The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-07-08

pany to place $1,4Oo.0O0 of first mort
gage per cent 20-year gold bonds
and with the proceeds build and equip
the proposed line of road from Topeka
to Council Grove and have same in
operation to the west line of Shawnee
county on or before April /, 1909.
"As an evidence of fairness and
good faith on the part of Lamprecht
Bros. & Co. and the construction COM
pany, which has recently qualified to
do business in the state of Kansas by
certifying to our state auditor that
$4,000 cash has actually been paid into
the treasury, the said construction
company of which H. NJ. Herbert and
precht Bros. & Co., are president and
treasurer, is now under written con-
tract to accept these bonds as their
compensation for the work of building
and equipping the road.
Thus, 1t is evident that the con-
struction company or Lamprecht
Bros. whose interests are the same.
must sell the bonds in question or hold
the same themselves and advance the
cash for construction as the work
progresses.
1.-The Columbia Trust company, &c
Nassau street, New York, are trustees
in charge of these bonds. They are
authorized to deliver the bonds only
on a proper showing that contracts
between the local railway company
and the construction company are
complied with and they will be de-
livered by the trust company only on
the written requisition Of the officers
of the local railway company, thus
safeguarding absolutely the interest of
every local bond purchaser. The con-
tracts between the construction COM
pany and the sub-contractors
sub-contractor has filed surety
bond guaranteeing the COM
pletion of the grading within the
specified time. Lamprecht Bros, the
construction company and the sub
contractors are all ready for action,
with men. teams and all the necessary
equipment on the ground, anxious to
begin work and spend half a million
dollars of eastern money in Shawnee
county just as soon as the local Off
GERS of the opeka-Southwestern fur
nish the right of way on which to do
the work.
1.-The written contract plainly
states that the entire right Of way
from terminal to terminal must be
provided before the construction COM
pany will begin work. Wabaunsee
county has furnished the right of way
and Council Grove and Morris county
have complied and have already
raised $4,000 necessary to pay all of
their right of way claims. Shawnee
county has not. The total cost of
right of way in Shawnee county is in
round numbers s50,0O0-$30,O for
the city proper and $4,000 to acquire
the county right of way.
Nearly 5000 has been paid on the
county end of the proposition, leaving
$4,000 yet to be provided.
ITO tighten the immediate burden
on our local people and to show that
they are manffestly fair in this mat
ter. the Lamprecht Bros, and the
m 7Cfr ots1
representative, Mr.. Herbert, now offer
to waive the right of way in the city
of Topeka and Mr.. Herbert states pos
itively that with the right of way &C
Quired from the west line of the city
of Topeka to the west line of Shaw
nee county. his company will at. once
begin work, provided the local railway
company will Immediately take steps
to secure purchase options on neces-
sary city property and take prompt
steps to institute condemnation pro-
ceedings to acquire such right of way
property as cannot be acquired by
purchase.
Your committee Is firmly convinced
that If an out and out donation were
asked, the citizens of Topeka could
well afford to contribute $4,000 for
the enterprise. However. no dona-
ton is asked but the immediate sale
of $4,000 of bonds must be con-
pany part of the contract.
THE total bond issue of the Rail-
way company is $1,50O,000, or $2360O
per mile. Of which issue Lamprecht
Bros. take $1,40O,000 and contract to
build standard gauge railroad with
all the necessary depots, sidings. sta
tons and stock yards and all the
equipment is to be first class and am
pie to handle all local freight, passen-
ger and express business offered. The
remaining 100000 in bonds have
been set aside for the local company
to sell and pay for right of way and
for engineering and incidental ex-
penses, and it is of this 100000 OF
bonds that the public-spirited business
men of Topeka have already SUBJ
scribed and paid for nearly SIS. 900 and
it is of this same bond issue you are
now asked to purchase S14. 900 more
that the money may be applied on the
purchase of right of way to let the
work begin without another days de-
lay.
'They are first mortgage on every
asset the company possess or may ac-
ouire. They bear 6 per cent interest
payable semi and run for &c
years.
1.-THE members of this committee
have absolute faith in this proposition
We have the direct assurance of Mr.
H NJ. Herbert, president of the con-
struction company, that the right OF
way matters settled as above outlined
the work of grading will begin at once
within forty-eight hours-and push
| the work to completion.
His statement is also confirmed by
a letter from Mr.. F. J. Curnick. repre-
senting Lamprecht Bros. & Co., anc
now in possession of this committee
The construction company has thu:
| far shown it's good faith and has me-
every agreement on its part. 1t is now
up to Topeka and Shawnee county tt
do our part and furnish the right Of
way. Respectfully submitted,
81. w. ROBINSON,
Chairman.
GEO. w. CRANE,
"E. H. CROSBY.
w MER RAM