The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1901-12-20
CHASE'S TERMS.
Wants 100000 Bonus and
$4,000 For PreIiminaries.
Mankato Asked to Put up SIS, 900,
Twenty Acres of Land, and Right
Of Way to 0shawa.


! of trade has received letter and pro-
posal from Col W. 81. Chase, who is
promoting the proposed electric rail
way line from Mankato to st. Cloud
i by the way of Hutchinson. He says
T., he was highly pleased with the coun-
| try and the reception everywhere given
his proposition. The country, he says,
! is probably the garden of Minnesota,
and the line can be constructed on easy
grades. He contends that the freight
traffic would make the road paying
one from the start. Continuing he
says:
81 shall take the matter up with my
eastern associates, copy Of this letter
going@@ to them. and shall urgently
recommend that they push the line
through to an early completion, pro-
vided the people from Mankato to st.
Cloud show interest sufficient TO war
rant us in making the necessary in
vestment. Upon another sheet have
| indicated what would be asked of the
towns and cities along the line. This
matter should be arranged for imme-
diately, so that we may know just
what we can depend upon. There is
also preliminary expense which must
be arranged for by your people, as
| follows:
| Survey, $4,000; engraving (steel)
and printing bonds, So, 5OO engraving
and printing stock, 81, 500; prospec-
tus, 81, 600; incidentals, 81, 900; total,
$12, 900.
"The company should be incorpor-
! ated at once for two million, with
power to increase the capital. AS soon
as incorporated, officer the company
among yourselves, except that l will
furnish three directors in case you
, have five, four in case you have seven,
and my bond people will insist that
be made vice president and general
manager of the company. The stock
should be equal to the amount of the
bond issue; bonds to be issued from
| time TO time as the road is built. The
bonus of $500, 900 that 1 have asked
along the route can be taken by pri-
vate subscription for stock, say at so
cents, 5000, 600, payable only as road is
built, equipped and operated from
point to point, say $40, 900 pro rata for
each ten miles built You can do this,
or you can have bonuses voted by your
towns and cities, just as you prefer.
If the latter, it strikes me that the
following would be fair basis:
"Mankato, $50, 600; New Sweden,
81, 500; Gaylord, $4,000; New Au-
burn, 81. 500; Hutchinson, St5, 600 !;
Dassel, $1,000; Kimball Prairie,
5000; st. Cloud, s25, 900; total,
800, 900.
81 would suggest that you take this
matter up with your people at once
and let me know the result. If they
meet the requirements I promise TO
| build for them first-class line cap
able of handling both passenger and
! freight traffic, the passenger service
to be not less rapid than your steam
| lines, the fare to be from one-fourth
to one-half less freight rates in pro-
portion.
| "You will notice that | have dis
tinctly specified that no charges are to
be made until work is done This holds
good in reference to everything except
the matter of printing and engraving
and prospectus and incidentals, but in
that matter the company will itself
have the handling of those funds. l
make no charges for my necessary
work and expenses in placing bonds
and dealing with the contractors, in
purchasing supplies. building ma
terial, ETC. There will be of necessity
three power houses on the line and
possiblyssfour. 49,. -
"In""case the line should be built we
should require the following from the
towns along the line:
"Mankato-CiSy franchise, both for
right Of way to our terminals in the
city and for the construction Of local
street car line. Mankato should also
furnish the right Of way to Oshawa in
fee simple. sixty feet; also site for
power house, switches, Car sheds,
etc., twenty acres, either in the sub
urbs or Immediately outside of the
city, but contiguous to the proposed
"New Sweden-Right- way sixty
feet fee simple, Oshawa to Gaylord,
two acres for station at Oshswa- and
two acres for station at News.Sweden.
. "Gaylord-Right-of way....to.--ssNew
Auburn, two acres for station, etc.
/ New. Auburn-Right-of- way.-- tt
Hutchinson, two acres for station. =
MISUNDERSTANDING to Kim
| boIl pra;r;o four acres for station anC