose Of purchasing an elec-
trc-lisht plant and site therefor, said
| bords and interest to be- redeemed from
the current revenues as follows,
| From revenue Of iE'j.................>-'.
| From revenue Of ls3j.................. -o.l ~
| From revenue OF lS9I.................. 400
From revenue Of 1s9s.................. 2s,uo
| From revenue Of lS33.................. -',,'f
| From revenue Of lyJD.................. oo.e1
| BE II further resolved. That the said
| appropriation shall not be available eN-
cept upon the following conditions:
l. That the party erecting the plant
| shall agree 10 operate same under the
supervision of the superintendent Of the
Gas-Works and Committee on Light a,
4 cost Of not over twenty-five thousand
dollars per annum, together with such
other revenue as may be derived from
private consumers for n number OF lights
equal 10 that now furnished by the Rich
mond Railway and Electric Company &c
the city.
That the charges 10 private parties
shall be no greater than the average
charge of the Richmond Railway I'd
Electric Company during the past lively.
months.
g. That all profits Of said plant aftei
paying expenses for running ari main
teuance snail belong 10 the city OF Rich
mend.
Re it further resolved. That said appro
pIlation shall be expended under the
Joint control Of the Committees on III
nance and Light. and they are hereby
invested with such further powers e..
may be necessary 10 carry out the pro
visions OF this resolution; that the plant
shall be guaranteed TO be in good and
substantial condition at the end Of the
five years.
Tho Broad-strect Line.
The subcommittee TO look into the mat
ter OF elcctrifylng tn Broad-street lin
will not meet untl this afternoon
at 40 O'Clock The city Railway Com
pany has prepared an ordinance. which
Il will be glad 20 accept from the city
granting it the privilege Of building an
electric line OF Broad street. double
tracked from Fourteenth street TO IN
Exposition Grounds wires poles an
other details TO he satisfactory 10 IN
| City Engineer. The ordinance embrace
permission to occupy the tracks on Mint
and Eighth streets between Broad an
Main for transfer purposes, and IN
schedule on Broad between Fourteenth
and Laurel T. 10 be such as is now il
existence on the Main-street road. Will
beyond Laurel the company is require
to give reasonable and fair service al
the time and a ive-minute service upol
occasions OF big public gatherings ar tn