The Leavenworth weekly times. [volume] (Leavenworth, Kan.) 1870-1880, 1873-12-11
THE NARROW GAUGE.
Meeting Of the Board OF Direc-
tors Yesterday.
Ratification of the Contract
Made by General Stone.
Foreign Capitalists to Build the
Road Through to Denver.
Work to Commence Early in the
Spring.
~ \ ~ Atpn AnDnfSO-
Full Particulars Of the NegOtia-
lions Made in Europe.
The Success Of the Road Now
Most Fully Assured.
Great Rejoicing Among the
Stockholders.

L
the TIMES in relation to the return Of Gen.
Stone, and the successful negotiation OF the
bonds of the Narrow Gauge railroad created
no little amount of excitement among the
bushes. men of the city, and in fact among
all directly or indirectly interested in the
welfare and prosperity of Leavenworth.
As was announced meeting Of the Board
of Directors was held at ii O'Clock at the
company's Office, to hear the report Of Gen
Stone, and before the meeting wa. called 10
order, many Ct our prominent citizens and
business men called to offer their hearty con.
gra,ulations, and endeavored to learn the de.
tails of the transaction. The meeting was
strictly private, but We succeeded in gather.
Ing from an official source the following in
teresting particulars:
When Gen. Stone, who acted as commits
missioner of the road, reached Europe in
September last, he Immediately took steps to
assemble together the financiers Of London
interested in railroad transactions in this
country, and after presenting the advantages
of the line lie represented. and giving de-
scription of the fertile and wealthy country
through which the proposed road was to run,
submitted the matter of financial aid for their
respectful consideration.
This was on the 18th of September. On
the 18th, and while the moneyed men had
the proposition under advisement, came the
news of Jay Cookies failure and the subse-
quent particulars of the money panic in New
York. This sudden and totally unexpected
phase of affairs somewhat staggered the Gen.
erals faith in the success of his negotiations,
but he kept bravely at work, and while other
parties on similar mission became discour-
aged and left for home, Mr.. Stone chung to
his business with logged determination to
succeed.
On the l9ih he again had a consultation
with the parties, and contract to furnish
the money to build the road through from its
present terminus at Holton to Denver was
drawn up and signed.
BY the Board of Directors at their meeting
Yesterday. 1t provides that the counties
through which the proposed road runs shall
paw 81 900 per mile and the foreign capa-
laIists bind themselves to make up the bal
ance, and build at least one hundred miles
per year till the road is finished. 1t is OPP
tional with them to finish the line in two or
five years. Five years however is the extent
of time allowed. Work will be commenced
in April next and the road will be pushed
forward to a speedy completion. Gen.
Stone SAYS the company with whom he nego-
ticated is very anxious to get at the work as
soon as possible and from their standing and
financial ability he has every reason to be-
lieve that they mean to carry out the con-
tract TO the very letter.
OF course there may be many vexatiOus
delays and discouragements. The speedy
completion Of the work will depend greatly
on the condition of the money market in this
country. The handling of SO great an en-
terprise, with the present fluctuations in
railroad and all cooperate stocks, is fraught
with many difficulties, but when We have
calculated all the possibilities Of delay and
even failure, there still remains a strong
balance in favor of the line being built
as contracted.
The company have passed through many
trials to their present stage Of success. OBJ
stacle after obstacle has been successfully
overcome, and it is with a conscientiousness
that they have put their best foot forward
that the Directors now look to the imme-
date future for full realization of their
most ssngulne hopes. General Stone is
especially to be commended for the marked
ability and nerve which has characterized
his business negotiations abroad. Calm,
confident and shrewd, he has managed; leav.
ing not q single stone unturned, and al
though naturally modest, he takes consider
able pride in having brought about con-
tract involving millions of dollars in q time
of monetary depression and when there was
very little hope of success. 1t is with great
satisfaction that we announce the above par.
ticulars and the future prosperity of the
Narrow Gauge TO our readers. The short
stretch of road already built has been con-
slant source of income to Leavenworth, and
when the road finally strikes its proper ter.
minus in the rich mineral lands of Colorado
the company, as we'll as the city of Leaven-
worth, will be amply compensated for the
expense entailed.
Perhaps then the Kansas Pacific will run
through trains to Leavenworth.