Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1910-03-16
Marsf1a11tolUn Charles City Interurban
Icharls City Intelligencer.l

GCharls City Intelligencer.l
! There appeared in town this morn
ing one Harris, who pretended that
the people of Marshalltown had sent
him to negotiate with our people con-
corning ; railroad from MARSHALL
town TO our city. He sought q con-
ference with the officials of the C. C.
w. Railway Company and proceeded
to unfold to them his plan. So typical
is his scheme of graft in railroad build
ing that a description is worth read
ing.
He said it would require eighty-six
miles of road. He proposed a company
capitalized for s1,5N0o oo and a bond is
sue Of s1,075, 600 at per cent Even at
this rate il was asserted the bonds would
sell at only So and as further induce
me1t 80 per cent of the common stock
, would be given with the bonds. The
people along the wap would be required
to take 100000 of the stock for which
they would pay cash. Then s1,100,
coo of the stock would be disposed of.
Further inquiry showed the wise pro-
vision that 100000 of the stock would
stay in the treasury unissued. 1t took
considera BILE inquiry to find out where
the other 500. 600 of stock was going
but after much shuffling of a table full
J of papers and great glamour of figures
| it was CLEANED that there We're good
and sufficient reasons why construc-
tion companies needed gift of this
much of the stock after. of course, they
had been well paid for building the
! road out of the cash.
Just Stiff Hoid-up.
When it is known that bond
houses, promoters and construction
companies emanate from the SAINT
source, the brains OF distant city
grafters, a little thought will reveal
that the control of this line would be
in rather precarious hands as far as
the people putting UP the half mil
lion dollars were concerned. 1t Is
needless to say they would never
again see their money OF any return
from it in dividends.
a little more inquiry showed thai
accordin to this mans own highest
estimate the entire cost OF this line
would be not over s1.4oO,ooo why
then is it necessary to issue securi-
ties in the shape of stock and bonds
detailing s2.575.c 600? This shows dis
honesty on its face Tt is seen thai
I control goes with the water. accord
irgly the purpose is deeper than mere
watering OF stock and is to place tht
half million of cash that the people
nut up in the hands of these shysters
Incidentally they also get valuable
railroad and its profits forever
nice summer job for a few rascal:
whose services would be dear at any
price OF course they would not dirt!
their hands with the actual building
Of the line, even if they had the ability
Laws Are Too Strict Here.
Much indignation was expressed b.
Harris because Iowa laws interferet
with THIS kind Of railroad building
and it was explained that New Jerse.
was the state where legitimate cor
pora tons can be incorporated.
In due time a network of good rail
roads must be built in this region. I
is due to our people that they OWL
these roads and have them in contro
of local people, built at actual cost, ant
that the great profits derived from
them be distributed right here at home
The above typical process by which
nearly all our roads have been bull
and stolen from the people should 81
stopped.
The Charles City Western is a ven
ture on this last plan. 1t will SHOW
shs people &c . .::!s country &c easi!.
get the railroads they need. 1t vii
show them what splendid profits hon
est railroading will produce when the,
so invest 1t will also call a halt t.
the greatest graft of the age.
When Marshalltown or any othe
towns are ready to stop listening t.
such scoundrels and wish to take up ;
railroad on the right plan, we will NEE
| them more than half way.
This man Harris was quickly toll
what c. C. w. Ry. people thought o
his scheme, and he will do well to stee
clear of these parts.
c. w. HART.
GBy E. A. Harris.]
Editor Times
The scurrilous article in the Charlie
City Intelligencer Of March II demand
some reply. Not on my personal &C
count, but in the interest OF the in
terurban north from here. came her
; at the request OF certain working mem
beers Of the Marshalltown Club and wa
! asked to go at once to Charles City AM
have a conference with the protector
Of their proposed line to determin
whether we could make some arrange
ment that would be mutually benehods
10 beth projects. regret very muc'
the ungentlernanly reception given m
by Mr.. Hart, at Charles City, for
sappeared there with the highest recon-
mend0tions from the citizens OF. Mar
tshalltown and approached them wit