The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1908-07-16
STOCK
OF NEW ELECTRIC
LINE
Connecting SteubenviIIe
and Canton
Being Offered Canton
Merchants Who Are
Reported to Consider
Proposition FavorabIy.
Right Of Way Secured.

That the projected Steubenville-
Canton Railway company will soon
start constructing their interurban
railroad, is an assured fact, accord
ing to the statement or William B,
Quinn, who is promoting the road in
this city and surrounding country.
Seyenty-fve per cent of the right of
way for the road has been secured
and the remainder will soon be ac-
cording to interested parties. The
right of way for the read is all private
and fenced in. The maps, estimates.
plans, ETC., are in hands of competent
capitalists who will finance the road.
In financing the project the promo
ters have adopted a system different
from that usually employed Instead
of making an estimate and mortgag-
ing the road on the estimate the road
will first be completed and then will
be mortgaged to it's real value. By
this method it is thought the indebt-
edness of the road will be lifted more
quickly and the time for the payment
of dividends fastened.
The road is a much needed one
Steubenville is difficult of access from
Canton and Canton is just the same
from Steubenville. The steam road
that one has to take to get from the
one city to the other go a roundabout
way and several changes must be
made. The distance on the one steam
road is 81 miles and on the other SO
miles. In the projected electric the
distance will be 62 miles.
The territory covered by the road is
good one On the line will be Win
tersville, Richmond, East Springfield
Wolf Run, Carrollton, Hibbets, Mai
vern, Waynesburg, Marks, Waco and
the road will come within a mile of
many smaller places. The farming
country through which it passes has a
population of about $4,000 exclusive
of the cities and towns. and is a good
territory for travel,
The total cost of the road has been
estimated at $2,75O, 900, The road will
be financed by prominent New York
! syndicate. Five thousand shares oi
stock have been allotted for subscrip,
ton, this method having been decided
upon by the officials of the road in
stead of asking any donations from
boards of trade. merchants. etc. The
| par value of the stock is $100 a share
! but the present allotment is Offered
for $75 share, payable in three in
! stallments of S25 each The first tC
be made when at least one-half of the
| line is under contract for construc.
ton, the second and third payments
are to be due one and two months
after.
The line is we'll thought of by the
merchants of Canton, as the territory
covered by the road will mean an IN
crease of trade for them They are
subscribing literally to the stock OIL
sale according to Attorney Quinn, who
is handling the Canton end of thC
project for the firm of AXE and Day
the representatives of the cOmpan!
here. The road will come into thu
city on East Ninth street.
The officers of the company are
President, e. E. Francy, vice presi
dent of the Peoples National bank
Steubenville; vice president, ]. C. Big
ger, Steubenville; secretary and treas
urer, H. H. Smith, Steubenville; gen
eral manager and chief engineer. T. Fl
Loomis, Steubenville.