Little Falls transcript., 1893-09-29
Bad HsNONE.I IPRoPosITPN.
The Official Offer OF the Mis-.
sissippi 9. Leech Lake Rail-
road Company.
1t Is a Very Fair One, and Cen.
not he Criticised on Kny
Technlcalisy.

~ AZ q NSIJ = alI A1nE, dno NEnA
not he Criticised on Eny
Technicalisy.
No Railroad Bonde to he De-
livered Until the Water Pow
rBondsH Hre Surrendered.
Stock Of the Railroad Company
Given to the Hmounts OF.
Bonds Voted. 81
To Frank Eilenbecker as Auditor OF Morrison
county. State OF Minnesota.
Sir: The Mississippi Leech Lake Railway
company. & corporation duly organized, created
and existing under and by virtue Of the laws Of
Morrison county, in the construction Of its rail-
road in said Morrison county. as hereinafter
more fully set forth hereby makes and deliver.
TO you as said County Auditor, this proposition
in writing. to-Wit:
The said Mississippi & Leech Lake Railway
COMPANY desires aid from said county OF MOrri-
son In the said state OF Minnesota, which shall
consist OF the bonds Of said county OF Morrison.
maturing thirty years from the date thereof and
bearing interest at the rate OF per cent per an
nun, said interest payable semi-annnally on
the first day OF January and the first day OF
July; principal and interest payable at the First
National bank Of st. Paul, in the city ofSt Paul.
State OF Minnesota. Said bonds to be In denon-
ination OF one thousand dollars each par value
and theamount in the aggregate at par value to
be the sum OF sixJy-fve Thousand dollars, $780,
O00) the same to be given to the said The Missis-
sippi & Leech Lake Railway company. to aid the
said The Mississippi 4 Leech Lake Rail-
way company In the construction of q
standard guage railroads in said Morri-
@ limits Of the city Of Little Fails in said Morrison
county. thence southerly to The city OF st. Cloud
or the station Of Albany in the county OF Stearns
by the said The Mississippi & Leech Lake Rail-
way company. or to a point to be designated by
the said railway company between SAID city OF
st. Cloud. and said station OF Albany. on the
line OF what 8 generally known as the st. paal.
Minneapolis & Manitoba railroad IL being un-
dersteod aud agreed that the said The Missis-
sippi G Leech Lake Railway company will ut the
time that the bonds herein asked for are de-
posted in escrow rs hereinafter provided for,
deposit with said escrow those certain twenty
five bonds OF the county OF Morrison. dated
August l, 1887. each at par value ($i.ooo) one
thousand dollars. issued to Little Falls Water
Power Company of Minnesota. to he Cancelled
son county as a condition precedent to the de-
livery to the said The Mississippi Ieech Lake
| Railway company Of the bonds OF said Morrison
county herein asked for to be given said railway
NSoAS"
road as hereinbefore set forth.
! 1t being understood and agreed that the said
The Missis>ippi& Leech Lake Railway company
shall construct aud conn lete ready for the passage
OF cars thereon, its said railroad us hereinb fore
described. tn be designated as hereinbefore pro-
| vided, on or before two ~ years from the date
par value OF the bonds OF Morrison county. being
the said bonds herein asked for are placed in e.
| crow as hereinafter provided for. .
/ The said sixty-fve thousand dollars ($65 0C0)
| n0 n "A Of nty ho
ing the bonds asked for in this proposition. tc
| be delivered TO the said The Mississippi & Leech
LAKE LAKE Railway company PAM % when 1T Its M said railroad
! cars and within the time as hereinbefore pro
vided for. The said sixty-hve thousand dollars
| ($85, ,000) par value OF the bonds OF Morrison
| county, being the bonds asked for in this propo
sition to be Issued forthwith aire: the election
provided by law, and placed with H. p. Upham
president OF the First National bank OF St. Paul
Minn., in escrow us trustee, and the said a. p
| Upham. as said trustee and custodian OF sai(
bonds, to deliver the same to the said The Missis
4 sippi & Leech Lake Railway company upon tn,
completion OF it's said railroad as hereinbelOr
SCI forth, but at the time of such delivery, sait
trustee shall detach from each OF said bonds al
interest coupons. which have bec,,lne due up tt
the date Of The completion Of said ra lroad
bonus aid, and such detached interest coupons
shall be therenpon Cancelled and returned t,
said county OF Morrison, and the said Mississippi
consideration of the issuance and the delivery o
said sixty-ive thousand d. liars t$s5.0uO) pa
value OF the bonds of said Morrison county, be
ing the bonds herein asked for, ut the election O
said county OF Morrison issue to snid county O
Morrison. an Amonht Of its capital stock equa
to par value oi the principal sum OF said bonds
so to be delivered to said The Mississippi !
Leech Lake Railway company by said Morriso
county to-wit: Sixty-fve thousand dollar
1865 00O) par value, and the certifrate or tn
certificates OF shares OF said capital stock to b
deposit of said bonds wit the said H p. Uphan
be PLACED With the said H.P: upham iu eseero,
BY the sala TAa MssgSspp ~ ee Lake Rail
thoritcs OF said Morr son county, II said count
SO elects. upon the delivery to she said The Mis-
sissippi & ] eech Lake Hallway c mpany OF sai
for to be issued to the said The Mississippi Leec
| Lake Railway company.
In witness whereof, The Mississippi & Leec
, sitien TO be Signed by its president. % G.
We. erhaenser, and by it's secretary, Drew Mussel
end its eorp9rate seal to he hereqpto ,os sshlxee
Duly attested this . day q rxrpu.r1Is$p 1884,
Vice-president.
Att1se; pErv Nussrn SEAL
Secretary. w.
Above is the proposition Of th
, railroad company to Morrtso
county. and it is similar in form t.
! the propositions to the city of Littl
: Falls and towns Of Pike Creek, Bell
, Prairie and Little Fails, excepting l
the amounts of bonds voted, and tn
: famount OF Water Power bonds to b
, cancelled. In the towns o. Elm Dal
: and Two Rivers there are, Of course
no Water Power bonds to be car
} celled, and the proposition provide
3 that the town bonds are to he Issue
z only in case the railroad d runs tllroug
/ the town from the northern to til
( southern boundary line.
The mounts OF bonds asked frO1
e the towns and city are as follows:
!, Pike Greek, 1900 railroad bond
} for which $1,000. in railroad stoc
e will be given and $4,000 wate
2 power bonds cancelled.
! Relle Prairie, $5, 900 railroad .bond
for which $4,000 in railroad stoc
t will he given and $10, 900 waterpowt
e bonds cancelled. ~
: Little Falls town $500 for whic
$3500 railroad stock will be given an
$25O00 water power bonds cancelled
Little Falls city S13,500 railroa
. bonds for which $13,5OO railroa
I stock will be given and $25, 900 wat.
3 power bonds will be cancelled
Q Elm Dale $4,000 railroad bonds fl
! $4,000 railroad stock providing tt
: line runs through the town from, II
northern to southern boundary.
Two Rivers $4,000 railroad bono
: for $4,000 railroad stock proyidin
the railroad runs through the tow
: from northern tOsOuthern hoHndar
Z The towns OF Belle Prairie. Pill
e Greek and Little Falls great
q reduce their debt. and the reason
n for 1t are TINT that undei.the genei
s law they cannot vote as large a boz
u as they were allowed to under tt
), special laws, and that the terr:tOl
y of these towns had been great
n reduced by the city, which took fro
Is each OF them their most valuab
= tracts OF lan:l. THE city votes ali
lis allowed to under the law. ar
assume as much as it woul
be perfectly willing to.
The towns Of Two Rivers and 81!
II - ,s.sl