CanÌƒon City record. [volume] (CanÌƒon City, Colo.) 1883-192?, 1907-07-11

interruption until completion ana
with as little delay as possible.
And for the full compliance and
carrying out Of the above named prop
osition our signatures are herewith
attached.
Canon City. Colorado. July 3, 1907.
(Signed w. d. EGOLF, tSeaD
(Signed) W. c. ROSS. (SeaD
In further explanation of the above
proposition. on behalf of myself and
associates, ! desire to state to the
public that We have put in some
seven or eight months OF time and
several thousand dollars in the en-
deavor to secure for the creditors of
the old company the immediate pay
ment in fun of their claims and for
the benefit of the public the building
of the proposed electric road from
the natatorium to the Royal Gorge.
We have had this proposition up
with a number of capitalists and rail-
road builders: in each case we found
the same objection. lamely-the
grade MS now constructed is not in
accordance with the stakes OF the To-
eating engineer, and this has result
ed in increasing the grade and put
ting such curves in the line as TO
make 1t impossible to handle broad
gauge equipment. and the first three
miles OF the grade are so fiimsily con-
s;ructed as to be unfit for use as
road bed for general purposes and
heavy trafic.
No capitalist or railroad builder
would advance seventy thousand dol
lars for the purpose of paying the
outside Indebtedness of the old COM
pany prior 10 the construction of such
line under the franchise as would pro-
duce at least some revenue 10 the in
vestor.
did. however, succeed In enlist
ing the interest OF Messrs. Ross and
Egolf. each OF whom are gentlemen OF
ability. character and fiancial respon
sibility, who guaranteed that they
would Immediately build the street
car line within our city, as provided
for by the ordinance granted me last
January. and ultimately pay all prov
en- claims now filed with the receiver,
without any deductions whatsoever.
Al meeting of the creditors the
proposition presented has been re-
iected. without any reasons being as
signed therefor. rs evidenced by the
following communication. through
their representative. to-wit:
To James H. Peabody. Receiver.
Canon City. Colorado.
+. Sir---At n meeting of the creditors
Of The Canon City. Florence & Royal
Gorge Interburban Railway Company.
II was decided to reject the PROPOSE
ton made to you by Messrs. W. d.
Egolf and w. c. Ross.
Dated Canon City. Colorado. July
5th, 1907.
(Signed) T. NJ HARDING.
Representative for Creditors.
AS the public will remember, a bo-
nus OF $25.000 in cash was deposited
In bank by citizens OF this county for
the completion OF the above proposed
railroad. At a later period this was
fully released, and upon the securing
OF my present franchise similar
bonus was rendered me, payable up
on the completion of said road.
This bonus l have voluntarily re-
leased to the donors. and In the above
proposition submitted to the creditors
through the receiver. all I asked or ex-
pected was delay In the ultimate
payment of the claims against the
old company.
You will note that in the con
tract it calls for the protection of the
franchise as granted, which means
the starting of the work prior to July
2lst. and the completion of the line
within the city limits by January
21st, 1908. This would mean an ex-
penditure in the city and the various
avenues of trade of some two hundred
and fifty thousand dollars.
feel that have traversed every
ave Aue and exhausted every re-
source for the accomplishment OF the
conditions imposed upon me by the
City Council and to comply with the
wishes OF the creditors, and wish
to now. state. most positively, that
am still prepared to comply with
the provisions OF the city ordinance
In completing the Electric Street Rail-