Evening Republican, Volume 14, Number 36, Rensselaer, Jasper County, 11 February 1910 — FIRST BONDS SOLD FOR INTERURBAN LINE. [ARTICLE]

FIRST BONDS SOLD FOR INTERURBAN LINE.

One Chicago Party Took $50,000 Worth Indianapolis Bankers Also Liberal Subscribers—Will We Get Road! The first $300,000 issue of first mortgage 5 per cent gold bonds of the Indiana Northwestern Traction Co. were placed on sale yesterday for the first time. For yesterday only the bonds were offered at 85 in/denominations of SSOO and SI,OOO. With each SSOO bond sold yesterday one share of stock, par value SIOO, was given as a bonus. The bonds are dated January 1, 1910, and are due January 1, 1940, interest payable semi-annually in January and July. Both principal and interest are payable at the Western Trust & Savings Bank, Chicago, trustee for the bonds. Thursday was the only day on which the bonds could be purchased at 85, and hereafter the bonds will be sold at par and no stock bonus will be given. The first day’s subscriptions were quite flattering. One party alone in Chicago subscribed for $50,000 worth of bonds. At Monticello the bankers were liberal subscribers and in Indianapolis about $60,000 worth were disposed of to the banks. There were a number of subscribers for smaller amounts. The Lake county commissioners, granted a franchise to the company Monday and it is probable that a branch line will be built to Crown Point. There is but little doubt that construction on the line will "begin at an early date on one of two routes, as the contract has already been let to the LaSalle Supply & Construction Co., of Chicago. An election will be held in White county next week to vote on the proposition''of a bonus to the road and there is a great deal of interest there as to the outcome. Carpenter township, this county, recently voted aid to the Infield road to the constitutional limit, so it will be impossible to hold an election there in favor of the Indiana Northwestern Traction Co., at least for r 3ar. In Marion township there is u question whether an election can be held for some time. Over two years ago a bonus was voted here for the Infield road and just before the two years expired the tax was placed on the duplicate, although no work had been done on the road. The promoters claim that this will extend the time for another two years. If this is so, no election in favor of another road can be held for some time. It is doubtful, hbwever, if this bonus could now be collected even if the Infield road should be built. When the Northwestern Traction Co. was organized the company proposed to build a direct line from Hammond to Logansport and Lafayette by way of Monticello. Through the efforts of G. W. Goff, of Rensselaer, one of the Incorporators, the line was changed so as to parallel the Monon to Rensselaer, taking in the towns of Shelby, Thayer, Roselawn, Fair Oaks, Parr, Surrey,, Rensselaer, Remington and Wolcott. This route is twelve miles longer than the original route and may cut considerable figure in determining upon a definite route. By cutting out Remington and Wolcott and building direct from Rensselaer to Monticello ten miles could be saved, although this matter has never been brought before the promoters of the road. The Commercial Club will at once confer with the directors of the road and If the road is not built on this line it will be no fault of the club. There is but little doubt that an election in favor of the road would carry in Marion township if one could be held. An election would also probably carry in Union township. , Tremendous sacrifice bn broken lots of men’s, women’s and children’s shoes. If I have your size you get a good shoe for a little money. It will pay to -see-these.. , < Fendig’s Xclusive Shoe Store, Opera House Block. The admission to the Yewell lecture, “By Day and By Night in Parts” will be only 25 cents. Thursday evening, Feb. 17th, at the Christian church. Two hundred views of Paris made during his recent visit there. A lecture well worth your hearing.