Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-12-11
LEGACY OF PROMISE.
DYING YEAR HOLDS OUT BRIGHT
PROSPECTS FOR THE NEW.
FIGHT FOR RAILWAY FRANCHISE.
Virginia Electrical Company May
Enter the Field as n Competitor
Can't. Pizzini Said to BE Urging n
Change in Street-Car Management.

The old year is leaving a rich legacy OF
promise TO the city of Richmond. In
its declining days three large corporations
have come into existence, each one OF
which will give employment to hundreds
OF people.
Early in the new year the keel Of the
first ship to be built in the Queen City
OF the South will be laid in the new
yards which are being operated by the
w. r. Trigg Shipbuilding Company.
The Virginia Electrical Railroad and
Development Company, capitalized within
the last few weeks at 100000. and the
Paper and Pulp Mil Company, chartered
yesterday with a capital stock Of 81 10000,
will give TO Richmond cheaper power and
a new industry.
These two corporations will have their
habitat on the site OF the old HIXall
Mills, which are 10 be replaced by fine
new buildings OF modern construction.
FIGHT FOR THE FRANCHISE.
The electrical company has, through its
counsel, declared that one OF its purposes
is TO build and operate railroad, and
this makes II practically certain that ii
will enter the race for the Main-street
franchise, which is SO soon to be offered
for sale.
This company has acquired the much
talked-of electrical franchises" granted
by the last Council, and the transfer Will
be discussed at a special meeting OF the
Committee on Streets tomorrow night
and acted upon by the Board OF Aldermen
on Tuesday.
The failure of the compassionate syndi-
cate To acquire a suitable site for their
plant renders IL more than probable that
this organization will not enter the race
for this franchise. The syndicate form
ed by Messrs. Newton, Boyd, Crenshaw
and others, has announced that IL Is In
the field to stay, and the old company
and the Richmond Traction Company VIII
also try TO acquire II.
Mr.. Jenkins is at the head of syndicate
which will try 10 inaugurate the under
eround-trolley system. and it is hard
likely that there will be any other com
petitors.
OLD COMPANY WILL FIGHT.
The Richmond Railway and Electric
Company will, Of course. make trsmen-
dous fight to retain the franchise, and
meeting of stockholders will be held in New
York tomorrow, at which this question
will be thoroughly canyassed. Captain
Andrew Pizzlni Is in New York 10 attend
the meeting, and II is understood here
that the object Of his presence is 10 fully
acquaint the stockholders with the situa-
ton here, the feeling OF the public and
Council toward the company, and what
he eonceives 10 be the cause OF this feel
ing. Captain Pizzini will, IL Is said, urge
the necessity for a change OF manage
ment, and insist upon the appointment
of a local Board OF Directors, with full
power TO manage the properties, as the
only way in which the company can hope
TO succeed. II this advice is accepted,
Captain Pizzini, who has been connected
with the company since the Union Pas
senger line was built, will continue In his
position as assistant general manager; II
il is not, his purpose is said 10 be 10
IT sign and form Il company TO bid for
the Aiain-street franchise
II Capt ain Piszini is correctly represent
ed with reference 20 the position he takes
he is not inspired with any hostility to-
ward Mr. Fisher, but Is convinced that
a change OF management is essential TO
put the company In good standing with
the Council and the people. The present
Is n critical time In the history OF the
Richmond Railway and Electric Com
pany.