The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-04-05
POWER FRANCHISE
AGAIN DISCUSSED
Richmond and Henrico's Request
Opposed by Virginia Railway
and Power Company.

Little progress was made last night
in settling the terms OIL which the city
VIII grant light and power franchise
to the Richmond and Henrico Railway
Company. After taking up the pro-
posed draft Of the franchise section by
section until midnight, the committee
rose 10 meet again on Monday night.
Apri 10, for q fnrther discuss, on.
CHARLES V. Meredith and 5. L. Kelly
represented the Richmond and Hcnrico
Railway Company, and Henry w An
derson appeared for the Virginia Rail-
way and Power Company, owner OF the
existing lighting and power franchise.
point of much debate was the
amount of bond the applicants ahail
give as evidence or good faith Mr..
Anderson protested that tho same par
ties had held AN unused street railway
franchise Tor ten years over the head
of his company, hampcr!ng II IN Dor
rowing money. and asserted that tho
mere granting OF paper franchise at
this time would cost his company
500. 600 this year in depreciation OF
the price OF bonds 1t must market In
order 20 carry gu. improvements now
under way.
Agree on Small Uond.
The committee agreed upon a 10000
bond, though Mr. Anderson reminded
the members that recently a bond OF
$4,000 WAS required of tho Richmond
and Rappahannock River Railway
Company and that the finai extension
of the railway franchise OF the luch.
mond and iicnrico Company va. grant. .
cd only after II had posted 3luo, 600 IN
cash ovid nee OF good faith
Dr. G. VI. Miller was placed on tnc
committee by Chairman Adams in
place Of the late Joan j. Lynch
An amendment was adopted 10 the
proposed draft uxlnE the date of cxpi.
ration OF the franchise TO make II tn.
same as that of the existing franchise
about fifteen years hence. The City
Attorney was instructed TO prepare q,
new section providing that /; DC on
tional with t,la city TO take over the
property at q valuation a. the end Of
the franchise
City Engineer Boiling said a plan OF
the proposed condults should be nieI
at once and that underground work in
Broad and other streets should be
pushed forward IN advance OF the lay.
ing OF nsw paving.
Mr. Pollock insisted that the tax on
gross earnings and lines snDmid be
made prior lien on the property. TO
which Nj. Meredith strongly oblrctra
as possibly iujurins the market for
tile bonds. The amendment was adopt
sd 10 g as follows: Ayes-AIrssrs
adams, Pollock. vonderlehr ana rer-
gusson: nocs-Messrs. Moore. Miller
and Don Leavy. and some OF those
present took this az the probrhlc di-
vision of the committee on the quog-
ton of whether OF not 1t was desirable
To grant a competing franchise. with
tho conseauen, double tearing W OF
streets.
Wants Lower Rates.
Chairman Adams held that tho city
was giving away valuable right and
that 1t would be put TO great cost IN
replacing street paving and should
therefore have some concession in re-
turn, and he moved That the appl-
cants be required 10 make rates 20
pcr cent. lover than the existing rates
Of tho Virginia Railway and Power
Company. Mr.. Meredith said that was
no. his offer. HI had proposed base
rate OF cent?. with the sa me scale OF
discounts, the old company's base rate
being 10 cents, but this does not guar
antce 20 per cent reduction all along
the line nor does il affect special CON
tracts With large users of current.
With this question undetermined, the
committee rose, Mr. Anderson giving
notice that he had several amendments
10 propose TO protect his company and
prevent the granting Of mere papc:
franchise. which might not be used
save for speculative purpose.