Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-01-21
Ig0ULD's OFFER TO SELL
LINES PROVES SURPRISE
Hrcsident of Virginia Railway and
Power Company Discusses Mu.
nicipal Ownership.
is CONSIDERING PLAN
Some Members of City Government
w. Unprcparcd to Give Opinion on
Si'roposal-Graliam b. Hobson Fa-
yors Purchase of Equipment.

Is est in political and financial circles
yesterday i'll the cablcgram of Frank
Jay Gould. sent from France to The
s. Tlmes-Dfsnatch. declaring his willing
ness to suggest that the Virginia Rail-
q way and Power Company stock holders
might make for the purchase OF the
coinpany's holdings in this city and
Norfolk.
While ~ the present state Of the
public mind the declaration or Mr.
could. considered the largest stock
nHider in the company; is OF partieulhr
possible solution OF the divers prob
4 isms relating. to the street railway,
the Gould caulesram is more inclusive.
referring apparently no, only 70 ali
which Include the electrlc light plant
but TO The corporations properties in
Il Norfolk. where tho company owns not
only the street railway and the clcctric
indeed. wheG MIR. Could speaks of Sor-
folk he probably means Norfolk, Ports-
mouth and SUFFOLK. Tor the plants there
+ are connected ana belong TO the same
division Of the system.
President Thomas ". Wheelw,risht.
Company: stated yesterday that the
Gould eabiegram came TO him out OF
slfar Iky ne e.. knew new nothing con
days Times Dispatch, and could not
predict what would be its consc-
Ike other owners of securities. had
3 concluded whats tie use?"
WHEELWnIEHT SAYS GOULD
i4 NEVER SOUGHT 10 DICTATE
MIR. Whcelwrisht sid that MIR. Gould
was a large Stocknoider in the COM
:. l,any. but that he had never sought TO
dictate It's policy o.: make his own
n Views dominant in It's operation.
While Mr. Gould couples Richmond
Aid Norfolk as cities in which muni-
ciEal ownership has been suggested.
m
Z Norfolk. Portsmouth and Suffolk the
been agita;ed to such point that
mass meetings adopted resolutions dc.
tho Whit, RAILWAY and power Com
i,any must be. bought by the city COY,
eminent or else the cities must build
plants of their own.
NORFOLII SOUGHT TO
ACQUIRE PROPERTIES THERE
\ few weeks ago Norfolk's city
Manager. together with other officials
Richmond and told President Wheel
wright. and other o!iiciais Of the com
pany tnas tnrS HesIssu 70 Ghs an ci tne
: Negotiations We're carried on for some
time until. 1t !appearinS thar, a stag
Qrired for tho Undertaking. the propo-
sition. iii 80 far as it applied to the
was dropped and activities were CEN
tered on the ichase OF the gas plant;
& However, nothing DEFINITE has been
& done in regard 10 this. and will not be
the noatins OF bonds would have 10
( take place before this deal could be
ii was probably this Norfolk pro-
posnl more than any Richmond. suE.,
BUSINESS MEN POINT OUT
49, DIFFICULTIES IN WAY
Business men yesterday pointed out
III N,,lt u, nit nj
;sor Richmond accerting. Mr.. Gould's Of
& fer grew out of the fast that in It's
oWer nae IS not ioe
EorfolK. Portsmouth. Petersburg and
and even now a, transmission line is
being completed by the company from
neses Sts IL one
ind Petersburg, and transmits to
Norfols current generated in this city,
case OF municipal ownership is din;
cult TO say. although IL is suggested
that some possible ns schHmG OF GS
' Mr. Gould detiaros .l,at lie will per
sonaily do what he can, to facilitate
municipal ownership plans by ACCEPT.
:nG city bonds "for practically all my
+ interest" In ease Eichmond does de-
eide TO buy tho properties here, or the
street railway lines alone, Il Is thought
4 that this furnishes he easiest way TO
comsun, mate the deal. as a bond issue
would be necessary in any event.
MOST RECENT OFFER MADE
IN REGARD TO YIADUCTS
~ The mos; reccn; offer OF the Vir-
4 sjnia Railway and Power Company to
- the city in regard 20 the sale OF any
8 Of Its properties Is the one relating
( 10 4he .iaducis. This offer was made
u Dctober "A in a letter addressed TO
n Vrdway Puiler. chairman OF the Com
)ni;tee on Streets Of the city Council
ut is "a continui,is otter and Is thus set
y our iii the letter:
3ss:.isrieny, the plan is for the city to
Mcguire all OF these viaducis at fair
value AZ this time. TO be determined
4 by arbitration, payment by the CITY
i for TIE purchase price TO he made by
Z credits to the cit? 10 The extent OF
aDy Increased franchis" tax which this
company would he required 20 pay the
A city upon amy Increased revenue based
u,,On any increase IN rMes which may
he allowed. determined by the excess
OF franchise tax paid for the year end
4 ed June SO. 1915"
81 ries the provi.o that If the city does
/. not pay for the "!uducts within ten
years after the award. then, ut the
anton os the company, the viaducts
silall revert 10 the company.
4 iyIaDICTs BUlLr ny
II ~ THREE SEPARATE COMPANIES
president WheelwrEht stated yes
fefuay that the viaduo's were built
by three sopa:aic corporations. but
- that at present the Virginia Railway
and Power Company stockholders
4owncd all OF the stock OF the company
Which built the Marshall Street VIA
duct and majority OF the stock relat-
Ing both 20 the First Street and the
Gjfth Street Niaduc;s. The bridges
Represented an expenditure OF $780,
St 300. he said
$tsA recent report Of The Council Com
iujttee on Streets stated that the Vr-
SiaG.nia Railway and Power Company
4si,et revenue Of $2i.4s6 from the tolls
or, the viaducts.
Mr. Wheelwrght said that toll
Z bridges within city's limits were by
10 means desirable. but he said that
This condition OF affairs was handed
down to the present company by its
pred ecessors.
oHDWAY FULLER
pa NOT PREPARED TO STATE OPINION
ssLsaAlderman Ordway Puller decluren