The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1901-08-23

their STOCK 1Or nOIuluS. Lie ISSUE VI
bonds ought to take up the temporary
issue of $50, 900 and build the line to
the lakes, The bond holders could be
given the right to vote the unsub-
scribed 800, 900 of stock for five years,
after which it could be given to the
original subscribers. An engineer has
estimated that $50, 600 would equip five
miles of road, including the power
| house.
Mayor Petersen said that previous
estimates were that the line would cost
$50, 900 mile.
| Car Lines Profitable.
MI. Hixon said that D. ". Lawier,
former general counsel for the Great
Western road, had expressed surprise
| that no electric line had been con-
structed in Mankato, as someone from
here had written the chief engineer
of his road for figures on line. The
chief engineer had estimated the cost
at $50, 600 for five miles, power house
and all. This was before the price of
rails and electrical appliances had
gone up. Mr.. Hixon said that his
brother had built line in Wisconsin
town that had paid from the day that
| IL Was SIdEIcu LIS pCOPlO hoo buiil
the original line at La Crosse, Wis,
and later they sold it to another line
at many times its original cost, be-
cause it was so profitable. The earn
| ings of the line from Mason City to
Clear Lake, according to Poore's Man
| ual, which is recognized authority,
are seventeen per cent on the capital
stock. The situation here is exactly
llal with xr,hof ~ &c OF MoSNy, (ifxr
Mankato is great excursion town,
would be far hey ond what anybody
would dream of. In summer the out
side or lake line would pay the most,
the most Mr. Hixon said, in conclu-
sion, that he did not think that a road
could be built in Mankato in any other
way than he had outlined.
Mr.. Staede believed that people with
would devote enough to the purpose to
Offers of Money.
Mr. Willard said that he was firmly
convinced that it was no use to talk
street railway unless the people of
IuohhoUo WOlO 1CooJ w PuU OhO
money and property to back up their
up 81, 900 each, plenty of others would
follow with less amounts He was
ready to put 81, 900 in, because he be-
lieved that the road would be a sue
cess, and he would be very glad to take
additional stock by turning in pro-
perty at reasonable value. If $50, 900
could be raised at home, he was salts
fed that plenty of money could be Sc
cured from outside. Mr.. Willard said
that he had stated what he would do,
and would like to know what others
would do.
Mr.. Funk said that it had looked to
an outsider as though the old company
had secured a franchise for specula-
tive purposes. He thought that the
only way would be to start as the Citi-
zens' Telephone Co. did. That stock
is now worth 1876 per cent of it's face
value.
Mr.. Staede said that 1856 had been
paid for the last sold.
Mr.. Funk said that the telephone
company was a success because the
people stood back of it and made it a
success. He was convinced that rural
line would be more successful than if
in the city alone. He would be glad
to do something for the line, and
would take stock perhaps to the
amount of 81, 900.
Mr.. Hixon said that an electrical
engineer had remarked that he would
not undertake to build the line unless
it went to Lakes Madison and Wash
ington and to some other town. He
suggested that the old company's sur
veys be taken and that it be given a
little stock for it. This would save
time and some money.
Mr.. Andrews said that Engineer
Burch of Minneapolis, competent
authority on street railways states
that short line would not pay, but
that line that goes far out into the
country would get the business. In
general way, line with power would
cost 800, 900 to. $3.50, 600, according to
Mr.. Burch. but it would be new line
and nothing cast off from some other
city that was putting in better line.
Mr.. Burch offers to come and make
surveys and plans for $40 day and ex-
penses, and estimates that it will take
ten days. He will plan how best to
locate the line to pay dividends.
Mr.. Andrews said that the board
of trade committee had Investigated
the lines at Mason City, Waterloo, st.
Cloud and other places. The condi-
tions at Waterloo are very similar as
here. The first year after the line was
built, more than 200 houses were built
along..the line. The committee would
suggest that Burch be secured to make
the survey, and that one or two men
be sent to Waterloo and perhaps to
Mason City to investigate the lines
there This might involve an outlay
of 5000 in all, and if twenty men were
to subscribe $40 each, it might be
made to apply on stock subscriptions
hereafter.
Mr.. Staede did not think it necessary
to send men to other cities, as enough
was known already to satisfy the peo-
pie that those lines are paying and
beneficial.
Mr.. Andrews said that the commit
tee had received one discouraging re-
port, and that was from Winona. The
car company officials wrote that they
did not think that car line could be
made to pay.
Mr.. Staede said that Winona is so
dead that during the recent carnival