Rensselaer Journal, Volume 11, Number 2, Rensselaer, Jasper County, 20 June 1901 — Offers $2,500,000 for Franchises. [ARTICLE]

Offers $2,500,000 for Franchises.

John Wanamaker is willing to pay Philadelphia >2,500,000 for the street railway franchises conferred by the ordinances passed ,by the Select and Common Councils on Wednesday and wnich only await the approval of Mayor Ashbridge to insure the favored incorporators of the new street railway companies the right to occupy several hundred miles of city streets without any return to the municipality. Mr. Wanamaker’s offer was made to Mayor Ashbridge Thursday after he had deposited >250,000 with the Real Estate Trust company as an earnest of the proposition. The ex-postmaster general’s letter containing the offer was handed to the mayor at the conclusion of the ceremonies at the new United States mint Thursday afternoon.