The Washington herald., 1911-05-28

ton, his holdings included the electric
lighting of Richmond and its suburb
Manchester, recently annexed by the cap
ital. and Petersburg.
About this time the city of Richmond
decided to do little electric lighting on
its own account. Gould S interests fought
with great vigor against the city's at
tempt to enter this field of public utili-
ties They were supported by TIE most
influential newspapers in Richmond. The
city was complacently indifferent to the
outcome Goulds power company hao
been giving good service, and Richmond
conservative citizens were perfectly sat
isfied The result was that the city sue
ceeded only in acquiring permission from
itself to furnish electric lights for lts
streets and public buildings. 1t was not
allowed to enter the business OF seiilhs
electricity to its citizens. The fact that
the city had made a success OF It's
ownership of the gas plant ana was
supplying a good product cheaply anu
effectively might be thought by some TO
he an argument in favor Of allowing the
municipality to run an electric hght
plant in competition with the private
corporation. The Virginians thought
however, that this would not be falr 10
a corporation that had been giving sat
isfactory service.
acoufred Great Franchise with Ease
The ease with which Gould acquired
pernetual control of the water power
generated by Virginia's three princlpal
eastern rivers is astonishing. Apparent
" there was not the least objection OF
fered. He merely asked the state 10
make him a present of the Appomattox'
James. and Rappahannock rivers ana
they were promptly turned over to him.
The power plants on the James were
in the hands of the Virginia Passenger
and Power Company before Gould Sc
cured control of this corporation, but
his river grants on the Appomattox ana
Rappahannock are of recent date AT
Petersburg a dam and powerhouse de-
veloping 10000 horsepower is nearing a
state of completion. and at Fredericks-
burr something like 10000 horsepower
will be developed when the powerhouse
is added to the dam already constructed.
Gould,s Personal Holdings.
The Fredericksburg Power Company
and the Richmond and Chesapeake Rail
wav Company are Gould's entirely. Prac-
tically no one else owns any OF the
stock. They are the closest OF close
corpora tions. The Petersburg water
power plant on the Appomattox' Is prac-
tically finished. 1t has been built since
Gould obtained ownership Of the Rich
mond-Petersburg Railway. and will be
;.l, fnr "
tending from Petersburg to Norfolk. In
cidentally, no charter has been secured
for this extension of the Gould system.
but>there is no reason to expect any OBJ
lection to its being granted.
Master of Norfolk Situation.
After the removal of the obstacles in
his path in Richmond and northward to
Washington Gould began negotiations for
control of the stock Of the Norfolk and
Portsmouth Traction Company. 1t was
not until last March that the necessary
percentage of the stock had been secured
to make Gould master Of the situation
in these seaport cities. z
No sooner had he secured absolute con-
troll of the Norfolk and Portsmouth prop
critics than Gould began plans for the
merger. A number of consultations were
called in New York and the officers of
the various Gould properties in Virginia
were taken into confidential discussion
of the plan. Then came the announce
ment last week that the merger had
finally been decided upon. to take effect
July /. The consent of the stockholders
OF the companies involved In the merger
will be perfunctory. as Gould is the prin-
cipai stockholder.
Twenty Million Dollar Corporation.
In the merger the Norfolk and Ports