The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1902-03-14

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way of Kasota, was well attended, and
much enthusiasmsw was displayed: Pres.
idents< Andrews called the meeting to
order. and called upon Mr.. WI: Hix.
On to present the matter to the meet
ing. r Mr.. .Hixon. beganssby saying that
he had known. Mr.. Collins for mum.
Der of years and knew him to be man
able:to- carry out anyssproposition ne
might make as he has good financial
backing. - He said that when MT;
Collins first came to the CITY he was
inclined to ask much more than he
EinaIly did in his proposition, but was
told by Mr.. Hixon that the city had
had many propositions which amount
ed to little, and were inclined to look
at such offers little suspiciously, and
as a result Mr.. Collins finally made his
proposition along more liberal lines.
Mr.. Hixon believed the proposition as
made was most liberal one much more
liberal than could be expected, and
more liberal than would probably ever
be offered again, and if the city wants
an electric line now is its opportunity.
IF not, that ends it. Mr.. Hixon
then repeated the proposition in sub
stance as it has been published. He
said Mr.. Collins had stated he believed
the venture would pay and that the
stock would be dividend paying. He
knew personally of FIVE properties
which Mr.. Collins had financed, which
were earning money upon the capital
stock. Among these is the system at
Waterloo, Iowa. Conditions there are
much the same as here. The line
connects Waterloo with Cedar Rapids.
Also referred to system at Mason
City, connecting with Clear Lake.
That was similar to our conditions.
According to Poores financial reports
of railways the Mason City system has
earned as high as II per cent upon its
stock. If S45, 900 in stock can be sub
scribed here, it would result in the
bonds selling at par, for if Mr.. Collins
has an equity of $40, 900 he can do
better in selling the bonds than would
be the case without, for men with
money to SO invest would recognize
there was something here and that our
citizens have faith in the city's future.
Mr.. Hixon also said that he visited
st. Peter with Mr.. Collins and found
conditions there very favorable toward
an electric road. They are paying
more on freight rates than MankaUo,
and business men said if an electric
line would connect with the st. Paul
system, that rs per cent of the freight
business in and out, of that city would
pass over it. This and other features
which they found had much to do in
,persuading Mr.. Collins to decide on
the st. Peter line. Mr.. Hixon also re-
ferred to the stone quarries and the
business which would result from them
along the line.
Said if the people of Mankato have
confidence in future of their city now
is their time to act. If passed by the
city will not have another such an
opportunity. If a municipal lighting
plant is put in that ends all hope Of
an electric line for years to come. The
city has great resources and ought tc
be to southern Minnesota what Duluth
is to the northern part of the state,
With an electric system we can grow
rapidly, without we cannot. Scattered
as we are we cannot get operatives fol
manufacturing plants. Said he had tx
discourage capitalist who wished t.
come here and put in plant tina
would employ So operatives, mostl,
female, at the start, because they could
not be had. The distance is too great
A road would allow them to gathe
from considerable distance and conse
,quently would help draw industrie
here.
Said that even if livestock asked TO
here, did not pay AGENT of dividen'
to subscribers it would be most pro
ftable venture for the city, as the
were sure of better returns from othe
directions. z He disclaimed that it wa
a scheme to head off municipal light
ing by the old company, as had bee
intimated by some. J, The old compan
had nothing.to do.with 1T nor kney
nothing about it, and they would hav
nothing to do with the old plant. Di
not want it.
M. G. Willard moved that sit is th
sense of this meeting that the PROPOSE
ton of Mr.. Collins be accepted. %" -
Speaking upon it Mr.. Willard sal
he thought the offer good one mao
in good faith. 1t gave Mankato peopl
majority of the directorate as Nj
Collins only asked for two out. of
possible eight or nine. Mr.. Collir
could not..afford to fool the men /
represents To do SO would kill hin
self in business way. If we hay
manufacturing institutions We mu
have a railway system which wi
bring people in from the outskirt
otherwise we cannot expect to grow
that direction. - = =
Aid. Taylor thought the propositio
a good one ana with the city an
commercial lighting, together wit