The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1906-06-22
SIGHT TROLLEY Line
CONTINUED From Page One.]

the club 1t is not claimed that the
enterprise has been undertaken out OF
public spirit, but for the purpose OF
making it business enterprise The
local promoters cannot make anything
unless the project is such grazing sue
cess that the common stock benefits.
Mr.. Janney had said that the line may
not pay for a year or so, but it would
bring about the building up of the city
along the line and double or treble rea
estate values there. The line can create
its own conditions. 1t will not 90 to
West Mankato unless the property own,
ers there make fair provision to get il
there. Mr.. Janney says that he is, not
here to double or TRIBE any mans prop
unless a fair offer is received. L
there are 100 houses in one of the sub
urbs but no inducecents are held OUT fol
the line to 90 there it will not 90 there
but will ELSEWHERE and 200 house.
will be built where it goes and grass will
grow in the streets of the suburb that
did not get it. NIessrs. Ray and Noe
have made standing offer to give one
fourth of their holdings in West Manka-
to if the line will 90 there, which is
fair. Out of this condition there car
come reasonable support to the en-
terprise during its early weakness that
will carry it through to abundant sue
cess. All that is asked of the CONNER
cial club is that it will take the matter
up as it would any enterprise for the
good of Mankato, and that it will Sc
cure the subscriptions for $4,000 OF
preferred stock promptly, that the com
pany may ask for its franchise. The
stock is to receive five per cent inter
est, payable semi-annually, and it is
thought that the interest can be paid
from the start.
w. A. Funk said that he had great
faith in a proposition of this kind, and
none in the kind where a franchise is
asked for first. The people could well
afford to give $4,000 outright as a gift
to get good street car system. He ask
ed whether it was necessity to sell
bonds to cover the entire cost of the
plant, and if so whether buyers could be
found for the bonds. If he was in the
council he would never vote to grant a
franchise until the company was form
ed and it was known what it could and
person to handle until the company was
formed
Mr.. Andrews answered Mr. Funk, say
ing that the contract which mad Eeen
signed provides for the sale of the en-
tire bond issue, and there would be nc
question about the bonds. As to the
franchise, when it was accepted it would
be accepted with the deposit of guar
anty company's bond for $4,000. 1t was
desired to proceed while Mr. Janney
was here, but company could be or
ganized in few days. If the contract
is not carried out the city will have $lO,-
600 in its treasury in sixty days, if it
can collect the bond that soon.
Mr.. Janney was called upon by DR.
Schmauss. He said that Mr.. Andrews
had stated the purpose of his visit to
Mankato as clearly as it could be stated
and he didn't know that there was any
thing to add to it. He didn't care to
make lot of claims as to what could be
done, but would much prefer to show
twelve months from now what had been
done. 1t seemed only natural that a
town of this size, with so many adj
vantages and railway connections should
desire to grow. 1t must appreciate that
growth will follow a street car line. He
had come for this purpose and to make
some money for himself.
Mr. Funk asked whether the outskirts
that were not situated so they could
give anything were to be left out.
Mr. Janney replied that the spirit of
give and take would hold good in the
railroad business as i'll other lines. The
company would expect that people with
large amounts of vacant property would
contribute so that they would make it
pay for the car line to 90 there and
add to the value of their property. AT
the. same time the company would eX-
pect to- serve the people. The question
would be whether to go to one part of
the city just to build it up, or to 60 to
another part where there were induce
ments held out.
H. A. Patterson said that it struck
him that this was a very business like
proposition. Mankato has long wanted
a street car line, and this seemed to
be the best proposition ever offered. The
subscribers would want to know how
MANY miles of car line are to be built
and what proportion their $4,000 would
be to the whole cost of the enterprise
and whether the preferred stock was
cumulative. and the amount of stock to
be issued. and the cost of the whole