Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-10-23
OUT FOR FRANCHISES,
EIYe Powerful Syndicates in the
F.aIdfaCipRaiIHay Privileges
MAY SELL TO HIGHEST BIDDER
This Plan Suggested and Seems TO Meet
With General Favor.
,,r OLD COMPANY HOPES TO STAY
thinks II should he Given First Con-
.,aer,tion-An Investment of Over
Two Million Dollars-Mr. Mere
dith's Condition.
,.,,r OLD COMPANY HOPES TO STAY.

r5,rceforth the battle Of the street rail
v.vs viii be waged in earnest ana Inc
s-rr for the waning franchises now held
t. the Richmond Railway and Electric
r.mrany viii occupy large share Of
public attention.
Already five competitors are In the
trd and q good deal of quiet work is
i.rs done in the interest of each. The
old company will make a strong fight
g. retain us present privileges, for The
,--.fut of money invested has been enor-
NOUS. and the stockholders will maze
,.erv effort to>retain the hold they now
have on tho property. The Traction
,6muany will be a powerful adversary, Tor
That company is reasonably anxious TO
absorb the lines Of the whole city and |
fits aspirations are backed, 10 large eX-
tent. by popular sentiment. A poWeriul |
syndicate has been formed In New YORK |
for the purpose of buying the Main and
Broad street francises with the loop INES
IL is composed of the principal owners oi
the Metropolitan Street Railway system
of New York and an engineer Of mat
company has lately spent considerable
time here looking over the field. Mr.. W.
l. Jenkins. of this city, is the promoter
Of another syndicate, which may bid Tor
the franchises. with the intention, if sue
oessful. Of instituung the underground
trolley system. and yet another syndicate
Will seek TO obtain the privileges for the
exploitation of the compressed-air motor
power
NAY BE SOLD AT AUCTION.
The method of disposing Of these fran
cbfscs has not been decided, though the
suggestion has been made-and has met
with general favor-that they should be
sold AT auction TO the highest bidder from
Tho steps OF the city Hail. Even the
syudicates in the field are strongly In
favor OF this plan, and with 50 many COM
psttors and 50 many different systems
there is little likelihood Of a pooling OF
interests.
The Richmond City Railway Company
was chartered March II, 1881, and It's
charter was amended March 1, 1888. Inc
ownership was consolidated, ana the
name changed TO the Richmond Railway
and Electric Company, February ~ losV'
This company holds franchises passed py
tbs Council. December H. 1865; March l6,
1sS. Nav IL. 1852; March IA, 1883, all codl-
nod I'm the city Ordinances of 1880. Nume-
r,fis ordinances have been passed grant
irr franchises for dummy lines
WHEN THE FRANCHISES FALL IN.
During the life of the last Council city
ATTORNEY C. T. Meredith furnished the
following Information with respect TO
tb4.. franchises at the request Of the
c.ty fathers: 400 iii,
"AU routes in existence in 1885, which
have not been subsequently surrendered
e.epire December 81, 1gO-that IS TO say
,bt limos ON Main street, from Rockets
~
from Main TO Broad; single track on
BROAD street to Laurel, and or Laurel
street 90 Main street
"Au routes graded since loSo ana now
iu use expire January ], 1900, except the
northern track on Broad street, Whlch
the company acquired from the Richmond
Fredericksburg and Potomac railroad
and which # uses with the power
lp the Council 20 revoke at any time.
That is to- say routes expiring January
J. 1900. are from Rockets and Main streets
down Rockets TO Fulton and back; Main
street. from Reservoir to corporate
limits. and the Hollywood extension from
Laurel to Main street
THE city is not required to give any
notice before the expiration OF any OF
these franchises. The Council is allowed
one year from the expiration i'm which tc
give notice TO the company as TO what il
desires TO Doe done during that year. The
Council may, az it's option, extend the
franchise, or may refuse 10 90 so. II II
determines 10 extend IL must specify fol
what length Of time and ON what terms
II the Council refuses am extension, or il
81 and the company cannot agree on
terms the Council has obligated itsel
80 take the railways and fixtures Of tn,
cornpanv within this city. and the lots
and buildings and appurtenanCes, at
valuation To- be reached by appraisemen
or valuation in the usual way. no allow
ance To- be made in this valuation 10
Franchise rights. the property TO be taKe
81 Dos actual value.
AUTHORITY OF PRESENT COUNCIL
'It Will be seem" says Mr.. Meredith
"fror, the above section Qn reference Z
trc disnosal of the franchise) that IN
present Council 0he term OF which eN
pircd 1898 has not the power TO dlspos
of said routes without the consent VI san
company so as 20 prevent tnat Couhc
which shall be elected in 1898 from gram
ing 20 the said company the routes "hlc
should expire on the first daYof Jahut'Il
1870 nor TO prevent that Councll WhiV
shall he elected July. 1900 from regran'
ing to the said company the routes Whc
shall expire on the 3lst day or Decei"D'
1890"
From the foregoing Il will be seen tha
while the present Council may dispose {
the wings OF the main routes IL cahh'
dispose or lut hoiH- "''" - A,
franchises without the consent OF III
company.
THE OLD COMPANY'S INVESTMENT
Mr. George T. Fisher. for himself an
associates. purchased the interest OF N
Union Passenger and city railways IS
$4,000 He rebuilt both lines and reoi
ganized the electric-light company at
cost Of $4,000 IN addition. he pu
chased the Richmond and Manehest'
Railway Company guaranteeing TO tah
up 10000 worth Of their bonds IN
branch lines such as those running IdaS ~
seven pines and Lakeside, cost &DW
and floating debt Of $4,000 brings u
total invested by this syndicate 70 son
s22J0.O0 The company employs DetWe'
$50 and 700 men, though this number ~
heep snmeMhat reduced OF late. oecau