Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-07-30

S' "a 1'''"ti rom flrSt PaEc.)
try because OF IT'S location on the
James River.
York River Not Ninimi.cd.
MI Darlington. In a speech o, OK.
PLANTATION last night. declared Inn,
promoters OF tho Richmond. N,w Yorl,
steam ship Company do not, in PRESS
ing immediate consideration of tbcI-
enterprise. minimize the Importance
or the value 90 York River. at Yves,
FONT, as deep sea outlet, bu, thcy
are asking supper; or this undertake
ing now because of the vital neccs-
SHY of the trau"portation 1t offers
Oliver j. sands, one of the most ar
dent advocates OF the York River
project, said that Richmond mus: take
advantage Of what i, has today.
leaving the bis; things for consid-
Grafton In the future, and urged that
all publ!csp!rited citizens rally
around the Richmond New York
steamship Company. lie subscribed
$1,000 last night. other subscriptions
We're j. W. FERGUSON 6 Sons, $1,000;
]. j. Marcusc. $4,000. THIS being a
change from $1,000; and \. iIocn &
Co. $1,000. Scvera! other members
OF large firms promised subscriptions
as soon AS they can reach their
board, Of directors. John G. Goodc.
of the United COMMERCIAL Travellers
said his organization indorscd the
movement at it's last meeting, and
VIII help IN the campaign for sub
ScriptionS. Endorsement was prom
iscd by u representative OF the Trav-
clcrs' Protective Association at its
next meeting.
Both Oliver j. Sands and w. Meade
addison said the banks would lend
every assistance to their customers.
in keeping with good banking prac-
ticc. in securing funds with which
to subscribe 20 the stock.
River Traffic Spells Success.
Woodson Waddcy. in a brief speech.
declared a runner in competitive
race had just as well cut off one
foo; and expect 10 win as FOR Rich
mond to turn down the opportunity
OF making river traffic success.
Similar sentiments were expressed by
|. !. Marcusc, Marvin ). knight. vino
appeared on behalf OF the Richmond
Advertising Club; ". 7. Dabncy.
business manager Of the Chamber Of
Commerce: j. r. Ey!and, oscar j..
Parrish and others.
The boat line is assured. Two
boats, the Lake Frarccs ana the axe
Sterling. having already been !'Hr-
chased. These steamers are nov De
ing located and will be passed ~ ~
tn. shipping agents of the Hichnonu-
New York Steamship Company Win
every assurance that service WI! nr
resumed on the river at an carly
business men Of the city are ANXIOUS
tina the response of potential pvnt-
appreciation o: efforts that have been
made IN their behalf.
y prospectus ISSUED by the com
pany gives tnts information:
the contract Win Harris, MaE!I!
< Company, sa,ppins AGENTS ano
brokers, OF New YORK, by which ;h'y
become Operating agents, paying into
The treasury OF the coiirany ptf
000) Of the first net earnings o: the
company, after which. up TO IL
per cent .! tn. gross earnings, ilar-
r!s. Mag!ll &; Company participate ~
a. their remuneration.
There is no reason why our incr-
chants and manufacturers cannot
expect prompt relief from the conSeH-
tion That now exists and viii be,
come worse III getting freight - ahi
from New YORK.
Diyidcnd-PayinE Perfect.
From a dividend point of view,
there IS no way TO make any. accu-
rate estimate, as the division Of
freight with the railroads. tn. OK
pcnsiyc rcloadinS in Norfolk and no
separation OF tonnage being avail
able. makes it impossible 10 gc. at
the amount OF freight accurately that
can be secured from Richmond ana
intermediate points. However. the
superficial Investigation by shipping
agents has G!vcn them the opinion
! that a suilio,cnl quantity of trciEat
can be secured on fair and salts
| line on u dividend paying basis.
Scvcra! %! the leading banks have
. siGniicd their purpose tU help h.
Offering to loan their customers 10
I per cent on stock. provided satisiac-
tory terms are made as TO gradual
! curtlilmcnt OF these notes.
/ The report OF the chief of enSi-
nccrs OF the United States Army 10
| the War Department shows that there
| is sufficient depth of water not 10
| have any serious interference from
/ this cause, and General Taylor. of
] funds Tor dredging channels. has.
! through Commander Lowell, given the
| committee assurance that S2OO,cpO is
! now available 10 begin immcdiai :
/ work. which he will do as soon as
navigation on James River is re-
! Sumcd.
Considerable Roadway has heca
! made in receiving stock subscriptions
! 10 this steamship line. and the COM
mittcc is now ut work on plans to
! put this matter before every inter-
.cSted citizen OF Richmond. which will
interest in our city. whether they. are
manufacturers, merchants. bankers
or real estate owners.
There Is nothing that has develop
cd Richmond more than the enjoy
mcnt of freight rates based on water
q s.N,, n fp g. L.