The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1904-08-05

mighty God that took Lookout Mountain
and Mission Ridge!" And they who had
fought so desperately to gain the crest
were the first to take up the echo, 1t
was Almighty God.' So, tonight, say
it is not 1 that have done this, nor my
associates, that have opened wide this
great door of opportunity for Mankato
| to enter in. Not we. 1t is God that has
done it. And, say it with all reverence
it is His scheme You would all say
the same could you see, as l see them, in
panorama, the wonderful concentration
of circumstances and events that have
eliminated in this grand opportunity.
II need not mention them, or repeat
those already mentioned, where seeming
defeat raised our efforts to higher
plane. And later Mr.. Searle's uneXpect-
ed visit to Duluth and our meeting in
st. Paul, when l learned of Mr.. Norvale's
method of handling bonds and doing bus
mess, his visit to Mankato still later,
his special liking for the city, his little
conceit to change the date of our con-
tract to July l5th,-his birthday, his
extended trip into the st. Clair country,
and Mr.. Pounds, when the finest crops
for generation filled all the landscape
with glorious promise-I say all these
things, following each other, and many
others unnamed, make it wonderful, and
show that the Divine Hand is clearly
working in behalf of Mankato.
''Yes, good Providence has raised to
the lips of Mankato full cup, pressed
down and running over. Will you dash
it from you and blast the fond hopes
that come with it? I do not believe it.
VIII you blot out from the hopeful sky
the glorious visions of the future this
opportunity brings into view? No, sure
ly, no! You business men and citizens
of Mankato will bid the council to make
all speed to grant the requested fran
chise, so that, in greater concourse than
gathered at Sibley park at the Wood
mans picnic, we may celebrate the open
ing of the electric line to Eagle Lake and
ST. Clair, and throughout the city of
Mankato on Mr. Norvale's next birth
day. If you do this, Mankato will rise
and shake herself for a changed future,
and go on prospecting and to prosper.
Immortal Shakespeare says, "There
is tide in the affairs of men, which
taken at the flood leads on to fortune
The tide is coming in, my fellow citi-
zens. Yea, we are in it. Shall we take
it at the flood that shall lead on to
Mankato's certain fortune?'
A. o. Eberhart presented the following
contract that had just been made with
that eastern company of fnanciers:
"Mankato, Mimi, July Is, l904.-Mr.
M. G.. Willard and Associates, Mankato,
MINI. Gentlemen: Confirming our con-
versation of today, we agree to under
take to finance your projected traction
road to Madison Lake and st. Clair, and
street railway system and lighting plant,
under the following conditions, viz:
'First. You are to organize COM
pany with a capital of 500, 100000 divid-
ed into $55O,OOO.OO common stock and
$l50,00000 six per cent preferred and
cumulative stock, and with per cent
mortgage bond issue to the extent of
100000.
Second The bonds when underwrit-
ten net your company IS per cent.
Third. A stock bonus (common) of
Is per cent shall go with the bonds.
Fourth. We shall have the right to
appoint the contractor for the construc-
ton of the plants and the road, but his
price shall not exceed Is per cent of
cost.
Fifth. You are to assist us in plac-
ing as many bonds as you can, locally
and along the line.
"Sixth. First years interest shall be
set aside for the bonds.
Seventh. You shall cause experts, APP
pointed by us, to report upon the prop
erty legally and physically, and we shall
draw your trusts deeds, assist you in
drawing your franchise, forms, charters,
ETC., and you to pay>us for such reports
and labor assistance in framing your
proposition into presentable form the
sum of 100000, 100000 upon signing
| this contract, and the balance when the
/ engineers report is ready and accepted
by us. Both parties shall then proceed
to carry out this contract speedily.
Eighth. 1t is understood that all
the moneys advanced by you for prelim-
mary expenses shall be refunded you out
of the first moneys realized from the
proceeds of the bonds or stocks.
ninth. You promise to secure the
necessary franchise and rights-of-way in
due time, and as cheaply as possible fol
the company.
MUNICIPAL BOND AND SECURI
TIES COMPANY.
"Per. A. Norvale, President.
accepted: M. G. Willard and Asso
ciates, by NJ. G. Willard.
Received above mentioned first in
stallment of $1,000 Zone thousand) July
Is, 1904.
| TIES COMPANY.
+, "Per. A. Norvale, President.
Mr.. Eberhart read letters from tn