Jasper County Democrat, Volume 16, Number 97, Rensselaer, Jasper County, 7 March 1914 — T. S. ROBERTS RAISES BID [ARTICLE]

T. S. ROBERTS RAISES BID

Of Monon Railway Company $9,000 on Gifford Railroad. Judge Hanley, who had approved of the contract several days ago of the conditional sale of the Gifford railroad to the Monon railroad company, was put in a rather embarrassing position Thursday when T. S. Roberts, president of the Northwestern Tracton Co., presented a proposition to give $104,500 —$9,000 more than the Monon proposition—for the 3,001% shares of stock in the Gifford railroad owned by the Gifford estate, and for the $222,000 bond issue of said road; also $lO per share for the 498% shares of stock owned by others. Mr. Roberts filed with his proposition a check for SI,OOO. The proposition, of course, is for a clear title to all the property pertaining to said road. As it has been well known for a year or more that the road was on the market, it places the court in a rather embarassing position to have this latest offer come up after its approving the contract of sale to the Monon, and H. E. Kurrie, for the Monon, was to come to Rensselaer today and pay over the other $94,000, balance due on contract after deducting the SI,OOO forfeit put up.

The estate owes some SSO,OOO, it is understood, on which it is paying interest, and the road is running behind $20,000 per year. The closing up of the sale of the road at once for all cash will put the estate on “easy street,” so* to speak, and also get off its hands this white elephant.

Judge Hanley will probably go over the proposition of Mr. Roberts today, but unless about one-fourth of the amount is put up in cash on the latter proposition it is not likely to be considered, coming at this late hour. \