Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1910-08-05
Council, in Committee of Whole,
Hears Propositions to Keep
Union Electric Independent.
OFFER OF $4,000 MADE
officers of Company, However, Claim
to Be Skeptical-NOw Wait
ing on Chicago Man.

Of Chicago. AT the meeting last even
ing a letter from Mr.. Fisher TO Charles
F. White of this city was read, In
which Mr.. Fisher offered 100000 for
the plant of the company. 1t was ex-
pected that Mr.. Fisher would arrive
here in time for the meeting this morn
ing, but he was unable to make the
connections, and so the meeting was
adjourned till this evening at 1880,
Just previous to the postponed regu-
lar meeting, when Mr.. Fisher will be
heard.
John Looney repeated the offer he
made last night this morning, to de-
post a certified check for $4,000, pend
Ing an investigation of the property of
The plant by three engineers, one to
be chosen by himself, one by the COM
pany, and the other by the council.
George B. Sucker, representing the
company, declined to listen to the offer
Mr.. Sucker wanted Looney to offer
price for the plant and submit his
proposition in writing, but Looney re-
fused.
Mr. McCaskrin put an end to the
play of words when he stated that the
council wished all offers in writing, so
hat they would know where they stood.
Re said that he wanted this mat
% to be settled at once; not in 80
',ys or a year. He further stated that
onpetition was wanted between the
F.; 0 telephone companies and that bus
ess men would not pay for two
homes where there was no competi-
ton.
h
m:tted this morning, the meeting was
adjourned till 1880 this evening.
Council Hears Propositions.
At the adjourned meeting of the COM
mittee of the whole last evening propo-
sitions looking to the purchase of the
plant of the Union Electric company
by interests other than the Central
Union were heard and an adjournment
was taken till 10 o'clock this morning
Tor further inquiry along the same line.
Alderman McNealy's motion that this
subject be thrown open, which prevail
sd unanimously, started the ball roll
Ing. First to address the council was
L. w. Stanton of Cleveland, Ohio. a
telephone engineer and promoter, who
said he represented eastern capitalists
who had previously made overtures to
buy the local plant, but gave 1t up
some months ago under the impression
that the Central Union had already vir-
tually closed terms for its purchase.
Now, he said, if the plant were really
to be sold he believed that the men
whom he had represented were still
willing to close the deal, provided that
a satisfactory price could be fixed upon.
Mr.. Stanton said the phone trust was
Dne of the most insidious in existence,
for the reason that it stopped to so
many tricks to carry its points. He
declared the fate of the Union Electric
here was being held up to the world,
through well-oiled press bureau, as
a horrible example to those who were
contemplating investing money in in
dependent phone companies. So badly
has capital been scared by such means,
he said that not dollar can be OBJ
tanned in New York now for this form
of investment Naturally, he declared,
the independent interests with which
he was associated were anxious to re-
deem the Union Electric here and
make it a success, largely because this
Is an important center and is desired
as a connecting link between other in
dependent systems in this vicinity.
Prosper Elsewhere.
Mr. Stanton went into detail to show
that independent companies are pros
pering in other parts of the country
and that they have the effect of great |
ly reducing the expense of phone serv-
Ice wherever there is real competition.
He declared that there should be 10000 /
phones in the three cities, on which, /.
with competitive service, the subscrib !
ers should be saved some hundreds of
thousands annually.
President G. E. Sucker of the Union |
y Electric, who was present fatty denied /
that che plant has been sold to the /
Bell interests. Replying to the asser-
lion of Mr.. Stanton that he (Stucker) |
was more anxious to sell to the Bell |
people than to Independents. he said /
he was only DESTROYS of getting some /
real money. He added that he had ne
gotiated with various Independent in /
tereSts and that they had invariably /
/, failed to come to the scratch when it |
came TO putting up the cash. In view /
of the financial circumstances of the /
Union Electric money was most desir-
able The debts of the company now
amount to S250000, and there is some |
$4,000 worth of stock in the hands of |
widows and orphans back east, and he |
assured his hearers that if anybody |
could be found who would assume the |
debts and redeem the stock of those |
widows and orphans, not an instant |
would be lost by the officers in closing |
terms
No Local Capital Ready.
In answering the assertion of Mr.. |
Stanton that local capital was ready to |
enter the concern, he said he had can
vassed the three cities thoroughly and |
had found nobody who would invest a