Martinsburg journal. [volume] (Martinsburg, W. Va.) 1920-1977, 1921-04-20

million two h4Hi "A thousand dol
lars OF seven Ut It bonds and &c
provide for the future financing OF
\ The company up TO a limit OF Ave
million dollars. which wac filed for
J record here and will also be record
ed at Martinsburg. Charles Tow L
and Berkeley Springs, the company
gave out this announcement from
its office here:
This mortgage is contained In "a
printed book and is nearly one hun
! dred pages in length. 1t was pre-
\ pared by M. r. Gray Williams, gen
+ eral counsel for the Northern Vir
ginia Power Company, approved by
Judge Henry d. Harlan, for the
Fidelity Trust Company and also ap
proved by counsel in Baltimore for
bankers who purchased large
number of the bonds"
Nearly twenty-four printed pages
or the mortgage is occupied with a
description Of the property in Mary
land, West Virginia and Virginia
! that is conveyed to the trustee to
secure the bonds. In addition Ia
the real estate. machinery and
| other property conveyed there is
also conveyed to the trustee twenty
| five hundred shares. being all the
common stock in the Potomac Light
and Power Company Of Martinsburg,
! w Va, and twelve hundred and
| ninety shares Of the preferred stock
of said company. The mortgage
explains that the purchase OF tGz
stock by the Northern Virginia Pow
er Company gives the Northern Nir-
ginia Power Company complete con.
troll of all of the companies furnish
ing electric power south of the Pc
tomac river, in the counties OF Nor
gan, Berkeley and jefferson, w. Va.
and the counties of Frederick.
| Clarke and Warren. Va. and in
the cities of Martinsburg and Win
chester =
Office at Winchester.
It was stated by an officer of the
company that the Northern Virginia
Power Company would continue its
principal office i'll Winchester and
that its board of directors would
continue to he Emory l.. Coblentz, OF
Frederick, Md; Shirley Carter, r
Is. Patton. r. Gray Williams, of Win,
C'aster and II. {. Warden, of Der.
He, Va.
i00m the recordltion of this mort
-. it also became apparent that
iF2ge"stown and Frederick Rail
Company has now paid in casn
full for all the stock in the North
Virginia Power Company for
lmerly held in the company The
NrprtI,ar,, 10 Tout
err Company, therefore. is now own.
ed by the Hagerstown and Frederick
Railway Company and one of the
Mccall officers of the company com
fmented upon the strong financial
condition of the Hagerstown and
Frederick Railway Company that
Benabled it to pay in cash during
these times OF tight money for all
the stock in the Northern Virginia
Power Company.
Emory l.. Coblentz who is presi-
dent of the Hagerstown and Fred
erick Railway Company, is also
president of the Northern Virginia
3Power Company Shirley Carter
will continue TO be secretary and
|treasurer, with c. W. Hansbroueh
e., and r Gray Williams as general
coureel.
The comply will be operated from
the Winchester Office as heretofore
Ibut the service to consumers will
he strengthened by the connection
nlready made with the large steam
yeenerating stations of the Hagers
town and Frederick Railway at Sc
curity, Md, and by the two water
power developments of the Potomac
Company now owned by the North
fern Virginia Power Company on the
Potomac river
More Than $500, 900 Expended In
Improvements.
In addition to this the mortgage
states that the Northern Virginia
Power Company has expended up
wards OF six hundred thousand dol
lars in the enlargement and inn
proyement Of its generating station
lat Millville, the building Of a rail
road that connects It's MillVille plant
with the i"'imore and Ohio Rail
road and the e..,elsIon Of its trans
mission lines. one new transmits
sion line has been built from Mill
willie to Harpers Ferry, thence along
the canal 10 Weyerton, thence along
the said route to Frederick The
poles have been eected more than
ona-half the way to Martinsburg
and by the end of the summer it is
Expected that the high tension trans.
mission line from Winchester to
Martinsburg will also be in opera
tion thus giving Winchester two in
[dependent sources Of power supply
and preventing interruption TO ser.
! vice.
In the mortgage there Is conveyed
nearly one hundred and fftv miles
OF transmission lines, the generating
station at Melville. the railroad
from Melville to the Baltimore and
Ohio, the generation station at Caca.
pom near Berkeley Springs and all
other property of the company Of
every description now owned or that
may be hereafter acquired.
Bonds Not Issued Limited to
st.2oo,ooo.
The oily beHds now issued ar
.welve oHni. ~ thousand dollars.
lated Anril lt22f. bearing seven
ercent intereat payable semi-an.
9ally Provision is made in the
ortga2e ior the issuance of bonds
in the future only for the purpose of
improvements, additions and better