The Cairo bulletin., 1909-06-25
PLANT TO BE SOLD JULY UN
DER MORTGAGE HELD BY
TWO CAIRO BANKS.
STORY OF HARD LUCK
Which Pursued Enterprisine Citizsns
Who Wished to Do Some
thing for Their City
and Themselves.

banks which hold the mortgage on
the plant of the Cairo Contracting 4
Dredging Co.. have decided to fore
close and that the plant will be sold
to the highest bidder on July ,, to
satisfy the mortgage
While officers of the company are
reticent as to the future ii is re-
garded by those who cugat to know
as reasonably certain that the plan.
will be bought by a new or reor-
ganized company which will put it in
good working order and complete the
big contracts which the present com
pany has on hand with the Cairo &
Thebes railroad company and with
the city of Cairo. approximately Two
million cubic yards.
The company was organized about
two years ago by a number of public
spirited citizens who were willing to
risk some thousands of their money
to demonstrate the possibility OF doing
here what had been done elsewhere
and what had been dream by hope.
full citizens of Cairo for years. These
citizens sent a con-nTttet to Kansas
City where such a plant had been
in operation: they sent for experts
to look over the ground here who re-
ported favorably; they had a promise
OF free material from the river by
Mr.. Smith; they had also a promise
of big contracts from the Cairo &
they sent for representatives of the
company which produces the machin-
cry needed in such a plant. and they
put up the money 10 establish and
start the plant. some $4,000.
But ii appears that things went
wrong from the start: the machinery
did not run smoothly. not being up
to the standard bargained for; there
was no experienced dredging engi,
neer in charge (such as Mr.. Allen
whose services We're secured about
year ago.; the machinery Went 70
pieces at frequent intervals; the river
acted badly. oscilating constantly be-
tween a point too high and a point
too low to operate the plant, in man
ner and 10 an eXteat never before
heard of in these parts-and yet, with
all these draw backs, the company
managed to do a great deal of work
until a few months ago when mat
ters came to a standstill and the com
pany has not been able to eXtricate
itself from the tangle in which ii has
become involved by the circum-
stances named and by some others
President J. b. Magee and his asso-
ciates in the company worked man
! fully to keep the plant going and
overcame many obstacles which
would have discouraged less de
termined men long ago. But they
were compelled finally to yield.
One report is that f. A. Smith who
is large stakeholder in the com
pany will be the purchaser of the
plant He could do more with it than
any other man or set of men because
he owns the ground over which the
material must be carried from the
river, also claims to own the bank
in the river from which the material
is taken and is in a position. as
president of the Cairo & Thabes Co.
to adjust things satisfactorily in the
matter of the big contract which the
Dredging Co., has with the railroad
company and which remains UNI
fulfilled, Put perhaps most import
ant of all, is Mr.. Smiths scheme re-
garding the large tract of grouod he
owns on the west side Of the city, IN
volving the building of a levee to en-
close this ground. probably the filling
up of large section of this groun
to a grade above high water. Al
these circumstances would make the
dredging plant profitable establish.
ment for Mr.. Smith.
The citizens who are in the com
pany take a cheerful view of the sit
uation. Although they are out good
bit of money they feel that they have
done something for Cairo. in estab
fishing the plant. and they hope to
see it put in good order and accom- |
plish the work for which it was - |
tablished.