The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1904-03-18

| to take them.
Mayor Taylor said that it seemed as
though the road would be great bene-
| fit to Mankato, as large amount of
coal and other produce comes from Du-
luth. He asked whether the route would
be any shorter. Mr.. Mckenzie replied
that it would be four or five miles short
er than the present shortest route
DIR. l. ID. Webster said that it was not
matter of miles, but of getting bet
ter rates by avoiding going through the
cities. Mankato might get a terminal
rate.
H. A.. Patterson thought that this
would be so. The jobbers of the twin
cities work freight concessions to the
smaller cities. He cited an instance
where the lake and rail rate from New
York to St. Paul, 1000 miles, was Al
cents, and the rate from St. Paul to
Mankato, So miles, was IL cents. He
thought that the project of constructing
the road was one that ought to appeal
to all if the statements made by Mr.
Yarnall were verified. The city has reach
ed turning point. A new road here will
not establish new towns to detract from
local trade. With the road, jobbing in
| terests would get better rates. He
| thought that the matter should be inves-
| tigated, and if it has merit it seems as
though cooperation should be extended.
NJ G. Willard said that he concurred
the benefit which the road would be to
Mankato. If only thirty miles were
built, it would pay interest on the bonds
and would be good feeder for Mankato.
The bonds could be used as collateral at
the banks.
Replying to a question, Mayor Taylor
said that more than one-half of the coal
used in Mankato comes from Duluth,
and the rate is dollar over the st.
Paul rate.
Mr. Hixon remarked that there was no
question but that the building of the
road would solve the st. Paul rate ques-
ton
John n Hall said that he had seen
four railroads built into Mankato, and
she city had helped them all with boz
uses. The present proposition is entire
~ different from the rest, as no bonus
is asked. For twenty five years
it has been the wish of the
people to get into the northwest.
The country has been settled for
fifty years and ought to be able to sup
port a railroad. It is a good as well as
a large territory. He thought that the
city would be made a terminal point if
the road was built, and get terminal
rates. He thought that the business
men ought to take some of the bonds,
and should not let the enterprise go
by.
A. E. Clark asked whether it was con-
templated building to Albert Lea. Mr..
Yarnall said that his people had been
considering this and it was more than
likely that they would, but at present
they are planning more on going to Du-
luth. The capitalists have in view a
much larger system than this.
Mr.. Hunt did not think that it would
be an easy task to raise $4,000 in Man
kato, just after several local institu-
tions had been taken care of and $780,
600 had been raised for a new Y. M. G.
A. building. Much difficulty had been
encountered in trying to raise $4,000
for street railway line. He thought
that it would be almost an impossible
ty for the citizens to raise $4,000 He
hoped that he was wrong, as he was
heartily in favor of the railway pro-
ject and appreciated it's advantages. He
wanted the gentlemen representing the
railway company to appreciate that to
float so many bonds would not be an
easy thing to do in Mankato, and he
did not think that they should go away
with the assurance that it would be
done.
w. E. Young asked where it was pro-
posed to open the offices of the company
Mr.. Yarnal said that he did not know /
yet, but it would probably be in Man
kato if substantial interest was shown !
here. |.
Mr.. Young said that the first thing to
do would be to convince the people that !
this is an investment. If it was to be
a bonus, Mr.. Hunt was right.
Mr. Yarnall replied to question by
saying that the bonds had been issued
in denominations of $1,000 and $500.
w. D. Willard did not think that there
would be any difficulty in working off
the. bonds, if they were left at the
banks. Large investments have been
made by our people in bonds and it is
hard to say who have taken them.
Many farmers do it.
Mr.. Clark said that it would be very
difficult to raise $4,000 in this city,
but he did not think that past expert
ence should be criterion as to what
might be done in the future. The street
railway subscription was for stock and
lot for bonds, the entire issue of the
latter going to the men who were fnanc-
ing the road. Everyone felt that in MAX
ing subscription he was making do
nation, as no one thought that the stock
would pay. With these bonds it is diff
ferent. They are secured by all of the