Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-05-01

Mr.. John LeaPy Tells why the Ratid'
ing OF the seattle and Snequaimie
Railroad 70 Hanging Fire

Railroad 10 Hanging Fire.
Some time ago certain influential cItl-
zeus of this city were talking strongly I
OF organizing = company TO build
railroad from this city into the Cedar
River coal fields, and on through the
Snoqualmie pass to the Columbia river.
For some reason the matter has Jagged
of late. and in order 10 get at the inside
facts a reporter of the PosTlSTELLI-
oEScIB called al the Office of John
Leary, Esq. last evening. and pro-
o, unded to him the following question:
Report What has beeR done, II
ANYTHING. in relation to building the
tslked-of Seattle and Snequalmie Rail
road to the syndicate coai mines on tie
Cedar river:
To which Mr.. Leary replied: Moth
ing, that am aware Of at present ne
matter was talked Of about four or i've
weeks AGO, when. at ar. George II.
Johuson's request, met several gentle
men At the office Of Judge j. X. Lewis,
among whom were James Al. COlman,
John Collins, Henry l.. lesler. George
klnuear and others. Ny understand
ing was that Mr. Colm4n would sub
scribe TO the building of the line nifty
thousand dollars. | was so informed
bv Nr. Kirk c. Ward AID Mr.. Johnson
| said, If that was the case l had no
doubt that sufficient funds could be
raised by other citizens here To- build
the first 30 miles Of tie road. the esil-
niat-d cost IF the building aud equip
ment OF which was TJO.Uuo. At that
meeting Nr. hinnear AID myS- IL were
authorized to See the managers OF the
| Renton Coal Company. the Cedar
Mountain Company and the Syndicate
Company. and ascertain whether con-
tracts could be had for term of years
| from each of these companies tor the
| transportation of the coal Of the re-
spectlve mines, and also as to the
amount of stock each company would
| subscribe for. We were authorized to
say that We would carry from Renton at
| A. cents per ton: from Cedar Mountain
| at 80 cents per ton, and from the Syndl-
| cate mines at = cents per mile per ton.
| lnasmuch as the proposed line was to
parallel tho present Columbia and Pu-
get Sound road, and Cedar River e4-
tension, it was absolutely necessary
|
| should subscribe to the stock of toe
| proposed lire a sufficient amount to
| warrant the investment OF the addition
| al require capital by our citizens. |
talked with Mr.. Yesler. and he agreed
that he and should take of the stock
| fifty thousand dollars. and Mr.. kinnear
| agreed to take twenty thousand. The
company was to he Immediately organ
| lied. he subscribers We're to receive
| first mortgage bonds, drawing interest
at the rate of six per cent. per annun,
and stock ia the company to the
famount of their Subscription. the com
pany reservin9 tue right to pay the
bonds within two years, III Case 1t would
| require to extend the road through the
| SnoQualmie pass, and borrow money
on the whole road. Within the la-t few
DAYS, iii conversation with Mr.. Coiman,
ne informed me that he would have all
he could do to develop the Cedar Noun
| tain mlEe. and did not int. u to sub
scribe anything toward the building of
| the rad. | told him | und,I stood lie
| intended To take fifty Thousand collars
| of the stock, a : that WAS the only secur-
ity the citizens would have that they
would get the transportation of his coal
| with certainty. That mere contracts
| with either OF the companies spoken of.
| without their having a direct interest IN
the road. Would not be sufficient guar
antee that the prOpCs ed company would
get the transpOrtatIcn of tn. coal. Here
the matter ended. Iou will readily See.
| MIR. Crawford, that without these COEl-
panies took a large monetary interest
III the road, the present owners
| of the Cedar River extension would
leave nothing undOne to secure
the transportation of the very coal
that We built this road to carry, and
that individuals. like corporations, gen
orally throw their business where they
can get 1t done the cheapest. Our citi
zens re wide awake to the importance
of Il line of railroad directly from Seat
tie through the SnOQuAlmlo Pass to the
| Columbia River, ana If :ae present Ce
| dar River extension coald lie leased at
| n fair rate on It's cost, would undunbt
edlv subscribe sufficient sum TO war
rant the building of the txtensi II of it
to Priests Rapids, on the Columbia
| River. If the Renton Coal Company
and Messrs. Coman aud Collins will
subscribe $4,000 to the stock ans
bonds of the Seattle and Snoqualmie
raIlro sd. the balance of the funds neces-
sry to buud and equip the II st thirty
miles can and will Toe raised within ten
days from thus date, and the building of
| the road will be pushed with all posi-
| bic speed. Ii rests with the owners of
these coal mines To say whether the road
| shall be built or not, and If these men
refuse to subscribe that amount | shall
| be led To believe that their talk III tn g
premises was made to enable them to
get better terms from the owners Of the
| Cedar River extension for the transp n
| tation of their coal. These ara the
facts in relation to the whole matter,
and you are at liberty to make them
public. The Seattle and Baker City
Railroad Company was trapped into
getting Cornwall a low contract for the
transportation of the Black Diamond
coal by the same kind of dodge, and
do not propose to get myself or friends
again into simila box"
WAGON ROADS. The May session of the