Daily press. [volume] (Newport News, Va.) 1896-current, 1909-05-06
RICHMOND TROLLEY
LINES FORMALLY SOLO
Bought In BY Representative Of Pres
ent Owner of Property-Gould
Still in Charge,

Richmond street railway lines were
sold at auction today and bought for
the Gould interests.
The Richmond railway reorganiza-
ton committee, composed of Doug
lass Robinson. chairman; Charles S.
Whelan. Frank Jay Gould, r. Iancas-
ter Williams and FRITZ Sitterding, bid
in all the railways. electric light and
other properties which have been in
the hands of the courts here for the
last FIVE years for the sum Of $780,
600. the money being paid in certified
che cks.
The properties were sold at noon by
T + Green, auctioneer, under de-
cree of the court issued about two
months ago.
There was but one bidder, Douglass
Robinson.
Before the bidding was started il
was announced that in order to hid
on any of the properties offered II
would be necessary TO deposit s50,0oO
in cash or a certified check on rec
ognized New York bank. When par
! eel number one was offered Mr.. Rob
inson deposited check for $4,000
and then bid $2.50O.0O0 for this par
eel. This was knocked down to hin
and when parcel number two was Of
, fered Mr.. Robinson put up another
certified check for $4,000 and ther
f, offered 100000 for this parcel. He
got It. Next was offered parcel mum
Der three, and Mr.. Robinson came
forward with his certified check o.
$4,000 and then he bid s4.500,000 fol
the third and last parcel and 1t va:
also knocked down to him, as chair
man Of the committee.
\ The property as a whole was last
\ ly offered and Mr.. Robinson came uI
with a check for 100000. This mad'
a total of 100000 that he deposited
In the course Of the sale. For th'
property as a whole Mr. Robinson OF
fered 100000 and this ended th'
formalities OF the sale.
Exactly one hour was consumed II
selling the properties because thu
customer read about five columns o
descriptive matter from the news
papers in which the properties hat
been advertised.
| oloutUy ofFOFttlNco-
The bidding took but very Httl'
time. as Mr.. Robinson very quietly
We; sudibly announced his figures
and then there was some calling o
the bid and then the property soil
OF knocked down.
The sale took place from the step
to the southern entrance Of the cit,
huu ga -. thn ~s.,~ .-r-h -. ...-ss..
Ger Was the commitfe buying the PREF
critics. Fritz Sitterding. former pres
iden; OF the Virginia Passenger an,
Power Co. which became legally ex
tinct With the sale today. was seate'
Immediately 20 the rear and left o
the auctioarer Near him was Henr,
" Anderson. counsel for Frank ia
Gorid. and the receivers OF the prop
critics. Mayor Richardson saf on tn
steps near an interested spectator.
Fred Scott. Langhornc williams. r
T. Lancaster and numbers Of othc
prominent fnancicrs were among III
attendants
Must Wait For Confirmation.
Thirty days after the sale. the r.
Organization committee. after IN
court has approved the sale. viii an
uounce the reorganization ~ N
properties This means hat the rom
mificc which bought the property 10
DAY sill have 10 wait thirty days ~
The court 10 confirm this sale. an
thea go ahead with the wcYk n rr
I crrauizing
Directors and ofhccrs 81 the No,
company ~ ven as a name VII has
n ~ selected and new stocEs an
bonds issued and all this work vi
BE- done BY DcuElas Robinson. chair