The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1902-05-09
Mr.. COLLINS HERE
Arrives With Three Eastern
Gentlemen.
Two Represent Capital, and One is an
Engineer.--Trip to St. Peter
Monday.

James 81. Collins, of Chicago, ar
ried in the city at noon Monday, accom-
panied by Samuel A. Williams, OF
New Haven, Conn, and E. }. Wehley
and F. B. Perkins, of Toledo, Ohio.
Mr.. Perkins is an engineer and the
other two gentlemen are the personal
representatives of the trust company or
other party who is to underwrite the
bonds. Who this company or party is,
has not yet been given out, and prob
ably will not be for some days yet, or
until the sale of the bonds has been
consummated.
The gentlemen took drive about
the city before taking dinn;r at the
Saulpaugh, They drove to Sibley
park, along the foot of the bluff, and
through other parts of the city. The
strangers expressed themselves to the
effect that the city is we'll laid out for
an electric street railway line, stretch
ing out long Ind narrow as it does.
The party, accompanied by S. Will
hartz, started Immediately after
dinner for st. Peter, taking the prairie
road. 1t was the intention of the three
strangers to leave for the east at night,
put it is now thought that they can
be prevailed upon to wait until to-
morrow.
The object of the visit of the en-
gineer and representatives OF the CAPT
tai is to verify the statements that
have been made in the negotiations
for the sale of the bonds. as to popu-
lation, probable business, franchise,
contracts, cast of grading, etc.
The directors of the company who
are most closely connected with the
effort to dispose of the bonds and
build the plant feel quite confident
that the deal will go through. The
contract for the sale of the bonds has
been closed with the trust company
or other party, subject to the veritica'
ton to be made by the three men who
arrived in the city today with Mr..
Collins. Whether the project is &C
or not will depend entirely upon theil
report when they return to the east.
If they should be satisfied that every.
thing is as has been represented, anC
that the project is not only feasible
but likely to be paying investment,
they will undoubtedly present fav
orable report, in hich case the sale
of the bonds will be Immediately
| closed.
Messrs. Williams, Wenley and Per
kins are young men with a business
air, who look and act as though they
were familiar with the kind of bust
ness in hand.
The trust company or party who I'M
derwrites the bonds at So cents on the
dollar will not hold them, in all prob
liability, but will sell them to clients
who are looking for safe investment
in long time bonds.
Phillip Dick, G. Amundson ant
Joseph Engesser returned Saturday
from Iowa where they had investigat
ed the matter Of electric railway
and on Monday they submitted the re
port to the council committee giving
the result of their trip. The repor
consists of series of interviews will
business men in Cedar Falls an(
Waterloo which are connected by al
electric line and also of business mel
in Clear Lake and Mason City, which
likewise have an interurban line. Tn
universal expression of the bushes
men in all of the cities was to tn
effect that trade gravitates to tn
larger city, with no reason for it ex
cept that it does. At Waterloo tn
business men said it was a good thins
for Waterloo while at Cedar Falls thu
business men said it was bad thins
for Cedar Falls. In the latter plac
the stores were as complete and price
as low as Waterloo, but the trade jus
naturally drifted to the larger place
In all of the cities they had had much
trouble because of defective franchise
which had been hurriedly drawn ant
as hastily adopted. The committee
was advised that if franchise wa
granted here it should be after matur
deliberation and the most careful con
sideration. The committee made n,
recommendations but presented tn
evidence just as it came to them. st
Peter Herald.