The Washington times., 1913-12-07
LOCAL F|NANC|ER
HEADS BIG PROJECT
George T. Bishop, Electric Rail-
road President, in Alabama
Transportation Enterprise.
BY GEORGE H. GALL.

To the genius OF a local financier
George r. Bishop. president of tn,
Washington, Baltimore and Annapolis
Electric Railroad Company. Is due tn,
creation Of an enterprise that promises
to have a wide-reaching influence upor
the industries Of the South and Panama
| canal shipping.
This is the organization OF a trans
portation line bringing coal to the Gul
at Mobile and New Orleans. and making
1t available at a price lower than Goa
is now put down at any Atlantic ol
Gulf seaport.
With the purchase this week by Mr.
Bishop and a syndicate, of Dauphir
Island, lying at the mouth of Mobil,
bay. at a price reported to be 1900, 900
one of the most important links in the
chain of the enterprise has been weld
ed. The island occupies a strategic po
sltion with reference to American coast
wise shipping and shipping that NAV gc
through the Panama canal. One of the
islands that protects Mobile bay harbol
from the ocean, Dauphin Island is to bt
used by MT. Bishops company as 6
coaling station.
Approximately $1,000, 600 is proposed t.
be Invested in this island in the erec'
tion of piers. coal docks, and loading
facilities to make it one Of the greatest
coaling stations in the world.
For the past four years Mr.. Bishop
when not actively occupied in the af.
fairs Of the Washington, Baltimore and
Annapolis electric line. has been en-
gagged in pushing this new enterprise to
execution.
Large Investment Planned.
The project contemplates the trans
portation of coal from the fields OF
Alabama down the Tombigbee and
Alabama rivers. by barge. to the coal
ing STATEN on Dauphin Island, and by
through barge line via the inside pas
sage to New Orleans. other mining,
railroad and related features are plan
ned for the future, but the enterprise
has proceeded at present to the start
ing of the barge line and the acquisition
of the island for the coaling station.
4 total of SO. 600, 900 or more is expected
to be invested in the enterprise.
The financing of the big project to its
present stage has been accomplished b.
Mr.. Bishop in addition to his reorgan-
ization Of the local electric railroad cor
poration and the acquisition of the pub
lie utilities of Annapolis, all in the past
three years.
The magnitude of the undertaking is
indicated by the fact that the large
bulk of the coal used at New Orleans
has been brought in barges 1000 miles
from the PittsDurg, Pa. district, where
as the distance the Bishop company
takes coal by barge is about one-quar-
ter OF that distance. Moreover. while
the Ohio is nSvigable for this trans
portatiOn only in certain portions Of
the year. the Alabama rivers may be
used the year round.
Uncle Sam Helps.
The possibility of bringing coal chean-
ly from the Warrior field, as the Ala
bama coal field is named, 20 tidewater
at Mobile and New Orleans was sug-
Eested to Mr.. Bishop by the approach
ing completion of the improvement of
the Tombigbee and Alabama rivers by
the United States Government Through
the improvement of these rivers they
have been made navigable practically
the year around. BY the construction
of locks and dams. at cost OF about
100000, a sufficient minimum depth
Of water has been obtained. The chan
mel along the coast from Mobile Day
TO New Orleans is protected from the
Gulf by Il string of Islands lust off the
mainland. Coal is thus now being
to New Orleans.
When the Panama canal is opened
the countries on the west coast of the
three Americas will be able to get their
C Ia! frCm Mobile, whereas at presen.
they have to get it from Japan, Aus
tralia and Great Britain. 4 large ex-
p p)rtation to the West Indies and the
East Coast countries is also expected
10 follow the completion of the new
facilities. Ships in Galveston, Mexican,
and Panama trade will also be bunk
cred at Mobile.
Power b1rpaS ngpI to
the coal from the mines that are ada
cent o the upper waters of the 1CInbig-
bee. While the coal is now being car
ried To the largest market, New Or
leans. it is expected that "A large por-
ton of this will be diverted at Mobile
to the docks on Dauphin Island
The project is regarded ny its authors
as one OF the most important economic
changes incident To the big facilities to
commerce afforded by I'ucle Sam in
building the Panama canal. and making
the Alabama rivers capable OF opening
up the vast COalfields of that State. In
effect the rich coal region of Pitts
burgh, over 2,0oO miles from the nearest
seaport reached by water transporta-
ton, has been remOsed tn 362 miles of
the sea, the distance from the War
rior mines to Mobile. That Alabama
coal will from this timo on quickly sup
plant Ptttsburghs production In South
crn waters is readily predicted II is
even hinted that many of the vessels
that now call at Newport News and
Norfolk for coal will pass these ports
and load at Dauphin Island.
Good Bond Buying:
The local securities market was con-
spiCuous during the week for the
amount of investment in the bonds Of
corporations. The weeks
in these issues amounted
To $1,000. The stock trading was small
in comparison. only Ii2 shares of all
kinds changing hands. Price changes
were small In all the bonds, except Gas
SIS. closing prices We're slightly under
those Of the previous week. Gas IS
showed a half point gain. In two cases
new lows for The year were recorded,
49, for Railway As. and 9>s4 for Poto-
mac consolidated SIS. Capital Traction
stock showed a gain of points over
the previous weeks last price. Lanston,
Washington Gas and Commercial Bank
also showed advances. while Washing