Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-08-06
BOARD OF TRADE.

| BOARD OF TRADE.
Discussions of the Narro,c Gauge Rai1roa d
--Undninsous Feeling That 1t Should be
| Encouraged.
The regular monthly meeting of the board of
trade was held yesterday at o'clock A. NJ,
President Washburn in the chair.
The first business in order was the reading of
the secretarys monthly report, which was read
| and filed.
anime into the proposed narrow gauge railway
scheme, submitted the following lengthy re-
port:
Your committee to whom was entrusted the
duty of soliciting individual subscriptions to
! 900 of the first mortgage bonds OF the
| Hutchinson division of the Minneapolis &
Northwestern railroad. respectfully submit the
| following:
During the last two months we have present
ed this subject to a large number of the bust
ness men of the city. We find unanimous
opinion that the enterprise is one of great val
ne and Importance to this portion of the State,
and especially to this city. But we find in this
city very little unemployed capital at the COM
| mand of the friends of the measure. A part
of the $4,000 asked for could of course be
raised by private subscription, but to raise In
this way the full amount would at the present
| ing. There is, moreover, feeling
among most persons with whom we have con-
| ferred, that since the benefits to arise
from the construction of this work will be felt
by all, the property of all ought to contribute
| to the enterprse-in short, that the city in her
corporate capacity ought to give her bonds for
| the amount asked for bonus to aid in the
construction of the road. And your committee.
convinced of the Justice of this view of the
case, and of its eminent fairness and equity,
| have determined to recommend to the board
and to the citizens, to petition the city coun-
Gil according to law to call an election at which
this question shall be submitted at an early
day. The advantages of this line are many
and obvious. 1t will skirt almost the entire
south shore of Lake Minnetonka, and will thus
afford the greatest facilities for reaching that
summer resort for Minneapolis. 1t will run
for twenty-five miles through the best part of
the big woods, thus developing a new and ex-
tensive supply of hard lumber copper stuff
and fire wood and will cheaper rates on the
produce of extensive district and render it
commercially tributary to this city for all time
to come. 1t will form link in the Des
Moines & Minneapolis railroad, stretching by
means of that line and its connections
without break of gauge the
center of the State of Iowa, across the western
part of Missouri and far into Kansas, opening
those great prairies to our lumber trade and
bringing this city into commercial relations
with a great region in our own State which is
now to almost unknown. To build this
Hutchinson link is the cheapest possible way
to aid and hasten the building of this great
Minneapolis u Des Moines line to this city.
This link will also naturally form the stem and
nucleus of at least two considerable extensions
one to the southwest, crossing the Minnesota
river in the neighborhood of Redwood Falls,
the other leading west through tee unoccupied
strip of country south of the st. Paul q Pacific
railroad into, and even across Dakota, and In
the future not improbable to the Black Hills.
1t is seldom indeed that u scheme containing sc
many points of advantage can be carried out at
so small an outlay to the inhabitants to this
city. 1t should also be remembered that i'm
mediate action is necessary. The great Chica-
go lines are at this moment pushing their way
into the country northwe st of this city which
is naturally tributary to us. Lake Kampeska
the terminus of the Chicago & Northwestern, is
due west of this place. Granite Falls, tie
present terminus of the Hastings u Dakota
branch of the Milwaukee q st. Paul railroad Is
not ten miles south of west line from Mime.
apolis. The latter company has offered to iron
and run a branch from hutchinson to thell
road if the Hutchinson people will Withdraw
their subsidy from this line for the purpose Of
grading the branch. Unless something is done
by this city soon, the Hutchinson people can
not be blamed for accepting this offer of the
1T would defeat the building OF this line and
deprive this city of direct and easy communi
cation with one-thrd of her legitimate terri
tory. The assets of the company undertaking
to build this Hutchinson road have been place.
in the hands of James B. Alexander, civil en-
gineer and railroad man, and resident OF thu
city, to be used in building this road. Thes
assets are first mortgage bonds of the roat
amounting to 81, 900 per mile, which are the onl.
bonds to be issued and stock of the road to tn
amount of $3, 900 per mile, these bonds and stool
to be issued in installments as the road is built
In addition to the above local aid to thu
amount of So, 600 per mile was stipulated TO
in the contract with Mr.. Alexander, and expect
ed to be raised before the work should begin
The bonds and stock are to be used IN the pur
chase of iron and rolling-stock and in raisin:
the balance of the money necessary to carry o.
the work, from parties in the East. Fifty-6v
thousand dollars have been voted by the variou
towns along the line as bonus to the enter
prise.
The amount of $40, 900 asked for from Mime
apolis will still leave the local aid considerable
below the amount stipulated iii the contract
But with that sum the contractor believes h
oan go on with the work.
1t is proposed to lay a third rail on the Min
, neapolis 81 st. Louis from the city to
point near Hopkins station for which it is TN
derstood the consent OF that company is prom
/ ised, and from that point separate line. 1t
asked and recommended that one-third of tn
bonds donated by the city be delivered to tn
J
: cars running to Excelsior, one-third when the
g are laid to Watertown, or an equivalent dis
q tance and the rest when the road is built t
Hutchinson. While it was first contemplate
to ask the city to subscribe for the bonds G
a the railroad it has since been found that thi
form of aid cannot be adopted under the Law
s. hence the mode of rendering assistance b
# bonus, as herein recommended, is the onl
d alternative.
In conclusion, your committee desire to stat
:, that they are fully aware of the burden G
~ debt and taxes now resting upon this city, an
for this reason they have fixed upon the leas
a sum as aid by which the enterprise can
carried through, and they make this recon
) mendation after a careful consideration of th
I. matter, sincerely believing that its adoptio
Il will conduce to the best interests of the city.
y S. G. GALE,
- GEO. B. WRIGHT,
!, :, nj. G. WHITE,
u J. B. BAssETT,
Il Committe
The reading of the report was followed by
general discussion, participated in by sever
members of the board which developed vel
J. decided sentiment in favor of raising the pr
y posed $4,000 asked for.
d On motion, committee consisting of S.
~ Gale, William Petit and E. S. Corser was az
pointed to consider the subject further and L
port at a called meeting of the board.