The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1909-05-19

IF l should sell my two-story
building on Yakima avenue tomor-
row, 1 would invest every cent of the
money derived from the sale in stock
of the Yakima Valley Transportation
company" So said L. H. Clogg of
New York, owner of the Clogg build
ing, during his sojourn in North
Yakima during the past week.
Mr.. Clogg is heavy realty owner
and investor in many cities of the
country. He is considered by those
who know him best to be a conserva-
tive business man and one who is
awake to the main chance" Speak
ing further he said 1.-THE interur-
ban property in the Yakima valley is
destined to become a great money
maker. l cannot conceive of a better
investment for capital. L wish that I
could take advantage of this wonder
full opportunity"
Another of the old-timers and one
who has made good financially on
a score of investments is Arthur Cof-
fin, president of the firm of Coffin
Brothers. The Herald printed an in
terview from him a few days ago in
WHICH ne Stdlcu lndl lie UellGNeu lIldl
the interurban line was to become a
source of revenue for the stockhold-
ers, the magnitude of which no man
could definitely foresee. Mr.. Coffin
stated further that he had deal
pending for several thousand acres of
land which his firm owns over in the
Horse Haven country and that the
proposition has every Indication of
being cOnsummated. He assured a
representative of the Herald Saturday
that if the deal was effected as plan
ned, he would invest the entire first
payment, amounting to about $4,000
in stock of the Yakima Valley Trans
portation company.
These are statements from gentle
men who are considered among the
most hard-headed of the financiers OF
North Yakima and are indicative of
an undercurrent of feeling that has
existed in the community since the
transportation company was first or
ganized, namely, that the control OF
the company should be kept at home
and that the necessary money is here
to accomplish this end.
Engineer e. NJ. Kenly and II. n
Firth, secretary of the company, have
been at work for several days on the
plan of raising money in North Yak
ina for the continuation of the work
of the company. 1t will be recalled
that the present capitalization is
100000 and that in round numbers
100000 has already been subscribed
If an additional $4,000 can be
raised the keeping of the control OF
the transportation company at home
will be an assured fact. Moreover
this additional $4,000 will enable
the company to continue the building
of lines into the surrounding country
and save the valuable franchises
which have been donated and which
altogether have not cost over $4,000 ir
cash. If these franchises are allowed
to lapse it is pointed out that an eX-
penditure of several hundred thou
sand dollars may be required to secure
them again.
The response to the call for more
capital to save the company and keeI
the control at home has met with a
generous response and many of the
foremost citizens have signified their
willingness to take more stock and
make the company an assured sue
cess from local investment point OF
view. Later on it is pointed out that
the bonding feature may be brought
into play and that lump sum may
be realized from this source which
will enable the company to proceed
in its construction program on an i'm
mense scale. if conditions demand it
Meanwhile the campaign for local
subscriptions is going merrily on and
meeting with instantaneous success.