The daily morning journal and courier., 1898-01-12
J. P, MORGAN AND EDISON NOT IN


 ties interested we have been not a little amused by the articles that have re- gently apeared in the Connecticut and New York city papers concerning the development of the water powers of the Housatonic river The report that J. Pierpont Morgan and Thomas A. Edison were at the head of syndicate that had purchased the largest water privilege of the state at Falls Village and would there erect several of the new Edison ore separators for utilizing the abund- ant iron ore to be found in the vicinity, is entirely without foundation. The ac- tual facts as nearly as they can be 1 ascertained and as far as they can be wisely divulged at present, are as fol- lows:
 In 1893 the Hon. Nicholas Staub of New Milford, then comptroller of the state of Connecticut, in association with several other parties obtained of the legislature a charter entitled "The New Milford Power company" for the purpose of developing the water pow CT of the Housatonic valley. Soon af- l ter the charter was granted MT. Staub
 
 parties and became the sole owner of I the charter He immediately began 1 to obtain in the towns of New Milford l and Kent leases of tracts of land ad- | jacent to feasible water powers and l capable of being used for flowage pur- poses. In instances where MT. Staub 1 could not feasibly obtain leases, he purcased the property desired. The lNn ,x,I,r o1l ,,s,4 70 | April 1898. The expense thus involved came upon MT. Staub alone and was considerable.
 Later MT. Staub procured an option on the majority of the stock of the Falls Village Water Power company, a company organized under the general l laws of the state of Connecticut in ] 1851, with a cash capital of $200 000 The company at that time spent all l of their capital in purchasing large tracts of land, building canals stor- 1 age reservoirs, houses and other struc- l lures, 1t being the intention of the l incorporators to erect car shops and | locomotive works for the Housatonic | Railroad company. One of the pro- jectors was the president of the rail- road company. Soon after the ex- | penditure of the great sum of money, he died, and, the other incorporators l being unable to agree as to how they l should use the property, it has since lain idle and unproductive.
 About year ago some New York parties inspected this property, and l found it so satisfactory that they at once obtained an opinion of MT. Staub l on all of the property, at his disposal, including the charter of the New Mil ford Power company, the leases, the propery purchased, and the majority of the stock of the Falls Village Water Power company. About February 1, 1897, Mr. Staub made deal with these parties and they as we are informed, l intend to utilize the several water l powers for manufacturing purposes in I the near future.
 This event will be the greatest one in the history of the Housatonic valley, and will place this valley on an indus I trial equality with the Naugatuck val ley, and perhaps more than on an l equality, the water power of the Housa- tonic river being four times greater in capacity than that of the Naugatuck l river, New Milford, the central town of the Housatonic valley may become a second Waterbury.
 The prospect being so favorable, we would suggest to all whose property may be enhanced by the great indus trial change that they shall not stand in their own light, but agree to sell property that may be needed for manu- featuring purposes at a fair price rath- CT than to ask fabulous prices and dis courage the full development of the manufacturing possibilities
 l MT Staub deserves, and undoubtedly will receive, the hearty congratulations not only of his fellow townsmen but also of his many friends throughout the state They will be glad to learn that he has made financial success foI himself They will ppreciate the fact that because of his untiring enterprise his faith in the industrial possibilities of the Housatonic valley, there is prom ised a greater betterment for all who may live in this section than has in any way heretofore come to them. MT Staub having been so successful in one remarkable undertaking we trust that he will be. equally successful in his pro- ject to build an electric railroad be- tween New Milford and Lake Wara. maug We may hope that the electric railroad will benefit the interior of the town while the village of New Milford is receiving an impetus from the manu
 featuring development. That botf undertakings may flourish and be help ful to the citizens of this and neighbor- ing towns, is our sincere wish.-New Milford Gazette.
 STRANCE STORY OR MIR TERRISS