The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1909-05-12

The following is a statement issued
by the Yakima Valley Transportation
company which was printed. in the
evening paper of yesterday:
Statement BY Trustees.
1T is known by the stockholders Of
the company and is a matter of COM
mon public knowledge, that an ar
rangement was made and an option
given in December Of last year which
it was hoped by the board would re-
suit in the financing Of the company
and the building of considerab BILE
mileage of electric road during this
year. The option which was given for
that purpose has expired, without be-
ing exercised; and the proposition of
financing this enterprise Is now open
to anyone who is able to do so. The
board of trustees will be glad to en-
terrain any proposition which may be
offered by any stockholders or friends
of the road. In short, the field is
open and the board will welcome any,
one with the money to build the pro-
posed system of electric railroads.
Should Be Local Enterprise.
MANY local people and stockhold-
\ ers have expressed the hope that our
railroad could be built and owned as
home enterprise, and the board of
trustees would be glad to see it such ;
but, in order that it may remain as
such, it will be necessary that our
home people come forward and take
Stock or increase their present hold
ings. 1t is important that the lines
be extended this year in order to hold
valuable franchises which depend
upon the building of certain mileage
of road within given periods of time;
and unless the home people and pres
ent stockholders will increase their
stock holdings and thereby furnish
the necessary funds for such extern
sion, 1t may be necessary that the en-
tire system be taken over by outside
people who can furnish the money
necessary to protect these franchises"
Another Communication.
1t may be of interest to the public
to note that the following letter was
received by the Yakima Valley Trans
portation company early Tuesday
morning:
North Yakima, WASH,
May 10, 1909.
Board of Trustees of the Yakima
Valley Transportation Company.
Gentlemen: Referring to your re-
quest of April 20 for information as
to the identity of the gentleman quot
ed in an article in the Herald of that
date under the caption, "Why Has
Capital for the Transportation Com
pany Never Been Secured?" to the
effect that money could be had for the
undertaking, we beg to say that the
writer has interviewed the gentleman
in question with satisfactory results
He has given his promise to pay a
visit to North Yakima within a short
time, looking toward the opening of
negotiations If agreeable to both
sides.
This gentleman is making the final
arrangements for capital on a prop
osition similar to the electric line in
this valley. These final arrangements
are concerned with terminals, etc,
and he is anxious that the situation
be not jeopardized until the necessary
details have been arranged. 1t is ex-
pected that these details will have
been completed within a period of
from 80 to 60 days. Moreover they
are so occupying his attention that he
finds it impossible to leave immedi-
ately but promises to do so at any
early date.
To show our good faith we will give
you a general outline of the PROPOSE
ton which we believe must appeal to
you as business men and as the cred
tied trustees and representatives of
the stockholders in our home COM
pany and assure your, Furthermore,
that at the very earliest possible mo-
ment we will not only produce the
representative of the necessary capt.
tai but furnish the details of the deal
which has just been completed
through his fundamentally and which
may result in the solution of present
perplexing problems.
In a general way, it may be said
that the undertaking which this gen.
tleman is just completing involves the
expenditure of several millions of
dollars for the construction of rail-
road. The capital is furnished for
building the road by one of the most
responsible bonding houses in the
country and it is so considered by
such men as Jacob Furth and others