Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1912-11-27
Report Of the Clara City 1usinsss Mems
z.-a,-, Committee. -.

Messrs. D. Grashuis, NJ. s. Carl and G.
Berghuis were appointed by the busi-
ness men of Clara City to investigate the
proposed electric line project, and made
the following report which we clip from
the Clara City Herald: E.
I'VE the undersigned. selected by you
to investigate, the standing Of the Elec-
trio Short Line Railway Company and
the promoters thereof, respectfully sub
NIT the following report
1--WE went to Minneapolis ON the 18th.
inst. and spent the entire day in looking
over the work already accomplished by
the Company, in Investigating it's pres
emit financial standing and interviewing
leading business men and bankers in re.
gard to the standing and reputation of
the promoters. We believe that the in
formation hereinafter given to be sub
stantially correct:
1.-THE principal promoters of the Com
pany are w. L. and E. D. Luce. These
parties have lived in Minneapolis for a
number Of years, own a very large am
cunt Of valuable business property and
have an excellent reputation In every
way We are informed that they are not
derstood. but are investors, and that any
statements that they might make to us
could be absolutely relied upon.
For some years these parties have
been quietly securing q Right Of Way
from the heart of the City to the City
limits-a distance of about three miles
Ito be used by interurban lines in en-
tering the City. They have invested
about 100000 in this Right Of Way.
The project has now been incorporated
and a contract let to do the grading and
lay the rails. This contract provides
for the payment Of an additional $780,
900 and the work is to be completed by
January 1st, 1913. Work is now being
done in the way Of grading on this con-
tract.
THE Electric Short Line Railway
Company has been incorporated for the
purpose of building an electric road from
the City limits in a westerly direction
to Watertown, S. Oak. Several miles of
grading have already been done and
about eight miles Of rail laid. A Right
of Way has been bought for a consider
able distance. The Luces' have invested
$331,00O in this Company to date. and
have sold about $125,000 in stock, prin-
cipally to Minneapolis business men.
They estimate that it will take about
100000 more to complete the road to
Watertown, MIMI, a distance of about
rs miles. This amount of stock they are
now offering to the people along the
Right of Way When the road has been
completed to this place they promise to
bond the road for a sufficient amount to
complete it to Watertown, S. Oak. In
order to raise this money they have
agreed to put up as additional security
the property owned by the terminal
company referred to, and valued at
about $1,000,0O0. We are Informed by
a leading Minneapolis banker that with
this security they should have no diff
ficulty in selling the required bonds.
THE Electric Short Line Railway has
entered into a written agreement with
the terminal Company to enter the City
on terms which we believe very rea-
sonable. The contract is a perpetual con-
tract and provides that the charges per
car can never be increased. The Dan
Patch Company has made a contract on
the same terms, excepting that they are
required to pay somewhat higher min
imum charge.
1--WE believe that the project is entire
ly feasible and that the affairs of the
Company are being honestly adminis-
tered. The Luces have pledged us their
word that all stock will be sold for ex-
actly the same price, including any
stock taken by them, and that there will
not at any time be any promotion or
"watered" stock issued"