The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-04-21
TRANSMIT POWER
FOR MANY MA MILES
Richmond Concern Will Build
Transmission Line From
Petersburg to Norfolk
HUGE MERGER is EFFECTED
Virginia Railway and Power
Company Buys Norfolk Street
Railway System.

Development along an Increased
scale of the States water resources for
generation of electric power is among
other things under consideration by
the owners of the virginia hallway
and Power Company. which yesterday
announced the absorption OF the Nor
folk and Portsmouth Traction Com
pany. the corporation owning and con-
trolling most of the street railway and
ferries properties In the Underwater
section. The merger it was given out
yesterday, Will be effective on July J.
The local company controls the wa
ter power of the .tppomattoX River at
Petersburg, from which power for the
operation of portion of the railway
lines and power plants is now gener-
ated to some extent. However. trans
mission wires arc now being Installed
to bring current into Richmond. and
when details OF the consolidation have
been perfected transmission service
will be put In TO operate the property
In Norfolk.
Take Power olnny Niles.
BY this means the electric service of
Norfolk, Petersburg and Richmond will
be operated largely from the waters
of the AppomattoX. M
After lengthy negotiations an agree
ment between the two companies has
just been reached, and formal an
nounccment of the big merger was
made yesterday from the offices of tho
Virginia Railway and Power Company.
The Richmond corporation owns and
operates the street railway and light
and power plants of Richmond and Pc
tersburg and contiguous territory, In
Guiding the interurban road OF twenty
two miles between these two cities.
The mileage controlled is about llo.
moi nrl> cts ,pilc OF
lines.
Is Paying Dividends.
The Virginia Railway and Power
Company has outstanding s4,5oo,O0O par
value of $ per cent preferred stock.
and S7,450.000 par value OF common
stock. 1t paid dividends OF l1-2 per
cent. on the preferred stock for the
fiscal year ending June 80. 1910. and
since that time has been paying per
cent, payable semi annually
+ Approximately 100 miles of owned
and leased lines IS operated by the
Norfolk and Portsmouth Traction Com
pany which not long ago absorbed the
Norfolk Railway and Light Company.
the Atlantic Terminal Halfway Com
pany. Norfolk and Ocean View Rail-
way. the electric railway property III
Portsmouth, together with ferries.
some Of which have been leased 10
other companies. II controls suburban
and interurban lines to Ocean View.
Old Point, Sewall's Point. Money Point
and other places. 1t also does the
light and power business OF the city
Of Norfolk. including the furnishing
of gas, owning the city Gas Company
Inrgc Earning Power
The Norfolk Traction Company has
outstanding 100000 5 per cent pre-
ferred stock and the same amount OF
common stock. II has paid dividends
on the preferred stock at rate OF 5
per cent. payable quarterly since Its
issue In the early part of 1910
The combined properties, it is esti-
mated. are earning s4,5o0.o0O. 1t is
believed that unusual economy can be
exercised in the operation OF the con
:olidated interests, giving Increased
efficiency i'll the service rendered ana
at the same time largely benenting
the stockholders. IT Is expected that
the change will afford better market
for the securities OF the power com
pany.
IL Is expected that n meeting OF the
directors and stock holders Of tile re-
spective companies Will shortly be held
to ratify the merger