Is Just Like Ice Cream

IS JUST LIKE

ICE CREAM

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It's Nice--Will Melt away

Without Prompt action.

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NEW ELECTRIC LINES.

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Would Cost Ann Arborites

Nothing to Make This a

Railroad Center.

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A number of prominent citizens interested in making Ann Arbor an electric railroad center, met A. M. Rockwell, of the firm of Rockwell & Snyder, consulting and contracting engineers, of Chicago, in the council chamber yesterday afternoon for a consultation. The proposition under consideration was the building of a road from Ann Arbor to Jackson and another to Adrian. Mr. Rockwell had been over a portion of the proposed route to Jackson with Hudson Morton and considered the field a most promising one for a paying road. The plans of Mr. Morton, upon which the proposition of Rockwell is based, contemplates a road running south on State st. for about two miles then directly west to Jackson. Also a cross road from Manchester to Chelsea. The Adrian road would branch off from the Jackson line at a point in Lodi, run thence to Saline, then south to the Ridge road and along or near that road to Ridgeway, then west to Tecumseh and from Tecumseh to Adrian. The plan also contemplates spurs from Ridgeway connecting Britton and Lake Ridge forming a triangle, also a spur from Tecumseh to Sand Lake an important summer resort. It is thought that the main lines will include at least 75 miles of track. The idea of Mr. Rockwell was to avoid the highway and run parallel with it or across farms as steam roads are built, his idea being that a better grade can be obtained and much litigation avoided which is sure to arise where a road runs along the highway.

Mr. Rockwell's plan for financing the construction of the road may seem novel to many but it has worked and is working in many larger construction deals. He proposes that a Corporation be formed in Ann Arbor and stocked at $2,500,000 and that bonds be issued in the sum of $1,500,000. It is not expected that the stock will be paid in. Mr. Rockwell estimates that about $2,400 will be all that it will be necessary to start the project. This much will be necessary to meet the following items of expense: Preliminary survey, $250; preparing bonds, $1,000; attorney fees, $500; blue prints, $150; franchise, $300; extras, $200; amounting in all to $2,400. It is thought that stock can be used largely in paying for right of way. When this much is done, Rockwell and Snyder stand ready to construct the road and finance the matter themselves. They will give a guarantee bond or contract to the corporation with anyone of several of the best surity companies of the country as endorsers that they will complete the road. They also contract to refund all the money put up by the Ann Arbor corporation for the preliminaries, except the cost of right of way, if they fail to build the road. They float the bonds themselves. They are placed in the hands of a trust company in New York. When five miles of track have been completed the trust company sends its engineer to inspect it. If it is all right one-third of the cost of the construction price of the five miles is paid the contractors, and so on for each additional five miles until the road is completed, when the other two thirds is paid over. Under this plan Rockwell & Snyder, of course, have to put up two-thirds of the cost of construction. The corporation is insured against any loss for labor or material by its contract with a strong surity company as endorsers of the contractors The success of the whole scheme would depend upon the ability of Rockwell & Snyder to float the bonds and of their ability to do this they have no doubt for they are handling much larger schemes constantly. The Alley L road, an elevated road in Chicago, was built on a similar plan, $11,000,000 being raised on the bonds, while the stockholders only put in an amount sufficient to meet the preliminary expense of the kind before mentioned. Here seems then to be a fine opportunity to make Ann Arbor an important electric road center with practically no risk. The proposition deserves careful consideration.