Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-02-24
Directors of Marshalltown Com
pany Decide to Accept the
White & Co. Proposition
PUBLIC MUST TAKE AN EQUITY
Electric Line From Marshalltown to
Charles City is Possible Providing
Local People interested Subscribe for
Portion of the Stock = General
Manager Ferrin Talks.


the public takes an equity in the prop
erty and Will help build it by subscrip-
ing portion of the stock Such is the
main fact that was brought out at the
meeting of the directors of the COM
pany, held Tuesday night to consider
the propositions of ]. G. White 4 Co.,
of New York. financing contractors and
builders one of the propositions of
the company was accepted, and the
contract with the eastern firm was
signed.
The company decided to build the
| north line, extending from MARSHALL
town to Cirundy Center, II distance OF
about thirty miles. and touching some
OF the best farming and stock terri
tory in Iowa. Definite underwriting OF
| the securities has not yet been MADE.
but an understanding has been had
with prominent bankers in New York.
thru introducticns by Mr.. White, to the
effect that. at the proper time. these
securities viii be cared for. 1t Is
planned TO build the power plant large
enough for extensions to Charles City
and to Ferguson later.
Public Deeply Interested.
That the public has a deep interest
in the project. as it now stands. there
is no doubt. In fact. II this interest is
not manifested. the road can not be
built. The population along the pro-
posed line. from which is derived the
a. sxx,, Adj. e..
warrant the investment of the entire
cost of the road by outside capital.
Therefore the public. which gains u d.
rect benefit by having the line in oper-
alton must take an equity in the shape
of stock.
Road Will Cost Money.
While the interurban directors will
rot state the estimated cost of the pro-
losed road. owing to the fact that the
figures can not be obtained accurately
until after the survey is made. It is
safe to say that a line from Marshall
town to Grundy Center will cost over
hail a million OF dollars. one hundred
thousand or more of this amount will
have to be raised in local capital and
that amount must be subscribed before
the road will be built. altho none will
he payable until the road is IN actual
operation. II the population were
greater. and larger earnings were in
sight 1t would not be necessary to ask
the public to take stock, but MS long as
The population is lacking. and freight
business. an experiment In electric cir
cles. must be depended upon largely, n
to-. 11&,.a ,ct.a
viii Close Right Way.
The right-of-way matters. which
have been at a standstill since Mr..
Ferrin went east to look after the A.
nancing of the property, will be taken
UP again at once. and prosecuted vigor-
ously Options and deeds will be Sc
cured as rapidly as possible, or as rap
idly as the people can be seen. Pri-
vate right-of-way. extending along the
entire length of the road. will be re-
CURED and as far as possible property |
lines Will be followed. Sc that no prop
erty owners farm will be damaged |
This preferred righ,-of-way. which will |
be an asset in itself and a benefit to |
The man who gives IL. must be donated |
Tree of charge to the company.
viii Begin Survey Soon.
The work OF the survey will be be-
gun by engineers of j. G. White & Co.
who will arrive from New York within
zen days or a fortnight. The actual |
,ost of construction will be known az |
soon as the survey Is completed. and
hen the directors of the road will
snow Just how much the public equity
will have to be. White & Co. will not
,wn any part of the road. at any time.
always occupying the position of con-
and looking to the company
or their funds until the road is so far
advanced that bonds may be sold.
IRON now on 1t will be up to the bust
less men of Marshaitown and the diff
erent towns that the road will touch.
md to the farmers along whose prop
rites the line viii run. AL must work
ogetller toward the common end of
the road, which will improve
ach property touched. and benefit
very business man in every town so
ortunate as to be included in the
urvey.
How the Line Will Run.
The Marshalltown line. as Heretofore
on paper. will start at this
ity, running about due north to Con-
ad. touching west of Green Mountain.
from Conrad the road will go east to
Seaman, and thence north to Grundy
ENTER. From Grundy Center it will
un due north to Parkersburg.
from Parkersburg a shoot to the
lorth will be taken. touching Allison.
hence north to Greene both in
Butler County. From Greene the
Dad Will run northeast to Charles City,
he county seat of Floyd county. The
ines of railroads with which connec-
ions will be made in building of the
road will be the Illinois
CENTRAL and Chicago, Milwaukee e. st.
PAUL, at Charles City; the Great
Western at Allison: the Chicago
I Northwestern and Illinois Central at
'arkersburg: the Rock Island at
greene; 1.-THE Rock Island at Grundy Cen
er and the Northwestern at Beaman
nd Conrad. In making the survey 1t
nay be found advisable to deviate
omewhat from the prescribed lines as
eretofore outlined. but 1t is not
bought probable that the changes Will
e material.
Mr.. Ferrin's Statement.
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