The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1901-08-30
FRIENDLY INTEREST.
Old Company Feels 1t for the
New.
Board of Trade Committee and Repre-.
sentatives of Old Street Railway
Company Get Toge her.

Tuesday afternoon C. N. Andrews,
chairman of the board of trade special
committee on street railway, held a
conference in A. E. Clark s Office with
that gentleman and S. Wilhartz, the
two local representatives of the pre-
sent holders of the franchise granted
originally to the Mankato Electric
Street Railway, Light and Power Co.
Mr.. Wilhartz, fresh from his confer
ence with A. E. johnson, the Mime
apolis promoter of the enterprise to
float the company's bonds, proposed
that the new company, when organic
ed, purchase whatever the old COM
pany has that can be made of use, at
a fair price in stock of the new COM
pany. He also suggested that the
board of trade committee ask the coun-
Gil to extend the franchise until Oct.
lst, in order that time may be given
for this transfer, and that the new
company may be saved the delay Incl
dent to securing new franchise.
Mr.. Wilhartz stated that his COM
psny has no thought of asking the
council for an extension that it makes
the suggestion merely through a
friendly interest toward the move
ment to secure street railway in
Mankato. He said that his company
has expended many thousand dollars
and it would like to be recuperated to
some extent. What it has to turn over
is good will, a franchise, blank bonds,
articles" of incorporation, plans and
profles that cost S., 600 to Sc, 600 to Sc
cure, contracts for electric lighting,
ETC., the whole having value of $1O,-
900 to $4,000.
In regard to holding it's present fran
chise, Mr.: Wilhartz states that the
company has recently begun new ne
gotiationsr for the'disposal of its bonds
in the east, and these are in a very
promising condition at present. He will
receive letter tomorrow or next day,
stating whether the deal goes through.
If it does. then work will be COM
menced this week to hold the fran
chise, which will otherwise expire Sat-
urday night. If it does not go
through, the COMPANY does not feel
acknowledgements bad,
and..will lay down. MIR. Wilhartz will
NEUTRALITY-SUSPICIOUS. his--com-
pany would expect TO receive. for Its
property.
Mr. Andrews states. thatss--the board
of trade committee, in the light of it's
present knowledge, will mot ask the
council to extend the franchise of the
old company, His committee does not
represent anything more than the
board of trade and public opinion,
and he considers that the latter is
decidedly against granting the present
company any more extensions. How
ever, should it be shown to the salts
faction of the committee that genu-
inc movement is Oh foot which is
likely to lead to the construction of a
road, he would favor an extension, but
would want cash forfeit put up, of
say $4,000, as an evidence of good
faith.
The boardiof trade committee held
meeting this forenoon and talked the
matter over. It felt that it did not
know what the old company has for
sale, and there. is no new company
yet. If new company is organized,
it was felt that it would be glad to-
take whatever the old company has
that will be- available, at what it is
worth.
There is q stong sentiment among:
the people against granting any more
extensions of the present franchise. as.
the people seem to have lost confidence
in the old company. 1t is felt that
the only hope for street railway lies
in a new; company, such as was out
lined at the meeting held last week.
So far as actual work being begun
this week to hold the franchise is con-
cerned, this is generally set down as
being mere bluff 1t is not thought
that the old company is entertaining
any such intention.
W. D.. Willard, of the board of trade
committee, expresses views similar to
those of Mr. Andrews. If the, old COM
pany can build the road, he feels that
it should be allowed to do so, as road
is what is wanted. If it cannot, he
would pay the old company a fair
price for whatever it has that can be
used. He is not in favor of asking the
council to grant any more extensions
under present circumstances.
Fred Kron and w. A. Funk will go
TO Waterloo, Iowa, tomorrow to in
| vestigate the electric railway there,
and will visit Mason City before re-
turning.
Engineer Burch of Minneapolis has
been engaged to prepare plans and es-
Inmates for Car line in this city, but
it is not known just when he will
arrive.
rorICCD I'd INCn rNGINEEDc