Evening Republican, Volume 14, Number 141, Rensselaer, Jasper County, 14 June 1910 — TRUST DEED EXECUTED BY THE PROPOSED INTERURBAN. [ARTICLE]

TRUST DEED EXECUTED BY THE PROPOSED INTERURBAN.

Northwestern Indiana Traction Company Files Trust Deed to Western Trust and Savings Bank. The Northwestern Indiana Traction Company, which proposes to build an Interurban through Jasper county, has had recorded in Jasper, Lake, Newton, White, Tippecanoe and Qass counties a trust deed for $7,000,000 in favor of the Western Trust and Savings Bank of Chicago, which institution will handle the money derived from the sale of bonds and other sources until the road is completed. This deed is given for the purpose of protecting creditors of the road and to guarantee that the money derived from the sale of bonds will not be misapplied. Developements from time to time indicate that the promoters of this road are in earnest. They are quietly at work perfecting their plans, of which but few are made public. Last week the company received their franchise in Hammond. Before it Vas granted by the city council, the company had to put up a guarantee of SI,OOO in cash that work would be commenced inside of thirty days, and a bond of SIO,OOO that the road would be completed as far south as Dyer in twelve months. Chief Engineer J. W. Fewell and his corps of men commenced work Monday on the survey in Lake county, and the offices of the-LaSalle Construction Company, which has the contract for the construction of the road, will be moved from Chicago to Hammond. The people of that city are quite enthusiastic over the proposition and are subscribing liberally for the bonds of the road. Last week the grade stakes and tools of the surveying crew, which had been stored here since the defeat of the subsidy election in White county last winter, were shipped to Hammond to be used in the work there and the surveyors will proceed south from that point.