Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-06-29
DAILY T.INTEluGENcER.
a NEW pRsJECr.

A aaiireaa Lean insiead OF sa"s'ay.
The idea of subsidizing the Colombia
4 puoet Sound Company TO enaois u 70
comulete it's road up Cedar river was
GOOD 6, bot not 80 good as aho'hsi
that has since been put forth. Inc neg
idea il to loan the company the neeoFo
,nonav. and il was propo'ed by MI
Howard. the company representative
The terms upon which the money - 70
10 loaned will strike the reader as mess
fair and will be found reported IN run
in the following;
The undersigned. ssverally, agrees 70
loan IN the Columbia d Puget Sonno
railroad Company the sum SET opposite
he name upon the following terms ana
conditions, tsw't:
r TINS said Columbia q Puget Sound
Railroad Company agrees to constrocs,
cornnlete and commenSe - operate the
Cadsy River branch of its road as Tar as
RIack Diamond coal mine on or before
,he first day of December, 1854. Said
loan 10 be made in quarterly install,
mants on the first day OF eacn Anu
ayssv month. commencing on the nfst
a. ~ Auoust. 1884. When each IN
sts,,ment Il paid. the said Columbia q
pnaet Sound Railroad Company VIII
issne 10 the person paying such INSTALL
ment Transportation scrip TO an amount
eoual to such payment.
m Said scrip shall be payable . the
,,araon named therein or bearer; II snail
Sraw Interest at the rate OF six per cent
"a, annu,n from date until paid, and Il
shali he received By said Columbia q
puoet Soand Railroad Company Tor %
ner cent of any claims that may be due
~ said company for transportation
freight OF otherwise.
III This agreement shall take effect
unon approval by the Board OF Directors
~ the Columbia Il Puget Sound Hail
road Company. =.
not comnIetsd before the fifst day OF
T. Daeember. 1894, the said railroad com
nanv shall repay to said subscribers the
smount paid by each of them, with IN
terest AT the rate of ten per cent per an
NINA from the time Of such payment
until repayment II made Dy saio o'"
pany. ,.s.x;n.a 10
ba maid at the banking house of Dexter
Horton d Co., and said scrip 70 Dc DO,
liyered To said Dexter Horton q 20. oy
the Columbia x Puget Sound RAILROAD
Company.
BY the terms of this agreement the
COMPANY will not get anything foi
nothing; it will paw for what II gets
and Day interest during the time It owes
the money loaned. A fairer proposition
could not be made. and our people VIII
be foolish NOS 20 avail themselves OF IT.
advantages. Compliance with II vii
insure the immediate completion OF the
road, the opening Of the mines along III
line, the employment Of several hundred
men now idle, and will cause genera
Frightening of the times and the crea.
tion Of many resources OF permanent
and valuable character. The money
can be raised, and must be aud will be
and no time whatever should be lost IN
raising 1t.
One other thing may be stated In thi'
connection, and that Is that the com
pany will treat all alike, in other wsrd'
that the favored terms given p. Is. Corn
wall will be given to all mining com
panies concerned.
p. b. Cornwall. It Ia understood, will
loan the company $4,000 to complete
the road to his mine, and our peo
ple can well afford TO make no the do
fciency remaining
The subscription committee shoult
move at once. 30 that the new arrange
ment can DO closed inside Of forty leigh
hnura