The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-03-20
PROPOSITIONS
FOR NEW ROAD
Were Submitted to Chamber
of Commerce Yesterday by
G.. G.. CHAPMAN OF BOSTON
Who Is Promoting Road and
Construction Company.

Mr. C. C. Chapman. of Springfield,
Mass, is in the city. and yesterday after
noon met the board of directors of the
Chamber of Commerce and submitted his
plans for building railroad from Omaha,
Neb.. to Port Arthur Texas The Eagle
has given several short articles regard
ing this road, and Alr. Chapman came
here on the invitation of the Chamber of
Commerce TO give the details of the prop
osition.
Mr.. Chapman claims to have plenty of
capital back of him. He has lately re-
turned from Boston and other financial
centers, and claims to nave assurances OF
sufficient capital to build the line. The
proposition is TO build line some twelve
hundred miles long, beginning at Omaha.
touching Wichita as its principle Kansas
point, McAlester l. T., and extending TO
Port Arthur on the Gulf Of Mexico. Pre-
liminary surveys have already been made
of a part of this route. and estimates
have been prepared and a part of the
distance has been surveyed and profiles
made for it,
The railroad company will be organized
in a few days, ard the Omaha and Gulf
Construction company will be organized to
build the line. The application for
charter for this construction company
was prepared and read before the direc-
tors yesterday.
1t is estimated that the cost to build the
line will be in the neighborhood Of $4,000
per mile. The construction company is 10
be organized under the laws of the state
of Delaware and the capital stock is TO
be $4,000, with the provision for an in
crease whenever necessary.
The plan submitted TO the railroad pro-
4 hsaN-
the construction company build the line
and for this the common stock of the
railroad company is TO be issued to the
construction company, $4,000 Of common
stock to every mile of line. Above TINS
the company is to give $1,000 in first
| mortgage bonds to the construction COM
pany. Neither the bonds or common
stock will sell at par on the market. The
company also expects to receive public
aid amounting to about 5000 per mile,
besides all concessions and subsidies
Wichita is to have the principle shops
and a division point. The construction
company is to be organized of Wichita
and Omaha business men, and several Of
the officers are 10 be selected from
Wichita stockholders. The business men
of this city are to subscribe $4,000 TO the
capital stock of the construction company
This is business proposition. and one
that is worth looking into by investors.
Construction companies are considered
frst-class investments when controlled
by conservative business men. Mr.. Chap
man talked with several members cf the
Commercial club before III meeting OF
the Chamber of Commerce and it was
decided to have a committee appointed
from each of these bodies TO lay the mat
ter before the citizens of this city. The
regular railroad committee of the Cham
Der of Commerce was instructed to act in
this work.
Mr.. Chapman will be in the city several
days. He has his estimates, plans and
other details, and these are open to in
spection by any one interested in the
proposition, and Mr.. Chapman would be
pleased to explain the full details of the
company at his rooms in the Manhattan
hotel He will remain here indefinitely
and until some definite action is taken by
the business men of this city. From ex-
pressions of number of business men
yesterday, every indication points to the
organization of this company and the
building of the line.