The herald., 1897-07-11

age and license to those who ad ulterior
objects In view, not in accord with the
spirit of the work that had been accom-
plished, and their actions caused some
of the creditors to become uneasy, which
resulted in the appointments Of receivers,
just at the time when the last work was
completed and before we had an oppor-
tunity to show what could be accom-
plished with a completed road and build
ings This action has also reduced the
value of the property to not more than
rs per cent of its original value.
In addition to this loss to investors,
of which myself and family represent
more than one-half, this country has
| lost in advertising and prestige more
than can be estimated, but as great as
this loss is far greater one, not only
to the invested capital but to this whole
country will result If the plans 1 have
laid for the establishment of the scien-
tific institution on the mountains are
not carried out, to accomplish which
only requires fair, just and honest
treatment and the recognition of the
proper interest l am entitled to retain
in this work. This does not mean that
ask to be reimbursed one dollar for
the large investment of an accumulation
of lifetime, l only ask that after the
bondholders and smaller creditors have
been reimbursed, either in money or
first mortgage bonds on the property
covering both their expenditures and
mine, that we, have the same position as
TO stock in the new company as we hold
in the old. Certainly If the bondholders
have all in the new company that they
ever had in the old, we are entitled to
what we had, as the stock can only be
made of value and the bonds made to
pay interest by the extra attractions, as
indicated above.
The crowning work Of all this heavy
undertaking is the establishment of the
great astronomical observatory designed
for the summit Of the mountains, and
meteorological and other branches of
science, all under the auspices of the
scientific institution, which l have had
in view to establish in some locality
for nearly forty years, to accomplish
which has always stimulated me to ex-
ira effort.
While in the east during the past WIN
ter. preliminary arrangements were
made. aided by my old associates, and
long been connected, for completing the
equipment of the institute; all depen-
dent, however, upon the proper adjust
ment of the affairs Of the railway and its
encouragement in the way of transpor-
tation of the necessary freights. etc.. for
the purpose. Already more than quar-
ter of million of dollars worth of OBJ
jects of interest, instruments and mon
oy h tesIa - y, t.
and am more than confident that I can
get sufficient donations from eastern
friends if am not too long delayed,
many of whom owe their large for
tunes and success to my inventions, and
are only too glad to thus aid in the ad-
vancement of science as proposed. 1t is
these attractions that will draw visitors
from all parts of the world, that will give
value to the securities of the railway and
regain the prestige lost during the past
year.
Under the auspices of such an institu-
ton, regular climatic observations from
an elevation as high as Manitou in Col
orado to the level of the sea, taken daily
and given to the public and the medical
fraternity throughout the United States,
will draw hundred fold more people to
this coast than has ever been dreamed
Of by the most enthusiastic on the merits
Of our climate.
In addition to the great dome for the
largest and best designed telescope, CAL
culated to open up the mysteries Of the
heavens as no instrument has ever been
able to accomplish, another main build
ing of the institution is designed with
sufficient objects of interest to fill it from
one end to the other, is to be so feet in
width by 250 feet in length, containing
an assembly room to accommodate the
various conventions which it has be-
come so much the fashion to hold in the
mountains, as we'll as scientific and other
lectures. religious services, music, etc.,
etc. This. with proper structures for
weather observations at various alti-
tudes, 1t will give a start greater than
many of the largest and most flourish
ing educational institutions Of the coun-
try had. The Franklin institute, organ
lied in Philadelphia nearly a century
ago, and always doing a vast amount of
good, with membership running into
many thousands, will be one of our CO.
workers. AS soon as we are in proper
shape summer classes in astronomy, ar
chaeology, meteorology, botany, geol-
ogy, etc., will visit us from all parts of
the continent. This will in turn bring
vast numbers of the most desirable class
to dwell among us.
1t is now conceded by all that every
business house, banking institution,
house owner, etc., has been continually
reaping benefits as result of the work
already accomplished. How much more
would this benefit be extended, and to
every class, with the entire plan carried
out as designed?
In carrying through this undertaking. &
the object of myself and family has
never been that of money making, but on
the other hand, whatever interest we
might have in the railway is, and always
has been, intended to be devoted to the
support of the institution above out
lined Ga gift to the public), and now
what properly belongs to us is only de-
manded for whatever benefit it may be
to the institution, which in turn will
first benefit the bondholder, and then by
its own establishment give some income
to the stock for its support. Quite num-
her of stockholders, knowing the object
had in view, have offered to contribute
a part, or even all, of their holdings if
lit would help to bring about that result.
If this is considered by individuals to
be Of sufficient Importance to warrant
them in making contributions, Los An.