The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1899-06-02
Kansas City,
Bonner Springs
and Topeka
Railway Company,
OF KANSAS,
OF KANSAS.


Total net Observation-Disclosures. .seS6, 666
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 $24,00 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 indemnify Bond in favor of the Kan
sas City, Bonner Springs and Topeka
Railway Company, for 100000 in default
of its not being able to complete the road
between Kansas City and Topeka Inside
of six months from the first day of May.
fications.
With reference to the great commercial
value of the Kansas City, Bonner Springs
and Topeka Railway when in full opera
ton, 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 Goa COM
mittee of business men requested to re-
,nrt fha artt nf thn ante
KANSAS CITY, MO-, April /, 1899.
JAMES L. BROWN, ESQ,
PRESIDENT THE AMERICAN EQUIP
MBNT COMPANY
DEAR SIR: At the request of various
parties desiring to become interested In
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, is 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 s.
900 carloads of Potatoes, 1000 of Fruit, g.
900 of Stock, and almost as many car
loads combined of dairy and manufac-
tured products, such as Flour, Paper,
THIRD-That the Kansas City whole- |
sale houses almost entirely supply the !
cities OF Lawrence and Topeka with their |
provisions and merchandise.
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 3OO 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-
gnated by all American railways for es-
tablishing rates in this section of the
we consider with the better facilities af-
forded by an electric line stopping
wherever required, the same would COM
mard the major portion of the traffic
mentioned.
SIXTH-That conservatively figuring
on the basis Of rates now charged, the
estimated earnings from freight traffic
IAN safely be put at $780, 600 gross per an
lum, or after allowing the usual 66 per
cent. for operating expenses. $l66,000 net.
SEW DNTH-That the necessity of such
I
rom the following facts, which should
assure the earning from that source, viz:
The cities to be connected have COM
1ined population of 100000 people: To-
,eka, the capital of the State, being at
me end of the line. Lawrence, the seat
" the Kansas State University, in the
entire, and KANSAS city. the metropolis
" the West, at the other end; facts
which cannot help but create constant
rayel between these cities If afforded
he proper facilities.
EIGHTH-That Forest Lake. distance
# fifteen miles from Kansas City and
through which the road passes, is the
argest and most convenient pleasure
AXE in the vicinity Of these cities and
which, without doubt, would be of great
value to this enterprise.
NINTH-That the picturesque and fer
lie valley through which this line will
ass would soon develop into suburban
omes. development which has been ne
lected by these cities for want Of proper
transportation facilities.
TENTI-That from the passenger traf-
G now existing between these cities, we
CURE on a conservative basis the esti-
mated earnings from passenger traffic I
hould be $4,000 gross, or allowing &c per
ent. for operating expenses. $4,000 net.
In summing up all the above facts, to-
ether with all other circumstances con-
ected with such an enterprise, we feel
Justified in recommending 1t to all who
lay desire profitable investment, pro-
iding the same Is not Bonded and
locked to exceed $4,000 per mile.
Yours truly,
JOHN w. MOORE,
l.. M. MILLER,
G. l.. BRINKMAN
The following letter from Hon. w. s.
owhcrd, Congressman and ex-Mayor of
.ansas City, Mo-, may be of interest:
.OUSE OF REPRESENTATIVES, u. s.,
WASHINGTON, ID. c., May 3, 1899.
AMES L. BROWN, ESQ,
RESIDENT AMERICAN EQUIPMENT
CO.
DEAR SIR: have examined the
tatement signed by Messrs. John W.
|oore, l.. NJ. Miller and G. l.. Brinkman,
Kansas City. Mo. While am not
posted TO give an opinion Of |
" own as to the value of the enterprise,
do know that the gentlemen whose
ames are mentioned above are men OF