The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-06-29
NO7TAKEA
C'E II ! ] [ n
City Must By Content With the
Originate fer ST Il Mayo, 8.
Bridge. 1 4 n "
The OPTION HAS / q EXPIRED
But Ct Mr. y |: Gay Will I'll Under.tak
L Renew Tiff De- sS ..',-
sired ii. 4 II 4 Y q


AT meeting last night Of the s.,b--
i1iittee OF the Joint Free Bridg Com
Smittee, representing Manchesst er and
Richmond In the matter Of tho: proposed
erection of a free bridge m tho, site of
sM9ayo's Bridge, a report from the special
committee, stating III substance that
Mayo's Bridge could be. purchased for
s127i5oo, In three and 20 half per cent.
bonds, Issued Jointly blythe two cities.
and that ut present there was no option
on the property, was 81 omitted and ac--
cep ted. 1T will 60 to- the entire COMM \
tee for IA ifications Messrs. G. K. Poll
dock, Of Richmond, and w. b. Bradley and
j. 81. we ef1eld, Of Manchester, signed the
report. Il q Nj "A
After the prelude the report OF this
special go ilmittee says that Mr.. Ware b.
Cay presid ent of the Mayo Land and
Bridge Company, was seem TIL reference
to the price Of the property and as to
whether q. rem ewal v Of the option could
BIO obtained Mr.. Gays reply to the COM
mittee Y Is quoted in full In tho report.
and IL as follows: NJ /; {; 134s Il
Tho op ton entered into between the
Mayo. Land and. Bridge Company and
the Name hester and Richmond Free
Bridge Company has expired by limlta-
lhtion.t There Is no option in force at this
timoa and our stockholders and bondhold-
lers are unwilling to renew the adoption
until the. two titles have In some way
expressed themselves willing to take the
property at the price name ed, viz: s127 500.
in three and a half per cent. bonds. I
suggest that II the committee repre-
sent ting $Manchester and the committee
representing Richmond will agree to re-
port this price fayorab bly, to their respec-
tive Councils for adoption that will
undertake to SECURE o binding option
| providing sufficient, time to 4 enable them
to pass upon tho questi on. = I. 3 Il, M
Would Take Two Nv ks.
Mr. Gay further stated that / would
I5necessltate a. trip to Boston and that
he would need nbout two weeks. He Is
willing TO recommend tina t hls company
dispose OF the bridge, as now constituted.
with 5all i OF Its fra nchises and rights Of
way y including all porperty 81 owned 4 BY
1.-THE company at both ends of the. bridge
and across the island six ty feet In width.
s After this special report had been re-
ceived Mr.. af Pollock offered the following
Isresolution,5 which was adopted: That
this subcommittee recomm end that In the
event It'll determined by the Councils
OF Richmond and Manche ester to construct
! asbridge on tho site OF the present Mayo 8
Bridge, that the property n necessary should
be acquired and tho brid ge const ructeq
| out OF the proceeds Of bonds to be isued
/; by the Manchester and !, Richmond Free
Bridge Company. the said bonds to , be
payable fifty syears after the datS there's
Of. to bear three and on e-lalf per cent.
interest, q to be g,,aiant ee q: Jointly by the
| cities OF Richmond and Manchester with
1.-THE sproper 4 acqu irernent for Ia 4 sinking
1 fund Of s onc-half Of one per cent. per
annunl on the face OF said bonds; the
cities Of Richmond and Manchester to
pay equally to- the said bridge company
any deficit that may arise BY failure OF
sal d company to; earn from the seso q
said bridge by: transport ton and trans
mission companies Of an amount equal to
THE interest, redemption and costs.
Messrs. Adams, and Pollock, of Rich
mond, and W. b. Bra dley, Of Manchester.
ATTENDED the meeting. Messrs, Wakefield
and Reams, OF Manchester, were absent.