Evening Republican, Volume 16, Number 142, Rensselaer, Jasper County, 13 June 1912 — PROSPECTS GOOD FOR BUILDING OF INTERURBAN. [ARTICLE]

PROSPECTS GOOD FOR BUILDING OF INTERURBAN.

Purtelle Has Signed Away Control And Capitalists Have Representative Looking Up itis Debts. H. J. Wilson, of Chicago, who was here several weeks ago with Eugene Purtelle investigating the latter’s Interurban proposition for Chicago and Indiana capitalists, arrived here again Wednesday to look up matters of the road. Mr. Wilson is a civil engineer and has been connected with the construction of several interurban and steam roads. He and another party constructed the four miles of grade of the Purtelle road in Lake county, for which they never received their pay- . The capitalists whom he represents are willing to undertake the building of the road if Purtelle’s debts are gotout of the way and Mr. Wilson is now engaged in looking up the claims, of which Purtelle has furnished him a list from memory and such data as he has at hand. They schedule $17,500 as far as reported. This includes bills for supplies, construction work, attorney’s fees, borrowed money, , overdrafts at banks, etc., and every town on the proposed line has its quota of creditors. The largest claims, however, are in Chicago. The plan is Ao have the creditors agree to place their claims in escrow with a trust company, to be paid later. All the creditors except two, in Rensselaer, who are now out of the city and cannot be seen, have agreed to this plan, and it is thought they will be willing to do sb. The matter of claims must be cleared up by July 15, the date set for beginning construction, if the matter goes through. The papers have already been signed by which Purtelle waives control of the company, and from now on he Is not to be considered in the affairs of the road at all, , except in the final adjustment he will be paid in cash whatever may be due him. The prospects now look excellent for the construction of the road and the next month will decide (he matter one way or the other, it is thought.