Jackson County journal. (Sylva, N.C.) 19??-19??, 1914-01-30
GIGANTIC PLAN FOR
DEVELOPMENT IN
WESTERN n. c.
Asheville Citizen Jan. 21

developments of far-reachin9 i'm
portance to Western North Carolina
are presaged by the reorganization.
yesterday morning of the Toxaway
Power company, a corporation char
tered about a year ago with an au-
thorized capital stock of 81 500 600.
lhe reorganization of the company
took places at the law offices of
Martin, Rollins and Wright, in the
Legal building.
When the Toxaway Power com
pany was chartered, the incorpor-
ators were H. S. Mitchell ana W
Z. Moore, of Pittsburgh, Pa. and
George H. Wright, of Asheville AT
that time, the company intended
doing extensive electrical develop
ment along the various rivers in
Western North Carolina. but the
projects hung fire for time and
were finally apparently abandoned.
NEW CAPITAL INTERESTED
Recently the corporation was Sc
cured by New York and Southern
capitalists. who decided to reor6an-
lze, in order to take full control of
all the assets of the former corpor-
alton. This reorganization was effect
ed yesterday morning, but until
more details are arranged the di-
rectors of the company rofnse to
make public the names OF officers
proposed developments and other
matters which might defeat the pur-
poses OF the new organization.
Members of the new company own
or control extensive water ridhts
and property in Western North Caro-
lima, and they proposed to develop
water power projects along the
Ioxaway river in Transylvania
county and along the Green river
and other streams on the south SIDE
OF the Blue Ridge. All riahts. pro-
perties, options and agreements held
by the former incorporators have
been transferred to the new com
pany.
GREAT FIELD.
Western North Carolina i one of
the greatest fields in the country for
the development of water power
Nearly all the streams have swift
current, and great volume Of water
containing thousands and thousands
of undeveloped horsepower. Many
of these streams flow through pro-
perty owned or controlled by the
members of the new company which
will give the organization a ready
field on which to begin work.
The ideas of the Toxaway Power
company do not stop at the harness
ing of water power it is intimated.
With all the surplus electrical energy
now going to waste down the various
streams, properly harnessed and
ready to be put to work, there will
be an abundance of cheap power,
which will tend to induce manu-
facturers in search of new location,
to consider Western North Carolina
in a favorable light. The company
will control number of splendid
manufacturing sites, and may luild
some large manufacturing plants to
take care of the surplus power.
The new Toxaway Power COM
pany starts with ample capital to
handle most and sized deal. The
New York element in the company
has heavy financial banking from
several New York banks, While the
; southern men in the company, in
| addition to possessing much ,alu-
able property and water rights in
this section, also have ample fnan-
, cial banking from southern banks.
Within very short time, details
will be completed, options on other
property secured, and the company
2 will mako q dof1pito appo,,noorooa+