The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1906-08-03
Electric Railway Promoters
Are Not Discouraged.
Do NOT DEPEND on JANNEY
President Hixon' Talks to the Com :
merciaI Club Members Last
Evening on the Matter.
From Tuesdays Daily.

sidered bv the Commercial club last
night was the street railway project
After the tub factory matter had been
disposed of there was a lull, and Dr.
Andrews asked whether there was not
a report to be made on the street rail
way project.
President Hixon was the only one of
the promoters present. He presented a
lengthy statement, taking up most of
the remainder of the evening. He said
that the situation now is that if a
street railway is built it will not be
built by Mr.. Janney and his crowd.
Their contract had expired July Is, and
for some cause they did not wish to re-
been held by the terms of the contract
until the 18th, and the local promoters
had been given to understand by Janney
that he was willing to extend the time
two or three days, and based their as
sertion on his ability to get financial
men. On July Is the subscription was
still $4,000 short. Had it been but
$1,000 or $4,000 short the promoters
would have assumed the risk and tele-
graphed the amount was raised, but
they did not do this. When they were
notified that the money was raised, Jan
ncy's people absolutely refused to go in
TO the deal. They said that it had been
delayed so long, which was so unheard
of in their experience, that other in
vestments had come up and they had
accepted them. He could not blame Mr..
Janney and could hardly blame the 9TH
ers. Janney had his bond ready to file
at any time. The trouble was that
Mankato did not get enthusiastic until
the eleventh hour.
However, the promoters had not de-
pended entirely upon Janney, but as the
delay in raising the subscriptions &C.
Cured they had taken the matter up
with two or three other parties. One
was found upon investigation to be
guaranteed absolutely. They claim that
the only way to build electric lines in
cities of the size of Mankato is to send
men to the city to get our people to
guarantee the bonds, in which case they
agree to furnish the money required,
100000 or 100000, or whatever it may
be- Mr.. HiXon had said that this could
not be done in Mankato, but these peo-
pie said that it could, and that they had
done it many times. The promoters are
simply standing these people off now.
They had investigated them and found
them to be all right
Mr.. Hixon went on to say that still
another plan had suggested itself, and
that was that he and his people in La
Crosse, Wis, build the road He had
taken the matter up with them, and he
was willing to abide by what they say.
If they think it safe investment
there is absolute assurance that the
money will be forthcoming. They want
to know that they won't lose their
money. Mr.. Hixon said that this turn
in the situation changed his position be-
fore the citizens, and instead of being n
promoter to get others interested, it
placed him in the position of a heavy in
vestor which must make his attitude
entirely different from what it was be-
fore. "Now that the matter has re-
solved itself down into an Investment
where | am Participant, / want to
know where | am at" declared Mr. Hix-
on.
Continuing, Mr.. Hixon said that he
had been quoted that street railway
in Mankato would pay, but he had new
er made the statement. He did not think
that it would pay unless it was coupled
with an interurban line. President Ed
wards of the La Crosse Electric Railway
company, will come to the city this
week to look over the situation, and if
he reports that the investment would be
fair and reasonably safe one, he could
assure the club that the money would
be Forthcoming. If it can be shown
That the investors will not lose any
money, it will be provided at once.
MI HiXon said that he had been look
ing up statistics concerning electric rail.
ways in cities of 10000 to $4,000 pop.
ulation, and in fifty places approx.
mately of the size of Mankato. exclu- |
siye city street ear lines have moi been
paying Investment except in one or |
two cases. Unless coupled with an in |
terurban line or street lighting prom |
osition they do not pay. In every one !
of the small cities of Iowa there is |
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