The weekly tribune. [volume] (Great Falls, Mont.) 1891-1894, 1892-04-02
Continued from first page.

unfolded his plans to Mr.. Hill, giving
a full and faithful report OF the situa-
ton. The latter was quick to see the
strength of the position and the great
value in the near future OF the lands
above the falls. Added interest on the
part of Mr.. Hill was given to the prof
ect at that time because he was just be
ginning to think of the extension of his
railroad system and perhaps to dream of
the Manitoba" as a transcontinental
line of shorter distance and with lower
grades han any other route. He mani
tested the greatest interest and Mr..
Gibson was given carte blanche to carry
out his PROJECT.
Gle returned to Montana and entered
upon the work with enthusiasm. Great
caution and diplomacy were needed at
the "utset and these were displayed to
perfection. The work progressed favor
Obly and in two years after it's Inaugural
ton Nj. Hill came to Montana and visit
ed the future metropolis which was then
a town of one tent. He came, he saw
and was conquered. His enthusiasm
xnew no bounds. He said it was a
natural site for a city and would be a
great one. He promised that the time
would not be long until Great Falls
would have direct railroad connection
with the east and the pledge was kept to
the letter. BY a marvellous feat in rail
roat construction one season saw the
Manitoba extended from the Dakota
plains to Great Falls, and from that
time dates the rapid and permanent
growth of the city.
During the first two or three years of
Great Falls career it was a private en-
terprise, the ownership, so far as proper
ty was secured, being in Mr.. Hill or Mr..
Gibson, but as the project enlarged and
the interests increased in value it was
deemed best to enlist new capital and
form a joint stock company to carry for
ward the extensive townsite and water
power projects contemplated. Hence
the organization of the Great Falls
Water-Power and Townsite company
which is today one of the strongest cor
porations in Montana.
This company was organized May 9,
1887, when articles Of incorporation were
filed with the secretary Of the territory.
The capital stock is S5,000,OOO in 500
shares, all paid in. The trustees for the
first three months were G.. A. Broad
water. Paris Gibson and l.. G.. Phelps.
Sam Nichols of st. Paul was elected
FtClCtulN III tiCusuiCl dio
in that capacity until December of the
same year when he rendered his resigna-
ton. On August 9, 1887, the first an
nual meeting of the company was held
when j. j. Hill, G. \. Broadwater, Paris
Gibson, Chas. II. Benedict and l.. &.
Phelps were elected trustees. Mr.. Broad
water was chosen psesident, MIR. Gibson
vice-president and Sam Nichols sec
rotary and treasurer. On December ,,
1887, A. Z. Dickerman was elected
treasurer of the company and G. M.
Webster secretary. These gentlemen
served the company faithfully until
September %, 1890, when they resigned,
each to enter for himself the banking
business in this city. On the last men
toned date Mr.. J. j. Hill became presi-
dent of the company, Mr.. j. Bookwalter
general agent and w. w. Conner sec
rotary and treasurer, these gentlemen
being the present efficient officers.
The principal stockholders of the
Great Falls Water Power and Townsite
company are j. j. Hill, Paris Gibson and
G. A. Broadwater. The stock, in smaller
blocks, is widely distributed among
prominent fnanciers and statesmen of
the country, and is much sought after as
a secure and permanent investment. For
some time past the stock has sold at a
premium, showing the m value
Of the company's assets and at the same
time the good opinion capitalists have of
our city, which is the basis of the COM
pany's wealth and prosperity.
The TOwnsite company has always
been progressive and enterprising. 1t
has fostered and promoted every possible
enterprise calculated to promote the
general welfare of the city. When the
county was too poor to take the matter
m hand it built a splendid bridge across
the Missouri river at a cost of $4,000.
To both the Montana and Boston L.
Montana smelters liberal land endorse
ments were made and other inducements
offered to bring those important enter
prises to this place. The dam at Black
Eagle falls, one of the greatest enter
prises of this character i'll the world. was
built by the Townsite company at a cost
OF 100000, and the city park of over 125
acres, worth $1,000 and acre. is a free
gift from that company. These items
are mentioned merely to show the broad
and liberal policy of the company to which
in no small part may be attributed the
rapid growth and unusual prosperity Of
our city. The Townsite company will
have fine offices in the new building and
its success and prosperity in the future
will doubtless be in proportion to that
of the past.