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Show TIIE STREET RAILWAY The Directors Decide to Bond the Road. So as to Secure Capital to Extend the Track to Other Parts of the City. The directors of the Trovo Street Railroad Company held an important meeting in the Commercial Bank, Saturday Sat-urday afternoon, presided over by President L. Ilolbrook. There was a fu:l hoard present. The business that called them together was to consider the advisability of bonding the property prop-erty of the company and opening the bo ks for senilis additional stock to allow the management to extend the lihe to other parts of the city. Mr. II. Oiveus, representing three Eastern loan syndicates, was present, and con-feired con-feired with the board as to the immediate imme-diate probabilities of placing the bonds on the market. The bonds, which will be ready in a few days, are for a terra of thirty years, of $500 denomination aud draw interest at 5 per cent. There is now completed seven miles of track, and this together with steam An abundance of equippag for operating operat-ing the line, is offered by the company to. the first party that comes along aid wants to.ma.ke a good investment." . -,Tjie object of the directori ia floating float-ing their bonds is to 'get capital so as to enable them to go on extending the line into the various portionns of the city, -and possibly the connecting of some of the settlements with Provo, ai also - making, other valuable improvements im-provements that have been under cou-. cou-. templation by the company-, for' some time past, but , which, on: account of not haying' tbe necessary capital, have net been completed ... j The unequaled position of j Provo,. not only as a -commercial centre, but ae one of the greatest watering; resorts, of this, western .countrv, leaves no question of a doubt but what the bonds , will be eagerly gobbled up by capital-' ists; watching for Investment-The Investment-The line is now extended it - the gravel beda. :iu. the.,, eastern part of town, r and vtbe companyi, in a few vdaye. will be-hauling gravel on tke streets, and will continue to do so until the whole city ia paved or ai fast as the line'is extended to the dif-erent. dif-erent. portions of the city, i This is the decree of the City CounclUand one "which .-the people hope ito se speedily, accomplished, for it there Is., any weather that makes people ap predate good streets and good crossings cross-ings it is at the present time. ; t Besides . these advantages possessed by the street railroad company, is the further one of hauling ice, a business that will increase aa the city grows. The Utah Lake, - one of the finest fin-est bodies of fresh water - anywhere any-where in the West, furnishes the finest, kind of ice from eight to fifteen fif-teen inches thick. With these facilities and compine them with the immense bathing business done from May to October, when from five to six hundred hun-dred people go daily to the lake to bathe in its invigorating waters, and a capitalist has one of the finest paying pay-ing investments possible. The firanchise granted the street I railroad company by Provo City expires ex-pires on the second day of June, 1940. |
