The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-01-22
RAILROADS TAKE
BUILDING STOCK
President Stevens Authorized to
Net for Chesapeake and
Ohio Directors.
ASSURES NEW STRUCTURE
Location Now Only Point at
lssuc-Tfrcc Sites in
View.

president George w. Stevens. OF the
chesapeake and Ohio Railway. was au-
| 'hoflIed by the board Of directors a,
INC company, al n meeting held in New
ORR on Thursday, to subscribe for
| the railway company to the stock %,
.nc syndicate which proposes the cree
| ZION Of skyscrapcr office buIidiup I'm
Richmond. as permanent home for mo
general Offices Of the chesapeake ana
ONO Hallway. the Richmond. Fredor
lcksburg and Potomac Railroad and IN.
First National Bank.
PRESIDENT stevens authorized the
statement yesterday that he had been
given tuil power to act for the company.
20 Subscribe for stock In the syndi :
cate and 10 represent the comnanv IN
INC selection OF plans and location.
while the syndicate has an option on
the Chamber of Commerce building nm
VI March !. at "A price which Is con-
| sideTcd reasonable. that location has h..
no Means been determined upon rne
syndicate having also negotiated FOR,
two other corner locations within a
expressed no preference as 10 location.
leaNlnS the whole matter In the hand
Of thc president.
Only n Question of site.
1t is understood that the directors
of the Richmond fredericksburg nu,l
Potomac Railroad Company, at a meet
ing held In New York. took similar ac-
ton, empowering President william ri.
white 10 represent that company
inc action OF the two railway COM
panics IL taken as assuring the cree
,ioa IN the immediate future OF a
| handsome fifteen TO twenty story sky
Scr2per. Tor banking purposes on tile
ground floor with railway Offices above
ine only important question 10 he de-
termined is that of site. The building
VIII be on Main Street corner he.
tween Seventh and Twelfth. AZ least
+! thfre sites are known to he under con
sidcration. with varying problems as TO
amount OF floor space and tic aspiration
OF existing leases
Ihc plan for erecting such =; build
me was formulated by directors of Tho
chamber OF Commerce and officials OF
inc first National Bank. largely with
d view OF providing adequate and pcr-
maiicnt quarters for the C.hcsapcnkc
ana Ohio Railway Conlpany's general
Offices and setting forever at rest the
pcrpetualli' recurring rumors of The
removal OF the Offices TO some other
lolnt on the system. The plan was
hiShly approved By the executive otfi. .
GERS OF the two railroads ccntring here
toth OF which have greatly ou.yrowp
their nresen, office quarters
sun IIns Option.
y tentative syndicate was formed and
an option secured on the Chamber of
commerce building IS Il possible loca
lion, while inquiry was made as 10
other desirable corners, prices having
been secured on two such locations
In the district held to be mos, desirable.
should the Chamber Of Commerce dis
pose OF It's building ii viii arrange for
new quarters. specially ARRANGED 70
sun It's needs. in the building to be
erected.
In general, the plan proposes the
erection OF frcproot building of mod
ern construction throughout The nrs,
iioor Will be given TO Il handsome bank
Ing room for the First National The
number of floors above Will he deter
mined partly by the amount OF ground
space secured Each railroad has pre-
pared estimates OF the number OF
square feet of Office room it win need.
Between the offices Of the two roads
there will be provided several noors of
Offices to be rented. which may be later
absorbed By the railroads, thus nrov.1-
Ing for future growth.