Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-04-15
THE WESTERN ROAD.
Seventeen Trustees 10 bs Selected 10
Conduct Business.
COLLECTION or SUBSCRIPTIONS.


Tho COMMITTEES on the railway to
Deep Creek met at the Chamber OF
Commerce again last evening TO take
further siepl In forming tho Salt Lake
a Pacific Railway company and get.
ting ailairs On working basis. ]. w.
Donnellan was cha rman and g. Il.
Wanilaud secretary.
There was some discussion rs to
whether trustees should b. selected
before subscriptions were asked for,
ami u was decided to select them mt
as early date a. possible. Fer this
purpose g. Y. Wal ace, w. II. Rowe,
L.. t. CJlbirn, l.. =. Kelsey, f. AusI-
bach ami II. NJ. Wells were chosen
committee to present the names Of
iiity citizens, from which list the
seventeen trustees shall be elected by
tho sto 'khollvrs. II was agreed that
the Mayor Of salt Lake city should DO
ex-)tlico oue Of tbs trustees.
II. NJ. Wells, for the commit zee on
securing hail Tor u pIblic meeting In
the interest OF tho new railroad, TO.
ported that tue Iirst night an open date
could be hal at the Salt Lake ThcAter
was next Monday week, The COM
miitee was instructed 70 secure the
Thoator for the dtt', when n mass
meeting Is to be- htld.
The following healing for the sub
scriptlon papers was adopted;
"Whcreas, 10 10 proposed to build,
equip aud operate standard gauge
railroad iiom Salt LIKE city westward.
to DO known M tine Salt Lake and
Pacific Railroad company and
"Whrreas, To DO ~, l. IL necessary
10 get subscriptions 10 the capital stock
OF said company 70 the amount OF
about sh0O,0JO, and
"Whereas, This capital stock OF said
company will be sl,OJO.0J0, divided
into 10000 shares, OF tue par value OF
S25 per share,
Now, therefore, we, the undersigned,
agree, each with the other, to sui
scribe for and purchase at par OF the
capital stock OF said company, the
number OF shares set opposite Ouf
respective names, said stock To BIS paid
Tor as follows, to-wil: The Hrs. pay.
ment Of $3.50 per share ou dDmanI ~
said company, and s3.7b per share on
or before sixty days SITTER the demand
for said first payment, and the third
payment Of 500 per SNARE on or be-
fore sixty days nfter the demand for
the second payment, and s3,25 per
share on or before sixty days after the
iemand for tue third payment aud
500 per share on or alter the demand
Iur the fourth payment.
70 the end that control Of said com.
J pany may rest with subscribers, an,s
said roai be and remain n local aud
home road In management, subscIip'
tons hefttl are upon the express GOA
dition that 8 per cent Of tne capital
stock OF said company shalt be pooled
aud voted as uuit, by seventeen
trustees elected by tue stock holders
rom the following named persons
Here are 10 be mentioned fifty ciuZhni
from whom the seventeen are to b.
sulecteJ.l The names will be reported
!. to this evenings meeting Of the com
10 inltttc.
It's expected that the NJ oney re
= ceivcI rom the final sale OF b)nds vii
I be sufficient to reimburse tho stock
4 holders for the money they advanced
1 80 that they viii secure their stoc
4 tree. The payments as fupulate
4 above are 10 per cent on ue mand, i
| per cent In two months, 20 per cent i
. four months, 20 per cent III six month
l and 25 per cent In eight months. tn
. committee adjourned TO meet Mt til
{ chamber of commerce this evening.