The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1909-10-31
NO. AMERICAN INTERESTED
Owns All the Stock Of the Mississippi River Pov~ Dis
tributing Company Which is to Get Its Power
From Keokuk, Iowa.

er transmitted over the conduc-
tors Of the new company. Keo-
kuk is 13O miles north OF st.
Louis.
The above water power news, much
of which has been published in The
Gate City ON former occasions, was
sent out yesterday afternoon and last
night from st. Louis. The re-publica-
tion is no doubt caused from recent
changes in st. Louis enterprises. The
dispatch which states that the dam
Is now being built at Keokuk can
hardly be accepted as the real thing
mere as unfortunately the dam is not
being built, but this community hopes
that it soon will be. The discovery
of power contracts with the La Clede
Gas Co. is no news in Keokuk as this
contract was made more than year
ago. The changing about of st. Louis
interests and the new movements OF
the North American Co. has no
doubt been r>e cause of the reAent re-
ports, and while they contain little
that Is new they go to show that st.
Louis is deeply interested in the Keo-
kuk project and that the North
American Co, is not entirely out Of
the enterprise. The North American
Co., it Is said, received the report Of
experts sent to examine into The Keo-
kuk project, paid for them, and turn
ed the proposition down as COM
pany, but individuals of the company
are still interested in the enterprise.
Another error in the dispatches is that
I the former must be finished by 1912.
The contracts give the constructing
company until 1915 to finish power.
The Iate City has had faith in the
water power, still has, but is not pre-
pared to say that the dam will be
built. When Mr.. Cooper makes the
statemen. that he will build the dam
this paper will then believe and say
that Keokuk is to get the water power
and believes the time will come when
it will be possible to make such a
statement But until such time there
is no cause for excitement.
ST. Louis TO Own Car Lines.
The st. Louis Star of Friday even.
ing contained the following which in
| directly has a bearing on the water
| power:
1 The North American Company of
New York will throw the stock and
| control of the United Railways Com
pany of ST. Louis on the market on
November and abandon it's voting
trust agreement. This, combined with
the sale of the controlling interests in
| the Laclede Gas Light Company, is
taken by men of affairs to indicate
that the North American Company
is getting ready to dispose of Its ma
/ jority interests in all ST. Louis public
companies.
A Fear Of the investigation by the
Public Service Commission and the
probability of having to lower charges
for service to the public and make i'm
provements demanded for the public
welfare probably Is prompting this
drastic move. The North American
Company never has profited on its
Z, common stock of the United Railways
Company.
The Union Electric Light and Pow
er Company stock may in like man
ner be sold to st. Louis capitalists and
! in the future the company's affairs
controlled by local men. Eventually
st. Louisans may gain control of all
tle public service corporations in the
city.
The voting trust agreement which
has been held by the North American
for five years, or since it gained abso
lutte control of the st. Louis Transit
4 Company's common stock, expires
i Monday, November l. The voting
trust agreement give the NORTH
4 American absolute control and domi
nation Of every act of the United
4 Railways Company. 1t could map ou
the policy and place whomever i
wanted In office.
4 Instead OF renewing the voting trus
1 agreement Monday, which the Nortf
i American Company could do il it saw
i fit, the agreement will be dissolvet
and the common stock issued to tn,
holders.
The voting trust agreement wa,
brought about by the issuance Of vot