Cresco plain dealer. (Cresco, Howard County, Iowa) 1913-1945, 1914-01-30
ADDRESS R

q 1t sometimes happens in matters Of
a semi-public nature with many
jealous workers that matters be.
come a little mixed and wrong i'm.
Ipressions are created. It is my du-
ty to correct one such impression,
I. which has gained currency. a few
days ago very informally, "a little
bunch OF Charles City boosters drove
to Elma and Cresco to catch the feel
ing of those interested and arran e
for. this meeting for the presenta-
ton of this subject. What was my
surprise to pick up our paper the
next evening and read that our
road had presented Propositions and
entered into sundry and various
agreements whereby we guaranteed
to build the road to Cresco reQuir-
ing only that a tax be voted We
are sorry that we must correct such
impression, but railroads are not
built so easily, and promises can
not be so lightly made. Knowing,
as we do. the temper OF the people
of Howard county. We know that
they did not expect an easy task.
We know that they are Keen enou gh
and far sighted enough to see that
the development OF this road means
much for them and we feel certain
that the conditions to be met swill,
in such hands, be readily accom-
plished. Y3S &.
In the first place the securing
OF right Of way is matter Of
great Importance. Many railroad
has become blocked or has turned
aside to other territory because Of
right OF way difficulties. II this
problem Is to be solevd. we must
have little obstruction and strong
local help; and support.
Secondly, q district through How
ard county must be laid out five
miles On either !. de Of the proposed
line, or possibly two districts y one
for Elma and ito surrounding coun-
try, the other for Cresco and its
territory. as seems advisable. We.
have not at hand your taxable val
uation but would Judge roughly
that this will raise about S I25,000.
In addition to this there would
have to be- subscribed through How
ard county or outside Of Floyd coun
u q minimum Of $125,000 e of our
6, per cent cumulative perferreds
stock, which subscription can be.
made contingent on the tax being
voted within said Howard county
district.
With this support assured. We be-
heve that only one other thing re-,
mains In the wa Of reasonable cer-
tainty that this line Twould be
built; that is, that the people Of
Floyd county provided, at least
100000 to help electrify and ex-
tend to the point. where advant-
ages can be taken Of the tax al
ready voted. Knowing the people i
Floyd county az / do, and after seer
ing our Commercial q b in action
the past several weeks, feel GER
tain that this will be accompl ished.
The train-load Of people who have
accompanied us here should give
you confidence and assurance of.the
way Floyd county people and the
Charles City Commercial club are
feeling toward the Western and its
extension. With such encourage
ment much can be accomplished
The road IN Floyd county will be !
about 81 miles, and it will require
in the neighborhood OF 81 miles
from the east line Of Floyd county
to Cresco. The entire cost of the
81 miles, including power houses,
will be in the neighborohood Of
1920, 900. OF this over $780, 900
is already invested and with the
tax and stock Floyd county people
will have temporarily and perm ~
nently provided over 5000 900 OF
the total.
II through tax and preferred
stock Howard county people will
provide at least $25O,O0O here
seems reasonable certainty that the
balance Of the funds can be easily
secured. NJ.
In accordance with the terms oil
our preferred stock It must be CALI
ed il bonds are issued. According-I
ly it IS more than likely that
the investment in this preferred
will only be temporary means Of
financing, and upon bonding those
who have taken preferred stock
will have the choice OF taking
bonds in lieu thereof of drawing
out their money as they see f.. In
view OF this the preferred