The times. [volume] (Richmond, Va.) 1890-1903, 1901-12-31
Richmond and Petersburg Line May
be Absorbed.
'ETERsBURG DICTATED TERMS.
A New Board Of Directors Elected Which
Contain representatives. from the Roads
In Both Cities, as Well as the
Liue from Richmond to Peters,
burg Consolidation Said
to Mean a Great Deal.
Especial Dispatch to The Times.)

PETERSBURG, Va, Dec. 3o.-The Pas
senger and Power Company, of Richmond,
and the Southside Railway and Develop
ment Company, of Petersburg, have con-
solidated. and the two roads now are
owned by the Virginia Passenger ana
Power Company. About ten days ago
the Passenger, and Power COMPANY, of
Richmond, passed into the hands of the
Virginia Internal Improvement Company,
of Petersburg which. was chartered by
the last extra session of the Legislature
and by its sweeping charter can build or
buy railroads Of all kinds.
This step was taken for the purpose of
the further consolidation which was con-
summated in Petersburg this evening"
when the street railways of.the two cities
merged into the Virginia Passenger. and
Power Company.
DICTATED TERMS. 5Sl5
I The first proposition was to merge the
Richmond and Petersburg Electric Ram
way with the Southside Railway and De-
velopment Company. but to this the lat
ter company objected, and beingE,in a,
position dictated the terms of consolda-i
tion Under the agreement Of the COM
panies all the rights, franchises and
property of each of the two constituent
companies pass to the Virginia Passenger
and Power Company, whose capital is
So. 100000.
The hew company elected a Board of
Directors, and they are: Fritz Sitterding,
president. and Louis Z. Spencer, former
ly of the Richmond Passenger and Power
Company. secretary; Carter r. Bishop
and Augustus Wright formerly Of the
South Side Railway. and Development
Company, and Frederick G. Freese,. of the
RicIm mud and Petersburg SEiectrtcz Rail-
way Company.
PLANS OF TIE COMPANY.
The new company will carry out the
plans of the Southside Railway and De-
velopment Company in developing the
water power at the locks In Petersburg
and making further Improvements in This
city.
What the future of the Richmond and
Petersburg Electric Railway, the new
line now nearly completed :etween the
two cities. will be cannot be ascertaiped.
None of the officials will talk when the
matter is mentioned.
It would seem, however, that this road
will consolidate with the new company.
for the election of one of its officials on
the Board of Directors shows at least
friendly relations, and if looked at care
fully might reveal more.
FURTHER CONSOLIDATION.
It can hardly be doubted that before
many days pass the three roads will have
been merged into one.
Mr.. Tuttle. of New York, counsel for
the Merchants Trust Company; Miles
NJ. Martin, of Richmond, and the Board
of Directors of the former Petersburg
Company were present at the meeting
held this evening in the offices of the
former Southside Railway and Develop
ment Company.
The principal office of the consoli-
dated comuany will be in Petersburg
The authorized capital stock of the
consolidated company al first shall be
s3000,00O. divided into $4,000 shares of the
par value of 500, and it may be in
creased from time to time