The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1889-04-06
TN RAILWAY CIRCLES.
The Tribune Away Off Again, as
Usual.
THE ROAD TO THE COAL BEDS.
An Enterprise that Means Wealth for Salt
Lake-General News of the Rail
Personal and Otherwise.

NJ. F. Sturges writes to THE HERALD as
follows
LAS the Tribune OF yesterday made many
miscellaneous as to our proposition tc
build the Los Angeles proposed railroad,
wish to correct them. Our proposition
was, in short, as follows:
To complete the subscription paper, all OF
whose subscriptions are conditioned on
S25O,OO being subscribed, we will subscribe
$4,000 ourselves. We agree to furnish
over half of the contract price of the road,
or $3.50 out of SD, go, and take stock and
bonds therefor.
We make an agreement that leaves the
control of the road in the hands of the Salt
Lake people, and S240, 900 in bonds, when
the first forty miles are built. These
bonds. at So cents, which price might be
obtained when the road is built will leave
S200,0O n the treasury of the company,
with which the roa can be extended, that
is. as much as is at first invested. If salts
factory TO Salt Lake people, we will take
q contract at once to build to Deep Greek,
agreeing to take the second forty miles at
not over 81 900 more cash per mile asked
than now, or 81, 900 per mile and rest in
bonds and stock, and the rest of the
entire road to Deep Creek in a similar
manner We shall have on first forty miles.
$3.50. 600 invested in the stock and bonds of
the company, and we shall be in the soup
50 deep that we will have to see the project
through.
The Salt Lake people have tried for a
wear TO get men with money to ask Salt
Lake folks to spend it for them, they have
tried in every way to induce someone to
build Money seems to be all that is lack
ing, the talk cupboard is full. No PROPOSE
hot FIJI
Ifs and ''ands'' and requirements for time
in which to float bonds. We float our own
bonds ourselves, carry them till the road is
built, and ask not one hour of delay. AS to
the share Salt Lake furnishes, they can as
sure themselves by depOsiting it i'll a bank,
to be paid out only on vouchers for rails,
etc. as far as it will go. We ask only that
we have contract if we can make satisfac-
tory detail arrangements with you, and
that we have a chance to try if we can.
As to the statement that rolling
stock could not well be leased.
only refer to the fact that many
of the leading roads of the country lease a
portion or all of their locomotives and cars,
and we viii find you more than one com
pany that will lease you all the engines and
cars you want.
We have been comforting with Salt Lake
city now for a year-lacking one month.
The chickens must hatch soon, or the hen
will desert a barren nest. Salt Lake is not
the only town that has little money, or
would like another railroad. We have
money, down in our jeans, and shall not do
much begging, for any other town IS as
much to US, at present, as Salt Lake city.
Not one bond will have to be fiOated on an
unbuilt road: on u built road, the bonds are
easily fioated. And when built the Salt
Lake people will own the road, select Cit
zens as officers, and fix all rates themselves.
Stock taken will have par value. Salt
Lake has tried talking, advertising and
every other way to build a railroad to Deep
Creek except building. Are you not tired
OF waiting: VIII you not accept the prOpO-
sition in general as we make it, leaving de
tails to be settled by personal contact with
the Pittsburg folks, have the road built be
fore July l, 1880. and let eastern men in
vest $780, 900 in new railroads for Salt Lake
city, if they want to! Respectfully, yours,
NJ. f. STURGES.