St. Paul daily globe., 1889-06-15
SAINT PAUL.
BUILD YOUR OWN RAILWAY.
A st. Paul Capitalist Offers Some
Good Suggestions to Property

Good Suggestions to Property
Owners.
In discussing the proposition of real
estate men ard property owners to give
the City Railway company bonus of
100000 to extend the cable line to Fair
view avenue, a capitalist, who for busi-
ness reasons will not permit the use Of
his name, said yesterday:
'Basing my proposition on a state
ment made in the st. Paul GLOBE some
few days ago that line of cable rail-
road, with equipments, would average
cost of 100000 per mile. am of the
opinion that by taking, say, for instance,
a district of seven streets in width,
three streets on each side of the street
on which the line is to be built,
assessing each lot owner on both
sides of the seven streets, making four
teen sets of lot owners, a pro rata share
per foot of the cost Of construction and
equipment of such cable line, a paying
investment would result. Thus you
will see, there being $3.50 feet to the
ming front foot would be $18.98. That
sum divided among the property holders
on the seven streets, as before eX-
planned (being the street on which the
cable line is to be built, and three
streets on each side thereof, there being
lots fronting on each side of each of
said streets, making fourteen sets OF
property owners. as before stated. among
whom the assessment Of $18.98 per rum
ming front foot is to be divided,
would make it tif divided evenly
between the fourteen sets of
lot Owners) about $l.36 per running
front foot, or $54.A0 for a lot forty feet
in width. In regard co the mode of dl-
viding the cost of Construction, etc..
between the fourteen sets of lot owners
it may not be right to divide evenly on
account of the disadvantage or decrease
of property ON the cable line street. but
my idea is only to make the matter
clear, and therefore I make each OF the
fourteen sets of lot owners. share
equally in the cost OF construction and
also to share equally. in the dividends
front feet. AS to the rule to be fol-
lowed in dividing the cost, etc, of con-
struction between the different streets,
that could be arranged by mutual
agreement or some standard.
The line, then, being constructed
and in running order at
cost of s1.S6 per running front foot, or
S54.4O to forty-foot lot on each of the
seven streets, could be controlled
by a board of directors, who are to ap-
point the different officers, etc. Now,
it seems to me if another corpora
ton can make money out of line of
cable railroad that also this line would
pay it's projectors ashandsome profit.
more so than the other corporation; for
these property owners. knowing that
they have an interest in this line OF
cable railroad, and a pro rata share in
It's dividends, according to the number
of feet of their property on each OF said
streets, will be apt to ride oftener
than before. thereby making the
profits larger. and, perhaps. having
their money, paid in fares,
returned to them in dividends
received from the company out of its
profits. Such cable line could be
built on Marshall, down Nelson, across
Summit, down Sixth to the Ryan hotel,
or to the end of Sixth street. Such
line completed to Minneapolis would
greatly divide the travel on the short
line trains, it not being necessary to
ride to the union or some of the other
depots in order to get off OF on, but may
be boarded at any street crossing. In
case of the sale of any of these lots this
cable line privilege would also be sold
as an improvement on the property; A
line run in this manner could not help
being profitable, as the people on those
streets would all patrOnize their own
line, thereby making it profitable. Keep
your s1OO, 900 bonus, instead of giving it
to Tom Lowry or any one else, and
build your own cable line, and you will
be the owner of the line and receive the
benefit of it's dividends and the increase
of your property resulting from Its con-
struction."