Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1888-02-13
THE NEW STEAMER SCHEME.

capt. Davis plan Receives n sort OF
Backset---The Minneapolis Board
of Trade Does not Receive IL with
EnIire Satisfaction.
The project of establishing a steamboat
company for the purpose of running a
steamer between st. Louis, Rock Island
and Minneapolis. received something Of a
backset last week through the action of
the Minneapolis board of trade in refus>
ing to accept the proposition made by
Capt. John B. Davis, of this city, the
prime mover in the enterprise.
1t would look as if the board did not
regard the captains plan hopefully,as but
ten members besides the president were
present. The latter called for report Of
the committee. T, B. Walker responded,
stating that the committee had made a
proposition to Capt. Davis. which was iu
outline that majority of the stock in the
proposed steamboat or transportation
company should be owned in MinIeapo>
lis. and that the headquarters of the com
pany should be made in ST. Louis. Since
the meeting of the committee he had
learned that Capt. Davis would not acN
cept these terms, but wanted three tHths
of the stock owned by Moline parties,
though he was willing to have the gener-
al offices located in ST. Louis and that
the secretary and treasurer should be
Minneapolis men. For himself Mr.,
Walker did not approve of the terms
made by Capt. Davis. 1t would be
more difficult to find subscribers for the
stock in St. Louis if majority were
owned elsewhere. In Capt. Davis he had
every confidence, believing him to be
fair, straightforward man. If Judge
Bassett had been there he thought some
arrangement might have been fixed up,
but as it WAS the report OF the committee,
it must be adverse to the plan,
At this point Captain Davis was given
the floor to submit new proposition
which he had i'll writing 1t was in subs
stance as follows: One half the $75, 900
stock was to be subscribed in Minneapo,
lis and one>haIf in Moline. Payments
were to be $9,375 Tor one fourth) on
Feb. Is, and onefourlh four months
and one-fourth eight months from the
completion of the steamer. The steamer
to be named City of Minneapolis and to
run between Minneapolis and st. Louis
during the summer, and between st Louis
and New Orleans during the winter.
The general offices to be located in Min
neapolis. with secretary and treasurer
Minneapolis men. Two of the i've di.
rectors were to be Minneapolis men, two
from Moline, and the fifth to be Capt.
Davis himself.
This proposition was not received with
enthusiasm and motion to accept and
adopt the committees report was made,
Discussion of the motion followed.
Judge Atwater hoped that Capt. Davis
would not go away from the city thinking
the citizens unfair, II Capt Davis would
furnish bonds to run the boat to Mime
apolis during four months of the year,
FORGETTING $500 for each trip lost during
that time, he was ready to put up the
money himself at once. Capt. Davis res
piled that only lunatic would accept
such proposition, as there might not be
water. He thought that there would be
no difficulty in coming here nearly all the
time, but at some parts of the season it
might be impossible. Capt. j. c. Reno
spoke briefly, saying that the committee
was ready the other day to recommend a
subscription of $4,000, or majority of
the stock. He thought Capt. Davis
would do the right thing, and that the
steamer would have no difficulty in reach
ing the city during the entire summer and
fall.
The Minneapolis Tribune says in con-
nection with the above:
So much interest is felt III the matter
by various Minneapolis gentlemen that the
plan is not likely to die, ana if the prop
osition made by the committee to Capt.
Davis is not accepted by him and his
Moline hackers, it is very likely that the
scheme will be carried through indepen-
dent of the down river people. Last night
Capt. Davis offered to take one fourth of
the stock if Minneapolis parties would
subscribe three-fourths and have the ems
tire management of the company here.
Capt. Davis was seen by an ARGUS re-
porter this morning. The veteran steam
boatman said that the hitch was not in
the matter of securing stock for the en-
terprse, but in the distribution of the
stock. However he said, there was
M m fra q prasapt for thu pI1hlin