St. Paul daily globe., 1889-06-26

such line is necessary, some other and
new company might build it to advan-
tage, yet Mr.. Lowry has such power
that it is impracticable to even think of
giving it to new company.
1t has been openly doubted whether
an agreement had ever been made with
Mr.. Lowry to build the lines, upon the
payment of S2f0,0 bonus, especially as
it Is given out as part of the agree
ment that the lines are to be completed
in six months. A call was made at the
office of Thomas Cochran Jr., yesterday,
but he was out. and the information
was given that the whole affair had
been turned over to Mr.. Holdridge to
manage. That gentleman was found
and asked how the plan was progress
ing. He replied:
MR. HOLDRIDGE TALKS.
Every we'll, indeed. We have a con-
tract with the street railway company
by which its managers agree to have
the line in operation inside of six
months, provided they can get fran
chise. On our part the contract Is de-
pendent upon our raising the $3.50, 900
bonus, which we have no doubt of our
ability to do. This circular has been
sent to all property owners who will be
benefited by the new roads:
I'VE understand that you are owner of lot,
block =, - addition. You will therefore
be interested to learn that Archbishop John
Ireland and Thomas Cochran Jr. have con-
cluded an agreement with the street railway
company by which the said company has
agreed to build, equip and operate two elec-
trio surface motor lines, one running from
Wabasha and Seventh street, out Oakland
and Grand avenues to Cleveland avenue, and
the other beginning at Wabasha and Fourth
street, out Fourth to Seventh. to Randolph,
and along Randolph to Cleveland avenue.
1.-THE company agree to have the road run
ming within six months provided bonus
which we consider very reasonable one is
raised and paid over to them in installments
extending over nine months, the first in
stallment not being payable until the rails
are laid. Full details of this contract, which
we consider very advantageous one for the
property holders, will be furnished you if
you will call at Room 13, Gllfillan block,
where our agent will have his headquarters
We give you this notification in order that
no advantage may be taken of you
proposed lines and endeayor to buy property
at less than its full value under the circum-
stances, and also because we desire to have
the hearty cooperation with us of the prop
erty holders in order that the matter may be
pushed to immediate completion. If, know
ing the facts, you desire to make a cash sale
of your property, will you kindly notify us
Immediately of your lowest price and terms
for whatever you own along this route?
''We will esteem it special favor if you
have sold out and are not the owner at the
present time, it you will let us know to whom
you have sold"
Mr.. Holdridge was asked if he did not
think that MIR. Lowry was playing one
scheme off against the other, with no
intention of building both the cable car
extension and the electric motor cars,
but so as to help one or other to raise
the bonus and then go ahead and build
whichever raised it first. He replied:
81 am confident that such is not the
case. If both bonuses are raised, fail
lines. l know Mr.. Lowry very well
personally, and feel sure he would not
do anything of the sort. He has met us
very sQuarely in this matter, and there
is no doubt of its going through"
'Why do you not get some other COM
pany to build the line-One, for in
stance which would not demand a
bOnus?'
"That matter has received our atten-
ton, and we shOulG do so if we thought
it would pay US. l assure you that we
are not giving away quarter of mill
ion dollars without full consideration
of what we are doing. 1t is simply a
business proposition. We who own
property out there cannot afford to pay
interest on our mortgages any longer.
You cannot make money out of raising
cabbages on land at $500 per acre.
Those farms out there will never be-
come anything worth speaking of until
some rapid transit facilities are pro-
vided. We propose by getting these
lines built to make our property worth
something, and for that purpose propose
f.,h 1,xyf
build them fastest. We realize that
line if they could get the franchise.
But it would take them very long
time, as Mr.. Lowry would undoubtedly
MAKE A STRONG FIGHT.
While the case was pending he would
get out writs Of injunction, and if he
were beaten, would carry the case to
the supreme court. Suppose he was
beaten there, how long would it take?
Several years at the lowest estimate. In
the meantime our property would not
advance in value, and we should he still
paying interest on Our mortgages. An
other thing you must remember is this:
While Mr.. Lowry could enjoin any one
else from building, no one else could
enjoin him, as he owns a franchise
which is proof against anything of that
sort. 1t is simply question of busi-
ness with US: sentiment does not enter
into the consideration at all, and all we
have to consider is, will it be more
profitable to US to pay $3.50, and have
the line built before snow flies, or pay
nothing and wait until fight i'll
the courts between Mr.. Lowry and
some parties who might OF might not
he able to build the line was settled.
After mature consideration of the
question we have come to the conclusion
that it will pay US better to let Mr..
Lowry build the line. Archbishop Ire
land is anxious to develop his vast prop
erty out there in the interest of the
church. He wants to build great SEM
mary out there, and for this rapid
transit is necessary"
''Are there not many men who own
property along the river Eank who
would Oh no account pay anything to-
ward the bonus?"
''There were. But we have settled
that part of the business all right. There
was a number of old Germans who
would have subscribed nothing, being
just anxious to see us 90 ahead and raise
the value of their property. This we
farcsaw. and without saying about the
proposed scheme went ahead and
bought up all such property. We will,
Of course, pay Onr share of the bonus
on these lots. Altogether we have
bought in the neighborhood of $50 acres
of land from men who we knew would
never contribute to raising the bonus"
will not this scheme interfere to
some extent with the prospects for rails
ing the cable car extension bOnus?"
81 do not think 40 We Of cOilrSa