Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-10-11
WILL BU|LD IR[ ROAD
President Of the Des Moines 4
Northern Says Plenty Of Money
is in Sight.
Line Will Be Built to Webster
City From Dss Moines With.
in a Year.
Eastern Capitalists Ready to Take
Bonds-Not a Paper
Road.

= :
Bonds-Not Paper
Road.
Des Moines. Oct. 11.-Arthur Reyn-
olds. president of the Des Moines Ma
tional Bank, who returned from Europe
on Saturday, states that while in the
east he had completed arrangements
whereby money in abundance could be
secured for the building Of the proposed
Des Moines & Northern railroad from
this city to Webster City. Mr.. Reyn-
olds is president Of the company which
proposes to construct the line.
There is no trouble about raising the
money for this road" stated Mr.. Reyn-
olds. While i Was in the east made,
it my special object to look up firms
in regard to the placing of our bonds.
There is absolutely no question about
the tinancing-that is the easiest prop
osition we have had TO contend with.
True, 1 did not anticipate it would be SO
easy TO place the bonds of the COM
pany, bu, after a few interviews with
eastern capitalists ii was an easy mat
Ter. 1t is remarkable the amount Of
money there is in the east looking for
Railroad bonds are wanted
and on this account there is little trou-3
BILE with companies of backing to get
plenty Of funds for building and equip
ment.
Upon my return ! conferred with
several of my associates in regard to.
the progress made during my absence. 4
was surprised at the amount of work
done, and can say that it is very graft
flying. We have secured some of the
right-of- and our agents are now
in the field working for more, as well.as
running a survey.
The projectors Of the Des Moines &
Northern road will meet this week and
go over the situation. The fact that Mr..
Reynolds will have no trouble in plac-
ing the bonds of he road and that the
work thus far done on the new project
has been so successful. makes the Des
Moines & Northern project of consider
able Importance. The line of road now
contemplated by this company will run
from this city north to Webster City.
From there the road will extend to
Clarion and in a northerly direction.
Mr. Reynolds states that the financing
If the road would be completed within
thirty days-siSty at the outside, and
Immediately after this was accom-
plished the company would advertise
for grading bids and get down to real
work. 1t is expected that the contracts
for grading will be let on Dec. I. Some
of the contractors will get to work dur
ing the winter months. Much of the
grading can be completed during the
winter. Long cuts can all be dug out
and MANY Of the bridges completed. In
lthis way the early spring can be de-
voted to making connecting grades and
line LAYING of the steel. If winter work
lis done on the line it is believed the new
lroad will be in operation by the first of
| July.
There seems to be little doubt now
about either the Des Moines & Northern
ar the pes MONIES. Iowa Falls & North
arm. Roth Of the roads have men Of
wealth behind them and both sets of
directors mean business. President Ellis
worth of the latter road, is an old rail-
roa,, man. one Of immense wealth and
one VINO has bonded roads with the
nai in brokers' of Wall street. Mr.. Reyn-
l,ids e a man of wealth. one who has
even better connections than Mr.. Els
worth. and who can easily finance the