CHEAP ELECTRIC POWER.
One of the greatest enterprises in point of scope and ambition, together with the sweeping changes which it contemplates, of the many that have had their inception in, and for Troy and vicinity, is about to be projected. It proposes the change of base of a number of established plants in Troy and in other cities and its developments will be awaited with great interest by Trojans.
A bill to incorporate the Columbia County Electric Company has been introduced in the senate by Senator Daley. The incorporators designated were Charles Wild, his sons, W. II. and Nathan P. Wild, and others. The object of the company briefly stated in the articles of incorporation, was to build three dams along the Kinderhook creek, in Columbia county, one at Yalatie; to have a fall of seventy-five feet; another at Stuyvesant Falls, and the third at Stottsville.
It has developed that the enterprise promises more than appears upon the surface. The three dams will gather water with which electric power will be generated to supply all applicants and pure water will also be sent to town throughout Rensselaer and Columbia counties. The storage capacity to be arranged for, it is said, will be immense,and each dam will have a plant of its own. The three plants will then be connected by circuits, thus insuring a continuity of force and a strength which hardly can be approximated.
The sum of $5,000,000, it is estimated, w ill be expended by those having the scheme in charge, and the appointments of the plants will be equal to anything of the sort ever attempted in this country. The company probably will be capitalized at $10,000,000. The Wilds have interested a number of New’ York capitalists in the project and they have the assurance, it is said, of ample capital. It is also said that a number of moneyed men of London, England, have become interested in the scheme, and that men with means in other commercial centres have attested their desire to take blocks of the stock of the new company.
The point of local interest in the project, aside front the extent of the plans, is the fact that the Troy City Railway Company is said to have been approached with regard to using the power to be furnished by the new company. 1’he Albany railway also has been dealt with on the subject, and it is said that it is disposed to listen to the project. Should the companies in question decide to utilize the power of the company, which, it is claimed, can be furnished cheaper than it can be by the individual companies in their houses, it would have the effect to do away with the power houses now The distance from Troy to the nearest proposed plant is about twenty-five miles, and the current will be transmitted by means of wires which will be stretched across the intervening space,
A similar project in the St. Lawrence valley, says the progenitors, was a success A canal was cut from the river five miles into the country, and then back to the river after the desired water power had been secured. It is proposed to proceed with the dams in the K inderhook upon the same principles as those on which the St. Lawrence scheme was carried to a successful point. A number of stockholders in that enterprise, it is said, are interested in the recently organized company, and thev will back it to the finish.
A government engineer looked over the field the other day and pronounced the plans to be altogether feasible and to possess elements that will make their success only a matter of the lime which may be necessary to carry them out. He said that the topography of the country is encouraging to those who mean to work the enterprise, and that the scheme presents more to him than it was represented to him to carry.
Options have been secured upon all the land that it is desired to utilize. The work to secure the options was carried on in a quiet manner and without in the slightest degree exciting the suspicions of those who were dealt with, with the result that this announcement of the real purpose of the objects of the new company will come like a thunderbolt to those who assigned the ‘ refusal “of their property to the prospec. tors on a ** blind.”
The Wilds, who undoubtedly will remain at the head of the new enterprise, are level headed business folk. They are engaged in the operation of a number of cotton factories at Valatie, and they have the reputation to succeed in whatever they undertake.
The intention to furnish pure water to villages in Rensse laer and Columbia counties is but the secondary motive of the company. Its principal feature will be to furnish power to parties requiring such service, and the cheapness with which it is intended to do this is interesting.