Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1882-10-11
THE AUSTIN, MANKATO
& ST. CLOUD r. r.
Contracts Closed With a N. Y.
Construction Co. for Build.
ing the Road. ),
Conditional Upon the Voting of 500, 900
of Aid for the Entire Line.

For two or three weeks we have known
that negotiations were progressing salts
factorily with N. Y. Construction Co.,
for the immediate building of the road,
but, by request, had RETAINED from max
ing any public mention of the fact, until
every detail of the bargain should be COM
pleted, and the papers "signed, sealed
and delivered" which, we are happy to
say, were so completed in St. Paul last
week. We knew that a man had been
sent to look over the line, that he had
looked, and returned with a very favor
able report; that an attorney had been
sent to examine into the charter, the land
grant, and other legal matters, and that
he had examined, and made favorable
report. At last the cheerful news came
that certain prominent attorney in St.
Paul has been ordered to close contract
with the directors of the Austin, Mankato
s. St. Cloud Railway for building the
road in accordance with proposition
which had been submitted to them.
The. substance of the agreement is this:
The Construction Co. is to build the entire
line of about 100 miles, between the Iowa
state line and St. Cloud, within two years
from Dec. 18th, 1882. The only condi-
tions are that bonuses equal to $1,000 per
mile, in the aggregate, shall be voted
or. in other words, the Co. expect $500, 900
in bonds for the entire line. The Co. will
ask of the city of Austin $50, 900, and it is
expected our citizens will have chance
to vote the bonds on general election day.
Propositions and papers are being prepar'
ed by Director Page and the proper
notices which the law requires will soon
be posted.
This is good news for Austin, and will
certainly give US what We have 90 long
desired, competing line of road. The
amount asked for is not exorbitant, and if
the tax was levied all at once, it would
only amount to about 8 per cent. of our
assessment.
Some may ask, what assurance have
we, if we vote these bonds, that some
hostile Co.. (the G. NJ. s. St. P. for in
stance) will not get possession of the road.
We, Of course, cannot give any positive
assurances as to what interest is backing
this enterprise, only we have information
| in our possession which leads US to believe
that it will always be competing line,
| and is backed by one of the strongest
companies in the west. Let our people
do their part, and there will be no failure
on the part Of the r. r. Co.
Our people should feel under great OBJ
legations to Messrs. Officer and Page for
their untiring devotion to this enterprise.
Each have spent several months of valu-
able time and considerable money in for
warding the work. We are happy to say,
however that all actual expenses of the
old company will be refunded by the
new, so that the stockholders of Austin
and elsewhere will have returned to
! them all cash advances on their stock. In
fact, the money for that purpose is al
ready on deposit, and will be paid over
whenever the bonuses are voted and the
work of building the road actually COM
menced.
This enterprise cannot fail, backed as
it is, by swamp land grant of 450, 600
acres, and as it will be, by donation of
$500, 600 in bonds Dirt will fly within
thirty days after the bonuses are voted,
unless severe winter closes in upon us.
In that event, of course work will have
to be postponed until the early spring,
with the exception of such work as can
be done in the winter, as getting out
stone and ties.
From this time on Austin will take on
new life. New blood will be infused into
her veins;-because of the good time
coming, when the shackles, which have so
long bound her, shall be removed, and
she be free-active, vigorous, and pros
porous again. Hail the dav!