New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1911-12-16
SITUATION OF THE TROLLEY
SYSTEM.


Trolley line, connecting this City
with Jeanerette looks very bright,
which the letter reproduced be-
low will lead one to believe. The
gentlemen whose names are at
tached to the letter are all busl-
ness men of New Orleans of high
financial standing and there is not
the least doubt about their sin
certify in building the line at pres
ent, and all Iberians who know
the standing of these gentlemen
feel more than sanguine that the
project is assured. 1t will be
noted that they are DESTROYS OF
placing $4,000 Of preferred
stock in this community, which
is right and proper under the cir
cumstances, when taken into con-
sideration the vast capital that
it will take to build a system of
that kind. In asking for sub
scription Of the above amount.
subscribed by property holders
along the proposed route it is
from our observation more to have
the good will of the community in
the future than it is the pecuniary
aid of the citizens. An invest
ment of that large sum in New
Iberia, solely by outside cap
italists, without the aid and pro-
lection of local investors, working
for success Of the enterprise af-
ter it is put into operation as ex-
perience has proven elsewhere in
many Instances, detrimental to
the investors. the gentlemen
are correct in insisting that a few
local people interest themselves
80 as to have the good will Of the
community at all times and not
to be at the mercy of City adj
ministrations who might be in
clined to antagonize them in the
operation of the road:
New Orleans, Dec. 8, III.
To the Citizens Of New Iberia and
.Jeanerette, La.
Gentlemen-Referring to the in
terviews between you and the
gentlemen composing The South
western Traction and Power Com
pany, held in New Iberia on the
5th and 9th instant, we have
stated to you that in order to car
ry out the plan for the censtruc-
ton of a Trolley System from
Jeanerette to New Iberia in the
best possible manner, it will be
to raise in addition to
the $171, 1000 which has already
been raised and which amount in
cludes the subscriptions already
obtained to the Preferred Stock,
an additional, sum of Twenty
Thousand, ($2O,0OO), Dollars
from the sale of six per cent Pre-
ferred Stock. AS the incorpora-
tors of this Company have invest
ed as much in it it as they feel
justified in doing, and as the CO.
operation of the citizens of your
two cities and the people living
along the line is desirable and
necessary to it's future success,
we are calling upon them through
you to subscribe to Twenty Thou
sand. ($20,O0O), Dollars addition
lily of the Preferred Stock of the
Company, payable as outlined in
The subscription list attached
hereto.
The Southwestern Traction and
Power Company will guarantee
% complete the construction of
he road from Jeanerette to New
IBERIA within the time required by
he tax voted, provided they are
furnished promptly. within ten
lays hereof, with a valid and
binding subscription to Twenty
Thousand. ($20,OOO), Dollars of
additional Preferred Stock; the
James Of such subscribers to be
ubject to our approval as to their
bility to comply with the sub
cription which they may make.
With regard to the substitute
roposition made to our commit
ee, regarding the voting of an
dditional tax in lieu Of the ad-
itional subscription to the Pre-
erred Stock, we beg to advise
hat we find the voting of such
TX would be extremely unpopu-
IF and therefore this alternate
roposition would not be satisfac-
Try nor acceptable to us.
We wish to state, for your in
that we have carefully
Investigated the merits of this
and are convinced
lat the earnings Of the road will
nable it to pay the dividend
pom it's Preferred Stock. In evil
ence of our faith in the PROPOSE
ON, we offer the amount of mon
above referred to which we
I'VE raised toward its construc- ]
on.
Very truly yours,
JULES GODCHAUX,
A. LYMAN, Il
JOS. j. NEWMAN. ID
ABE BLUM, II
A. F. JACOBS. n
SOL WEXLER. II
1t will more than pay you for |
9 time to read our large adver- |
cement in this paper. Leon c
'eyfus hardware store. I
DvANTAGEs 70 BORROW.