Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1895-10-03
THELOWERBRIDGE
Compromise With the Projec-
tors Proposed.
YESTERDAYS DAVENPORT MEETING

Provision Made For Taking Care OF $780,
600 Worth of the Bonds-The Discussion
by Business Men Across the River aud
the ResuIt-Plans Suggested.
At the meeting at the rooms OF the
Davenport Business Mems associa-
ton yesterday afternoon to consider
views and propositions looking to
the success of the lower bridge pro-
ject. the following proposition was
submitted:
1.-The Davenport & Rock Island
Construction company having con-
tract with the Davenport Il Rock ISL
and Railway Bridge company, where
by on the completion of the railway
bridge by said company between
Davenport and Rock Island it will
become the owner of the five hun
dred thousand $500. 00O dollars, par
value, OF the bonds of said railway
bridge company, does hereby agree
with each of the persons who shall
sign the subscription hereto at
tached, upon payment being made
to it as in said subscription pro-
vided, to deliver to such person the
amount at par of bonds by him SUBJ
scribed for.
| And in consideration of the fore
going proposition the undersigned
hereby subscribe for and agree TO
| purchase from said Davenport &
Rock Island Construction company
first mortgage bonds of the DaveI-
port IL Rock Island Railway Bridge
company for the amount opposite
our names, respectively, on the fol-
lowing terms and conditions, to-wit:
Il. There shall be subscribed for
by the residents of Davenport and
vicinity 100000 or more.
50. Said subscription shall be
payable On the completion of the
railway bridge of said company be-
tween Davenport and Rock Island.
IS. The mortgage, or deed of
trust, securing said bonds shall be a
first lien on the said railway bridge
and terminals, and shall secure
bonds to the amount OF S5OJ.O0o, in
Guiding bonds herewith subscribed
for.
II. The construction of the piers
for said bridge shall be commenced
within 60 days from the time $780,
600 OF subscriptions to this agree
ment shall have been obtained, and
said bridge shall be completed for
the passage OF cars thereon on or be-
fore three years thereafter.
rs. This subscription list shall
be deposited in trust with the Ger
man Trust company of Davenport,
| ha . 81
600 shall have been subscribed for. {"
Discussion aud Result.
To an inquiry as to who composed
the Davenport & Rock Island Con-
struction com any, II. c. James, of
ST. Paul, replied that he was direc-
tor and that the company was pre-
pared to assume the undertaking I'M
der the conditions outlined. An ex-
tended discussions followed, during
which w. &. Wadsworth said that he
believed that everybody in Daven-
port wanted to see the new bridge
built and that the opportunity was
now offered to secure it. He was
confident that the bonds would be a
good investment, and that the bridge
would be completed within IS
months after the bonds were sub.
scribed for. S. T. Smith thought
the bridge matter had been settled,
and that Mr.. Blaic and his hackers
were going on to build it. He hadn't
heard of any difficulties that had
been met with, until the meeting
was called. On the street he had
heard statements that the new bridge
was going into the control OF the
Rock Island road. Some explana-
ton. he thought, would be timely.
Mr.. James replied that when the
original offer to build bridge was
made a gratuity of 800, 600 had been
asked. That, if granted, would have
been n sufficient guarantee of the
support of the community. AS that
request had been withdrawn, the
new proposition had been framed to
take its place. More light was in
sisted upon by several Of the bust.
ness men present, and remarks
were made by Mayor Vollmer, ex-
Mayor Ficke and others, J. K. Lane
finally offering the following, which
was adopted:
To Raise $50, 200.
Resolved, That it is the sense 5oi
this meeting. that bonds to the
amount of $4,000 could be sub.
scribed for. provided proper condi-
tions could be put in the contract
and it is not thought greater
amount could be raised.
The resolution was unanimously
passed. but Mr.. James was not read 5
to state whether it would prove sat
isfactory to his company or not. To
receive the companv's answer a com
mittee consisting Of Maj. NJ. L.
Marks, Mayor Vollmer and George T
Baker was appointed.
That joyful Feeling