The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1906-09-21

collect. The people should act promptly
and cheerfully.
President nixon said that he had goi,
ten to the point where he did not care
whether the road was built or not. He
would try to raise the $4,000 that is
wanting, and if he failed it would de
volve upon the club to provide the en-
tire $35 200.
Rev. E. l.. Heermance favored getting
the $25 900 in the bank and thus have
something to offer for a road.
DIR. Andrews moved that the chair APP
point a committee of three, of whom the
secretary shall be one, to call on the
subscribers and ask them to change
their names TO the list Just suggested
This was carried.
Construction Company Next.
President Hixon said that the gentle
men who viii furnish the bulk of the
money will expect to do business with a
construction company to be organized
in MankatO. The locally subscribed
money would be put into the constrnc.
ton of the road, and the construction
company would be expected to take the
bonds and capital stock of the company
for the balance, instead of cash. 1t was
a very simple and business like matter.
The construction company will he re-
spOnsible for the building of the road
and equipping it.
Rev. Heermance asked what would be
the cost of the road.
Cost Less Than Expected.
Mr.. Hixon replied that it had been es.
timated by a railway man that a $780,
600 to $155, 900 bond issue would build
it. He didn't know at what figure the
bonds would be issued. He would like
to get the estimated cost verified by an
engineer, because the figures given by
the railroad man are so far under the
figures given by all the eastern promot-
ers that it looks too good to be true. If
the railroad man is right, the eastern
men figured too high and included a
good, big rakeoff in their figures. With
the proposed company there will be no
rakeoff. The proposition looks more at
t~ractive than ever before from the
stockholders point of view. Janney fig
ured the cost at 100000 above the esti.
mate of the railroad man. Mr.. Hixon
had verified the figures as to the cost of
the steel and the electrical equipment,
and the only thing remaining to be veri-
fed is the cost of the labor. A COM
petent and able construction company is
needed. 1t will get nothing but the
stock, and to make it worth anything
they will have to make the road pay.
DIR. Andrews asked whether there was
a guarantee that the road would be
built if the citizens raised $25 600.
President HiXon said that the com
pany must be organized and incorpor-
ated, and a construction company Or
ganized. and action taken on the con-
struction proposition, all of which
would have to be made a matter of rec
ord.
DIR. Webster said that the city had
been thrown down on the last PROPOSE
ton because the $4,000 bond was no.
put up. He had supposed that the bond
was up.
President Hixon said that he had not
had an engineer prepare plans and get
figures. They would step down and out
if there was any better proposition pre-
scented. He had gone to his personal,
friends to get the promise of the funds
needed. He was not a promoter AMI
never intended to be.
No Quorum Present.
There was not a quorum at the meet
ing, but President Hixon called to or
der at $3.50 p. m. There was six less
than a quorum then, and the number
was not increased later. Mr.. HiXon said
that two or three important matters
were to come up. He had hoped that
there wonld be a greater attendance. Out
of 2S5 members it ought to be possible
to scare up twenty-five for the meet.
ings.
Secretary Spencer said that he had
sent cards to all the members for each