The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1903-10-23
SAY THE ROAD is A co
Eastern Men Who Looked Over Route
Talk Very Sanguine.
Party Visits Hutchinson and Talks
Freely Of Prospects.
From Wednesdays Daily.

IIOm wednesday Oduy.
Hutchinson, Mimi, Oct. 2l-The Min
nesota Central railway, running from
Mankato to st. Cloud via Dassel or
Litchfefd, viii be built and in operation
the coming year unless the following
named capitalists and promoters of the
project, who were in Hutchinson Monday
are over-sa nguine: William S. Lambert,
and Thomas X. Dalzell, Reading, Pa. !;
Colonel j. L. Small, Lewiston, Me-; John
R Bucks, Wernersville, Pa, and c. H.
Mckenzie, Gaylord, MINI.
Mr.. Lambert, who acted as spokes-
man for the party at a citizens meet
ing, said there was no richer unoccu-
pied field for a railway in the United
States. They had driven over portion
of the route and had ample assurances
that the rest was as good. Here we
find" said he, many thousands of
square miles of the richest farming
country in the world penetrated only
by few east and west lines. The trend
of railway business is north and south.
Since the gulf line was built not a car
load of grain grown west of the Missouri
river has been shipped eastward. We
expect our line to work in a large meas
ure the same change in the transporta-
tion business in central Minnesota and
the road will pay well from the start.
'The plan that will probably be adopt
ed is this: We propose to bond our
ITO miles of roal for $4,000 per mile
and we have about completed arrange
ments with New York trust company
to market our bonds, thus supplying us
with ample funds to build and equip the
line. But if this plan fails we have
enough capital among ourselves and our
friends to go ahead.
The unsettled condition of Wall
street and the recent bursting of numer-
Gus over-capitalized industrial air bub-
bles only helps our project when we go
upon the market in quest of money.
Eastern capitalists are only too glad to
give attention when sound, safe, bust
ness-like project like this is presented
to them.''
Mr.. Lambert further said that in case
the first named method of financing the
line was adopted no bonuses or dona-
lions of any kind would be accepted
from municipalities along the route fur
Their than the bonds already voted by a
few villages and townships along the
first twenty five miles of the line. But
in case the road is built with the capital
of its projectors right -ofway, depot
grounds or bonds may be asked. AS a
parting word he said Gentlemen, this
road will be built; that fact is settled
and there is nothing surer in human af
fairs"
At the request of the visitors com
mittee of three representative citizens
was appointed to attend a business
meeting in Minneapolis, Oct. 81, when
the president of the company, David RI.
Butcher of Grand Forks, Mimi, and the
vice president, George R. Van Reed,
Reading, Pa, and the secretary, II. B.
Cady, Reading, Pa, will be present and
definitely announce various important
phases of the project. The committee is
William E. Harrington, E. j. Stearns
and L. A. Ritter.
1t is the general surmise that the
Rock Island is behind the project and
that the much talked of line from Man
kato to Albert Lea is only an extension
of it.
The new road to run from Mankato
to Duluth by way of CORTLAND, New
Sweden, Gaylord, New Auburn, Hutch
inson and st. Cloud is to be called the
Minnesota Central 1t has been capital
lied at 100000 in New Jersey. The
proposition is to bond the road for ST.
100000.