The times. [volume] (Richmond, Va.) 1890-1903, 1900-07-20
Councilmen VIII Examine the Com
pany's Affairs There.
TO | IMPR OV ETHE CITY JAIL.
Committee on Grounds and Buildings
Appropriatcs the Sum ofITorty-Five
Dollars to Repair Prison-NIusic
in the Park@Kceper Para
ter TXoner ra ed of
Charges*Preferred

More time has been granted the Rich
mond Passenger ana Power Company to
get in the outstanding bonds of the old
companies. Five members of the City
Council are to visit New York, at the ex-
pense of the company, and examine the
stock and bonds at*the office of the Mer-
chants Trust Company in that city.
The special meeting Of the Common
Council was called TO order last night at
1880 o'clock by President Ebel to consider
the companys petition.
Mr. IIbel presented the petition, which
sets forth that the petitioner has complied
with many of the requirements of the Or
dinances 1t is represented that in order to
comply with the provisions Of the ordi-
nance all the stock}sand bonds OF the tol-
lowing companies beobtained:
COMPANIES OWNED.
Richmond Railway and Electric Com
pany stock, $2,O10.p0O; Richmond Rail-
way and Electric Company bonds, $2,coo,-
600: Seven Pines Railway Company stock,
SIS, 400; Seven Pines Railway Company
bonds. $l5O.0O0 Manchester Railway and
Improvement Company stock, SfSV}o;
Manchester Railway and lmnroyement
Company bonds, Sl1,060; Richmond ana
Manchester lNlliNd.'t N~piilE'S'NS "''N1iA'
100000; Richmond AMI Manchester Rail
way Company bonds. $iOO,CNo; Fairmount
Traction Company stock, 5000; RlFer-
view Railway Company stock, $i,000.
The company now owns all of the stock
and 81 SEQ, coo of the bonds of the Rich
mond Railway and Electric Company;
all of the stock ana all of the bonds OF
the Seven Pines Railway Company; all
of the stock and ali OF the bonds OF the
J,,,rDr
Company; all of the stock and all of the
bonds of the Richmond and Manchester
Railway Company sisve one, and all of the
stock Of tha Fs4Ir4>4I f3 = --.es,i1n Company
and the Riverview Railway Company, the
latter two companies having no bonded
Indebtedness.
The petitioner further represents that the
owners and holders of 100000 additiOnat
of the bonds of the Richmond Railway
and Electric Company nave signifed their
willingness and intention to dispose OF
their bonds to the petitioner as soon as a
delivery of the bonds can be made SO that
there are now outstanding practically only
SlO0.GG0 of the entire bonded Indebtedness
of So GGG coo of the Richmond Railway and
Electri 'ompany's system, and no stock
whatev,..
DEPOSITED IN NEW YORK.
The petitioner says that all of the securi-
ties, so far obtained are now deposited with
the Merchants Trust Company New York
city, as the property of the company.
RESOLUTION ADOPTED.
Mr.. Gibson offered a. resolution. which
was adopted appointing three members OF
the Common Council and two members
of the Board of Aldermen as committee
to so to New York and examine at the
office of the Merchants Trust Company
the stock and bonds of the companies com-
posing the Richmond Railway and Electric
Company's system, claimed to be deposited
there by the Richmond Passenger and
Power Company, and to report recommen-
dations as to the surrender of the franchises
of the Richmond Railway and ELECTRIC
Company and its allied and subordinate
lines
The City Attorney and the presidents of
both branches Of the City Council are re-
ouested to accompany the committee TO
| New York and that the committee report
within two weeks.
This committee goes to New York at the
| renuest and expense Of the Richmond Pas
/~o,+;,rnd IN Fifth paCe)