San Marcos free press. [volume] (San Marcos, Tex.) 1877-1892, 1882-03-16
BADLY EUCHRED.
How a 1T. LonIs Ny adIeate Lost the Contract for
the Erection OF the Texas Capitol.

secured TO erect the Texas state-house
at Austin, and il has subsequently beer
learned that st. Louis syndicate hac
splendid opportunity 10 secure this
bonanza, but let the Sucker people gel
away with them in IA most lamentable
manner. Before going into the detail
il is well to state that the Texas author
tiles propose TO give 100000 acres Of
land in the PAN Handle"as the consid'
Grafton for the erection of the capitol
When the bid was first advertised,
Mr.. Smell of Rock Island, Mr.. Beard
sley, the postmaster at that place, and a
Mr.. Drake of Rock Island opened me-
gotiations with the authorities. They
then called the attention of Col. A. o.
Babcock of Canton, Illinois, to the
matter, and subsequently the Farwells
of Chicago and Col. Abner Taylor of
that city were induced to go into the
enterprise. Messrs. Smell, Beardsley
and Drake went to the letting at Austin.
and putting in
THE LOWEST BID,
They got the refusal of the contract.
They failed within the prescribed time
to furnish the required bonds 1t is SAID,
and Mr.. Smell gave his check for S2O,-
900, to be forfeited unless the require
ments of the bond were complied with
in 20 days. On returning from Texas
the party stopped at the Southern hotel,
where they were to be joined by Col.
Babcock. While here they made the
acquaintance of Capt. l.. M. Chipley,
who, upon learning of the enterprise
in which the ywere interested, went to
work to secure the contract for furnish
ing the granite for Mr.. W. r. Allen and
his associates in that line Of business
This contract was secured before the
arrival of Col. Babcock.
At once comprehending the magni-
tude of the scheme and perceiving a
weakne s in the situation, Capt. Chip
ley opened negotiations with Smell for
the purchase Of the entire contract, III
behalf of syndicate of ten gentlemen
of st. Louis, induced inside OF "a
hours by Capt. Chipley to go into the
enterprise if they could secure the
contract. Among the ten were large
manufacturers and contrac-
tors. Babcock's friends, too, were
NOT ACTING PROMPTLY ENOUGH
To suit him, and he was just in that
state of mind at the time to be oper-
ated upon easily by the st. Louis syn
licate. Smell was really at that time
the only man who had a dollar invested
in the deal. He was out $4,000 on ex-
pense account and had put up $4,000
Is forfeit.
The st. Louis men dickered for some
lays and finally made offers that we're
100 weak to secure the prize. They
offered only $4,000 for the contract.
# they had put up $50, 1000, the gentle
nan who furnished this information to
he Republican thinks they could east
y have closed the bargain.
1t was while the negotiations were
,oing on that Col. Babcock arrived.
lie was the Napoleon of the party. 1t
ook him but moment to realize the
ituation, and he sent Smell off to Rock
.sland on the first train. He then took
he negotiations into his own hands,
nd was open for any arrangement with
THE ST. LOUIS SYNDICATE
That would be to their mutual advan-
age. He waited few days to allow
hem to decide what they would do.
Unfortunately for the syndicate it is
LEGGED that they became possessed with
he idea that the thing was too large
eal for any other parties than them
elves, and that in due time the others
you'd drop out and it would fall into
heir hands. All this, too, with the
ull knowledge Of the fact that they
,ere working against men of financial
treugth and ability. The consequence
yas that Col. Babcock and his asso-
iates went off to Chicago and organ
.ed the company, getting all the
honey and assistance needed. They
zen returnedto Austin and made good
be bond with the state, viz, $250,OO0.
This all happened within the past
ortnight. Coils. Babcock and Taylor
ill return to st. Louis in a few days.
ii the benefit that st. Louis will now
erive from this enterprise Is that the
liens will furnish the granite for the
Capt. Chipley did his
ork well, although not interested to
reat extent. He saw good oppor-.
unity for money to be made and in {
short time got the syndi- =,
tie together; but they were too slow.
he Illinois party is indebted to Col.
abcock for their success, and st. Louis /
,st the thing, * is asserted, by not
acking properly Capt. Chipley, who
Nv at q glance.
THE GREAT OPPORTUNITY. !
Since the bond has been filed, it is @
i'd that the parties have been offered /
!. 100000 for the lands. The state {
Duse will cost between S1,5O0,OOO and b
100000, 50 that at the very lowest S
lere will be profit of from sl,0O0,OOO v
S2.OO0,000 in the undertaking, even u
a. r. Al A.. L.. nIc do -