Evening journal., 1909-07-19
RECEIVER FOR
M'CALL COMP ANY
Power COmpaHy'S Plant
Taken In Charge For
Debt
COULDN'T MAKE
INTEREST PAYMENTS

80 Aha~9 AhA WILL -
Judge George Gray. of the United
States Circuit Court has appointed ].
Edward Aldred, of Lawrence. Mass,
receiver of the McCans Ferry Power
Company, which owns extensive water
rights IN Lancaster and York coun-
ties. Md. The company is at present
engaged IN constructing an immense
conrete dam sixty feet high and half
mile long over the Susquehanna
River, below Cully's Falls, together
with a large hydro-electric plant
Tho receiver was apoinpted on the
petition OF the Knickerbocker Trust
Company of New York, holder OF q
mortgage covering the entire propertv
rights and franchises of the defend
ant company. and given TO secure the
payment Of the principal and interest
on Si0,000,o00 OF per cent. gold bonds.
of which s9.027000 have been issued
and are now outstanding. Default
was made I'm the payment OF the inter-
est on the coupons. which was due on
December 10 last. and. after waiting
six months, the majority of the hold
ers Of the bonds demanded OF the
trustees Of the mortgage payment OF
the full amount of the principal inter-
est OF the bonds in their possession.
The default was admitted by VIII
liam NJ. Barnum, OF Mamaronick. n
Y. chairman OF the reorganization
committee, on behalf OF tho committee,
and Frank II. Mills, counsel for the
defendant company. consented TO the
appointment OF the receiver j. Ed
ward Aldred Is the president OF the
Shawinlgan Water and Power Com
pauy. OF Shawinlgan Falls. Canada.
His home is in Lawrence. Mass. but
he has spent most OF his time during
the last few years In Montreal and he
is contemplating residing In New York
in the near future
John G. johnson and Frank p.
| Pirtchard acted as counsel for the
Knickerbocker Trust Company. trustee
1 OF the mortgage. in the proceedings.
The McCairs Ferry Power Company
was organized more than i've years
ago by Philadelphia and New York
capitalists following reports presented
/ by George S. Morrison and Carey T.
/ Hutchinson on its engineering possi-
bilities. The Knickerbocker Trust
Company. OF New York, took a leading
] ldA III AiAAaANlAAh ANlN NLAfAIN anu MIltI
that institution became embarrassed
with about so per cent building oper-
ations completed. work ceased. When
the Knickerbocker Company failed
y nearly all the bonds and preferred
stock were deposited with a committee
the bankers OF the syndicate beinf
Harvey Fisk and Company, ant
others.
The Mccall Ferry project was on'
Of great magnitude Briefly the pro
iectors proposed by the construction o
Sl0.000.0O0 dam across the Susque
hanna River. TO establish a hydro
electric power plant with 100000 horse
power and to furnish the current q
run the mills and to light the street
, I'm a multitude OF cities. towns an
hamlets. the most prominent bein
, Baltimore. forty miles away. Exten
sion OF it's service 10 Wilmington an
Philadelphia was one OF the suggeste
, possibilities.
Maryland has an eminent domai
law for electric companies under whic
the McCal's Ferry Company could ex
tend its wires in any part Of the STATE
This meant much to the great powe
t, concern as it could thus enter town
and furnish its electricity at such rate
as TO compel tho local companies [
sell out 20 IT,
IL was this very fact that proved
stumbling block TO the company q
Pennsylvania. There Is no such lay
there. and a company cannot delive
its electricity outcide Of the county l
which it is located.
The great dam across the Susque
hanna River. the most monumental q
the company's works. was planned &
be 1900 feet long from bank to bank
so feet thick at the base. % feet at tn
crest and 80 feet high. II was design
b ed TO imprison the waters OF an
p Susquehanna which roar down tn
; rocks with a fall Of III feet in twent
81 miles in a great lake ten miles lon
? and then TO liberate the water
d through ten pairs OF the largest tur
. bine wheels ever constructed, eac
I pair Weighing $4,000 pounds. with IN
resulting 10000 horse power in IN
e form Of electricity, there was TO b
! supplied light and power within
radius of 100 miles. In the radius ar
e Philadelphia. Lancaster. Columbl,
s Chester West Chester. Coatesvill,
n Harrisburg. Steelton. Reading, Potts
n town, Norristown.' Conshocken. Yorl
. Downingtown. Phoenixviilo and Lei
! anon, all in Pennsylvania: Whining
r ton. Newark. Clayton. in Delaware
G Baltimore. Port Deposit. Havre d
= Grace. Aberdeen and other places I
Maryland.
The work was begun towards III
close Of 1905 by almost a thousand me
a and until recently has continued,
/. maximum of 5000 men having been er
: gagged. Officers OF the corporation an
, many employees took mp their residenC
) In new and attractive village spec
: ally built for their accommodation.
Work, however, ceased about d
!, time Of the financial depression in 100
Much of the dam was completed bi
fore work ceased.