Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1912-06-19

equal amount par value of the capital
stock of the company
By this method it cannot be said
that the people are GIVING anything
it being simply a subscription for
stock, and the municipality receiving
for its bonds exactly the same
character of stock as that issued to
individual shareholders in the COM
pany.
1t is but fair to say that the road
will pay; and if so, then after opera
ton of the line IS in progress there
should be some dividends on its stock /;
in that event, such earnings would
likely Offset the payments growing
due on the municipal bonds, and
the tax levy necessary TO meet such
payments might perhaps be obviated.
Neither the promoter or the COM
pany expect the people to vote aid to
this enterprise until the proposition
has been SO clearly set out that it is
fully understood, and we only ask as
the matter is submitted, that reason
ing from a purely business stand
point may prevail, keeping in mind
that GENERAL benefits to COM
munity is of paramount importance to
the units that compose it.
AS to the benefits that would follow
the building of this road too much
cannot be said: frequent local service,
giving needed outlet to a country
agriculturally rich, shortening the
mileage to and from the great market
of the middle north, having seven
connections with the already exist
ing lines of steam road, thus assur-
ing to its patrons not only competitive
transportation rates, but a material
lowering of the present tariffs on the
commodities Our proposition fur aid
DOES mean a cost to the taxpayer,
but not burdensome, merely nominal,
and if weighed against the certain
benefits to follow the building Of
the road, a favorable vote will be
had
The securing Of large capital neces-
sary to construct and equip this
proposed system is by no means an
easy task, although this feature is
simply that of working out business
problem, not intricate, but it must be
included in the list Of big bust
ness. We now have proper assur-
ance of the guaranty Of the COLI
pany's bond issue, lie, its legitimate
issue as finally determined by the
r. r. Commission of Wisconsin.
The guaranty herein referred to
is the determining factor IN the
matter of sale of the company S
securities, as it provides for payment
Of principal of the bond, even though
the railway company may have retired
from business before the maturity of
the paper; This leaves as security
for payment of interest the investment
of the principal of the bond itself
To those who may have an inclina-
rion to help in this undertaking | will
say, that I believe an investment in
shares of the capital stock of this
company does not mean more than the
ordinary risk assumed and involved
in ordinary every day business, and
with the road built and in operation,
even though the dividends should be
small, the general benefits resulting
to the community would repay many
times over the amount of the
individual subscription. 1t is our
opinion and belief that the railway
service as proposed is due this section
in order that it may keep pace with
its sister communities. already favor
ed with the facilities we propose here !;
With the building of this line there
would follow not only a quickening
of commercial activities, put it will
be conducive to better modes Of
living by perfecting interchange with
the great centers that are essential to
the development of our resources that
nature has so abundantly provided.
If these things as proposed by our
company can be obtained, and at a
nominal cost, why not help the move
ment? Very truly yours,
THOMAS MCDONALD.