The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-07-31
BUYING THE BONDS.
Topeka Investors Being Given Oppor-
tunity to Help Council Grove Line.

tunity to Help Council Grove Line.
| Active work upon the construction of
| the Topeka & Southwestern railroad is
| likely to be delayed on account of the
| failure of the bonds to carry in Mis-
| sion township unless active steps are
taken a once to make up the deficit.
The matter has been called to the at
tention of the transportation commit
tee of the Commercial club and an at
tempt will be made to al once secure
the sale of enough bonds in the city to
warrant the construction company to
| commence work.
A committee spent two hours can
wasting this morning and then adjourn
ed SO that the members might attend
the funeral of Justice Greene. During
the hour or so that they worked they
had no trouble in -disposing of $1,000
worth of the bonds, though it will be
necessary to sell about four times this
amount before work will proceed.
Though the failure of the bonds to
carry in Mission township has been a
great hindrance re the promoters of the
road, there is no doubt but the obstac-
les will be overcome and that the con-
struction work will commence within a
the merchants of the city as we'll as
to the farmers in the district through
which the line will be operated.
Some difficulties have been encounter
GU III securing the I1Snt OF way, as there
are almost as many different routes
proposed as there are farmers in the
territory through which the line will
PASS. The contract, however, provides
that the curves must not exceed per
cent and that the grades must not ex-
coed a maximum of l per cent. This
clause narrows down the choice of
routes and it is more than likely that
the route taken will be almost identical
with nearly every survey which has
been made for line through this terri
tory An old line. almost identical as
to the course of the present road was
surveyed shortly after the close of the
road. Is t 5..}F@s
The statement of the purpose of the
committee appointed by the Commercial
club is given out over the signatures of
transportation committee and is as fol-
lows:
"On July 26 at special meeting of
the Topeka Commercial club a commit
tee consisting of E. B. Merriam, J. w.
Robinson and ]. B. Sims was appointed
to wait upon the business men and 9TH
ers interested in the success of the To-
peka-S railway. This COM
mittee will call upon the various bust
ness men in Topeka and ask them to
purchase one or more of the Topeka
Southwestern Railway company's first
mortgage bonds, and in order that the
business men and those interested in
Topeka may understand the mission of
this committee 1 desire to make the fol-
lowing statement:
Before the construction Of this line
can begin it is necessary, under the
contract, for the local company to fur
nish the entire right of way and while
all of the townships with the exception
of Mission, Shawnee county, have pro-
vided for the right of way, it is nee
essary that the right of way be pro-
vided for in Mission at once in order
that the construction can begin at the
Topeka end of the line. The Topeka
Southwestern railway is to be built just
the same as any other railroad, by is
suing first mortgage bonds. These
bonds are issued through a reliable
trust company and are delivered to the
construction company at so much per
mile as the work progresses. The con-
struction company, is now ready to be-
gin the construction of the railroad and
is asking the railroad company to de-
liver the right of way to build it on.
mission township failed to vote the
required bonds to aid the construction
of this line therefore it makes it nee
essary for the right of way to be pro-
Vided by some other method, and the
company has succeeded in getting the
financial people to set aside a portion
of the first mortgage bonds, which
must be sold at par, and the proceeds
used in locating and acquiring right
of way from the city limits of Topeka
to the west line of Mission township.
Now, if this Construction company
is willing to come out here and in
vest S1.4OO,OOO in these bonds it
should be pretty good evidence that
they are a good investment for our
home people and l trust that the peo-
pie will not confuse this with some
stock or donation proposition, but I'M
derstand that when they are buying
these bonds they are buying identicaf-
Nv the same securities that the Con-
struction company is taking for build
ing and equipping the railroad.
Now, Just word on the construc-
ton of the line. The mayor of the
civ of Council Grove, w. F. Sham
LETTER. has officially advised us that
the right of way at their end of the
line is ready to deliver to the Con-
struction company. and that they have
bona fide deeds ready to turn over
whenever the Construction company
is ready to begin work. Now can
Topeka afford to lose the construc-
tfon of this line? 1t means 100000
will be spent in Shawnee county. 1t
means that every man and team en-
Moved on the construction of this line
must be supplied by the Topeka mer-
chants 1t also means that as soon as
ten or twelve miles of this line is con-
structed motor cars will be put in
operation and as soon as the line is
completed this railroad will mean
more to Topeka than any other enter
prise they have secured since the
building of the Santa Fe shops.
''Since this project has been turned
over to my committee it has cost the
Commercial club S565 and every per-
son who has subscribed to that fund
that the money will be returned to
them as soon as the line is completed.
So far there has been not one cent do