The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1899-06-03
Kansas City, 90 !.
Bonner Springs
and Topeka Z
Railway Company,
OF KANSAS.


Almost eight times more than sufficient
to pay the annual interest upon the First
Mortgage Bonds now issued.
The American Equipment Company has
taken the contract from the Kansas City,
Bonner Springs and Topeka Railway to
build the railway from Kansas City to
Topeka for an average price OF $24, OOO per
mile, including bridges, and has agreed
to accept in payment therefor two thou
sand acres of land. together with the
stock OF the Kansas City, Bonner Springs
and Topeka Railway Company, and its
First Mortgage Gold Bonds issued not to
exceed $4,000 per mile, and guaranteed
to be first mortgage on its completed
railway not to exceed that amount, free
and clear of all liens and claims what
ever, by certificate attached to each
Bond and signed by the National Surety
Co., Of New York, agreeing to indemnify
the holder Of such Bond for an amount
equal to the face value thereof in default
Of such being the case.
In accepting the contract the American
Equipment Company has had executed
an Indemnity Bond In favor Of the Kan
sas City, Bonner Springs and Topeka
Railway Company, for $4,000, In default
OF It's mot being able to complete the road
between Kansas City and Topeka inside
Of six months from the first day of May,
A. d. 1888, according to terms and speci-
fications.
with reference to the great commercial
value of the Kansas City, Bonner Springs
and Topeka Railway when in full opera
tion, no better evidence need be offered
than the following letter from Messrs.
John W. Moore, president Kansas City
Board of Trade; L. M. Miller, president
Zenith Milling Co, and G. L. Brinkman,
President Kansas City Milling Co.. COM
mittee of business men requested TO re-
port on the merits Of the enterprise:
KANSAS CITY, MO-, Aprils1, 1899.
JAMES L. BROWN, ESQ. -
PRESIDENT THE AMERICAN EQUIP
MENT COMPANY
DEAR SIR: At the request Of various
parties desiring to become interested In a
profitable enterprise, we the undersigned,
were chosen to investigate the merits of
a proposition to build an electric railway
up the Kansas Valley to the City Of To-
peka by the way of Forest Lake, Bon
ner Springs and Lawrence, reported as
follows as the result Of our investigation:
FIRST-That the line projected by the
Kansas City, Bonner Springs and To-
peka Ry., and for which most of the
right-of-way has been secured Ks the
only practical route for an electric rail-
way between these cities.
SECOND-That the territory through
which this line will pass Is one OF the
most productive In the United States,
yielding on an average per annum OF D.
900 carloads Of Potatoes, 1900 OF Fruit, q
QUO of Stock, and almost as many car
loads combined of dairy and manufac-
tured products. such as Flour, Paper,
Merchandise, etc.
THIRDIThat the Kansas City whole
sale houses almost entirely supply the
cities of Lawrence and Topeka with their
provisions and mercha ndise.
FOURTH-That the rate OF freight
charged by the trunk lines now operat-
ing between these points Is almost as
much as the rates charged by the same
lines from Kansas City to the Mississippi
river or st. Louis, distance OF soo miles,
or five times the distance between the
same point and Topeka, a fact which Is
due to these cities not being located on
the Missouri river, the basing point des-
ipnated by all American railways for es-
tablishing rates in this! section or the
country.
we consider with the better facilities af-
forded by an electric line stopping
wherever required, the same would COM
mand the major portion Of the traffic
mentioned.
sIXTH-Tha, conservatively figuring
on the basis of rates now charged. the
estimated earnings from freight traffic
can safely be put at s50O. 900 gross per an
mum, or after allowing the usual SO per
cent for operating expenses, $l6S,0 600 net.
SEVENTH-That the necessity OF such
a line for passenger traffic Is apparent
from the following facts. which should
assure the earning from that source, viz:
The cities to be connected have COM
bined population of 100000 people: To-
peka, the capital OF the State, being at
one end Of the line, Lawrence, the seat
OF the Kansas State University, IN the
centre, and Kansas City, the metropolis
Of the West, at the other end; facts
which cannot help but create constant
travel between these cities afforded
the proper facilities.
EIGHTH-That Forest Lake. q distance
of fifteen miles from Kansas City, and
through which the road passes, Is the
largest and most convenient pleasure
lake in the vicinity Of these cities, and
which, without doubt, would be of great
value to this enterprise.
NTNTH-That the picturesque and fer
tile valley through which this line viii
pass would soon develop Into suburban
homes development which has been ne>
elected by these cities for want of proper
facilities.
TENTH-That from the passenger traf-
flc now existing between these cities, We
mated earnings from passenger traffic
should be $360,000 gross, or allowing 6s per
cent. for operating expenses, $l20, goo net,
In summing up all the above facts, to-
gether with all other circumstances con-
nected with such an enterprise, we feel
justified in recommending 1t to all who
may desire q profitable investment, pro-
yidng the same is not Bonded and
Stocked to exceed $4,000 per mile.
Yours truly,
JOHN W. MOORE,
L. M. MILLER,
g. l.. REINKMAN
The following letter from Hon. w. 8.
Cowherd, Congressman and ex-Mayor of
kansas City, Mo-, may be Of interest:
HOUSE OF REPRESENTATIVES II. s.,
WASHINGTON, d. c., May 3, 1889
JAMES l.. BROWN, ESQ,
PRESIDENT AMERICAN EQUIPMENT
Co.
DEAR SIR: have examined the
statement signed by Messrs. John w.
Moore, L. M. Miller and g. L. Brinkman
Of Kansas City. Mo. while am not
sufficiently posted to give an opinion Of
my own as to the value Of the enterprise,
/ do know that tho. Gentlemen Wh0se