The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-05-12


expanded ahead OF the needs the community even at loss to
itself has shown for the welfare and develop
through State and municipal bodies earnestly urged that
grant competitive franchises only unsound economic polcy
but unfair the capital invested the existing
The stocks this company up last have
paid dividends either in the history of the Richmond Passenger
the Virginia Railway Power Company The stock,
to which the controlling interests look their losses
through the eight that they carried and developed these
properties without only paying dividend 1t
be reasonably expected that the faith people in
community wead them indefinitely invest unless they
reasonable return
In order make improvements keep with the
growth of the community and contribute that growth add
tiona large be provided each and
pended this city This cannot be obtained reasonable
from the sale unless the capital
vested protected from constant and unnecessary competitive
warfare such as does not exist in other similar communities
these franchises granted fair competition under any cond
impossible for under their the
existing company and the price which has fixed by
the OF the property but by arbtratos The capital
carried by the existing nconcevabe that
be made by which proportion of that
vemen will be borne bv the new company The result that
company take the business of the existing
company the hancap which conditions have imposed
the construction of these works This not fair competition
The present company is carrying amount Of
Improbable construction the outlying districts of the city and
community but Improbable the COMPANY To offset this
profit be derived from the contracts and business
in the central district company present
Richmond of the corporate limits
but little OF which yields the operating The cond
ton exists to railway tracks
What advantage community from the
ton of the Richmond Henrco Railway? They operating
on the tracks this company parallel
thereto and they rendering practical
the existing not already rendering with the
such viaduc Broad Street and would have done
if the Richmond Henrico Company had been the
field and the aduct if would have been free and not
toll bridge Every dollar of toll paid this bridge OF
the that the people of Richmond paying for this COMPETE
The road admittedly operating loss The people,
therefore have their dug and obstrued with service
merely duplicating what they already getting from the existing
and the only effect waste OF time and waste OF
operating and dollar OF loss
the Virginia Railway Power Company imposed by the eompe-
crppes that its efforts extend its lines
and to develop the community What the profit from such
competitions
power service The present both railway and light
and power adequate every reasonable requirement OF
the community 1t operated on broad and liberal lines There
is Of reduced continuing competition
To duplicate that beyond the needs of the community
only economic The loss fall upon the
other company for but ultimately history will repeat itself
and both companies will be owned by and the burden
of the additional and capital investment and losses
operation will be borne by the community for all time
1t Is the history OF such competitive that they have
often become such existing enterprises that they have
been sold at profit to the promoters but would be difficult to
find where they have produced profit the
These the which presented the
committee why these franchises should not be granted The
OF this company and the city of Richmond INSOFAR
ably inerwoven the prosperity OF means the prosperity OF
the other the Gripping OF one the nurng OF the other
Other communities have adopted the broad and economic
policy OF substituting reasonable regulation and control for dis
and impossible methods of competition The
people OF Richmond have this of regulation and control
They must determine whether they will profit by their
experience and that of other communities continue
which alike disastrous the city and invested capital
We asking that these franchises be refused because:
There has been and absolutely need for competition
either railway light and in Richmond the dupca
ton plant and service only additional cost to the
ty in the end
The service, both railway light power being
nshed by the existing the of this community
adequate, liberal and given reasonable
The needs all Of its in the development of
its properties and making Improvements and keep