Webster City freeman., 1913-11-25
THREE COM
PAN|ES TAKE
OVER ROAD
Business Of Fort Dodge, Des Moines
& Southern to Be
Divided.
WILL FURNISH THE POWER
Lighting Of Several Cities to Be In.
dertaken by New Or
ganization.

Des Moines, Nov. 22.-The busi-
ness of the old Fort Dodge, Des
Moines & Southern Railroad CON-
pany will be conducted in the future
| by three corporations now being Or
ganized under the laws of Maine.
They will be the Central Iowa Light
and Power company, the Fort Dodge,
Des Moines & Southern Railroad
company of Maine, and the Fort
Dodge Street Railway company.
Information of this important re-
organization of the electric system is
conveyed in three separate requests
presented to the executive council
yesterday asking that the three cor
porations be given permission to is-
sue stock in amounts of 100000,
$2,000,0OO and 100000, respective
ly.
Inasmuch as the corporations are
only in the process of organization
and have not yet applied for admis-
sion to Iowa, all the executive coun-
Gil could do was to indicate that
when that action was taken the
council would receive the PROPOSE
tions favorably.
The requests were signed and sub
mitted by Homer Loring. They out
line the present condition of the sys-
tenn and the improvements proposed
by the new companies.
The Central Iowa Light and Pow
er company expects to acquire and
own the Fraser power plant former
ly owned by the Fort Dodge, Des
Moines & Southern. 1t will take ov-
er all the equipment of the plant
and will add a 10000 horsepower
turbine. 1t will also take over the
transmission lines between Des
Moines, Ames, Boone, Fort Dodge
and Rockwell City. It will assume
the business of distributing electric
ity for light to the cities of Ogden,
Lehigh, Huxley and Ankeny Nego-
tiations are under way, according to
the document, for contracts which
will give the company the lighting
OF Fort Dodge, Cambridge, Pilot
Mound and Farnhamville. The COM
pany will do a general business of
electric current for
light, heat and power, extending it's
territory as the business conditions
permit.
The value of the property to be
acquired by the new company is es-
timated in the document as $780,
600 and it's net earning power is cal
at $4,000 year. The or
ganizers ask permission, however, for
a stock issue of only 100000.
All the trackage, rolling stock and
other equipment in use in operation
Of the interurban proper is to be
owned and controlled by the new
Fort Dodge. Des Moines & Southern
Railroad company. Their value is
estimated at not less than $1,000
900, but the corporation will have a
capital stock of million less. All
the business Of the interurban, in
the operation of the line
from the state college to Ames, will
be conducted by this corporation.
The Fort Dodge Street Railway
company is organized to take over
the four mile system at Fort Dodge
and operate it independently Of the
interurban system. 1t is valued in
the document at $l5O.O0O. The cor
poration is organized with a capital
of 100000.
The old Fort Dodge. Des Moines
& Southern Railroad company, for
mer owner Of these properties, was
forced into bankruptcy by the Old
Colony Trust company of Philadel-
phia, holder Of the first mortgages.
The system was operated in the
hands OF a receiver for over two
years. The receivership was dis
solved at the beginning OF the pres
ent month when the company was
sold to the former bond holders The
purchasers took over the property
with the intention of forming the
corporations which are now in the
process OF organization.