The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-06-10

going to make this $4,000 loan TO the
elevator company and they might as
we'll make IL in time 10 enable the com
pany TO handle this years crops and be
done with IL
Asking for time 20 consider the prop
ositior is no excuse for delay. The
proposition is so plain that every man
can understand that il is a safe and
profitable investment by reading n. An
hour is sufficient. In the first place a
subscriber cannot lose. The cost OF the
elevator will exceed s6O, ZOO. II is 10 be
all paid for in cash before the COM
pany gets a cent OF subscriptions Thus
clear certificates viii be issued. based
upon the property, and first lien. for
the Subscriptions. These certificates
are as good as any other security bas-
ed on property FIVE times their value
except that they viii not draw interest
They win be negotiable and transfer
able and as good as q national bank
note at the elevator for storage charges
The company guarantees 10 pay back
the subscription inside OF one year. All
the subscriber can possibly be out Is
the interest and that VIII be only about
seven cents on the dollar subscribed
That interest is exactly about what the
subscribers can make the first year on
account Of the reduced transportation
rate on each bushel of wheat But they
are not asked to put in fifty cents for
every buShel of wheat If they did that
one township alone could build ten ele-
vators. IF a man has 1000 bushels of
wheat and subscribes s25 he can make
s35 alone and at least by reason OF she
reduced freight rate on the agreement
Of the elevator company Thus il can
be seen that he could donate the SIS
and then be SO ahead at the end of the
season. But the elevator company
asks no donation but the site 10 build
on and Wichita viii give that and the
Comemrcial clubs subscription of s.. 600
besides.
Very few people although under
standing the proposition thoroughly,
realize its Importance and value A
simple instance will make il plain 20
them. According to the assessors re-
turns at the court house there are 800
600 bushels of old corn in Union town
ship, and George Steenrod verified that
fact to a reporter for the Eagle a few
days ago. The reduced rate of 80 cents
bushel on this amount alone would
make more than the entire amount Of
the subscription asked. The same re-
turns show that there are 1900. 600
bushels of old corn in the county. IF
the inducements given by the railroads
amounted 10 only half cent per busheI
IL would exactly pay the subscription to
the elevator Thus it can be seen that
the county can afford to give the loan
without touching this years crops at all
or without taxing any other produce ex-
cSpt corn II is the simplest PROPOSE
ton as we'll as the best ever made 70 the
people of this county. 1t would be a
great proposition even if the company
asked for a $40, 900 donation instead of
a loan.
AS stated there can be no loss from
the loan except the years interest at :
per cent This would make 81, 400. This
will not be loss either as you will see
The company will bring an investment
of 100000 into the county or an asses
sable value of $4,000. The taxes on this
property alone would be more than the
81, 400 referred 20. The taxes the eleva-
tor company pays will reduce the taxes
Of every man IN this county whether he
lives in Lincoln or in Erie township.
But then figures are not necessary to
prove the Importance and practica bill
" of the proposition. Everybody
knows it is all right. The only thing
to urge them is the immediate fulfill
ment of the proposition by the people
and the elevator company. Delays are
dangerous. If the $4,000 loan is sub
scribed by Monday the ground will be
broken Tuesday for the building. If
the subscription is made by Monday
week the ground viii be broken the day
after. II the subscriptions are not filled
until next year the ground will not be
broken until next year and in the mean
time some other town may take advsn-
tage Of the opportunity offered 20 WITCH
tia The sooner that elevator is built
the better il will be for all