Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1907-01-12

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Of one Of the leading banks says that
so far as anyone can tell the people
in Oskaloosa are entirely satisfied with
| their investment.
INTERUR5AN CONTRACTS.
People Should Not Become Confused
BY the Two Distinct Propositions.
There are two contracts between
Hamilton Browne and the committee
of the Retail Merchants Association.
People should not confuse one with
the other. The substance of the in
terurban contract was set forth in the
petition people signed for an election
and is incorporated in the ballot they
will vote on Tuesday. A tax aid of per
cent is to be voted to the Marshall
town Electric Street and Interurban
Railway Company, which is Browne
on condition that said company builds
an interurban road from Marshalltown
to Melbourne and from the Pilgrim ho-
tel corner to the city park. A train
must be running over the road before
Browne can collect the tax This is
the tax aid proposition as set forth In
the ballot published in this issue.
The other contract is separate and
distinct from the tax aid contract, al
tho made with the same Mr.. Browne.
In it Browne says he has contracted
to buy the local street car and light
ing property. He promises to build
a street car line to the fair grounds
and Boone street loop and to reduce
electric light rates slightly. Mr..
Browne had an expert engineer here
who inspected the plant and reported
to the brokers who expect to
sell several hundred thousand
the plant must be improved to the
extent of 100000 in addition to the
cost Of the new street car lines before
he would recommend the property.
These Improvements have already been
begun. AS matter of fact Browne
must bond the local company for the
money with which to build the road
to Melbourne so both Improvements are
inseparably involved financially, but
the legal status Of the tax Is that it is
voted for the building of the road
therein defined and is not involved in
the other agreement as to q franchise
extension for the street car company.
1t is in fact contract between the
public and the old interurban company
once organized to build to Grundy Cen
ter, and now owned by Browne.
! The franchise contract reads as fol-
lows:
Contract.
This agreement, made this 26th day
Of November, 1906, A. D., by and be-
tween Hamilton Browne, of Chicago,
Cook county, Illionis, and the commit
tee of the Merchants Association Of
Marshalltown, Iowa, to-wit:
Whereas, said Hamilton Browne
has entered into an agreement to
purchase from Jones & Hovey all
their capital stock and rights in the
Marshalltown Light, Power & Rail-
way Company, OF Marshalltown, Iowa,
and
Whereas, said Hamilton Browne
has purchased ali the capital stock
and rights of the Marshalltown Elec-
trio Street and Interurban Railway
Company.
Now, therefore, it is agreed on the
part Of the said Hamilton Browne
as follows. to-wit:
First; The said Hamilton Browne
agrees to accept new schedule OF
rates for electric lights in the city
of Marshalltown, Iowa, said rates to
be fixed by ordinance passed by the
city council of the city of MARSHALL
town, said schedule of rates to be
fixed by said ordinance to be as fol-
lows:
Base rate IA cents per XIV.
Bills of 81 to $40, 10 per cent dis
count.
Bills Of $40 to SIS, is per cent dis
count.
Bills of SIS to s25, 20 per cent dis
count.
Bills of s25 to ss5, 25 per cent dis
count.
Bills Of $35 to $50, 80 per cent dis
count.
Bills of $50 to SIS. s5 per cent dis
count.
Bills of SIS to 500, 40 per cent dis
count.
Bills of 500 to $3.50, As per cent dis
count
Bills Of over $3.50, discount of so per
cent
The said above named rates, how
ever, to continue only for the space
of five years, and after the space of
five years there is to be a readjust-
ment upon the basis and under the
terms of the present ordinance, that
is to say, that the said rates are to
be no higher than those rates in force
in cities in Iowa of size similar to
the city of Marshalltown.
In addition to the above the said or
dinance also to provide that for wiring
to residences and places of business
the wiring is to be done by the electric
light company without charge.
AS to the rate on gas, the said rates
are to remain the same as those now
In force and as fixed by the present or
save the gas company is to