The times. [volume] (Richmond, Va.) 1890-1903, 1902-12-30
Allows The Times to Confirm
The Reports.
DEAL PRACTICALLY MADE
His Representative is Here 10
Take Charge.
FISHER MEN TO RETIRE
The Purchase Involves All the valuab'>
Properties of the Virginia Passen-
ger and power Company in fich-
mono, Manchester AID Peters,
hsrg-The Directors to Meet
Early in January.

1,31i,-,onds 5 street railway system ana
nm tnc properues Of the Virginia Pas
.snpa, and power Company are now con-
,ro,ea nv Mir. Frank Jay Gould, OF New
YORK MIR. Goutd, when seen by The
,r,,nes, Sow York correspondent yester-
day afternoon authorized him TO con-
FIRM the recent report OF his purchase OF
t,,e controlling interest in the Virginia
7,--senser and power Company and to
..+afs further mat All prelllalniit nesotia
4ians bad nsen cunCllced and Inc os'li
,7ractiCallg closed ,,1-,
,5he yOung mnilonaire sald. =. Is oLiS @
matter OF a few hours ull1n Inc Pah-
aes shal have been mace ana on 10
morrow the mai papers OF Iiie a ''i'''-'-
tion VIII be ready.
qT,is statement from Mr.. Gould con
+,.7,,- moi only the recent reports OF the
,lend:nE transacaon published py Inc
THINGS, but 1ulnlIs its predicaoh as ~
The intimate ownership OF inc va s-'it1
Passenter and Power Company P!op-
,...1les made at the time the loCal liileS
t-srt consolidated under Mr.. tlsheT
.,nnt;n.. Gnat MI. GouId has had latge
ll.,f.,.sss, In Ricnmonl railways Tor years
i,1d has an that t5me had his eye on
1, ,i,,inls control Of tins property mas peeh
"a seclt.,. aud nat,Erally has acqulsl'lon
lsf the ltncs at this tame comes hot ds =
surprise 10 chose who haze been lalill5i@t ,.1l
,-itf the situation here during the iaSt
few ycars. -,..,-,-,,c,
,,,,,.- ,55r+5,,,-j,;sd i1ltement gives runlor
-, +f,a nnudirz deal rest, but sets aloot
MANY new reports and Nar!lhg sk1eSDia- kN
ttan as TO the effect OF the Gould con
ttol upon the local management ana 40
Tossible retirement Of ofhclats VINO nave
am haen identified with the company
unGer the old control
Tbe presence OF Mr. William NorlhfbPr
of New York, air. Gould's representa-
me IN Richmond, on yesterday, gave rise
i, rho renori which is generally oeheVed'
+haf. he had come to succeed MI L. y.
:sosncer as secretary and treasurer Oh
the npaitT.
AR Spencer has been Mr.. George Z.
T7isber's right hand man in Richmond iGr
wears. and his retirement would remove
the last evidence OF the tisler tla'i@ss-
r77rt of Richmond street railways. Alr
Nortbro, arrived in the city Sunday
morning, accompanying Mr.. Fritz Sitter
ii,,r, president Of the Virginia Passenger
aud Power Company, D. dr Miles NJ
Martin, the conpany's counsel, upon tiielL
return from New York. where they had
q1een for several days in conference with
Dir. Gould.
YESTERDAY the New Yorker spent look
Sag over the company's lines, meeting
eronloves and officials, and in general
way learning something Of the properties,
n is said he is soon TO assume control 81
80 Afr. Gould's representative. He IS
,5topping at the Jefferson. and when call
ed upcn there by Times reporter last
night he asked TO be excused, sending
word he had retired.
Mr.. SpencerS retirement seems GER
tain. but as TO other changes, nothing
is a,iven out at this time with any sem
hlance of authority. However, q meeting
OF the directors of the company VIII be
,,eid here either January 5th or 9Th,
and at that time q statement given
out bv Mr.. Gould Will indicate the fu-
ture policy. and possibly declare com
15lete reorganization of the company.
In business circles Mr.. Gould is a wei
coined l.oider of large Richmond proper
ties. and under his control and operations
Il is believed The city viii not only be
given n mosL excellent car service, bu;
that in many other ways his interest here
VIII be felt and seen in the Improvement
and promotion of his various Enterprises,
which are vital parts OF the community s
3lfc.
The purchase gives him control Of the
SsisN SLtGGL car iis4rS- LIlc S!ss . fS'@.
plants, much wafer rights on James
1 River ana various other valuable proper
lies very closely touching Richmond's
interest
ii is not generally believed that there
will be many changes in The personnel
OF the men at the head Of the company's
affairs here. President Fritz Sitterding
viii pronahly remain in his present posi-
ton. and it Is not likely that Manager
HUFF Will be disturbed in his connection
with the system.
PROPERTIES CONTROLLED
The properties controlled by the Virginia
Passenger and Power Company are va
1ied. and the detail WORK OF getting the
books OF the various companies IN order
and making preparations tor the ,ransf r
have occupied the minds of the men con-
rected with the deal fer MANY weetis
Tho properties controlled by the virgiuI;.
Passenger and Power Company include
seventy miles of railway IN Richrao q
md Manchester. an electric lighting and
,,owcr plant q Development company,
owning wafer rights on the James River;
the Upper Appoma;toN Company, owning
wsiter rights, land and navigation ca.
nal for fifty miles on the AppomattoS
River above Petersburg and the Rich
raond and pe.eispurS Railway, line or
twenty-one miles. connecting the cites of
Richmond. Manchester ana Petersburg.
I,iae consolidation embraces one hundred
and twenty miles OF track and cwrs real
/ estate in three cities. including park pru-
/ 4,.,.tles valued at Sl.eao.ouu
THE YOUNG MILLIONAIRE.
| Prank j. Gould is rapidly coming TO
the foreground among the youns mn
/ Isonaires of the day actively engaged IN
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