Daily press. [volume] (Newport News, Va.) 1896-current, 1899-07-26
Rumored Attempt to Consoli.
date Two Electric Railways.
TRANSACTION Is CONSIDERED
Au,horltativelyS Stated That an Offer r,a.
Been NIsd. an.l a Counter Prorost-
ton snbn lit ii. Colossal Com
biua'ton Contemplated.

SAu combinations Thc fact is as vel,
known in Newport News as elsewhere.
SoS ,his city has had suinc experience
In that line already, and if ru1nor b..
tue, Is likely to have considerably
Ifole before the end OF the century.
~ IS understood on excellent autho:-
ats that Alexander Brown & son If
B"it!norc, who noatcd the bonds for
s"c Newport News and Old Point Rail
way aud Electric Company, and, in.
"cu. nWh most of those bonds have
n'an" ai' offer for the property ana
s1;uShiscs of the Peninsula Hlilwa
S"mrany. which has been, up to within
The last few days engaged in the con
stfCctlon OF system including lines
over some of the principal streets ana
AVENUES of this city and Hampton, Wit,
connecting line between the two
places
IEis work was being pushed rapidly.
put was stopped during the latter part
O! last week for reasons not stated
u is understood, also On good au-
tit rity, that the Peninsula Railway
Nti:panN made to -tlcNandc- Brown s;
son counter proposition. laininE
pretty stiff figure, which the ;inanccrs
1.,W nave under consideration.
n" amount Of the considcra ton nam
et ana what the Baltimore men think
about it. are matters which arc ..uuIrr
the official hat"
VI course. should the men WHO ,rar.
Utaiiy own the Newport News; ard OH
PGint Railway and Electric Conlpany'.
system purchase the Peninsula Cumpa.
ny franchises.it would mean /, virtual
and practical combination Of the Nv,
systems. for in the nature II thiEl.s
competition would not be maintained
such uOlicV wOll1i IL, hath c,,;.,;.,.,,
anI undrsamcd OF. If the deaf shuull
- INTO effect. the two Syslcms would
Dc consolidated, nor is there reason to
pe.leNc mat the second line to IIalll;;-
tol would he built-c"rtainly not in 1h,.
immediate future
Ii has been said. and is .-c,.erally be-
ileNed in railroad and financial circles
lha' the Browns arc after the line *
teE-lnE from Wi.uuShby Spit To Nor.
ic!k Low TOR negotiations have pro
dressed in that direction, or ;h. llall,r..
o. those negotiations, is not known.
4 has for Il long time been the dream
or capital to have belt line Of rua,l
I'd water extending from 'N,wuort
News; to Old Point thence to Willough
ny spit. Ocean View, Norfolk. pi:, poia.
an! across the river back 10 Ncwpo-
M WIS. 1t is believed that tile plan If
~, Baltimore firm cc!nurc.lcntls 1hi..
sc,eme
1t has been intimated that the sa,,,.
capital that is behind the Norfolk ana
OCEAN View system is also behind thai,
o the Newport News ana Ola Poin;
Hallway and Electric Company. l..
this is the case. the belt route theory
ought to be 4 very easy one to M
into practice.
AS to the Peninsula Railway Comps
10 l..-
providing they are bid high enough, fo..
they have probably sunk about 5000
worth of iron and Labor in the ground
SO far in the beginning of Ike constitute
tloi Of their system. The material 70:
tine power plant has also bcs,,
bought. and this would probably III
crease the property value Of III" core
pany ia $l30o00. Then rolling stock h-.:
beer orc -. also iron and tics not y;.t
planted, bringing the amount up IL :.
considerably larger figure pcr>i,nys On
top of this must be placed tn" value .,f
the company's franchises That val:l..
IS largely u matter of circumstance +,
ts to be computed to Il large cxter:
upon the future and upon the desires Of
the would be purchasers. 1t IS Il ,luc,:-
ton Of how much these franchises ar:.
worth To i particular purchaser 1t IS
be worth more to the owners Of tie
other railroad. even Though unused
than any other parties. There are. in
deed. many complicated considerations
Involved
Should the deal he consum.natcu Mr.
w. j. Payne. who is now at the hca,
Of the Newport News AMI Old Poi.,;
Railway and Electric company. tn"
Newport News Gas Company. ard ,np
Peninsula Electric Light ana I'owe,,
Company Will also find himself at tie
read OF the amalgamatcd street rail
way and electric railroad sy::cnl
1t will be remembered that when the
franchises We're granted the Peninsula
Railway Company it was agreed hy
the latter that there should be no sal..
by them to the other company before.
the road as contemplated in the fran
cf.ses vas constructed. This provis-
ion, of course. refers only To the lirc
within the city limits. This would b,
built in any event; but even # it were
not. il there is any way to prevent t:c
company from issuing bonds and sell
ing them to Who1nsoever it may please.
that way has yet to be discovered
These operations have the merit Of
being daring and colossal. There may
be other merit that will develop late.
In the meantime. the citizens and the
city authorities arc looking on in Il
dazed sort Of fashion hoping that they
will not get lost in the shuttle
Making Preparations.