Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1907-05-30

is HELD UP
THE STOCKHOLDERS OF LINE IN
SOUTHERN IOWA AND NORTH
ERN MISSOURI MEET OBSTACLE.

Keosauqua, May 29.-At meeting
Of the Iowa & Missouri Water Power
and Traction Co.. held here today to
pass upon the terms OF the contract
submitted by the New York parties
who are flnanciering the Interurban
Electric railway from Fairfield and
Keosauqua, Ia, to Memphis. Mo-, by
the development OF the water power
of the Des Moines river at this place,
1t was decided by a unanimous vote
Of the stockholders and officials OF
the company to amend some Of the
submit the same for the final approval
of the eastern flnanciers and contrac-
tors.
The differences existing between the
terms as amended by the local COM
pany and those submitted by the New
York f1nanciers are OF but minor de-
tail and no doubt is entertained by
the parties interested that the amend
ments will be ratified by the New
York parties BIB soon as the papers
reach that city which will be this
week. The main difference at issue
lies as to the payment of the right of
way. The New York parties think
that this should be practically donated
as Is generally the case in project of
this kind and Importance, by the
farmers along the line, whose land
will share a large increase in value.
Should the right of way be thus Sc
cured. a saving of something like $685.
900 would be made which is about the
main issue now dividing the local CON-
pany and the eastern capitalists.
1t is too small sum to let project
of this magnitude fall through
Want Cost Guaranteed.
The concensus Of public opinion as
voiced here today was that the free
right OF way should be obtained and
no doubt an effort will be made in that
direction. The revised contract sent
back to New York today simply asks
that the cost of the right Of way be
guaranteed and be paid for as a part
Of the bonded debt out of the proceeds
OF the bonds, to be refunded back out
of the earning of the road. This no
doubt will be accepted by the eastern
capitalists and work commenced at
once, as the contractors have every
thing in readiness to start on the rel
tnforced steel concrete water power
dam which will develop force Of 500
horse power. The contractors for the
road bed are also in readiness to COM
mence work and they will be here at
once as soon as the contract is rati-
fled in New York While the long de-
lay pending the adjustment of details
and reconciliation of views is to be re-
gretted, at no time since the opening
~ iafS
thing but good faith on the part of the
promoting company here and the east
ern f1nanciering partners, much us has
been said to the contrary In some rress
items, innuendos and street gossip
But every coIcnunity has its kick
ers." Still the world moves on. "Too
bad the local Joshuas cannot stop the
sum-" said a prominent official of the
company to your correspondent. "Tell
the Ottumwa Courier that the road
will be built: that 100000 worth of
bonds are sold and the money is
ready, the small differences now pend
ing adjustment are In no way vital"
Thus spoke Col Blackledge, president
OF the company, when interviewed for
his opinion today, and his view We're
only re-echoed by the other officials.
All deplored the false impressions
conveyed by a recent article appearing
in paper. that the project was
Up in the air. etc. The pronoting To-
cal company is comprised of some of
he best and most Influential citizens
who desire to take the whoie people
into .heir confidence as matter of
ru':lic interest and :clrt the widest
publicity of facts-1lot jealous guess
vIy