BoletiÌn mercantil de Puerto Rico. (San Juan, P.R.) 18??-1918, 1902-04-03
For An Electric
R0lVat To Ponce.
FROM CATANO TO
PONCE VIA COMERIO
To Immediately Utilize The
Water Of The Rio de la Plata
An Offer To Post A Forfeit
Of $4,000 Or More
Guarantee To Start Work
Within Sixty Days.

The hearing this afternoon of an ap-
plication for a ferry franchise across
the harbor of San Juan, has made
public vast plan to construct rail-
way operated by electricity from Ca
tafio to Ponce via Comerfo; to build a
plant at Comerio which will employ a
large number of men, and to furnish
electric light to all the villages along
the line of the proposed railway.
Some months ago Mr.. Maurice D.
Beneway and Walter NJ. Yeager re-
pr, senting E. E. Sinathers and Co,
bankers of 81 Broadway, New York,
and J. c. Shaffar a Pittsburg railroad
magnate, arrived here and quietly
looked over the situation. A trip was
made to Conerio and the present status
of affairs was looked into. The capi-
talists who sent Messrs Beneway and
Yeager to Porto Rico. were consulted
by Mr.. Yeager who made hurried
trip to New York, and returned here
some weeks ago 1t was decided to
make application for a franchise to
build an electric railway from Cataflo
to Comerio- and thence to Ponce, to
construct lighting plant and to run a
line of ferries across the harbor of San
Juan.
The application for the railway fran
chise comes on for hearing on the 9th
OF the present month, and the applica,
ton for franchise to use the cataract
in the Rio de la Plata will be made on
Friday of the present week.
Both Messrs Sfnathers and Shaffer
are expected to arrive here on the
Caracas on the 10th of the pres snt
month, and a large sum of money will
be placed on deposit with local bank
for the purpose of being enabled there
by to show the good faith of the enter
prise.
AT present the franchise 10 use the
water of the Rio de Ia Plata is in the
hands of Ramon Valdez of the Valdez
Company. This franchise has been
tied ups for about a year, and as
yet nothing has been done. Origi
naIy Mr.. Valdez agreed to construct
works at Comerio This he has failed
to do, and has made many effors ii
the states, to obtain the necessary
capital for engaging in his protected
enterprise, but without success. The
promoters of the present scheme Of
fer to deposit with the Treas
urer of Porto Rico any sum in cash
which the Insular authorities may name
as deposit for their good faith, and
will forfeit the same to the government
in the event of their failure TO. begin
work within sixty days afterdhe grant
ing of the franchise 10 use the waters
of the Rio de Ia Plata.
If the ferry franchise which comes
up today is granted boat will be
put into immediate use as ferry
across the bay, Two ferry boats on
the plan of those in use in the waters
about New York city are now in course
of construction at -Newburg, New
York, and are expected to arrive here
within thirty days The ferry will be
run both day and night, and when the
line is in full operation a boat will be
run at least every half hours
The creates: barrier TO the carrying
out of this important plan for develop
ing The resources Of the island is the
holding of the wafer franchise by the
Valdez people without any attempts
having been made to construct a plant
Or to do any actual work for the attain
ment of the object originally mentioned
in the Valdez franchise. The promo
ters of the electric railway propose to
obtain this franchise if possible and will
deposit any sum mentioned as an eyi-
dence of good faith and as a guarantee
that work will be begun within sixty
days.
1t certsin1y appears that this plan IS
ofvas+ importance to the island, and if
the good 1aish of the promoters can be
established the Executive Council
should cause no delay in putting the
matter into actual existence.