The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-06-22
TO THE PUBLIC

In the bulletin published in yesterdays papers, the
tort has been made property and iran
ehses OF that company to the Vrgi mia Railway & Power
Company and challenges denial of the statement
We have regarded business negotiations proper
subject for public discussion and therefore, have
the statements before the committee but this challenge
makes statement of the facts necessary.
The present management Of the Virginia Railway &
Power Company knows nothing of what place prior to
January 1st 1908 though understand that some negoa-
tons carried between the Fisher interests and those
owning the Richmond Henrico franchise for sale and DUR
chase of the franchise.
Between January, 1908, when the present interests
the properties July 1s 1909 Mr. Gould was approached
in New York number of times by brokers and others claim
ing be authorized to sell the Richmond Tenrco franchise
and solicited buy the He declined to consider the
proposition the ground that if he bought this franchise
he would have to buy another in very short time
In 1910 just before the construction of the Richmond
carried between Mr. Forbes representing Richmond
OF this company The negotiations begun through the
Intervention of mutual friend number of conferences
were held with Mr. Forbes and price fixed by him, but
the parties finally unable agree the negotiations
fell through Since that date and within the last
have been avoided by our buying his property the
time that he offered the and earnestly advised
Mr. Northrop to do and avoid the competitions
During the construction of the Richmond & Henrco
RAILWAY ana since that tune different interests in this
erty have been approached number of occasions by
claiming to be authorized speak for the Richmond
Henrico interests with view to negotiating sale of the
property to The suggested has always been
sve and the suggestion has been declined
Within the past weeks of the representatives of
this have been separately approached by gentlemen
OF this city-one of them member of the City Council
asking Tor this special meeting and the other formerly in
chase this One of these gentlemen that he had
talked with Mr. Forbes the subject The matter was dis
cussed but the price suggested excessive and this
pany declined to consider it at that price
1t is nonsense to say that this properyis for sale
Every intelligent man realizes that the other company
must buy the other The Richmond Henrico people
are not phlanthopss They are in the business make
money If they can make by selling the Vr-
gna Railway Power Company, they will do So The Vr
glnla Railway and Power Company realizes that if it pays
profit for this property it will have buy somebody else
out in short time. So long franchises can be
obtained and sold at profit the business can never be
stopped.
The question at issue is solely one of price
| his latest bulletin of the Richmond & Henrico
Company also contains the ntmaon not the statement
Attorney The opinion of the City Attorney submitted to
the Street Committee thereon was as follows:
Committee Streets,
Richmond, Va:
Gentlemen have had under consideration the proposed
amendments to the electric light franchise Richmond G.
Henrco Railway Company now before the Committee
offered by Mr. Kelly the last meeting have found great
difficulty attached to of the questions involved but am
of opinion as follows:
/. The blanket franchise proposed, surrenderinp all Of
the streets and alleys of the City of Richmond use and
occupancy Of the proposed company will be- in opinion
valid franchise although have had very grave doubts
this point.
Subsection Of the proposed is in phrase
oogy which, in my opinion, would enable the company to
involve the City in litigation every attempted exercise
OF the intended to be reserved therein oits the
provision for penalty and forfeiture upon failure refusal
to comply with this particular provision for these rea
it, in my opinion, satisfactory provision The
best form of franchise would undoubtedly require
the naming of the streets and alleys desired
pied by the grantee. In the absence of naming the
streets in the franchise the interest Of the
City would be best served by naming successfully
particular portions of the territory the CITY to be
covered within specified time.
have prepared substitute for Mr.. Key's proposed )