Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-12-29

This is especially true Of the big pack
cts that make the trip from the head
of navigation to st. Louis. No one.
as he has watched one Of these boats
glide gently up to the bank. but has
been thrilled by the sight. And who
shall wonder at the fascination? Her
throbbing pulsating engines represent
power. She is crowded with human
beings representing every condition IN
life. On her lower deck is piled the
products of field and factory. She Is
representative of the life along the
river as no other one thing is.
But there is something else-there IS
the commercial side Of the story. This
phase Of steamboating is practical,
there is no poetry about 1T. The same
laws that apply to other commercial
enterprises apply equally to the steam
boat business. A few days since, in the
district court of Scott county, this side
Of the question was brought out sharp
Nv when the books Of Diamond Jo'
Reynolds, Mary Reynolds, hisS widow,
the E. M. Dickey Grain Company and
Jay Morton, were placed in evidence IN
the Leonidas case. They tell anything
but a. bright story. Nothing but cold,
hard facts were there, and those facts
are such that those who heard them
for the first time were surprised. BY
the books of the p. M. Dickey Grain
Company it was proved that the Dia-
mond 10 line Of steamboats, has been
losing money for the last twenty years
not in driblets, but in good substan-
tial chunks, each year. During that
time up to 1895, the e. M. Dickey
Grain Company has practically kept
the steamboat company running by
advancing money, whenever needed,
to tide them thru the winter sea-
son.
1t seems to have been the practice Of
money from the grain company every
winter to the amount necessary for its
expenses, and to repay In part the
money thus borrowed during the sum-
mer months. These amounts were
large in some instances reaching $685.
900. In 1895 the balances that had ac-
cumulated from year to year amounted
to $108,000. This claim was turned over
to the estate Of Diamond 10 Reynolds,
of which Jay Morton, the brother OF
Mary Reynolds, was the administrator
and afterwards the owner as his sis
ter's heir. The estate left by Reynolds
was large, he having had gold and coal
mining interests and railroad proper
ties that netted princely income.
Morton continued to advance money
to the steamboat company in increas-
ing amounts, until, in 1898, the indebt-
edness amounted to $212,O0O. The
company then executed three judg-
ment notes in favor Of Jay Morton for
that sum. Morton held these notes
until 1902, when with accumulated in
terest, and money advanced subsequent
to the making of the notes, the total
of the company amounted
to the immense sum Of $4,000. 1t
was then that Morton applied for a re-
ceiver, and the Diamond 10 line was
sold under the receivership and was
bought in by Morton for 100000.
So passed the Diamond 10 line It
has been reorsanized, and the steam
boats that have been the pride OF every
true riverrnan win continue to make
their trips as of yore. The loyal tight
of a faithful wife to maintain the
business established by her husband,
when he, gay and debonafr, scattered
his money up and down the river, has
come to naught. The gallant effort OF
her brother to stave off the inevitable,
have proved of no avail. Slowly, but
none the less surely. the thru traf-
fic has deserted the river. Slowly, year
by year, the smaller boats have abb