The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1911-02-16
!. ouls public utilities Company
invests s2,soo,ooo in the keokuk
Dam Project Now un-
der Way.
SERVICE BEGINS IN 1913
slnted Railways and Union Electric
wake Contract Tor 81, 500, 900 Year
Iy-story Of FL
nancIal End.

ST. LOUIS, Mo-, Feb 16.-The
North American Company, which con-
trols the railway and electric lighting
crmpanies of st. Louis and Milwau.
kee. has decided to invest $2,500,Q00
IN the Mississippi River Power Com !
many. st. Louis will begin to receive
sn,okeless power from Keokuk, Iowa,
40 miles distant, early in 1918.
The company is arranging now to-
get the right OF way from the water
power plant to St. Louis.
The Investment of the North Ameri-
can Company In the enterprise and its
moral support in the financing, as
we'll as In the purchasing of the ont
nut guarantee the completion of the
work
Under the auspices Of Stone &
! Webster OF Boston, the underwriting
of the capitalization will be accomplish
ed by Kidder. Peabody & Co.. OF New
York and Boston, the j. & w. Selig-
man Company of New York and Can
adian banking interests.
The forth American Company has
taken control of the Z. ss.ssippi River
Distributing Company. which will
build transforming plant in st.
Louis county and turn the power over
to the United Railways and the Union
Electric Light and Power Company.
i The distributing company is the inter
nledisry between the power company
and stiie ST Louis public utility COM
2 panies.
The plans of the North American
Company were announced yesterday
by President James Campbell. He
said the United Railways and the
Union Electric have engaged to buy
10000 horse power a year at s25 per
horse power. or s1,500.o5
The distributing company will pay
SIS per horse power. or s1,0s0.0o0
The margin of 81 per horse power is
necessary. he said, on account Of the
cost and waste in Transforming.
The transforming station will be
constructed in st. Louis county. prob
ably in the vicinity OF Shrewsbury
where the st. Louis County Gas
Company. also controlled by the
North American Company. has exten
siye acreage.
Although Mr.. Campbell made NJ
statement to this effect. 1t is likely
that the United Railways and tht
Union Electric will be able to sal
considerable OF their land and build
1ngs after the power system is finish
ed. 1t is possible that solution 70
some OF the problems of the United
Railways would be facilitated there
by.
Power obtained from the transmits
sion line will tend to reduce the smok
nuisance in st. Louis. The general
ing Of the current will be entirel
smokeless. and even the power plan
VIII he 140 miles distant.
The price paid the Mississippi Ris
er Distributing Companv for powe
vi'l put the Union Electric in pc
S''lon tt rndersell electric Plant
which generate their power with Goa
IN effect. the inauguration of the ne'
service will not only produce econom
of oneration for the United Railway
nuf permit the Union Electric to seal
It's rates downward to some exten
and the consumers of light and powe
will benefit.
Construction of the transmission lin
rom Keokuk to st. Louis will begi
mis- year. Work on the immense dal
az keolsnk is progressing rapidly. I'll,
!'urchasing Of right of way or spac
.or the line towers. and of grcun
'or the stations. is the next operatio
Wflch will be undertaken.
The dam is being built under th
s'lrervision OF Hugh L. Cooper {
New York and OF W. V. Powelsol
'ol'ner president OF the Union Electri
with John r. Freeman OF Providens
Is consulting engineer, The Stone
Webster Engineering Corporation wi
nave charge Of the electrical install
'lon, including the transmission ar
distributing lines.
The Mississippi River Power Cor
panv is canitalized at s22.000.0o0. co
F'sting Of ss.ooo0o0 OF 6 per cent cur
native preferred stock and s1s.0n0.n'
q common stock OF the 20.00'
uuo Of 6 per cent bonds authorize
sls.Oo0,000 have been Issued and S
700, 1000 OF the s1s.0oo,0oO Is reservs
IN the treasury. The North America