Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1883-09-07
Railroad Meeting.

A mass meeting of the citizens of
this place was held in Columbia Hall
Monday evening for the purpose of
hearing q statement made by the
directors Of the projected railroad
between Puget Sound aud Gray's
Harbor. Captain c. H. Hale having
been elected Chairman and j. Cal
McFadden, Secretary, the meeting
was then addressed by Richard Os-
borne, ESD, of Seattle, who in
very pointed and plain manner ex-
empliiied the methods of proceed
ing, after showing what had alrea dy
been done by the projectors. Mr..
Osborne stated that tie prest mt di-
rectors had made contract with a
gentleman who represents party of
New York capitalists, to obtain the
right Of way and terminal sites,
! make necessary surveys. maps. es-
/ Inmates, etc, to be deposited in the
vaults Of a well Known Trust Com
pany in Now York, as security for
the amount to be advanced by the
syndicate. According to the surveys
already made the road will be about
80 miles in length. the object being
to touch the nearest and most i'm
portant points on the route.
To secure the right OF way not
less than 1900 acres would be neces
sary, and to this end the speaker
stated that the people on the harbor
have been very liberal in their offers.
1t is estimated that the cost of the
road will be about S25 900 per mile,
and to obtain this money j, will be
necessary to issue bonds to be sold
at not less that 80 cents ON the dollar,
with int, rest. commencing from o.
,ober 3l,t, 1888. These capitalists
will, On the strength of these bonds,
place the sum of $3.50, 600 to the
the Trust Co., said sum to he paid
out for the construction Of the road
on tho certificate of civil engineer
that the work has been completed to
that amount. The bonds will bear
q per cent. interest, and the sinking
fund to be 10 per cent. of the earn,
inss Of the road. 1T is expected by
The projectors Of the road that every
person living on the line of railroad
will he lars ely benefited. otherwise
the projectors would have Tut little
faith i'll such IN undertaking. The
field notes made by Surveyor F. w.
Brown had been highly praised by
ii,st class engineers, and the making
Of the maps, etc, will probably be
completed in about two weeks.
Mir Osborne then read one of the
blank deeds, to show that the con.
dltions were that the road shall be
constructed within three years,
Otherwise the lands given would re-
vert to the owners thereof. The
directors asked for a water front of
100 acres, aud this must be had be.
fore anything can be done. He
disclaimed any intention of trick
cry on the part Of the present d.
rectors, but freely stated that it was
their intention to benefit the people,
open up the Chehulis Valley, and
make money for themselves. After
remarks in favor of the road had
been made by Genl. McKenny, Col.
Owlngs, Capt. Percival, Judge
Ready, Mr.. J. Nj. Swan, and others,
Oh motion the following committee
was appointed to canvass the city of
Olympia for means to help in carry
| ing out the project: Genl. T. l. Nc
Kenny. A. II. Chambers, John NJ.
Swan, A. b. Woodland, James Patti
sou, Capt. 5. W. Percival, Capt. G.
ii Hale, f.. I. Yo ing, Robert Frost,
". +. VIM. LemCn. Captain Hartly,
b. +. Brown, Il. Z. Schoecraft and
q. A. BAN 5.
Mr. Osborn, in reply to u ques-
ton AS 10 the time stated for COM
pleuns the work. took it upon him
self to state that il sufficient in
terest was manifest in the project
the directors would have no objection
to insert one year in the deeds ill.,
stead of Ihre..
On motion it was decided that the
committee should meet in McFad-
den 4 Billiards. office on Thursday
evening, 9th inst, at Z o'clock, after
which the meeting adjourned.