The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1902-05-23
AMOUNT RAISED,
Citizens Put up $4,000 for
@3la Railway. y.
II Was a Close Shave, but Mankato
has Carried Out Mr.. Collins
Requirements,

At 8 80 p. m. the amount that had
been placed in the banks on the street
car subscription account was about
$2S, 000 A hustle was being made to
get in the balance. Mr. Collins must
be notified before the day is over that
$50, 600 is in the banks, or else the
whole proposition will fall through.
A number of people who had sub
scribed, and who were confidently de-
pended upon to pay in their subscrip-
tions have refused to do SC on one
excuse or another. On the other hand,
two subscribers have raised their ORR
ginal figures and paid in the sum to
the banks. These are M. Burg, who
has raised his subscription from $500
to $500, and J. B. Nielsen, who has
raised his subscription from 500 to
$500.
J. b. Ray and John G. Noe sub
scribed ten lots. valued at $500 each.
They donated these, and now have
bought back two of the lots at $500
each, and have sold Mr.. McGraw one
of them at 5000. This gives the COM
pany 5000 and seven lots are left.
A meeting of the directors of the
company was called for four o'clock
Wednesday at the First National
bank, to dicuss the situation. The out
come is in doubt and it will not be
known denfitely for q day or two
whether Mankato is to have street
railway line. Mr.. Collins will be
notified this evening of the amount
raised, whatever it is. If it is less
than $50, 600 it is not expected that he
will accept it, as his original PROPOSE
ton was that $40, 900 was to be raised
and placed in the bank. After strik-
ing off one third of this amount, it is
not expected that he could do any bet
ter. .. ..-a r, ..s sa....as.
A. E. Clark on Saturday wrote q
letter to Mr.. Collins, explaining the
whole situation in view of the inJunc-
ton suit commenced by Mr.. Meagher.
He asked that whatever decision was
arrived at be made known as soon as
possible, so that the matter need not
hang fire and the public agitation con-
tinue. No reply has yet been received
to this letter, nor is one expected I'M
less Mr.. Collins is notified this eve
ming that the necessary $50, 600 has
been raised.
Mr.. Meagher is still in the city.
There is belief enter tanned by some
that the object of his suit is to force
the purchase of the lighting plant of
the Mankato: Gas and Electric Light
Co. by the new company This belief
is not generally entertained, however.
A monied man of this city stated
today that if the street railway enter
prise should fall through, he would in
vest $40, 900 in the stock of another
lighting company if one was organized
in this city. Other parties have said
that they would take large blocks, and
it is believed that company could be
organized and have its plant ready to
take over the street lighting
contract next October. H..
At A 100 q. m. the amount still to be
raised had been reduced to about 81,
900, and hopes were entertained that
the balance could be secured, either
by note signed by number of citi
zens or in some other way. gr .Hs
Late this afternoon Nyquist & Iver-
son raised their subscription from 5000
to $500 and paid the amount in.
The Merchants Protective associa-
tion committee on semi centennial did
not meet last night. The general com
mittee meets tonight. 'ls
Just before going to press, the Free
Press learned that the deficiency il
the paid up subscriptions will be made
good by joint note signed by six OF
eight enterprising citizens, who dc
not want to see the street railway fall
through. This brings the total Il
$50, 600, and Mr.. Collins will be 81
informed.
". L. Hixon late this Afternoon
received the following Telegram from
j. e. Collins. sent from Chicago:
williams here, ready for business
Wire. @
1t is thought that the word "Wire'
refers to the $50, 600.
1t appears that Mr.. Williams ha
not been frightened out Of the field b!
the Meagher suit.
Mapkato's chances for street rail
way are very rosy.