The Oskaloosa herald., 1906-05-17
THE INIERURDAN
TO START AT ONCE
STOCKHOLDERS VOTE uNANi,
MousLY FOR PROJECT.
WILL ACQUIRE LOCAL PLANT
Consolidation Of interests Means a
Paying Institution From the start
and . Better Foundation For
Greater Possibilities.
va Beacon, on ID Buxton!


Such were the orders given the
Board of Directors of the uskaloosa &
Buxton Railway this morning by the
stockholders who with scarcely a
voice raised in protest advised the
directors of the company to purchase
the electric light and power plant OF
the Oskaloosa Traction & Light Co.,
and proceed with that beginning to
build the line from Oskaloosa to Bea-
con Immediately. From Beacon the
extension to Buxton will be made up
on the completion Of the line to Bea-
con.
The stockholders ratified hearty
the action Of the directors on April
81, when the Board decided that it
would purchase the light and power
plant and build Immediately.
w. r. Lacey, vice president, called
the meeting of the stockholders to-
gether this morning at 10 o'clock and
entered at once into a full discussion
of the proposition to be laid before
the stockholders. almost every stock
holder in Oskaloosa was present at
the meeting and scores OF others in
terested listened to the plan by which
the directors expect to get something
tangible. There were many women
in the audience and they were far.
from the least interested.
Mr.. Lacey showed that the method
of the directors If adhered to would
give Oskaloosa a system of street cars
extending from the Holiness univer-
sity on the east to Buxton, southwest.
a light system with the city contracts
on a money-making basis; power
system that furnishes most of the
small power users in the city, and a
heating system that finds a good mar
ket for all its product.
Following MIR. Lacey's explanation
for the directors, Sam Baldauf. Mayor
Williams, Liston McMillen, DR.. s. W..
Clark, J. R. Gentry, H. w. Gleason,
G. W. Shockley, A. F. N. Hambleton,
DR.. D. w. Detwfler, Judge L.C .Blanch-
ard, Ralph H. Burnside, Frank Under
wood and ]. M. Kagan addressed the
meeting.
Overwhelmingly were the directors
upheld in the banot which followed.
Kline hundred seventy-eight and one
half shares of stock, out of the 1900.
shares voted on the project and but
five shares out of that entire sum
were voted against the project.
Not only were the heavy stockhold-
ers in the corporation behind the
movement for which the directors ask
ed support, but men and women were
present who had but a half, a fourth,
an eighth or tenth share in the
stock as represented by their subscrip-
ton to the big stock fund and eacnI
of these was accorded the same hear
ing as the larger owners in the ballot.
They Endorsed the men in charge of
the project in no uncertain way in the
manner in which they supported their
plan.
To commence building at once; to-
buy the Oskaloosa Traction & Light
Co. plant; to issue more stock,and to is
sue preferred stock; these were their
orders and they were issued in the
following resolutions, which were pre-
scented by H. w. Gleason:
whereas, At a meeting of the
Board of Directors of the oskaloosa
& Buxton Electric Railway Co., held
at the Offices of the company on April
27, the resolutions were adopted as
follows:
Resolved, That this company COM
mence at once the construction of the
Oskaloosa & Buxton Electric Railway
to Buxton, Iowa, and that the same
be completed and put in operation to
Beacon on or before December 1,19O6;
and be it further
Resolved, That this company pro-
coed at once to acquire the owner
ship Of the Oskaloosa Traction and
Light Company upon the options now
in the possession of this company;
and be it further
/ Resolved, That the question OF
amending the Articles of Incorpora-
ton increasing the authorized capital
stock of the oskaloosa and Buxton
Electric Railway Company from Five
Hundred Thousand Dollars ($5O0,00O
to Seven Hundred Fifty Thousand
Dollars (s750.OO0) be submitted to a
meeting of the stockholders Of said
company; and be it further
Resolved, That the question Of aud
ing to the Articles of Incorporation a
provision for the Issuance Of preferred
stock of said Oskaloosa and Buxton
Electric Railway Company, as provid-
ed by law, to an amount not exceed
ing the sum Of One Hundred Fifty
Thousand Dollars (s150.0O0) be also
submitted to stockholders meeting.
BE it resolved, That the resolutions
be and are hereby ratified and approx
ed, and that the Board OF directors
be and are hereby authorized and en-
powered to carry same into execution
provided, however, II after a thor