The Montgomery tribune., 1910-04-29
THE ELECTRIC RAILWAY
The Officials OF the St. Louis-Kansa
City Ry. Have Decided to come
Through This City.
A BIG HELP TO MONTGOMERY
The Good Will And Support Of The
People is Asked. The Company
Would Like to Sell Some
Preferred Stock.

President d: c. Nevins of the
Kansas City-St. Louis Electric Rail-
road Co, with Judge Johnson, the
treasurer OF the company, and
Mr.. Mahin, the right Of way man,
was in Montgomery Tuesday and
addressed a meeting of the bus
mess men in H. w. Johnson's Of
flee that afternoon, explaining in
detail the. plans of the Company
and the methods employed in fl
nancing the road.
He said it had been definitely
decided to come through Mons-
gomery ii the people do not put
obstacles in the way to make il
prohibitory. The Company would
esk for franchise through the
city free of cost and would ask
the hearty cooperation OF all
citizens and of all farmers along
/ the right of way.
! The Company is also desirous OF
/ selling preferred stock in Mont-
\ gomery county and all the other
counties on the line to the amount
OF $4,000 per mile. There will be
about 25 miles OF the road through
Mont tgomery county.
There will be about $2,000,000
worth of this preferred stock sold
along the right OF way, in order,
as the Judge explained, to bring
a good price for the $i5,o0o,00o
worth of bonds which will be
floated to finance the road. With
! the bonds selling at par, an inn
mense saving will =, .sajum-
| mated.
The preferred stock will draw
Z per cent interest per annum, the
| Company reserving the right, how
ever, to take up this stock after
three years by paying the holders
4 SIS more per share than it cost
| them, besides all interest and div
idends thas may have accrued.
The contract for subscription OF
stock reads as follows:
awe, the undersigned citizens of
Montgomery county, Mo, in con-
4 sideration of the st Louis-Kan-
. sas City Electric Railway Com
pany building it's main line of road
through Montgomery county and
locating one of its depots within
the corporate limits of Montgom-
cry City, hereby subscribe for the
amount of Preferred Stock set OPP
posite our respective names, and
agree to pay to said Company the
par value thereof, to-wit: One
Hundred Dollars ($100) per share,
Said Preferred Stock to be part
of the Two Million Dollar 7 per
cent cumulative Preferred Stock
issue now offered by The Company
It is understood and agreed thai
said stock PARTICIPATES wi. n the
the Common Sto=k in all dividends
, declared by the Board of Direct
ors of said Railway Company af-
ter paying the 7 per cent per an
mum, and that the said Railway
Company has the right to redeem
said stock after three years al
S105 per share. 1t is also agreed
that the owners and holders o.
said stock have right to ex-
change the same at any time foi
first mortgage per cent, Interest
bearing bonds, issued by said Com
pany on the following basis: tht
stock to be valued at $105 and ths
!. bonds at par.
ssIt is further agreed, however
} that in order to secure the build
ing of said railway through Mont.
gomery county along the hn'
above indicated that the citizens
of Montgomery county are to sub
I scribe for sufficient stock to pro
{ vide fund equal 20 5000 per mill
: for the full length of said T..ail
line crossing said county; and t
procure for said Railway Compa
ny franchises through the munici
pal corporation or town abov,
mentioned; and to furnish sail
Company with the right OF wa,
through said town; the location
OF which are to be agreed upol
by the officials OF said town an
the officials of said Railway Com
pany; together with sufficien
ground Tor stations and side
: tracka; and upon said terms w
{ agree to pay the amount OF GU
/, respective subscriptions to a ban
. in Montgomery City to be select
!. ed by the subscribers hereof, tn
same to be held in escrow by sal
bank, and to be paid to said Rail
way Company in the followin
manner, tc-wit:
"One-half the amount snbscribe
: when the grade is complete
through Montgomery county, an
7 the remaining one-half when th
track Is laid. ready to run car
thereon through Montgomer
county.
2 ut Y further understood an