The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1909-01-09
sWEn PLANT
Consolidation Looked For.-Mc-
CaH'S Ferry And Susque-
hanna Projects May Fuse

The future OF the great McCalrs
Ferry Power project awakcns much in
terest in financial and industrial circles
and is just now giving rise to much
conjecture. The most difficult and
costly part OF the work has been COM
pleted, at a cost OF about $S,ooo,ooo, and
the entire work is about 80 per cent.
constructed to develop the 100000
horse power, the limit set to the power
expected to be furnished Default was
made on the interest on the company's
{ per cent bonds, due December IS
The dam is $3.50 feet long and one OF
the largest OF the kind in the world.
The capital stock OF the company is
$1,000, 600. OF which 5000 600 is cumu-
lative preferred. The bonded debt of
SIo,ooo,ooo bears interest at S per cent.
A protective committee OF directors
has been formed for reorganization and
securing needed additional capital. The
Delta. Pa. Herald. discussing the
probable fate Of the great project, says
a transaction involving the sum OF
$Is.ooo,ooo, said TO be on the point OF
consummation in Paris, is believed to
be closely connected with the future
OF the McCalrs Ferry dam, and it is
believed that part of the money is
intended for the purchase oi the prop
erty, rights, franchise, etc, OF this
company il they should be placed on
the market II is also rumorcd that
this financial deal is being engineered
by the Susquehanna Power Company,
which is a Maryland corporation dis
tinctly separate from the McCalrs
Ferry Power Company. While these
corporations are separate bodies, there
is reason to believe that they are really
held by the same owners The Sus-
quchanna Power Company was or
ganizcd to build a dam at Conowingo,
By James Harlow, who was the princi-
pal in the project to rebuild the dam
at Columbia for hydro-electric plant.
After some $4,000 worth of work. WAS
done the enterprise slI.cred n total
collapse.
The suspicion that this Paris loan is
intended in part to buy the Mccall
Ferry plant in case OF forced sale is
strengthened by combination OF cir
cumstances The financial agents oi
the McCall's Ferry Company are Ber-
tron. Storrs & Griscom. and this firm
IS said to be also the financial agents
2 oi the Susquchanna Power Company
Z Mr. Hope. the private secretary oi
EClcment r. Griscom. president OF
1.-THE Pennsylvania Railr >ad Company
faud the father oi Mr. Griscom OF the
t,bovc firm. within very brief period
feas elected a director OF the Susque-
snna Power Company The recent
III OF the Kcrbaugh Construction
s,mpany against the McCalls eFrry
hwer Company for nearly Ssoo.ooo
& Paris loan, the financial relations
the two power companies and the
btion OF Mr.. Hope as n director in
Maryland corporation, all appear
~ Indicate preparations for the acqui
4 si,ion OF the McCalrs Ferry plant b,
its down-rivcr ompetitor.
Another matter that may perhaps
have some significance is given promi-
nence in a map i'll the prospectus OF the
Susquehanna Power Company, This
is the prominence given to the lines oI
the Pennsylvania Railroad Compan,
and the total absence Of the lines OF al
other roads The idea conveyed by
the map is the elcctriication OF the
PcnnSvlyan'a'S lines. and il is present,
ed in the light oi the best possible mar.
kct for the plants product.
So far as can be asccrtained. about
5000. 900 worth OF bonds OF the Nc
Calls Ferry Power Compan have beer
issued