The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-11-20

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NEW YORK papers publish legal notice
of sale, at noon on Dec. %. of the franchise
to build and operate the proposed rapid
transit railroad in that city. Under the
law of New York all municipal franchises
are required to be sold to the highest bid.
der. The specifications and terms of this
sale arc not given in the advertisement.
but are contained in q pamphlet. From
this il appears that the right to construct
and operate the proposed road will be sold
for 500 years. The purchasers will be re-
auired TO pay 10 per cent. of their bid at
the time of sale. They will also be obliged
to deposit 81. 600, 600 in cash or approved
securities, as q guarantee of good faith.
within five days after notice of the
acceptance of the bid. Failure to
comply with these conditions will
cause the franchise to be put up
for sale second time. The balance of
the amount of the accepted bid must be
paid to the controller within thirty days
of it's acceptance. The purchasers must
also pay the expenses of the rapid transit
commission up to the day of sale. amount
ing in round figures to about 100000. and
such further sum for compensation of the
commissioners as the general term of the
Supreme Court may determine. Witain
two months Of the acceptance Of their bid
the purchasers must organize q corporation
to build the road and enjoy the privilege of
the franchise. The company must have a
capital stock of $4,000. 900 in 50O,0 shares
of 500 each, the subscribers for which must
pay per cent cash on application. The
company will be authorized to issue bonds
for $50, coo. 600 secured by q mortgage upon it's
property, franchise. etc. The work of con-
structing the roads 10 to be done under the
vision of the rapid transit commits
sl0ners. the salaries of whose eng ineers are
to be paid by the company. Before begin
ming work the company must give q bond
to the oity for So. O0O. 900. with good and
sufficient sureties, indemnifying the city
for damages to persons and property In
constructing the proposed roads. Work
must be begun within four months of the
acceptance of the bid, and all the roads
must be In running order within five years
thereafter. OF course such franchise as
this will be worth an enormous sum. but
under the public sale system IL is probable
the city will get about Its full value. This
IL great Improvement on the plan Of prac-
tically giving away franchises which pre-
walls in most Western cities
OFFICERS in the United States cavalry
service are laughing at tn wonderful feat
heralded from Germany, in which four
lightweight crack cavalry officers rode
from Berlin to Vienna. y distance of $50
miles, in about three days. riders aud steeds
reaching their destination completely OK
hausted, two of the horses dying. The In
dian ser vice in this country is full of in
stances in which this unparalleled feat"
was eclipsed. In 1879 several couriers rode
from ThornburR's command hemmed in
with indiana, ITO miles in less than twenty
four hours In 1913 Colonel Mackenzie rode
ont after the hostiies. beat them IN sharp
figh: and returned, covering 145 miles IN
twenty eight hours In 1921 captain of
the Eighth Cavalry rode eighty-four
mii9s in eight hours. A courier. carrying
dispatches in New Mexico, rode 500
miles in three consecutive nights to
escape the Apaches, and returned in the
same time. These feats over the deserts of
New Mexico and Arizona attract no atten-
ton. but all Europe appiauds when light
weight rider covers $50 miles in three days
over the smooth roads OF Germany and
Austria.
WILLIAM MORRIS. one of the candid ates
for the poet-laureateship has new poem
beginning:
Hear q word, word in season. for the day Is
drawing nigh
fl.a Gan sltal1 1sx-o
and some to die
William must have had in mind the
threat of his country woman, Miss Couzens.
to advance with regiment of sisters,
armed with dynamite. upon the obstinate
Britons who deny them the suffrage.
Tile nranriefor of tho Pionarr Knitting n