From the Richmond Times-Dispatch, 10/21/1915, p. 14, c. 5

Thomas S. Wheelwright Says Old Dominion Iron and Nail Works Is Not Purchaser.
Generally Believed That Local Interests Are Acting for Charles M. Schwab – Miller May Be in Deal to Buy Famous Plant.

The reticence of Colonel Archer Anderson and is associates in the Tredegar Company, regarding the negotiations for the sale of the Tredegar Iron Works, has caused considerable speculation as to the identity of the interests who have secured an option on the property. It has been well established that an option has been given on the plant and that the purchase price named is in the neighborhood of $2,500,000, but further than that no one appears willing to speak with authority.

Thomas S. Wheelwright, vice-president and general manager of the Old Dominion Iron and Nail Works, which has let contracts for the erection of an extensive electrical steel plant on Belle Isle, yesterday denied that his company, which is affiliated with the Gould interests, has any connection whatever with the deal for the Tredegar Work. Mr. Wheelwright said work is progressing on the Old Dominion improvements and he hoped to see the plant in operation early in 1916. The general belief in usually well-posted circles is that the option has been taken by local people in the interest of Northern capitalists, presumably Charles M. Schwab. A number of Richmond capitalists have been mentioned in connection with the option, but so far as is definitely known the men conducting the negotiations are not letting their identity become public.


It is pointed out that no option would have been given by the Andersons, who are known to have a sentimental, as well as big financial interest at stake, unless the amount put up by the prospective purchasers was considerable. There is little reason to believe that the option was taken for speculative purposes, and this fact lends color to the reports that the Schwab interests, which have been buying up plants in various sections of the country, are after the Tredegar Works.

Oliver J. Sands went to New York Tuesday night, but his visit to that city is said not to have any direct connection with the Tredegar deal. Mr. Sands and W. T. Dabney, business manager of the Chamber of Commerce, were with W. R. Miller representing Pittsburgh capitalists on several visits he made to Richmond for the purpose of inspecting sites for a steel plant. In Bristol last Saturday, Mr. Miller stated that his principals had practically decided to build a plant in Richmond.

It has been suggested that there may be some connection between the Miller proposition and the Tredegar negotiations, though other sites were looked at by Miller while in Richmond.

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