Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-07-10
IOWA RAILROAD CAPITALISTS
SEEKING LOCAL FRANCHISE,
BUY PUBLIC UTILITIES.
HERE TODAY TO SEE
MAYOR AND COUNCIL
General Scheme 81 Railroad Would In.
clude This city-Boone Council
Agrees AS to Rates With New Own
ers, and Special Election is Called
For Aug 16.-No Tax Wanted Here.

Boone, OF the Boone Electric Railway
and Light Company, the Boone Subur-
ban railway and the central heating
plant TO group of eastern capital
lists, composing the Iowa Light and
Traction Company, and the negotia-
tons of satisfactory franchises with
the Boone city council, marks the be-
ginning of an interurban construction
which promises to exceed in magnitude
anything heretofore attempted in Iowa,
and carry with it unusual interest to
| the towns of Marshalltown, Grundy
Center, Waterloo Eldora, Ames and
Des Mones, which are to be included
| in the enterprise.
The same people Interested in the
| deal at Boone are in this city today in
conference with the mayor and men,
bers of the city council, regarding
franchises necessary in negotiating the
purchase of the LOCAL street railway,
electric light and gas plants, to be In
| corporated in their general scheme of
railroad.
At Boone the properties were pur-
chased by Messrs. E. E. Hughes and
! j. Fl. Mcbride, eastern capitalists, as
ISOLATED with Mr.. Andrew Stevenson
of Chicago. Stevenson represents
group of capitalists now attempting
the building of an interurban road
from Waterloo toward Des Moines, via
Grundy Center and Eldora under the
corporate name of the Iowa railroad.
I This corporation has secured rights
of-way and franchises from Waterloo
10 Eldora, inclusive and now has the
work under way of securing right-of-
way from Grundy Center to MARSHALL
town.
Mr.. H. s. Osborne and H. s. Steven
son. of Chicago; James F. Hardin, of
Eldora. and E. f. Hughes and j. H
Mcbride were elected directors of the
1 Iowa Light and Traction Company of
/ Boone. They are all identified with
/ the Iowa railroad Osborne was elect
cd chairman of the board; Hughes,
+ treasurer; Mcbride. vice president, and
Hardin, secretary.
Agrees AS to Rates.
The city council of Boone has come
10 an agreement with these gentlemen
regarding various franchises covering
| a period of twenty-five years, and
guaranteeing to the people of Boone
| electric light rates on a sliding scale
| from IS cents TO cents. and power
rates on sliding scale from 9 cents to
8 cents A special election for Aug.
Is has been ordered, at which time the
voters viii be asked to ratify the vari-
our franchises as agreed upon by the
city council
Interview Mayor and Council.
MeSsrs. Osborne. stevenson and Nc
Bride accompanied by Mr.. j. W. ellis
of Chicago. their right-o man
arrived in Marshalltown today to in
terview the mayor and our city council
regarding terms for franchises in case
they should purchase the local stree
railway, electric light and power anG
gas plants, for the purpose of incor.
porating the Marshalltown. utilities in,
to their general interurban scheme.
the mayor and city council succeed
in agreeing with these gentlemen upo1
franchises. and consequently upo,
rates the Retail Merchants Associa
,, ton will be called into session to dis
cuss the matter and get behind
movement for interurban buildin
which comes backed by men possessing
real money At present it up to tn
mayor and city council.
Will Ask No Tax Aid.
However, General Manager Steven
son said today to a Times Republical
representative that he was fairly vel
Informed as to conditions and publ
sentiment in Marshalltown. and wa
prepared to meet the people here OF
every reasonable request that coul
possibly be consistent with successful
financing and perfect management il
the future. Especially would he EN-
phasze the fact that the plans con
templated extraordinary extension, i'm
provennent and Development of tn
present gas and electric plant an
street railway. Independently and re
CARELESS of possible interurban con
struction. and he stated that his peopl
would not ask for any tax aid.