Daily press. [volume] (Newport News, Va.) 1896-current, 1905-09-20
New Company Organized With
Capital of 100000
LOOKS LIKE A REALTY NOW
Prominent Local Citizens Officers and
Promoters OF the corporation-oaso.
line Motors to be Used on the Line
Instead of Trolley Cars.

a railroad between this city and
Yorktown, often projected and long
talked about, seems 1T last about to be-
come Il reality. Announcement WAS
made yesterday Of the formation of
company to he known as the Virginia
Peninsula Railway, which has as It's
object the construction and operation
of Il line from here to Yorktown, with
IL branch To Puauoson. 1t is also pro.
posed to have traffic arrangement
with The roads to Hampton, Old Point
and Phocb,iS, and, possibly, with the
Chesapeake & Ohio Railway.
This deal has been on foot for sew
oral months and ii eliminated Monday
night, when IL meeting Of the local
parties Interested was held nj the First
National Bank building. at this meet
nE. which lasted until about mil
night. officers were formally designat-
cd and Attorney O. d. l.atcilclor, who
had been named as general solicitor
was instructed to draw mp Il statement
giving the public its first information
concerning the company. This state
mpnt was given out Yesterday
Although The official statement did
not include the fact. IL is learned that
the new company has $40 900 actually
available al this time and is in posi-
ton To begin plans for the cunstruc-
ton Of its road. The charter, which
is now III the hands of the State Cor
pOr;tiion Commission, fixes the capital
stock al the company nj S306.000 and
it is understood that the bonds arc to
he taken up without delay by promi.
nopt business men Of This and other
cities. outside capital having been in
tercstcd III the project before any def
mite step toward organizing Inc cor
p0rat!On WAS taken.
1t IS estimated that S"00.O0O will
build the road anu put ii in operation.
Gasoline motor engines to to be used.
therefore the enormous expense of
building power houses and Il trolley
system will he avoided. The use of
these engines will also reduce The cost
oil operating the road to Il minimum
The officers and directors OF the
company are among; the city's leading
citizens and in addition To his the bro.
motors of the project have the asslr-
nncc OF matcrial support from outside
Of the city. Following are the officers
AMI directors as named in Inc charter:
Prcsi'lciti-W. y. Post.
Vicc-prc.idcnt-J. l.. Patton.
Charles II. Graves, Jr.
General solicitor-O. II. Batchelur.
Dircctors--W. a. Post. J. l.. Patton,
Arthur Lee. o. ID. Batchclor, J. a. vii.
lett, W. T.. Barrett, w. L. Cottrcll,
Alexander u. Meyers, l.. p. Stearncs,
ELIAS pcys2r, Walter Charnlcy, II. ].
Coleman and Fred J. Gauntlet.
Mr.. j. l.. Patton, who engineered the
deal which resulted in the formation
of this corporation, with Mcssrs. ELIAS
Peyser and Walter Charnlcy, recently
made Il trip to Omaha, Ncb.. for tho
purpose of observing the operation of
gasoline motors OH Il railroad In that
vicinity They, were greatly pleased
with the motors and came back fully
convinced that gasoline instead of cleo.
triclty should he used by the proposed
company.
The route of the proposed road has
practically been decided upon, but tic
officers will not discuss the matter nj
this time. No trouble in securing
rights of way is anticipated. as tho
road SHOULD greatly enhance the value
oil the property along the route.