The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-05-12

ment voted down. The franchise as proposed there
TORE provides for lower rates than the present
ule OF this company any class of service.
These hearings have demonstrated that the service in
Richmond, both railway and light and power is ade-
quatc and fully to the needs OF the community and
that the rates charged reasonable and below the
general schedules OF rates in other communities similarly
situated Can the people OF Richmond ask more:
The Virginia Railway and Power Company has sought
to keep its properties improved to state of highest
efficiency and we'll in advance OF the public service needs
OF this community. Since the reorganization in 1000
the company has expended than 100000 in i'm
Provements, and has under construction improve
ments in Richmond follows:
Addition to power station 100000
New office building. -..--.-.-.----..-.- 100000
improvements to roadway and track.-.. 100000
lotal ........................SI 100000
Proposed steam plant ii permitted by the
council 100000
iotdi Id
The company cannot continue to make these improve
ments and to maintain the high of efficiency re-
CURED by the interests of this community if it has to
waste its resources in useless fights and competition
1t cannot get the money make such improvements
unless it is assured that protection capital invested
which is afforded by other communities similarly stu
ated
If the company not furnishing an adequate SER
vice at reasonable rates disregardng the in
terests OF the community in way which could not be
remedled through the ordinary means OF control and
regulation there might be argument in favor of
competition but competition under the conditions exist
ing and which have been proved exist in Richmond
only means duplication of the service already had
waste OF money in competition which is necessary
loss to all parties in the end discontnuance of the
development of the service and depreciation in the
condition OF the property in the service rendered and
ultimately the consolidation Of the companies in which
large part OF the burden OF this unnecessary invest
ment OF capital would unavoidaby be loaded UPON the
public for all time.
This is the experience of Richmond the experience of
every other community similarly situated the inevitable
logic of the situation Other communities have protcd
by TINS experience and have refused to grant competi
tive franchises relying proper regulation
troll Why should not Richmond profit by observation
and experience and protect invested captal The pres
ent rates lower and the better than in the
old days of competton-why go back to the old
methods?
2. TO GRANT THESE FRANCHISES WOULD BE
UNFAIR TO INVESTED CAPITAL
IN THIS COMPANY.
Those controlling the Virginia Railway and Power
company have asked the people OF Richmond anv
financial assistance, and have only asked fair play
The right of the Council of the city of Richmond to
grant competitive franchises is questioned and that
right should always be reserved final protection to
the people OF this community.
In the face of the facts which are admitted however
that the existing company has built up in this COM
munity public service unequacd in any other similar
community of the ed olo Of tho