Arizona weekly citizen., 1892-01-23
ON TO GLOBE.
Prospects Frightening for a
Railroad.
WHAT CAPITALISTS SAY.
Board of Trade Favors Payment
Of Gold Bonds on Condition
That a Railroad be Completed TO
Globe-Probably be Built if it
Will Pay-Inspection Tour.

possessed of any data as TO the business
to Globe. Their explanation of it was
that they have not expected any rail-
road to there, the late defunct narrow
gauge having greatly dampened all
projects in that line. Notwithstanding
1t is not an utter improbability.
Yesterday afternoon the board Of
trade held special meeting to discuss
the matter with Messrs Summerfeld
Bovard and Hole, representing eastern
raiload capital.
Mr.. Hole at the request of President
Hughes, addressed the board. Regard.
ing the non-payment OF bonds Mr..
Hole said that he represented a business
of the handling of bonds, "If We do
veil with the handling of bonds from a
certain place of one issue We may
handle another. If the issue goes un-
paid We have 70 avenue to place more
bonds from the same place. Should
other objects from such a center come up
reference Is made To the first transac-
ton and the business drops. Bonds
nearly entirely so through one of three
places--London, New York or S al Fran
cisco. These markets are acquainted
With all bonds, among them the disput-
ed Pima county bonds. SIR Edward
Lewis is chairman of trade committee
IN England, and IN the case Of your
county bonds lie could only refer 10
other Arizona projects by regarding
them III the same light. Certainly Arr
IONA projects have been hurt by tie eff
feet OF the refusal Of payment on the
Pima couuty bonds, and particularly IN
one case. Can you atfJrd to DO il? Ger
Jalnly the parties holding the bonds
bought them lnnocenty, and paid for
them dollar for dollar. Who is 10 blame?
hese bonds must be met or We must
be beaten. Toe resent suit is to bring
the matter 10 d focus, and 10 know
where we stand with you. The bonds
are held OF the honor and promise Of
the county TO pay them.
I'VE are heartily In sympathy with the
present project If building a railroad to
Giooe prov ded We be shown that it Can
be maze to pay"
Judge culver, at request, made re-.
marks. He has carefully examined the
S-rveys and line of the road and fully eX-
planned them TO the visitors. What the
gentlemen now desire is the amount
of bus ness that could be supplied to
the road.
As prominent business man Mr..
Stelntield WAS asked If he could furnish
data as to The amount OF business going
To Globe. This Mr.. SteInfield could not
do, but suggested that figures could BE-
obtained from the records OF the busl-
Less from the Southern Pacific to Globe.
at Viii cox.
MIR. Cameron in part said that the
people of Pima county did lot consider
tile narrow gauge bonds a just debt,
that tLey ought not be paid and would
Tot unless compelled. AS To placing
bonds on Arzona projects ubsequent to
The narrow gauge bonds Mr.. Cameron
cited the funding bonds, which were
only refused on entirely different
grounds, which objections will be over
come.
Mr. Cameron also thought that the
board srouId be gwen definite propo-
sition. Data could only obtained at
considerable difficulty and he believed
there should be definite proposition on
the part of the gentlemen present, and
that the board work to that end.
+. j. Uen6y made motion to the fol-
loving etfec,:
That it is the sense of this board that
il the present road be completed to
Globe that We recommend to the board |
of SUPERVISORS that the present narrow
gauge bonds ought and shall be paid.
Considerable discussion followed. Mr.. |
Heney said that be would be strongly IL |
favor of The recognition Of the bonus,
we're the road put through, aud oulG |
even, were 1t not in conflict with the |
Harrison act" be ID favor of granting |
new bonds.
Mr.. Graves explained TO the board |
that the present move on the part |
Of the gentlemen from the
east was no new project. That SO long a.
a year aad half back ne mai discussed |
1t with them. He also has had business |
dealing with the gentlemen for years,
and stated that they were abundantiy |
able to carry through any projects they
might undertake.
Some discussion as to law followed |
being explained by Juege Wright ard
Mr. Herey. Ia effect 1t was that the
board of SUPERVISORS had the po Yer tc
quiz VI OlilCl " Jiic OCHNlS. Dl1Cs tCGl-
" making them payable without suit.
That their acts now would be voluntary
not mandatory. Mr.. Heney's motion
mously carried.
Mr.. Summerfield more particular
the railroad interests of tie
par Y, spoEe.
lie was surprised tAat no data had
oeen collect, d on the subject of rail
road TO Globe. He had expected
TO remain Tucson live Or six days, and
now found that be would r, qu're ten.
He has telegraphed east and If matte
requiring his attention there cannot ID.
postponed be will be obliged to leave
and return To Tucson again. He favored
the road building provided there was
merit in 1t. 1t will not be of narrow
gauge but of staOdard gauge. The
great item of transfer would be too ex-
Densive. particularly With the ira, SER of
coal As to coal 1T vii be the chef re-
source of the road. One of their party,
Mr.. Boyard, represented coal interests
IF the east of such extent that could
he proposed road handle one-five hun
ireth of II, it would be a very paying
Investment.
A committee was appointed TO COL
ect data on the subject of profit
)roba Die to such road. The commit
ee consisted of: Mr.. Graves, Mr.
Drake, Mr.. Steintield. l. Golds1hmidt,
len. johnson, and Mr.. Cameron.
Should favorable replies as to the
# Nh. Summerteld's bust
less arrive, a party consisting Of Messrs.
Summertield J. A. Bovard f. w |
Graves and Brewster Cameron will leave
o insIect the proposed route from Tue
on to Globe. They will also visit the
oal fields and inform themselves of the
mineral and other resources which will
,e tributary to the proposed road. IT