Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-06-08
Reported Sale of Its Properties
and Franchises.
q. LANCASTER WILLIAMS
Tho President of the Norfolk street
"nd Ocean View Electric Railways
snid to he the Purchnscr-Prenr
dent Wright, of Electric Company,
snys Paper. VIII Probably Ra
Passed This Week,

Last night the report reached the
Virginian-Pllot that during yesterday
the Virginia Electric Company had been
sold to Mr.. r. Lancaster Williams, rep
reserting q company of prominent cap
italists at the rate of $50 per share.
VICE SEEN.
An effort was at once made to verify
the report and 4 representative OF this
paper proeeedea-to-the residenCe of
Mr.. George Chamberlain, treasurer OF
the company, No. 1873 Duke street. Mr..
Chamberlaine had retired, but in an
swer to request for information. de-
clined to talk and referred the inquirer
to President Peter Wright, who is stop
ping for a few days at the Monticello
Hotel. Is
MIR. WRIGHT SPEAKS.
Mr.. Wright had also retired for the
night and as the hour was late, was
averse to giving much lime to :he in
terviewer. On being asked IL the pa
pers closing the sale Of the Virginia
Electric Company had passed during
the day. he said they had not.
On being further questioned he adj
mitted that the deal was practically
closed and that the papers would prob
ably be passed this week.
"a VALUABLE PROPERTY.
The plant of the Virginia Electric
Company is valuable one. and is
composed of the consolidated plants o.
Electric Company of Virginia and The
electric plant of the City Gas Co This
consolidation was effected in April. 1898
and the new organization stocked by
prominent New York capitalists in con-
Junction with Norfolk capitalists. II Ia
understood that the properly has heen
PAVING handsomely on The investment.
II has been improved and put into first
CLASS shape by the installation of new
nacL merry and Is now considered one
of the finest electrical concerns OF tha
State ."'
DiiiSent search was made for Mr..
WEliams at late hour lost light but
1t could not be learned that he was in
the city. 1t is stated, howe YER that Mr..
Williams is the purchaser, and IL such
Is the case. the deal was probably ar
ranged during his visit mere a few days
ago and the details perfected by his
Norfolk representatives.
~ CONFIRMATION.
~ 2;So o'clock this morning the fol-
lowing was received from Mr.. Wright.
The Virginia Electric Company has
been sold to n syndicate OF Richmond
anc baltimore capitalists, headed bv
Mr.. II. Lancaster Williams. The price
is over 100000. The present plant viii
De ENLARGED and improved and Willie
used TO furnish power for the Norfolk
Street Railroad, the Ocean View Rail-
road and the present electric lighting
business. This latter has been develop
ed greatly during the last year, and ia
sun growing. This has necessitatef3
great improvement in the Virginia
ioiectric Company's plant. which has
been greatly improved also during tbs
same period. The stations at Hunters.
vile and West Point will be shut down.
Inc present officers of the Virginia
Electric Company are: Peter Wright
Newark, n: j.. president: w. w. cham
neriaihe; Norfoik. Va. vice-presldent:
w. II. White, Norfolk, Va. generai
counsel; w. l.. Guillandeu and w. w.
Randolph n. Y. directors.
me actual transfer will be made In
New York at the end OF this week.