The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-04-13
OFFER TO LEASE
CITY GAS: WORKS S.
Men Associated With !! I Mr.. I'
E. L. BeniSs Would
Take Plant.
LETTER WRITTEN
SETS. FORTH PLAN
Matter May Receive Considera-
ton Of Committees and Coun-
cil-LoWer Branch Against
Lease, Though Board
Has Not Taken
Action. @

. First The city VIII get free GAS for
It's own use.
Second. il viii receive Interest on
lts own bonds. representing the cost
OF the plant
Third /. viii have cheaper GAS
for It's citizens.
Fourth At the end Of thirty years
II VIII receive back its plant, very
greatly extended and improved, Tree
from all liens, standing on It's books
as having cost II not one cent.
Above * briefly outlined the nuticl-
patcd. results Of II proposition wlicil Ger
inil, gentlemen In Richmond ana cisc-
where are willing to make the Council
culiccrnng the lease OF the gas works,
81 more detailed account OF which VII
be found below, In n letter from Mr.. -.
j +. BcmIss 10 Mr. Joseph Bryan.
In his letter, Mr. BcmIss. who It IS
claimed, represents capital ample to do
all he proposes sets out that the propo-
sItion IS 50 clearly q business one that
II deserves consideration at the hands OF
the Council.
Mr. Bemiss sets forth the scope OF the
proposition, which the interests he rep
Ic.cnts are anxious TO make to the city,
ttnd Is confident that as II business uucs-
stion set fairly before X the tylcannot
AFFORD TO throw 1t overheard without
consideration
Letter of Mr.. Bemiss.
5 Tho letter Of Mr.. Bcmiss follows;
Richmond. Va. pril II. 1906.
Mr. Joseph Bryan, Richmond. Va:
Ny Dear Air. BrSan,-Purs,iing further
our conversat lion OF ills morning on the
5ss subject Spf & municipal operation tile
..as plant, IL seems 10 iiiel tiii,t ordinary
1,u:{ {ne.s Judgment should call for n
further consideration OF the subject be-
fore It IS definitely disposed of.
The question Is n business question,
and involves no principle which caii jus
tiry the Council in summarily rejecting
the proposition TO lease the plant without
even an opportunity Of learning what
terms might he proposed to2lt by respon-
siblc parties willing to make an offer
10 operate the plant for the city.
1t would be an unusual course for per-
sons intending TO make such an Offer 10
make public the terms of the offer before
mated to whom such offer can - made.
But iii contemplation that such an op-
5 portunity would he given, number or
gentlemen OF high standing in this cons
n,uni,y. moved. believe, entirely by
public spirit. have been In conference
Will, experienced parties. who are prc-
pared to make al, offer for the lease OF
The plant that will bring results of such
,,naunlincd benefit to the city, that II the
details OF the offer were known TO IN"
Council, do not believe any member
+, would feel lie could refuse to permit MS
constituents ut large to say for them
selves whether they desired TO accept
those terms or not.
What Will Be Guaranteed?
Tho proposition of these gentlemen was
to organize q home company through
whom an offer would be made to operate
tho plant. guaranteeing by sufficient bond
satisfactory to5the city, the following re-
suits:
That the city. should have, without
cost, gas necessary for public light. E
That the city should have in cash
each year enough money to pay IN
tcrcst on the sl,o76oCO of bonds charged
rs the cost Of the gas plant.
That the company would cXpend
Immediately all money necessary TO
nut tho plant III llrst-cass condition,
t.H
business estimated to be not less than
s750,Oo0
That the company, starting with the
present charges for gas service. Will,
with the Increased consumption of
gas, Systematically decrease the cost
OF gas to the private consumer,
That the company will pay to the
CITY annually such sum OF money,
which. at 4 per cent interest, COM
pounded, would, at tho end of thirty
years, aggregate an amount sulficlent
to retire the $75O.00o bonds issued for
improvements of tho plant, and in ad.
dtion thereto, S1,076,oO0 of the general
bonds of the city, charged against me
cost Of tho gas plant rnturnng inc
plant to the city In nrst-class condition
and free from liens Of any kind.
"Cost Not One Cent"
Summarizing, We havo the following,
Inirst--Thc city will get free gas for Us
pwn use.
Second--It will receive Interest on It's
own bonds. representing the cost of the
plant. ~,
citizens
FonrtI--At the end of thirty years It
will receive back It's plant, very greatly
extended and improved, free from all
liens, standing OH It's books as having
cost 1t not one cent.
Can 1t he that the Council Of tho city
Of Richmond, with the prospect of mn
offer such as this, will decline to give
the voters of this city the opportunity
of expressing their wishes?
Very truly,
(signeD r, J.. RI2MIss..
Present Status.
The status of the gas proposition at
present, briefly stated, Is that tho lower
branch of the Council has declared
against either salo or lease, and hat
adopted Il resolution calling upon the
Light Committee to undertake tho work
OF thorough rehabilitation TINS resolu-
lion is on tile table in the Board Of Al
= dcrmep and will be considered at a spe-
clal meeting next Wednesday night,