The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-11-29
Millionaire Acquires Con-
trolling Interest in Old
Dominion Plant.
ENLARGE WORKS:
INCREASE OUTPUT ii
Much of the Manufactured Pros
duct Can be Used BY Mr. Il
Gould's Street Railways.
Plant Was Established 4
Many Years Before
the War. III

il
h The widely known and valuable plaua
Of the Old Dominion Iron and Nall Works. 4
In successful operation for nearly cen-s /,
tury. Is about to change hands again. R
A majority OF the stock Of the corpora
tlon owning and operating the plant has
Just been purchased by Mr.. Frank -
Gould, millionaire son OF tho late jay
Gould, and a man extensively interested \
In the operation OF trolley lines and ran-S y
ways In and near this city and at othe1E
points. While no official announcement
Of the sale has been made. IT is undsr-ss
stood that Mr.. Could has succeeded IN Il
purchasing tho ma 1ority OF the stock OF
the corporation, and IS endeavoring to So
cure the scattered shares. There ls no
doubt that he has become the ownor Of o.
controlling interest in the great manu-
featuring plant, which for so many years
has been "a prominent factor in ths In
dustrlal life OF the city. .5itSSs5
Mr. Gould himself Ia expected In thA$
city iii u few days, and It Is probableS
that official announcement will them - (
made Of the purchase. Tho purchase price
OF the stock Is known to the sellers. oE
course. but has OF been diVulEed, and
Will not bei isunt II the citations have
been contaminated. The purchase was
Williams & Sons were the principal stocks
holders, they having bought the plant less
than two years ago from the company
that for many years prior to- that tfm4
owned and successfully operated IT. ,&5
An Extensive Plant.
The Old Dominion Iron and Nail Works
are; situated cns historic Belle 4 Isls, q large
rocky inlet in JLrnes River just abovsl
tile head OF naYigatl lont & The. plant cons
slsts Of q puddle min, two bar m Ills, q
plate mill. a. horseshoe "a ctory, nail milf
and other artnents. the products of
which have for years found fead salegH
was about 10. 600 tons u of iron aud iron
products annually No Irlanu facturlng@
plant in the State has finer or moro an, y "
pic water5powe The plant also has d
rect railway connections. affording ianapls
facilities for shipment OF Its products.
The great en- part of tic machinery OF tho 4
plant is operated BY leans ~ OF VA ter
power. Seven large turbine wheels shnr-s5
ness and utilize the water power. other
portions of the plant s aro orerated by 4
steam The company has extensive oft1cesM
sand buildings on tho island with railway
and telephone #conncc ton with tho city
THE plant III full operation employs about
eigl, hundred men. tsts5 ss Sa
The works were established nbout {
thirty years before the war, and during
4 the war the plant was Utilized to manu-
facture ordnance supplies for the Con-;
1 3federncy. and during much of the war
as q. prison for Federal soldiers. The
plant represented an Investment Of about
$500, 900 insslts inception. nnd man en-&
largements and Improvements have been
made since that time that add greatly 4
to the value of the works. The plant ha4
been thoroughly lodornzed since the
~ In,
manner. n .I,e ss 4. sss
Can Use the Products.
LIT is understood that it is the purpose
of Mr.. Gould 10 operate this plant ac-s,
lively and to Increase It's output. twill K
be utilized to- manufacture supplies for
the railway lines with which MI. Gnuld
is connected. As he Is the principal ~
owner OF the lines OF the Virginia Pns-
scngor and Power Company, and allied
trolley lines properties, OF this city and
section, and Is Identified with eSteNslVs
railway interests III various sections at
tho country, he can operate tho plant
TO great advantage. taking n. large pro-
portion Of tho product for his own Use. NJ
The purchase OF tho big plant by the q
Gould interests may ultimately mean not
merely an enlargement of the output Of
the works but also a steel plant. Willis q
there Is no intimation from Authorlta-
tive sources on this point. the plant III
admirably adapted for steel making. The
construction OF an open hearth steel plant
was n dream OF the late Superintendent
Rlankenship. whose promising career was
cut short by HIS tragic death last YEAR
Certainly the prospective new owner Of
the plant has ample capital with whirh
to operate It and as he Is buying the
works as an Investment there is reason
to expect that he will greatly revive and a
expand Its scope and products, When "
Mr.. Gould visits this city he will probably
outline his plans for the future OF the
establishment II & y @ 4 81 f33