The times. [volume] (Richmond, Va.) 1890-1903, 1900-04-20
Several Amendments Were Offered
but Were Defeated,
CHARGES OF FAVoRlTISM MADE
nir. Caskie Bitterly Opposed any Lcni-
ency Being Shown. and City Attor-
ney Pollard Thought the Rights
Granted Forfe ited-Mr.
BioombcrS's Resolution
4 Il doptc I'd.

The City Council last night granted the
Richmond Passenger and Power Company
an extension OF time TO collect the bonds
OF the .-old company still out The resp
luton to this effect, offered by Mr.
Bloomberg. was adopted by vote of %
! 10 4. and amendments were defeated.
The petition of the Richmond Passenger
and Power Company was read. in which
the petitioners stated that they had COM
/ piled with ali the provisions of the ordi-
Rsance and its conditions with one excep-
t1ion, that of getting in all of the bonds.
and asked that an extension of three
months time ibe granted in which to
gather in the bonds Of tae ed coFloanics
now ONT.
The petition stated that all of the bond-
holders of the Manchester Railwa! ana
Improvement Company and Of the seven
Pines Railroad Company nave agreed TO
surrender the bonds as soan as The ] 8
, ;1ers can be prepared. and the moraGaSes
aipsn these properties viii DC released
and discharged. Agreements have been
entered INTO with the bondhoiierS Of m IRE
than sl,5e3,!1O Of the total Issue 'e 81 .ccJ
of the Richmond Ia tiiway and Electro
Company, AMI with the holders OF large
sblock of bolis .,t the EicDr,c1d am. Elan
chester Railway and Electric Company,
whereby their bonds will be purchased
by and transferred TO the new company.
FRANCHISES SURRENDERED.
A number of franchises Were handed
Clerk August, which surrender all the
franchises of the oid-line companies
Along with these franchises a communi-
cation was submitted from the Richmond
Passenger and Power Company, asking
for an extension of three months in order
10 pay and gather in the bonds now out
standing Of the old companies. The COM
munication stated that the new company
had taken charge of the old companies
lines and was now actually operating
them.
A letter was then read from City Attor-
ney H. r.. Pollard, stating that the sur
renders Were not acceptable 10 him.
The following letter from Messrs. Mar
tin & Ainslie was also read:
HAVE SIGNED AGREEMENT
April Il, 1900.
Hon. Henry X Pollard. City Attorney:
Dear Sir-Since writing the letter of
even date herewith to the Hon. b. T.
August, city clerk, which we are inform
ed was referred TO you along with the
surrenders of the franchises filed with
him at the same time we have ascer-
Iained that majority of the bondholders
of the Richmond Railway and Electric
Company have verbally agreed to turn
over the bonds upon terms satisfactory
TO themselves and the Richmond Passen-
ger and Power Company. All of them
fave not signed the agreement. but
number of them have, and 1ile English
tlolders have cabled their agreement and
their readiness TO sign the papers as soon
as They are presented to them.
All of the holders of the Seven Pines
Bonds have agreed TO sign the papers at
once.
All of the holders of the Manchester
and Improvement Companys bonds have
signed the agreement.
The members of the syndicate which is
10 finance the Richmond Passenger and
Power Company are men of large wealth,
standing. responsibility and responsibility
in New York, and are connected with
come of the greatest banks and trust
companies there<
Their names will he given TO the City
Attorney at any time he requests them
TO show our bona fldes
Very respectfully yours
MARTIN & AINSLIE.
Counsel for r. ?. & 2. co.
Mr.. Bloonberg offered an ordinance
which was as follows:
Il Be II ordained by the Council of the
city of Richmond, That sub-sections and
3 of section 9 Of an ordinance entitled An
ordinance TO authorize the construction
and operation of a street railway within
the limits of the city of Richmond by. HI.
Richmond Passenger and Power CDmila-
NY approved December sd. 1899. he
amended and reordained SO as to read as
follows:
80 That the said Richmond Passenger
and Power Company shall. within one
hundred and twenty days after the filing
OF its acceptance of the provisions of this
ordinance, file with the City Clerk a trans
no tia ,,of
from the proper owner or owners of the
said company, 3 proper surrender 10 the
city of all the rights, privileges. and fran
chises of all the street railway companies
now holding or operating lines and routes
along-tea streets of this city. other than
those chartered to the Richmond Traction
Company.
..2 That IL. at the expiration of the
ninety days from the acceptance of this
ordinance. the said Richmond Passenger
and Power Company shall have failed to
accept the same. or if. at the expiration
of the said one hundred and twenty days
in which the said company is aiiowei TO
file the assignment OF the rights. plivi-
legas. and franchises aoT belonging 30
and exercised by other street railway
companies on the streets of this city
ulong which the said Richmond Passen-
ger and Power Company proposes to run
its lines of street railway under this or
dinance then. and in that case. the said
bond or honds aggregating the sum of
seAoso. required to be flied by section 3 of
this ordinance. shall be forfeited to and
become the absolute property of the city
of Richmond"
MR.. CASKIES SPEECH
Mr. Casl1s said that de voted for the
ordinance granting the franchise to the
new company but that If he had known
what he knew now. he would not have
voted for IT. He stated that others favor
ing II m1de him agree to the passage Of
m ordinance which he did not consider
proper He thought the city Of Richmond
rfcs.d certainty set larger amount OF