The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1913-06-25
COMMITTEE AGREES
TO R|NCL|NG PLAN
BUSILY ENGAGED IN SEEING SUB.
SCRIBERS AND GETTING THEM
TO EXECUTE NEW NOTES.

theater yesterday afternoon to con-
sider Ringling's proposition relative
to the extension of time on his con-
tract was we'll attended, and 1t was
the general opinion of the donaters to
the bonus fund who were present
that they accept Mr.. Ringling's prop
csition and insure immediate con-
struction of 25 miles of the road as
proposed by him. J. b. Moore acted
as chairman and after stating the
proposition submitted by Mr.. Ring
ling, the contract was read and all
present who had contributed to the
bonus fund who were in favor Of &C
cepting the terms were asked to rise
and the vote in favor of the motion
was practically unanimous.
After the meeting Charles Won
execute new notes to meet at his of
flee and do so. A committee was Sc
ltCltu, anu Ihlo lhCy pNoi bSu
to see all the signers of the original
notes and get them to make the
change desired. The committee at
noon today reported that they were
meeting with success, the only diff
Guilty they encountered was in finding
the parties who had contributed to
the fund. ]. r. Pennington stated
that he anticipated that the new notes
would be signed before night and the
contract with Mr. Ringing entered
into.
In the event the contract cannot
be signed, Mr.. Ringing is prepared to
reimburse the bonus committee for
the amount they have have
been out in securing right
of way, etc, and withdraw from the
field; on the other hand, if the con-
tract is made he is ready to deposit
100000 in the local banks as guar
antee of good faith on his part, to be
forfeited in case he fails to comply
with his part of it and begin work at
once.
AS stated in steIjay's paper, in
the event the contract is signed by
tie committee and Mr.. Ringing today
he agrees to begin work on the road
Immediately and have completed and
in operation 25 miles of road west
ward from Ardmore by the first OF
the coming year, at which time the
tonus committee is to turn, over to
him half of the amount subscribed
when the road is completed to the
Rock Island he is to receive the bal
ance of the bonus, which he estimates
1915. By the terms of the contract
the general offices of the road arr
to be located in Ardmore and the
work of construction is to begin from
here. Mr.. Moore stated yesterday
that the immediate construction OF
the road meant a monthly payroll TO
the city of approximately 100000 per
month. Another stipulation in the
contract is that work shall be prose
cuted vigorously until the work was
reserving such rights as
are usually included in contracts Of
this kind, relative to strikes and 9th
er unavoidable delays. This practi
cally assures the subscribers to the
Bonus fund that the road will be built .
within the time specified
A great deal of work devolves up |
on the committee in getting new .
notes executed but they hope to have
he work done so that they can sign
up the contract tonight. Mr.. Ring
ing sta;eu that he was very anxious
% nave the work done as he has other
business engagements that
'equire his attention and he wants to
,et away as soon as possible.