Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1883-09-06
Seattle. June 10. 1883.


expiration Of present, Contracts.
the P0ST-INTElllcEMCER PUB. co.
Seattle. June 10. 1883.
RAILROAD MEETING AT OLYMPIA
A Report Of the speeches by n Post
IntelIIxeneer Correspondent.
Last evening a mass meeting of our
citizens was held in Columbia Hall, for
the purpose OF hearing q report from
the Directors of the Seattle, Puget
70 the aims, objects and progress made
BY the aforesaid company. The meet
ing was called to order by Captain 3. w.
Percival. and on motion Captain 9. H.
Hale was elected chairman and Hon. j
having stated the object of the meeting,
one of the directors of the company. to
give such information as was possible
on the subject Of the proposed liue of
railroad.
Mr.. Osborn opened his remarks by
stating that he did not think it neces-
ssry to inform the meeting of the ad-
vantaxes that would probably accrue
from such a project. He need hardly
state that the opening Of such line
from Puget Sound to the ocean would
shorten the distance to San Francisco
about 100 miles. He did not think there
were any persons in the audience 50 Oh
tuse as not 10 fully understand that snch
a line of railroad would be beneficial
not only to the Chehalis valley, bat also
20 Olympia and Puget Sound generally.
The speaker then proceeded to explain
very clearly the method by which it was
expected the road would be built. He
stated that the company had made
contract with gentleman representing
a number Of New York capitalists to
obtain the right of way and terminal
sites, make the necessary surveys, maps,
estimates, etc., all of which we're 70 be
deposited in the vaults Of a prominent
trust company in New York az security
for the amount to be advanced by the
parties in New York. From the survey
already made it appears that the length
Of The road to the narbor will be eighty
miles, and it wss the object Of the CON-
pany 70 locate the terminus where the
greatest number of people would be ben
e6ted. To secure the right Of way at
least 300 acres OF land would be neces.
sary, and the building Of the road, il 10
estimated. will cost At the rate of e25.-
600 per mile. for which bonds would be
issued, the selling price not to be less
than sixty cents ON the dollar. On the
strenQth of these bonds the syndicate
will advance the sum of $3.50. 900, which
sum will be placed in the hands of the
aforesaid trust company for the con-
struction of the road, only to be paid
out on the receipt Of the certificate OF a
competent civil engineer that the work
has been completed. These bonds are
calculated TO bear six per cent. interest.
and tho sinking fund TO be ten per cent.
Of the earnings Of the road.
The speaker continued, 1--WE expect
70 benefit every man who has dollars
worth OF property in it. We have put
our money into Il because We have faith
in il. Now the question is, What will
you dor The field work has been care
fully done, aud has been highly praised
by some OF our first-class civil engi-
neers. In the course Of week or two
the map work will be completed. We
have had about nine men IN the field.
and at present We have two. DO yoH
want railroad? II 40 yon csn have it
by working for it. (said the speaker)
have put what little means | own into it.
and surely you who are now interested
in IL A. local institution will not fail
10 help u.s."
Mr.. Osborn then proceeded TO read n
blank deed, which 10 all who heard II,
appeared plain without being intricate,
aud seemed to give general satisfaction.
lt was also stated that one Of the farm
ers along the line, II ing ia the vicinity
Of Gray's Harbor, had offered TO donate
100 acres out of ia, and IL this example
was followed, they could obtain all the
land necessary. They required luO
acres Of water front, and no less, before
anything now could be done. The gen
tleman's remarks were listened TO with
attention, aud on concluding he was
loudly applanded:
General +. Mckinney being called for
stated that since hearing Mr.. Osborne's
remarks he had more faith in the road
than previously, and would do all he
could TO help IL along.
Col. N. H. OwinRe vAs In favor OF
ueiuQ any means 10 obtain railroad oom-
municasion. Owing 10 tho circumstances
which surround us We are called an in
land town, and to eradicate this impres-
sion We must have q railroad 70 thu
ocean.
Judge W. F. Ready spoke highly in
favor Of the project. He came from a
railroad State, and he believed that
every ono present would be benefited
by the proposed road.
Captsin s. w. Percival declared him.
self in favor Of the proposed railroad,
and be hoped il would succeed. Woald
do all he could to help il.
Mr.. j. N. Swan spoke in the same
vein, after which. ON motion, q COM
mittss Was appointed consisting Of Gen.
+. /. McKenny. 4. II. Chambers, J. M.
Swan. A. b. Woodland, James Pattlson.
Capt. 8. w. Psrcival, Capt. c. II. Hale,
L. 4. Young, X. Frost, W. Z. Ready, W.
Lemon, Capt. Hartley, b. +. Brown. X.
p. Shoecrafy and Geo. A. Barnes, TO
canvass the city and vicinity for means
70 help In building the road. After
which the meeting adjourned.
OLYATPlA, September 4, 1873.
49,. A.. sInA~aAap t,w.. -