The La Jara chronicle., 1906-11-16
MANY MILLIONS OF DOLLARS
IN COLORADO POWER COMPANY

Colorado Springs. Colo.-The Central
Colorado Power Company. capitalized
for $22. 100000. the largest and most
powerful organization Of its kind in
the West. and with the largest capital
Ization ever incorporated in the local
County Court, was organized here
Tuesday By local, Denver and eastern
capitalists. for the Transmission OF wa
ter power to large mills. factories, min
Ing companies and eventually, In all
probability, to the mountain railroads.
Thomas +. Walsh. D. II. MOffat and
former GOV. MyrOn r. HerricE OF Ohio
are the leading spirits in the enter
prise, associated with them being a
host of Colorado and eastern fnanciers
of great wealth.
Proof of the importance attached to
the enterprise by capitalists is found
in the fact that within thirty days af-
ter the Offering of block of $1,000
900 in bonds. subscriptions for much
larger amount were received.
The following statement of the pur-
poses of the company has been issued
by the management:
THE Central Colorado Power Com
pany, which has lust been incorpor-
ated under the laws Of Colorado, has
an authorized bond issue of s2O,O00O0O,
and a stock capitalization of S7.5CO,OOO
Of preferred stock and Sl5.000,OO0 OF
common. The first issue of bonds con
sists of 100000. which have already
been sold, and the proceeds of these
bonds will be used to build tho first
power plant. which will have an aggre-
gate capacity of 10000 horse power.
More than six years ago we realized
- sfrnf
and electrical transmission develop
ments in central Colorado and com
meuced a systematic examination of
the entire situation. We believed that
such developments would not only be
Of great benefit to the Industries of the
state. but that tley would form prof
table Investment for large amount oil
capital.
I'VE have had associated with us
in this preliminary work strong iinan-
cial people in the East. and have. with
their assistance. acquired, by pur-
chase and otherwise, the water rights,
reservoir sites, etc, which form the
basis OF the present undertaking.
THE investigation and acquisition OF
these water rights and other properties
has involved an enormous amount oil
engineering work, and the expenditure
OF a very large sum of money. Inc
core of the situation consists of water
rights on the Grand river. 1t Is pro
posed 10 construct two large plants on
this river. one at Gore canon and one
at Glenwo1d. In addition to th"se
rights on the Grand river other very
important water rights aut properties
have been secured with "A WV TO de,
yelopment later.
Having acquired these rights and
properties. the situation was pre-
scented to financial interests in the
East, and it was decided to organize
the Central Colorado Power Company.
In order to provide funds for the first
development, which will consist OF
plants sufficient for 10000 horsepower,
$4,000, 900 of bonds of the company
were offered for sale.
"The sale of these bonds was en-
trusted to three banking houses,
Hcssrs. Lee. HigginsOn 4 Company OF
Boston. the Electric Bond d Share |
Company Of New York, and Messrs.
William p. Bonisht & Company.
Some thirty days ago the subscrip- |
tion to these bonds was opened, with |
the result that the issue has been very |
largely over-subscribed. These sub |
scriprions are from very strong finan- |
cial interests in Colorado, New York, |
Boston. Cleveland and other places in |
the East, and In London and Paris. /
The subscriptions from strong Colo |
RADIO pcople alone amount TO about |
81 100000.
The directors for the company for
the first year VIII be as follows:
%. II. Monat. Charles VI. MacNeill, |
J. A. Hayes, Leonard Il. Curtis, Henry |
Hiue. Thomas F. Walsh. all Of Colo |
rado: Hon. MyrOn H. Herrick, Cleye- |
land Ohio: J. r. Mckee, :. 4. Mitchell, |
+. r. Coffin. William J.. Bonrisht all /
of New York; George L. Peabody, Cop
ley Amory Of Boston.
The officers Of the company will be
IS follows: Hon. Myron T. HeiIic!-.
CloyelanE. Ohio. president; ]. Il. Ne
Kee. New York. S. Il. Mitchell. New
York. Leonard u. Curtis, Colorado
Springs. Henry Hine, Colorado Springs,
vice presidents; Leonard Z. Curtis,
and treasurer; Curtis <
Hmc. Colorado Springs, general man
ayers.
THE organization has been per
fected and active work is now in prog
ress on the plants at Gore canon and
GIonwood Springs.
The organization will include |
George 3. Triup. formerly manager Of
The Colorado Springs Electric Com
many. and z. r. HanscOm, electrical
engineer. formerly at the head OF the
power and mining department of the
General Electric Company.
The first developments which 1t is !.
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