The Ordway new era., 1922-03-17
Proposed d Railroad
Creates Comment

many saws. "tor the purpose nt,a y.
;ny n fund for preliminary ors No
,ie, surveys and field woth.
.,,,,,sv ~ the exact route OF 'he
I'D road mas yet been made as Ia,
hs learned; altho one iarnv.
stated he had seen blue pr'n. ,nom
indicated the route Woulu y. an
Falcon 10 Ordway. Ho"e'c
other report has ii that the route 70
ha from Colorado Springs 10 VI u"".
whila still another is that cana" !"
Ordway is correct. oro
In addition to the flye-cents-an-aoi
bonus. the land owner VINO sis"a
contract also agrees TO pay the I'm
nany 81 for each acre he owns wl'hii,
10 miles of either side OF the proposeu
,onte This sum, according TO the
.ontr,ct is 10 te evidenced and Sc
cured b. . mortgage upon the i'nu'
| 25 per cent OF the amount 10 Do wv
danccd rs a ContTtct note payapie "
tho ordp. If the financing company
/ bnt not dpe and l.9".ble until the ram
1 road sh.Ii have ;een completed 10
ihe point cf layirg the rails thereon
or until total subscription OF Sooo'-
| OOO 90. or more shall have been Sc
cured and deposited. The contract
note. states the contract, shall pro-
vide for rs per cent OF said amount
/ to be due and payable twelve months
! after the rails upon the proposed ran
road have been laid, This la'ter
! amount is to draw interest OF per
cent per annum from the date OF lay
ing the rails, payable at the office OF
the payee, at Denver Colorado.
The mortgage and contract note
are TO be deposited with the Inter
State Trust company of Denver, to be
held by it as trustee, and To be used ny
the Financing company and for the
\ benefit OF said railway company
strictly under the terms and condi'
! tions OF this agreement, it being I'M
I derstood that as soon as said road
shall have been completed to the
point of laying the rails, or as soon
as said S600,000.00 shall have been
! subscribed for the purpose of con.
structing the same, then said mort
gage and notes hereby agreed to bt
this day executed may be used for the
purpose OF constructing said road"
The farmers also agree, by signing
the contract. to give the company ;
strip OF land 100 feet in width to bt
used as right-of-way for the rail
road The contract states that ;
committee OF not more than thre,
persons shall be selected by the com
pany from among the subscribers an,
land owners. who shall be entitled L
assist and advise with the cOmpan,
touching the possession and negOti
alton of said securities and the use o
and expenditure of the funds real
lied therefrom. Any surplus money
which may be realized under con
tracts will be paid back to the sub
/. Scribers, prorated among them 4
their interests may appear. the con
tract states.
Some features OF the contract ar
not desirable to the land owner, i
the opinion OF some well-informe
person with whom the Democrat rel
resentative has conferred And littl
: IS known here OF the people benin
the entire proposition.
!. That many OF the famers 10 tn
o east want a railroad and want IL baC
ly, there can be no doubt. b,
whether this present proposition
what they want is another matte
me opinion expressed on many sid.
J. Is that farmers who contemplate sigl
}. ing contracts should wait until II
entire affair has been thoroly invest
gated.