, 1890-05-25

pany should also bear its proper proper
lion.
For these reasons we have deemed 1t
advisable to change the character OF the
proposition of the said company as made
this afternoon, and we submit herewith
the following suggestions;
First-That tor q smelling plant ln-
volving an investment OF not less than one
hundred thousand dollars the company
receive seventy-fve thousand dollars in
outside lands within one and one-halt
miles of Cheyenne, and twenty-five thous-
and dollars in city property. The Values
of SAID lands to be based upon present
prices and to be asceItained by a board Of
appraisers consisting of one person APP
pointed by said company, one person ap-
pointed by the Cheyenne Board of Trade
and one person appointed by the Chey-
enne Real Estate Exchange. The yalua-
ten OF said board to be absolute and
final.
Secondhand for every additional ten
thousand dollars invested, but not to ex-
coed two hundred thousand dollars in all,
in said plant, an equal value in lands and
property to be donated as proportional
above.
Third-Said company to receive water
for a nominal consideration from the city
mains, provided the city council agrees
thereto, the cost OF the connections, how
ever, to be borne by the said company.
Fourth-The city council and Board of
Trade and Real Estate Exchange to use
their best efforts to secure switches, rail
road facilities aud low freight rates for
said company.
Fifth-Work on the buildings to COM
mence within sixty days from the compile
ton of the bonus subscriptions, and to be
finished with dispatch and at a date not
later than - months after the com
mencement OF work.
Sixth-The lands and property do
mated as above specified to be conveyed
by the donors TO three trustees to be
agreed upon-they to hold such real es-
tate IN trust and to dispose of the same
as the work on such smelling plant prog
resses, as follows: Whenever such
company shall demonstrate to the trus-
tees that it has expended ten thousand
dollars toward the completion OF said
plant, the trustees shall dispose of FIVE
thousand dollars worth of such real es-
tate for the benefit of the company: and
the trustees shall dispose of a like amount
of real estate for every ten thousand dol
lars so expended until the plant is com
pitltu. huu tue DdlduCt VI ully per
cent Of such real estate shall be disposed
OF by such trustees for the benefit of the
company whenever they shall be satisfied
that the said smelling plant is operated
successfully, and shall also receive an ac-
ceptable guaranty that the said smelter
will be operated continuously for a period
of not less than FIVE years.
HENRY G. HAY.
CHAs. w. RINER,
j. q. BAIRD.
Mr.. King said he recognized the force,
justice and equity of the position of the
committee standing between the donors
and beneficiary and could find no fault
with the disposition to protect citizens
against possible loss. The proposition
was not what he had expected and he
would require time in which to consider
il. Was utterly unable to say any
thing to the question until he could digest
the terms of the proposed agreement. Il
don't want the people of Cheyenne 10
give something for nothing. Whatever
the contract may be, | believe you will
get full value"
There were brief. busincss-like talks by
Messrs. Baird, Menges, Riner, Stubs,
Jeffrey and Coutant in which the manner
Of securing and granting the land was
pretty fully discussed.
To give Mr.. King time to study the
committee report, an adjournment was had
to 2 o'clock tomorrow afternoon at the
city hall. At 10 In the morning Mr.
King will meet the committee at the
Board of Trade office.
Mr., King had last evening overstayed
bis time two days. but realizing the i'm
portance of these negotiations has con
scented to remain over until Tuesday
morning.