Arizona republican., 1910-03-09
REVIVAL OF BUCKEYE
 RAILWAY PROJECT
PROFFEREo PLAN FOR ITS iM-
 MEDIATE CONSTRUCTION.
If Conditions Are Met Trains Are to
 Be in Operation By July l, 1910.

Contingent on meeting certain con ] ditions within ten days that he be- i lieves will be easily complied with i l.. H. Landis announces that the | Phoenix X Buckeye railroad will be 1 constructed and in operation as far as the Hassayampa river, which is beyond the Buckeye settlement. by the first day of July. 1910. or to he exact, | in three months and twenty-two days. : The conditions are that when this ! railroad project was undertaken about
 q year ago the greater part of the | right of way was secured and .: part ! Of the bonus necessary for its coz : structiOn was raised. Of the latter ' about S25,000 is still available. and the | right of way concessions are still in ! force. The completion ot the right ! Of way and the adding of $2J. 900 to the present bonus, mahin" a total of x50 GOO. within the next ten days, are the conditions demanded by the com pany to insure construction. and in
 soliciting these fIvors the company agrees to perform the construction in the time mentioned. otherwise the bO- : nus subscriptions will not become ef- fective. The money is not to he paid
 until the locomotive is seen coming
 around the bend
 The Buckeye Railroad company is composed of the following gentlemen
 as officers and directors: George NJ. Hahn. president; I. T. Hosey. vice president; :. J. Nicholson, secretary; Sidney Goldman. treasurer: L. IT i.andfs. general manager. These gen. ~tlemen. with Carl Hayden. comprise Ihc board Of directors. and George -l'urdy Bullard is the general attorney .1t will he recalled that the initial ef- -ort for the construction Of this rail Toad failed because the required bonus could not bc raised in time for con tstruction tn begin before the cXuir.i ti"n' of tn" tax exemption under which it was planned to operate. and with out the bonus the financing "f tho pr"iect could not be quickly done liver since that tim" those interested have been engaged in efforts tol finance the enterprise
 General Manager I.andis yesterday
 appeared before fhr board "f direct DTS Of the board nI trad" at I special meeting ana ann"un,..l th. nrrYosi- -s fxplanation he said that through ihe agency of N. F. Raymond of Lo+ Nn- felss fhr firm of Porter. fisLh..,l, X C". "f Ghi"aG" had ..s~..t C." than,. th" company al "ii'~, in fat, li.t. ih, money for ""nsirn'tl"iI rr.l ! y. hut t!' company. of ',"Hrs.-. has t" meet .-r- tain obligations ih thc .malIrr which ! it. cannot do except with the assnr- anoe of th. bonus which must h. raised in t,n days in order tn begin l construction in lime (" c"nii.l,t. it (. inc ll:sslyauil.a river ny Juiy ]. Mr. i i..udiS asked Inc board nf trade L" appoint a committee on right of WaA and another on bonus to secure th. 1 earliest possible action in the prem is,s. Granting the request the fol lowing committees were appointed:
 Right of Way-Charles Goldman. N. II. Nall. II. M. Lewis. Neri osborn
 Bonus-E.liiot Evans. C. F. King. Sid Henry, Vernon Cook. IT, F. King.
 Harry Kay, James :. Day. II. | I.a- tham.
 Speaking further. AIr. Landis as- sured the board that the construction proposed win be Of G. pound rails. suitable for through line traffic. with the idea in mind that sometime the road may be wanted as d part of somebody's transcontinentai line. Suh- seluent to the meeting Mir LandiS was asked direct if the railroad were d Southern Pacific project. and he answered emphatically that it is not. that il is to be financed as indicated and for the benefit of the company ! named above, entirely independent Oi any great railroad system IT. how eyer, said Mir. I.andis. the Southern Pacific or any other big railroad com pany should want the line after it is constructed. and is willing to pay the price that may be asked for it. it could undoubtedly be bought The ! promoters. however are acting on ! their own judgment. he said, and be- ! ieye it to be q good business enter | prise V Their engineer reports that 1 undoubtedly there will be deficiency | in, the first year of its operation, but l thereafter it is believed the property ! will be dividend producing or at least ! will carry itself The S50.00O bonus is ' asked for solely to give the company ! attreasury reserve with which to meet I the interest on bonds during the first 1 year. and to defray any possible items | of construction expense that might | not be covered by the financing of | Nessrs. Porter. Fishback .& Co.
 One other item beside the interest | on the bonds is especially in mind i and that is takes. The exemption i privilege has expired, and the road l W'iH have to pay taxes from the be-
 ginning. But even with that item. it 1 is believed the property will be self 1 sustaining after the first year. for it
 will penetrate q rich agricultural sec
 tiOn which it is conceived will raDidIV |