Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-07-22
BUY THE FRANCHISE.
RICHMOND RAILWAY AND ELEC-
TRIO COMPANY WILL SELL OUT.
CsPTAIN PiZZINI WANTS
BUY
lie Represents Large Local Capital,
and says NJ lie ~ Able to Close His
movements VIII lie Made.

"Thoro IS not the slightest doubt that
within Che next week OF ten days the
Interests OF the Richmond Railway and
Electric Company in this city will be pur-
-aascd outright" The above statement
was made by Captain Andrew Pizzni. Jr.,
30 q Dispatch reporter yesterday. Cap
f.a pizz.ui has just returned from New
York. where ne has been undergoing
medical treatment and within the last
tlw days he has had several interviews
with SIR. George T.. Fisher. as the repre-
sentative OF a very wealthy syndicate.
Gr.s syndicate. he says IS composed al
t.e.tror of local capitalists-bankers and
rrchants-whose names arc withheld at
fs tmo for obvious reasons. This syn
'e ISL one of many ont for the fran
and while 10 may not be the
STRONGEST from q financial point Of view.
. . believed that it's chances of success
OH. by no means remote. AIR. Pizzni's
..r visit TO Mr. Fisher was brought
about by the publication In the Dispatch
OIL. n announcement that the Railway
Cation is in the field for the Rich
r.- railways The negotiations between
. rzzini and Mr.. Fisher have been
-inc for some time. and ho went AT
on. t1 the Office of the Richmond Rail-
-. and Electric Company 20 protect the
.r.-ts OF the syndicate ho represents.
found that an answer had been pro-
-.f 10 the representative OF the Rail-
..r Association that very Gay. He also
.vCrcl that Sir. Martin. ~ the firm
c Martin q Ainsie, the representatives,
tnr H0vd-Newton syndicate. Mr. Jonn
shelton Williams. representing the kich-
uord Traction Company, as well ms rep
Iescotativcs OF syndicatcs boz Philadeiphia
and Washington and another gentleman,
whose identity was not made known were
on the spot with the same object ln Wow.
THE PRICE IS Up.
The race for tho franchise has, OF
course. sent the price mp with a jump
for the company has av0wed az last ils
WILLINGNESS TO soI The representative
capital of the old company is about So
C0a0. of which 100000 is the bonded
debt. ~ has been impossible TO ascertain
the different offers made by the syndi-
cates but Captain PiZzini said that the
oner bee was authorized 20 make protect
cd tho interests OF bOndholders and
stockholders. and this fact led 10 the
postu0nemont of Mr. Fishers answer 70
the Railway Association.
IMPROVE THE ROAD.
il this local syndicate secures tho pro-
perty. said Mr.. Pizzni. it will be pre-
pared to spend 100000 on the equip
mont IL has q plan under consideration
for the reconstruction Of the various
roads. not along the old lines. but in
manner that will. ne thinks be eminent
lv satisfactory 20 the people of Rich
mond. and will enable the company 10
oneratc the system at a much smaller
cost than NJ the present time. Whoever
may secure the franchises Of the old
company. one thing is certain, that the
.s VIII be made within the next few
l..s and the old stockholders will DE in
DID, way concerned with the new regime.
r purchase price is to include all real
...s owned by the present company,
.. ,uipment of every sort. Mr. Fisher
rtuy weary Of the management
and the bondholders and stockholders
.r. c'lmorous for a sale, which far sur
asses their most sanguine expectations