Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1881-06-01

family nave the sympathy OF all,
We have too many fine straw hats.
We will sell them very low.
CHRAP CHARLEY.
Common Council Proceedings.
Called meeting MAY %, 1881.
Present-His honor Mayor Dorr and
full board of Aldermen.
Mayor Dorr stated the object of this
called meeting was to consider q certain
proposition from the "Austin Railway
Company" asking aid from the city Of
Austin in the construction Of its road !,
the same now being on file with the CITY
Recorder.
Tbereupon, the City Recorder read to
the Council SAID proposition of which the
following is true copy:
1.-THE Austin Railway Company makes
the following proposition to the city Of
Austin, in the county of Mower, state OF
Minnesota:
That the said Railway Company will
construct line of railway from some
point on the line of the Southern Mime
sofa division Of the Chicago, Milwaukee
& st. Paul Railway east OF Ramsey to in
tersect the Iowa s. Minnesota division of
said Chicago, Milwaukee & St. Paul Rail-
way north of or at the city OF Austin, afore.
! said, upon condition that the said city of
Austin will issue Its bonds to said Austin
Railway Company to aid in the construc-
! ton Of said line OF railway to the sum and
amount Of twenty thousand (20,00W dol
| lars. Said bonds TO be made payable to
the said Austin Railway Company, or
! order; to become due and payable in
twenty years, from the date of their issue,
but payable at any time after ten years at
the option of said city of Austin; aud to
have interest coupons attached al the
rate OF six per cent. per annum, payable
emi-annually. Ten thousand dollars of
said bonds to be paid over and delivered
to said Austin Railway Company when
the grading Of said line of railway is
! completed and the ties laid til ereon, and
| the balance when the iron il all laid
and the whole of said line of railway is
| completed ready to be used and operated
in the transportation OF freight and pas.
eengers by the methods usually and ordl-
narily employed by railway companies
Said bonds to be issued as soon as may
be after the acceptance by said city OF
Austin of this proposition, and deposited
in the hands OF Harlan w. Page, Fay r.
Smith and Charles H. Goats, as trustees,
to be delivered to said Austin Railway
Company as fast as it shall become en-
| titled IS the same by compliance with
! the terms and conditions Of this PROPOSE
ton.
And the said Austin Railway Compa.
ny does further propose, in considera.
ton of said bonds, to issue to said city of
| Austin, In case the said city Of Austin
| shall elect to require the same, such
number Of the shares Of the capital stock
of said Austin Railway Company as will,
at the par value OF said stock, correspond
with the principal sum Of said bonds,
and to deposit in the hands of the trus-
tees above named, tho certificates of the
stock to be exchanged at the same time
the bonds of said city Of Austin shall be
deposited.
Dated Austin, May %, 1881.
(Signed), w. T. Wilkins,
F. - President Austin Railway Co.
(Slgued), F. I.>CRANE, -
Secretary Austin Railway Co."
The City Recorder thereupon notified
the Council that he was having posted
! this day notices for an election to be held
| in the several election precincts of this
city, on the 9Th day of June, 1881, under
call for such election duly signed and
| fled in his office in accordance with the
statutes in regard to granting aid in the
construction of railroads.
The Council then entered upon con.
sideration of that portion of said propo-
ten of the Austin Railway Company as
relates to the issue to the city of Austin
of capital stock of SAID company: There
upon Alderman Hall submitted. the FOL-
lowing:
"WHEREAs, q proposition of the Aus.
TIN Railway Company has been filed
with the City Recorder asking aid to the
amount of $4,000 in building and con-
structing u line of railway from some
point on the line of the Southern Mime.
sofa Division of the Chicago, Milwaukee
& st Paul Railway east of RAM
sey, to intersect the Iowa & Mime
sofa Division of said Chicago, Milwau-
kee s. st. Paul Railway north of or
at the city of Austin, deeming it for
the interest of the said city of Austin,
Resolved, That the issue of the capital
stock of said company, in said PROPOSE
ton contained, be waived, and the city
of Austin elect not to require of said
company the Issue of any Of said propos.
ed capital stock"
| After several readings. and upon the
question of its passage by ayes and noes,
there were six (6) ayes, noes none, and
the same was declared to be duly passed.
| Motion, that committee be appointed
to select = site and construct new well
on Main street, north of Mill street, be-
ing carried, the Chair announced Alder,
men Hall, Ames and Fish as such com
mittee. ~ ..-s'
! Motion for the appointment of com
mittee to select sites for ten new street
lamps, being carried, the Chair announc.
ed Aldermen Phillips, Giles and Weisel al
as such committee. L. -
And the Council adjourned. S..s.z-:3
- R0RRRT G4RIRNrTH, llifu Racord ar