Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1895-10-15
WILLTHE BRlDGEBEBUILT
The Lower End Project Being Brought to
Focus at Davenport.

The Lower End Project Being Brought to
Focus at Davenport.
At last nights meeting of the Dav-
export Business Mems Association
the report of the com nittee COM
posed of NJ. l.. Marks, Mayor Voll-
mer and George I. Baker, appointed
to receive the bridge company's an
swer to the associations promise to
secure subscription to bonds to the
amount Of $50, 900, on certain condi-
tions. was read as follows:
Your committee begs leave to re-
port as follows: Having met the
representatives of the Davenport &
Rock Island Construction company.
who accorded US an opportunity for
investigation, the following PROPOSE
tion has been agreed to, which we
herewith submit for your action:
1.-The Davenport & Rock Island
Construction company. having a con-
tract with the Davenport & Rock Is
land Bridge, Railway & Terminal
company, whereby on the compile
tion of the railway bridge of said
company between Davenport and
Rock Island it will be the owner of
five hundred thousand $500, 000).
par value, of the first mortgage
bonds, and of one million dollars (s1,-
600, OOO stock of said bridge COM
pany, does hereby agree with each of
the persons who shall sign the SUBJ
scription hereto attached, upon pay
ment being made to it as in said SUBJ
scription provided, to deliver to
such person the amount at par bonds
by him subscribed for, together with
full paid stock of said bridge COM
pany of double the amount of said
bonds at par value.
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 Daven-
port & Rock Island Bridge, Railway
& Terminal company for the amount
opposite our names, respectfully. on
the following terms and conditions,
| to-wit:
l. Said subscription shall be pay
able on the completion of the rail-
way bridge of said company between
Davenport and Rock Island, and the
connection of said bridge by single
or double tracks with depots and
terminal facilities in both the city of
Davenport and Rock Island.
| 2. 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 five hundred thous-
and dollars (S500,O0O including
bonds herewith subscribed for. All
bonds bearing five (5) per cent inter.
est.
3. The construction of the piers
for said bridge shall be commenced
within sixty (60) days from the time
fifty thousand dollars (S5O.OOO) OF
subscriptions to this agreement shall
have been obtained, and said bridge
shall be completed for the passage OF
cars thereon on or before three (3)
years thereafter.
4. This subscription list shall be
deposited in trust with the German
Trust company, of Davenport, Ia, in
the event that the payment of the
subscriptions is called for.
Your committee further reports,
that after full investigation we be-
lieve the project worthy of the sup.
port of all citizens of Davenport; tina,
it will broaden our commercial inter
ests; that it will reduce the price OF
fuel; that the earnings will pay the
interest on the bonded Indebtedness
and in short time will pay a divi-
dend on the stock.
a Mass Meeting.
The report was adopted by unani.
nous vote, and after an extended
discussion it was determined to call
a mass meeting tomorrow afternoon
of citizens of Davenport to definitely
dispose of the matter and to ascer-
tain just how the people there are
interested and inclined to move in
the matter.