The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-12-17

reach their maturity, and leave fund
for public education. Attorney-G General
Anderson. who stated he was present
both as the advisor OF the Corporation
Commission and as attorney for the
Board of Sinking Fund Commission
ers discussed the legal points involved
opposing the granting of the charter
,ir. Anderson'- Statement.
air. Anderson replied After refer
ring To tic legal aspects of the case.
which had been raised by the artor-
neys for the Richsnoud. Fredencks-
bugg and Potomac. Mr.. Andersen made
a personal statement as follows:s
-, great deal has been said az to
the position of the Riclrmond aud
Chesapeake Bay Railway COMPANY, of
which am yice-president and counsel.
In connection with this movement ]
think the commission thoroughly IN
d.rstands the position Of that COM
pany and of its officers. with respect
To this movement. and also the owner
ship OF the Fredericksburg Power Com
pany. because all this has been dis
cussed from time ia. time with the
members OF the commission. viii
state publicly the material facts upon
the subject which. 1 think. are already
known. the commission
the Richmond and Chesapeake Bay
Railway Company-or in the interest
of Mr.. Frank Jay Could who controls
It's stock--and Is made with his ap-
proval and by his direction. The Rich
mond and Chesapeake Bay Railway
Company was originally incorporated a..
time just following the date when
the street railway properties in Rich
npnd which Mr.. Gould and his sister
controlled. We're placed in the hands
of receivers. When he first suggested
the subject to me he stated that he
desired 10 construct road into north
eastern Virginia. to be operated by
electricity. and when i replied thar
did not think 1t wouldabe profitable
investment for him he said that his
Interests in this section, financially,
had become so large that a further
enlargement of those interests was
necessary in order to bring them out
of what appeared to be very unprofit-
able conditions. and lie believed thai.
the extension of line into that se:-
ton of Virginia which. with the coun-
try tributary thereto, had large re-
sources would be a wise thing for
him to do in the promotion of his az
istins interests. through the develop
ment of the community which they
profitable.
The matter was taken up and char
ter obtained upon that theory. and both
Mr.. Gould and myself visited the neigh
borhood OF Tappalannock. and was
authorized to proceed with the con-
struction OF a line to Tappahannock
as quickly as possible. The prosecu-
ton of that work east of Ashland was
delayed owing to the difficulties and
delays In the completion of the line 10
Ashland. Subsequent 10 that time
some six or eight months after the
Richmond and Chesapeake Bay Rail-
way Company had begun the active
work of construction-Mr. Gould had
brought to mis- attention the Fred
ericksburg water power, or the capa-
hilities of the river for development,
and upon investigation ascertained
that 1t did have possibilities for the
development of very large water power.
and although he was In Egypt at the
time. wrote him. recommending the
purchase. which he cabled me authors
tty to make, and that company was
acquired by the Richmond and Chesa-
peake Bay Railway Company in 1906