User:I hope this username is available./The Daily Gate City Vol. 108 No. 101 Signed the Water Power Contracts

I am researching the history of Ameren Corporation and its subsidiaries to validate and perhaps add more context to related articles. To that end, I am transcribing secondary sources of events pertaining to them including newspaper articles.

This one is from "The Daily Gate City" on October 27, 1908. It talks up the coming hydroelectric dam, now called operated by Ameren Missouri as the "Keokuk Energy Center".

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Eastern People Now Own the Franchise for Building the Fifteen Million Dolar Dam.

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JUDGE LOGAN A DIRECTOR AND ONE OF THE VICE PRESIDENTS.

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St. Louis Depending Upon the Building of the Dam to Furnish it With Power for Lighting, Power and Street Cars and will Pay One Million Dollars a Year For Electricity Generated From the River.

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$25,000 Bond is Given by the New Company that it Will Fulfill the Wishes and Prophesy of the People and Harness of Father of Waters at this Point.--A Payment of $20,000 was Made and the City of Keokuk Will by Repaid the Money it Donated for the Use of the Water Power Directors.

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The Keokuk and Hamilton Water Power Company was reorganized yesterday afternoon and evening at a conference between W. V. N. Powellson of the firm of Cooper & Powellson of New York City, other eastern men and Judge William Logan, A. E. Johnstone and C. P. Dadant representatives of the Keokuk interests.

The meeting was held at the office of R. R. Wallace at Hamilton during the afternoon and in KEokuk during the evening, it being midnight before the final arrangements had been made. During the afternoon and evening at least fifty telegrams were sent and received bearing upon the transaction which was one of the greatest commercial transactions ever held in Keokuk, although it was but the transfer of a $2,500 corporation from the hands of a groupe of Keokuk men, to eastern capitalists.

The Same Name. The reorganized company retains the same name as before, the Keokuk and Hamilton Water Power Company, but its office will hereafter be at No. 60 Wall street, New York City, instead of in the offices and homes of Keokuk men.

One Keokuk man remains with the company, Judge William Logan being made of the the board of directors and a vice president of the company.

The New Directors The new officers are as follows: President, W. V. N. Powellson, of New York.

Vice president, William Logan, or Keokuk.

Vice president, Hugh L. Cooper, of New York.

Secretary-treasurer, J. P. Allen, of New York.

Director, W. J. Curtis, of New York.

Director, John Huntjer, of New York.

Director, J. A. Drabelle, of St. Louis.

Committee of Three. Over three years ago, the members of the Keokuk and Hamilton Water Power Company, twenty-five men of Keokuk and Hamilton, turned over to a committee composed of William Logan, John N. Irwin, A. E. Johnstone and C. P. Dadant, by power of attorney, all of their rights and privileges in the company, a committee being more energetic and useful than a full list of the members and since that time this committee has donevirtually all of the work in connection with the project. Mr. Irwin passed away shortly after the comittee had returned from Washington and the three surviving members of the committee carried on the work from that time on, the power of attorney providing for such a case.

Paid $20,000 Cash. This committee effected the reorganization yesterday. First cam the resignation of the former directors of the company, which were accepted and then the committee turned over the old company to the new company and received $20,000 in cash for the transfer to Mr. Cooper of the water power franchise. Mr. Cooper has held an option on the francise for three years and the money turned over is part of the expense paid out by the old company duringthe progress of the work since the late C. P. Birge organized the company in December, 1899.

Financing the Project. The new board of directors and officers was sleected and will hereafter attend to all of the business of the water power project. the main thing now will be to finance the project, but with the tentative contracts entered into with the St. Louis people, there seems but little anxiety now on this phase of the work, for thirty per cent of the power is virtually under contract and an income of one million dollars per year is already in signed for less than one-third of the output of the plant.

Keokuk Gets $4,500. The committee yesterday assigned to the new company, all of the stock in the corporation and agreed to pay all present obligations which include about $4,500 advanced by the city of Keokuk and nearly one thousand dollars by Hamilton. This money was given outright to the old company for expenses several years ago, but the cold company would not accepted it but with the understanding that if possible, it owuld be returned to the cities at some future date.

The $20,000 Payment. The $20,000 received by the committee will be distributed in this manner: The city of Keokuk and the city of Hamilton will be reimbursed in full for every cent donated in the past. All debts of the old company will be paid and the balance will be divided among the old members of the company, each of whom put up $100 when the company was formed in 1899. Of the twenty-five original members, but two have passed away, the late C. P. Birge who was the prime mover and president of the company until his death and the late John N. Irwin.

The Old Company. This old company, formed nine years ago is incorporated under the laws of Illinois for $2,500, but that amount has been paid in over and over gaain; the company making assessments among the member swhenever there was need for more money. the members contributed freely and cheerfully for it was for the good of hte city and there were no complaints at any time.

The New Company. The new company will probably re-incorprated in New Jersey or some other state and increase its capital stock and made changes in the by-laws, or a power company will be formed, for the water power lant could not very well be built by a $2,500 stock company, for it will cost fifteen million dollars to erect the plant.

The power of attorney fiven April 1, 1905, is reproduced herewith in order to show the names of the members of the old company and how they agreed to let the work by carried on by a committee.

We, the undersigned stockholders in the KEokuk and Hamilton Water Power company, and each of us, do hereby appoint John N. Irwin, William Logan, C. P. Dadant and A. E. Johnstone as our proxy and representatives in the matter of theh andling, voting and disposing of our stock in the Keokkuk and Hamilton Water Power Company and we and each of us indibvidually for hismelf, do hereby grant, authorize and empower the said John N. Irwin, William Logan, C. P. Dadant and A. E Johnstone, jointly, to have, hold,use,vote andtransfer by sale or otherwise, our stock in the said Keokuk and Hamilton Water Power Company, it hereby being the intention of each signer to this proxy or power of attorney, to fully authorize and empower the said John N. Irwin, William Logan, C. P. Dadant and A. E. Johnstone, or the survivor or survivors of them, to have full power and control of the stock represnted by us and each of us in said company, and full power and authority is hereby granted said persons abovce named, their survivor or survivors, to jointly take action in, with and for us as stockholders of such company, as to them jointly may seem best, hereby ratifying any and all acts done by said persons agove named, their survivor or survivors, the same as if we had made such negotiations, transfer or both, ourselves.

Dated this first day of April, 1905.

JOHN N. IRWIN, A. E. JOHNSTONE, WM. LOGAN, WM. BALLINGER, B. P. TABER, R. R. WALLACE, C. P. DADANT, S. R. PARKER, R. S. GORDON, JOHN I. SPENCE, J. H. COLE, C. H. ALBERS, D. A. COLLIER, WELLS M. IRWIN, DAVID J. AYRES, F. W. DAVIS, J. B. WEIL, H. W. HUISKAMP, J. F. DAUGHERTY, L. A. HAMILL, C. R. JOY, W. B. COLLINS, JAMES CAMERON, T. F. BALDWIN.

And that about completes the story of the re-organization of the KEokuk and Hamilton Water Power Company which was organized by the late C. P. Birge, nearly ten years ago. The new company still retains the old name and Keokuk is represented by one officer and director, but the company's office is moved now from Keokuk to New York City.

Deserve Great Credit. Those men who were members of the old company deserve a great deal of praise from the pwople of this community for their faithful work and sacrifices made during the existence of the old company. It was through their efforts, support, labor and money that the new company was formed and the present flattering condition of affairs was arrived at. These men never faltered in their work, never lost courage and enthusiasm and deserve just as much credit for what they have done, as willthe actual builders of the great plant.

Since April 1, 1905, the work has mostly been done by the committee of three. For some time past Hudge Logan has held Mr. Cooper's power of attorney and has represented him in KEokuk. Mr Johnstone and Mr. Dadant have also been hard workers in the cause right along and now all of the Keokuk and Hamilton men retire from the field excepting Mr. Logan whose energy and ability has been of great service. All of the loyal citizens of KEokuk and Hamilton, who worked faithfully on the project, will some day receive the proper credit due them for theiryears of incessant labor for the good of this community.

Contracts Made. The reorganized company entered into some tentative contracts with the St. Louis people as told exclusively in last evening's Gate City. By these contracts, the water power company agrees to furnish St. Louis electric companies with enough power to supply that city with most of its lights, street cars and commercial power.

It is understood that these contracts call for an expenditure of about $90,000 per month, or over a million dollars per year to the Keokuk plant.

These tentative contracts are of course, signed providing that the water power plant is built, but the entering into of these contracts gives the company a great leverage toward securing fifteen million dollars needed to build the plant.

Capital Will Listen. Capital will lend a ready car to a proposition which can show in black and white, a promised income of a million dollars per year for one-third of its output. St. Louis alone in fifteen years would pay enough to build the dam, without reckoning the other incomes from every city within two hundred miles of Keokuk and Keokuk itself.

St. Louis is 176 miles away but it has been carefully worked out that electricity can be transmitted without any great loss for that distance and that St. Louis can receive power from Keokuk at a lesser cost than it can be produced there.

By these contracts, St. Louis’ street cars will be operated by the rushing waters of the Mississippi river at Keokuk. St. Louis’ electric lights will shine by courtesy of the Des Moines rapids and St. Louis’ factories will hum through the force of the waters opposite the bluffs of good old Keokuk. Keokuk will became the power head of the greatest city of the west.

St. Louis is Not All. St. Louis is not the only city which will derive power from the Keokuk water power dam, but so far it is the first one which has entered into any kind of a contract with the Keokuk and Hamilton Water Power company.

Within a lesser distance than St. Louis are many other large cities, such as PEoria, Quincy, Davenport, Burlington, Ottumwa, all of which would contract for from 2,000 horse power up. It would be to their interest to do so, for the Keoku plant can furning electric power to companies at a lesser cost than they can now produce it with steam.

A Small Per Cent. KEokuk will not lose the benefits expected from the building of the water power. Some people have put on long faces and mournfully asked "What good will the water power do Keokuk if the power is sold at St. Louis?"

It should be realized that the entire city of St. Louis could use but 30 per cent of the power, leaving 70 per cent to be distributed to other points and to be used here in Keokuk.

Keokuk at the present time uses less than 2,000 horse power electric. The Keokuk water power plant will generate 200,000horse power or just one hundred times as much as Keokuk now uses.

Will Not Hurt Keokuk. A little figuring will show the most skeptical person that the selling of a million dollars worth of power pe year to ST. Louis will not hurt Keokuk in the least.

Supposing St. Louis takes 30 per cent. Supposing other cities take another 40 per cent; this would still leave 30 per cent here, or enough to supply a city the size of St. Louis at present and Keokuk can grow to that size before the power would give out.

So no one need to worry about the transmission of power, unless they are troubled with the thought that Keokuk may never be larger than St. Louis.

No Occasion for Alarm. There is no occasion whatever for any one to have the faintest trace of worry about the transmission of power to other points, for the reasons stated above.

Keokuk being the location of the power plant, the first power would be sold here by the company. The greatest market would be that nearest the plant and the management would rather sell its power right at the door of its plant than to lay expensive cables to transmit the power a hundred miles away.

When the power plant is built, there would be no danger in manufacturing enterprise not coming here to share in the benefits of cheap power and it such a thing should ever occur that Keokuk and this vicinity should grow into a metropolis or great manufacturingcenter, the power would be withdrawn from the outlying districts as rapidly as it could be and supplied here.

The alarm which some pople have about the St. Louis feature of the water prower project, is entirely groundless for these reasons and for many others. KEokuk will be the greatest gainer from the building of the power power plant.

No Occasion for Excitement. While there is no occasion for alarm, it might truthfully be also stated, that there is no occasion for anyone to raise false hopes. The water power is not assured by any means and the plant may never be built, but prospects were never brighter and the aspect never looked more favorable.

The new company has faith in the ultimate building of the plant. IT is endorsed by engineers, by the government, by rivermen, in fact by everbody. But one step remains--to raise $15,000,000 to build the plant.

Cooper Gives Bond. Mr. Cooper has given the KEokuk people a bond for $25,000 that he will build the water power.

He has pledged himself to them, to either build the water power dam, or forfeit $25,000 in cash.

This was agreed upon at the meeting yesterday and Mr. Cooper agrees to pay $25,000 to the KEokuk committee in cash in case he does not build the dam.

This shows what Mr. Cooper thinks about the matter.

He has spent $100,000 already himself on surveys, plans, legislation, etc., and is heart and soul in the work.

He had anoption on the franchise issued by the government of the United States and yesterday, bought this franchise. IT was to be turned over tohim free of chage if he agreed to build the dam and he not only agrees to build it, but gives a bond of $25,000 as a fgurther promise that he will carry out the plans.

Everybody hopes that Mr. Cooper will never be called upon to make this payment.

After Election. Representatives of the power company and the office of Mr. Cooper have stated several times recently, that the work of financing the water power project would be taken up in earnest right after electrion, which is but a few days off.

Mr .Powellson leaves this evening for Chicago where he will meet Mr. Cooper who is on his way to Montana.

Meeting of Old Stockholders. There will be a meeting this evening at 7:30 at the STate Central Savings bank of the old stocholders of the Keokuk and Hamilton Water Power Co., at which as statement will be made to the stockholders of the action of the directors at the meeting held in Hamilton yesterday afternoon. The $20,000 paid by Messers. Cooper and Powellson will be returned to the stockholders, the City of Keokuk getting back $4,500 invested in the enterprise for the purpose of sending the committee to Washington at the time of the securing the passage of the bill. It looks now like the investment would prove to be a most profitable one.

Return to New York This Evening. Messers. Powellson, Allen and Hunter will leave this evening for New York City where they will again take up the work of the Keokuk water power proposition. These gentlemen met many Keokuk people while here and made a number of acquaintances and in each instance made friends. Mr. Allen is no strenger to Keokuk people and he will probably be a frequent visitor within the next twelve months.

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SOME DATES OF WATER POWER

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When the Various Bills Were Passed By Congress and When Cooper First Took Charge.

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Here are some of the most important dates in the water power agitation:

1905, September 15. Hugh L. Cooper agrees to look into the project and if the plan is feasable, to build the dam. At this time he was given an operion on the government franchise.

1905, January 27. Water power bill passed by the house.

1905, February 2. Water power bill passed by the senate.

1905, February 9. President Roosevelt signed the water power bill, granting a franchise to dam the river.

1908, October 26. Water power company reorganized.

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BEGGS IN ST. LOUIS.

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Man Who Visited Keokuk and Investigated the Power Proposition is Non-Commital

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The following is from the St. Louis Post-Dispatch and refers to Mr. Beggs, who several months ago visited Keokuk in company with Mr. Powellson and other St. Louis men:

John I. Beggs of Milwaukee, who is running the public service corporations of St. Louis for the North American Co., arrived in the city Monday. While Mr. Beggs is here it is expected that the question of whether Arthur Williams will return as manager of the Union Electric Light and Power Co., will be determined.

W. M. N. Powellson, former president and general manager of Union Electric, who is assiciated with Hugh L. Cooper of New York, left St. Louis Sunday night. Mr. Powellson spent a week in St. Louis in connection with a water power electric plant that he and Mr. Cooper propose to erect at Keokuk, Iowa.

Although Mr. Powellson left St. Louis before Mr. Beggs arrived it is understood that contracts are ready for signature by whcih the local plant will obtain electric ucrrent from the Keokuk power station.

Mr. Beggs refused to make any statement about his plans.

Capt. Robert McCullough, vice president and general manager of the United Railyways, denies that he is to retire from the management of the transit system in the pspring, as was stated in a morning power Monday.

It was said the Captain would be succeeded by his son, Richard, now superintendent of construction, when the former's contract expired in April. Age was given as the reason for the expected ritirement of Capt. McCullouch He denied that he ever had any contract with the United Railways and made the following statement to a Post-Dispatch reporter:

"The writer of the story which appeared in a morning paper drew on his imagination for all he said, as there is not even a suggestion of facts in any poart of the story which relates to myself."