The Greeley tribune., 1911-03-16
GEORGE PECK AGAIN TALKS
OF ELECTRIC LINE IN WELD

ten million capital required, this Sec
ton OF the state will lpe circle<i with
rapid transit interurban electric
line similar to those that have
served to treble the population Of
the country surrounding Los Ange-
les, indianapolis and other cities
where they have been placed in
operation.
This statement is authorized by
George Peck of Paris, who has been
in Greeley and vicinity for the past
two months compiling report on
the possibilities of such road with
the view OF placing in France the
entire bond issue of between nine
and ten million dollars. tt is the
has made concerning the proposed
line. He has made. a favorable re-
port to the banking interests with
whom he has been connected for
years and says that II the require
ments of the foreign bond buyers
are complied with by the people
here, he can place the entire issue at
once and secure the cash in bank as
rapidly as needed for the compile
ton of the entire system of $50
miles to start from Denver and tap
the rich agricultural section Of
northern Colorado.
Work Must Re Started
The bonds will be issued at the
rate of $4,000 per mile, but before
the money is forthcoming the first
unit of the road must be built. This
is required by the French bond buy
ers. With the end in view of build
ing the first section of the road. the
Denver. Greeley and Northwestern
Railroad company have issued
100000 in debenture certificates in
denomination of 800 each with in
terest at 8 per cent per annum for
three years under date OF April 1,
1911. The company reserves the
right to redeem the debentures at
any time prior to maturity on pay
ment of the principal and interest
for the full current year, or they
will be exchanged for common stock
prior to their maturity.
The company already has spent
more than the full amount of the is-
sue in securing surveys, rights OF
ways, terminals and doing the pre-
liminary work to actual construc-
ton. The route is from Denver to
Greeley. around a loop to Pierce and
Ault, thence to Fort Collins, taking
in Windsor and Timnath, thence to
Loveland. Longmont, Boulder and
thence to Denver. A branch will also
be extended to Estes Park. which
probably will be made q government
park in the near future. The sale
of the debentures 10 for the first &C
tual construction work, after the
frst i've miles Of which are COM
pleted the frst payment from the
sale Of the bonds will be available.
Extensioa Of Tramway
The interurban railway will in
effect be an extension of the Denver
city tramway. for although the two
organizations are in no way con-
nected they will work in harmony
to extend quick and frequent ser
vice with low rates for passengers
and products around the horn" for
approximately $50 miles.
Mr.. Peck's report has brought out
some interesting comparisons OF
Denver and vicinity with Los An
! geles and Indianapolis. Of about
equal area and in population. Since
the interurban system was intro
duced in Los Angeles the territory
affected has increased from two to
three hundred per cent In popula-
tion and over 400 per cent in the
assessed valuation of all real prop
erty. The net earnings Of the inter
urban were sufficient to leave a
handsome surplus over ten per
cent common stock dividend. Siml-
lar conditions are shown in Indian
apolis. The report of the Denver
city tramway to the stockholders
shows that the gross earnings OF
191O were $3,6oO.000, giving a
dividend Of 13 per cent on the com
mon stock. The company paid to
the city Of Denver $4,000 in taxes,
nearly a third of the total taxes col
lected.
In the United States today there
are $4,000 miles of tracks for in
terurbans operating $4,000 cars,
The development Of the interurban
service has been one OF the most
marvellous of the age. as there was
not a line in operation 25 years ago
Now the lines operating in the Unit
ed States alone carry annually an
aggregate number OF. people eaual
to seven times the total population
Of the world.
In speaking of the proposed road
for northern Colorado Mr.. Peck
said:
MFR. Peck Talks
"The sale of these debenture GER
l 4 4 L. ls.. ,lf