Rensselaer Semi-Weekly Republican, Volume 39, Number 82, Rensselaer, Jasper County, 18 June 1907 — What Another Railroad Means. [ARTICLE]

What Another Railroad Means.

And What Can Rensselaer and Jas= —County Afford to do to Secure It?

With the starting of au effort to sell stock for the Lafayette & Chicago Electric Railroad, a discus sion of the probable effect the con struction of the road would have on Rensselaer and Jasper county, is apropos, and we enter into it with the thoro conviction that the building of this road means so much for the welfare df the city and county, that it should call for an organized effort ou the part of •Rensselaer, Remington anffbT the north territory. When the first meeting was caled for this road some fifteen months ago it was largely attended and enlisted the attention and had promise of the support of many who could not find time to attend the meetings. Mr. Infield outlined iHs plans and rolled up his s’eeves for a hard job of work. He wanted above every other thing

the assurance of favor for the road, and he got it unanimously. He organized a company that with small assistance has made record time in surveying the route, having c >mprehensive pro files made of it, presented it to financiers and had the scheme pronounced worthy. Those who attended the early meetings will recall that this is exactly what he proposed to do. He has therefore made good on all that he ever suggested to be possible. And now Rensselaer should and we believe will do all that the enthusiasm of our early meetings promised we would do. It means the direct railroad com munication between the county seat and the extreme north and south ends of the county. It means the opening up for trade in Rens selaer a territory north . and south that was not before accessible, and its mean for Remington the drawing nearer of a rich territory in Benton county. <To both it means what competition there is in com petitve railroads, the lessening of freight and express charges, better passenger accomodation, quicker mail service.

It means the increase of from 25 to 100 per cent of all property in both towns, and the increase in farm values oi from $lO to SSO ‘an acre. It means the opportunity, so long sought, for the location of factories. It means ncreased population and therefore, increased business. It means adding at once to the financial well-being of every merchants and property owner. It might possibly be the tide taken at its ebb, and it might be

that to neglect it means that Rens selaer will never have another “ehanee for yu road, at least oi.e brought up to it with so little effort On the part of the public. Now, what will we do to push it! TflongT The showing of the engineers figures out an investment worth 14 per cent, and if this can be made the stock will 1 e worth more than twice what it actually costs and there will be limitless capital seeking it when the road demonstrates that it can earn that amount. Some persons will want a guarantee that they will get that rate of interest If it could be guaranteed no one here wonld get a chance to buy it. The shares of stock wiH be sloo, selling at 50 cents on the dollar, with a 5 per cent commission to the Shadburne company for making the sale.

The cash value therefore of a £IOO share of stock will be SSO, and it will requiie the sale of 2,100 shares to provide the SIOO,OOO cash necessary to begin construction. How much of this will be taken in Jasper county is, of course probamatical. Many have assured Mr. Infield that they will take 4 stock, some have said they proposed taking as much as 20 shares; there are others who are fond enough of speculation to buy con siderable for the prospect it offers of making them a fine investment; and there are others and we believe this will inclu le many who are i n terested in the future welfare of the city amd county who will take stock not so much for the invest

ment as for the desire to see the road built. This should include every person who can afford it, for whatever they think they can at ford, and fiom expressions of loyalty to the road, it is quite certain there will be many of this kind of stock purchasers. Mr. Infield has had printed a folder statement of the showing the engineers found, setting forth the estimated cost and estimated earnings of the road, and -what there would be left to pay dividends with after the bonded indebtedness had been paid its interest.. The folder also sets forth a tax statement showing the property the road would pay taxes on in the county. That the building of this road means much for Jasper county there can be no doubt. That a liberal response will meet the solicitors here seems very probable and that the road will be built and that Rensselaer and Jasper county will be benefited by increased and values and by larger population can not be gainsaid.