Waterbury Democrat., 1901-08-23
CAPITAL MAY BE xx5U, ,oOO.OO0.
Bridgeport Named as the Headquarters of the Gigantic Enterprise.


 of the Gigantic Enterprise. Bridgeport, Aug 23.-It is stated
 that the Elkins- Whitney syndicate or 1 New York are back of the promoters 1 of the corporation, having capital of | $5,OO0,00O, with power to increase 1t to 5O,OOO coo, which obtained charter l from the last general assembly. The l headquarters of the corporation are i'll 1 Bridgeport. The corporation IS
 known as the International Power company. 1t has unlimited possibili- ties and 1t is said the most liberal franchise ever granted in the state Of Connecticut. 1t is required to pay an annual franchise tax of II per cent. of the market value of it's capital stock owned in this state. It is fur i ther required to make all annual state ment to the banking commissioners of the state of its resources and it's lia l bilities
 l It is said here that there. are great influences behind the enterprise The fact that it intends to do most of it's business outside of Connecticut is l indicated in it's charter.
 The men named as incorporators are l. VI Il
 residences of some of them are not known. One of them, W. $. Downs of Derby, is q relative by marriage of Attorney Allan W. Paige of this city, l counsel for the United Gas Improve ment company of Philadelphia and the | Connecticut Railway and Lighting
 company. The others are E. F. Hard ! ing, D. B. Giddins and w $. Downs. | A Y1 q -xf
 or the charter and the great breadth
 of the enterprise is indicated ill the
 second section of the charter, which 1 is as follows:
 l To transmit the business of mer- 1 chants, manufacturers. miners, com
 mission merchants, agents of any kind, l shippers, builders, financiers brokers l and contractors and concessionnaires
 i'll all the forms of any said kinds of
 business; to engage in the general
 banking and trust business; to receive
 deposits of money; to buy and sell ex- | change coin and bullion; to buy and l sell, make. and issue discount, nego- tiate and indorse promissory notes,
 drafts, bills and bills of exchange, de- l bentures, bonds, obligations or other evidences of debt, and other negotia- 1 ble or transferable instruments; to loan money on real, personal or other secur- I ity; to act as fiscal or transfer agent
 or registrar of stocks or bonds of any
 state, municipal body polite or corpo-
 rate, or association; to act as trustee under any bond or mortgage, and to
 act as guardian, administrator, ex-
 ecutor, receiver. committed, conserva- tor or trustee of any estate, person, firm or corporation, public or private, I foreign or domestic. and to undertake any other trust or duty or agency l whatsoever; to purchase and sell stocks, bonds or other obligation of any l municipal bodies, polite or corporate, and to guarantee the payment thereof, l to engage in a general safe deposit
 and storage business with all the pow CTS incident to any of said kinds of business; to construct public or pri- l yate works outside of the state of Con l necticut and to operate the same; to dohstrdct, purchase. charter or sell yes- l seIs, and to iengage fn the business of l transportation by rail and by water outside of the state of Connecticut and to carry on an express-forwarding bus mess outside of the state of Connecti- cut, tO Uuy, uOlu, SCH, IedSe, TGIlL duu
 improve rail and personal property and to mortgage and pledge the same; to 1 undertake and execute any kind of con- 1 tract and to transact and engage in l any other lawful business whatsoever; 1 to establish branches in any part or parts of the world; to acquire the good I will, rights and property of any per son. firm, association or corportion I and to pay for the same in cash, in the l stock of this corporation or bonds, or l otherwise to assume the undertakings I and liabilities of any person, firm, asso- | citation or corporation, and to have any
 and every power and possess any and l every right, privilege necessary to the l full and perfect performance of all or
 an yof the foregoing objects the same as if such rights, powers and priv I ileges were herein fully set forth"