The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1903-07-31
New Deal Which They Believe Is a
Very Good Thing.
They Want the City to Take up
With The Latest.
Projectors Now Ask for Seven
Per Cent of the Profits.
From Saturdays Daily.

The special committee on lighting of
the Manllato Business Mems association
met this morning and changed the plan
of dealing with the city in the matter of
a new lighting plant from the plan ap-
proved by the meeting Wednesday night
The new plan is intended to relieve the
city of the necessity of buying poles OF
wire.
1t is now intended to raise $4,000
among the merchants and put in a plant
to cost that amount, including poles and
wire for the central portion of the city
A stock company will be formed for the
purpose, the shares being placed at $25
each. The city council will be asked to
enter into an agreement or contract with
this new company to let it light the
streets at a ceratin figure a light. 1t is
proposed that the contract shall cover
a term of years. The old plan was that
the city should buy the power at so
much a watt, but it is now proposed that
it shall buy the lights in the same man
ner as it did from the Mankato Gas and
Electric Light company. (
1t is further proposed to reduce the
interest which the city shall guarantee
to holders of the share to seven per cent.
The profits of operating the plant, if
there are any, shall be devoted to the
paying off of the bonds. When the
bonds have been all Paid off, the company
is to turn the plant over to the city free
of cost. One member of the committee
said this afternoon that he thought that
the plant would pay for itself in five
years, and that it then would be turned
over to the city.
1t is intended to extend the wires and
poles to the outskirts later on, at a
cost of $4,000. The plant proposed viii
have capacity of $50 arc lights or their
equivalent in incandescents.
The committee was out this forenoon
with subscription paper, but it did not
succeed in landing any big subscriptions,
as it was busy day for the merchants,
being Saturday, and there was no time
to enter into long explanations. A num-
Ter of $25 subscriptions were secured.
f. Rosenberger has subscribed for 3d.
GOO of the stock The actual subscrip-
lions thus far secured do not exceed So,
600, although the committee thinks that
ii knows where it can secure two or three
$4,000 subscriptions when it has time
to explain the details of the plan at
length.
Jay Henry Long, when asked about
the matter, said that the change in the
plans was made at meeting of the
committee held this forenoon. The
meeting called for early yesterday after
noon failed for lack of attendance.
There is reason to believe that the
change was made in response to public
sentiment, which did not take kindly to
the plan agreed upon Wednesday night.
While some of the merchants have seem
ed to think the plan all right, there has
developed a good deal of feeling against
it ON the part of citizens who have stop
ped to think where the scheme might
lead, if carried out as at first proposed.
1t is too early yet to say with any GER
tainty what the public will think of the
new plan, but like the first one it has a
plausible look.