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

the city could come pretty close to
raising that figure.
Mr.. Patterson asked whether the pro-
eeeds of the bonds would pay for the
road, and Mr.. Yarnall replied that they
would Geo. III. Van Reed, the vice presi-
dent and chief engineer, was for many
years the chief engineer of the Pensyl-
vania railway system, and he has sub
mitted all figures to the engineering
department of that road, and to others,
and they don't think that there is the
slightest doubt but that it can be done.
The country is comparatively level.
Mr.. Clark said that the former esti
mate on the cost of the road was ST.
800 mile, including $4,000 for equip
ment.
Mr.. Yarnall said that he courted the
fullest investigation of the people back
of the project.
W. ID. Willard said that for twenty
five or thirty years Mankato has been
talking of a north and south road, and
had spent much energy and money for
it. He thought that it would not ,,nly
be desirable and paying investr tent
for the bondholders but also for the
stockholders as well. The Willmar &
Sioux Falls line issued $7,775,000 binds
bearing five per cent to build the line,
1877 miles long, and is paying well. If
this line would go further south and tap
Iowa, it would be trunk line and would
pay better. The only thing that we want
to do is to satisfy ourselves of the good
faith and ability of the gentlemer to
carry out their agreement. They lave
made us very handsome proposition.
No offer has yet come that anywhere
compares with it. They are not going
to leave the end of the road at Gaylord,
but will surely carry it through. Other
enterprises than this have courted the
interest of the public in order that they
may know that the public wants them,
and will take hold and help make them a
60.
w. E. Young moved that a committee
be appointed to investigate the financial
standing of the gentlemen and make a
general investigation and present re-
port. This was carried, and the chair
named w. E. Young, w. L. Hixoh and
J. B. Richards as the committee.
Mr.. Mckenzie thought that the road
would make as large earnings as any
road in the state.
Replying to question, Mr.. Yarnall
said that New Ulm has offered to put up
IS much money as Mankato if it can
cut Mankato out. 1t claims to market |!
, great deal more freight than Mankato.
Mr.. Mckenzie said that Mr.. Silverson,
The New Ulm miller, claimed that he |
paid $4,000 in freight a year, and did !
not think that this could be equaled in !
Mankato. His mill has daily capa
.lty OF 0,0UO barrels.
Mr. Clark was of the opinion that |
would be lost unless the |
owest denominations of the bonds was |
'educed to 500. He thought that the !
for less than $500 would |
equal those above that sum.
Mr.. Yarnall said that the bonds have !
,een printed and signed.
Mr.. Hixon thought that the change ,
by Mr.. Clark should be made.
Mr.. Yarnall said that he would take |
he matter up with the company on his
eturn, while the committee is at work.
Aid. Jorgensen hoped for the success
# the enterprise.
Mr.. Taylor moved that the committee
re requested to report expeditiously, and
hat another joint meeting be called to
ear the report. This was carried and
he meeting adjourned.
7 A l. f,r- NV