Daily capital journal. (Salem, Oregon) 1903-1919, 1910-06-30
CLARK TELLS ABOUT
coos BAY RAILROAD.
Says Only Drawback Now is in the
Local Situation on Coos Bay.

Says Only Drawback Now is in the
Local Situation on Coos Bay.
Marshfield Times: Francis H.
| Clarke, president of the Coos Bay,
Oregon and Idaho Railroad Com
pany, who returned from Portland
Thursday evening, stated to repre-
sentative of the Times today that he
had no doubt the road which he is
connected with will be built when the
| local situation has been adjusted 10
the satisfaction of the roads back
ers.
II do not think any road will be
built into this locality until our line
is under construction. For this rea-
son everybody should be ready to do
what is possible for our project. The
subsidy proposed to offset the cost of
terminals and rights of way costs
nothing unless the road is built, and
then the road provides, by adding TO
all values, the resources to pay it
not be exposed. The men on the Bay
who have wide experience are not
asking that we expose our plans, but
we are often assailed by men who
have little experience, because we
cannot tell them who backs us, just
what are we going to do, and when
we are pOinp to do ~ n,t eovy mould
consider any statement we might
make credible, because to state our
plans would result in prices being
raised on all we need. But we have
made our survey, located our line
permanently, prepared our profile
and collected our data. These have
been placed in the hands of men who
originally proposed this project.
They are well satisfied and will do
their work without any blare Of
trumpets or advertising. The wish
on the part of Coos Bay people to
know whether we are succeeding in
the flotation of bonds is a natural
one. The answer is that we have
never been in the market to float
bonds We have never been called
upon to finance the main proposition.
The only difficulties we have encoun-
tered were in financing the survey
and obtaining hold on the local sit
uation. But we have now financed
the survey, and when the other local
difficulties are overcome, we think
the movement will begin.
"Of course, we have enemies. Ger
tain large interests are adverse to
opening Coos Bay to the use of the
interior. Now and then men on Coos
Bay unwittingly act as agents for
those interests. l have heard that a
certain trust company in New York
wrote to a party here that we had
failed to finance our road. We never
tried and that trust company sent
that letter only to make our work on
Coos Bay difficult. have been
asked If the present slowness of the
money market would affect us. To
that l answer that this is not new
proposition. II 1t were 1t might have
to go over, but 1t was planned by the
men who take the whole bond issue
and financing has not been stopped
on any but new projects and recon
struotion or improvement work.
"The line of our road is unusually |
productive of tonnage. One of its
remarkable features is that on a very
low basis of valuation the tract |
through the center of which the line
is located is assessed at $4,000 per
mile for taxation. It contains vast
wealth and the road. when complet-
ed, will pay operating expenses and
fixed charges the first year. The
showing has been very satisfactory
and We have not scored a single fail
ure yet But we decline to take OPP
posing interests into our confidence
or to invite defeat by explaining
what We intend 10 do. The intelli-
gent people OF Coos Bay will not ask
us TO and will be satisfied 10 have
the road built "--Roseburg Review.