The Inter Ocean from Chicago, Illinois • Page 12

5 12. Presideimt Uses Surfer fepsice Work Stall: First Sod Turned by President Miller with a Silver Spade, and the Chicago-New York Electric Air-Line Railroad Co. Begins Construction. 6ii of It has been many a day since the region round La Porte. wi ltirred to uch a rith nf nihuilaim bv the ovenlnr cere- monlev on Sept.

1 of the Chicago-New York Electric Air lAne railroad. ThU great elee-trlo route will cut the running time between Chicago and New York to ten hour, the fare to $10. and reduce the distance by JW miles, as shown on the dotted lines of the map. Excursionists from far and near swarmed Into the town, -while from Chicago there was run a special-train, of six cars over th Pere Marquette railroad accommodate the hundreds of stockholders, officials of the company, and a full military band. The Chicago band was reinforced by the La Porte band, the finest in the state of Indiana, and a superb musical program was rendered.

The ceremonies were held at the William A. Hall grove about two miles south of the -city, and were opened with a benediction by the Rot. A. J. Loettert of La Porte.

Mayor L. Darrow of La'Porte -was master of ceremonies and made the opening told with characteristic cordiality how La Porte and her cltliens welcomed the most gigantic railroad enterprise, the world hat ever known and spoke with pride of the benefits that were sure to follow to his native city as a result of its advent. He then introduced the A. Clark of South Bend, lad" --v. Mr.

Clark must have been Inspired by the atatellness of his surroundings and the enthusiasm of his audience, for certain it Is that his speech was a superb oratorical masterpiece. v. He carried the spellbound assemblage on the wings of history back to the primitive days of road building. He showed the economics Importance' of some of the world's great highways, the road that led from the Euphrates to the Nile, the (Teat Roman roads, marvelous serpentine highways of the Incas In the Andes, etc. He touched upon the economic, social and the political aspects of railroad building, showing most eloquently how such enterprise had always' broadened the people's minds and obliter-' ated sectional, prejudice.

In concluding hi remarks he spoke in part as follows: "You and I live in as electric age, an age that challenge it predecessor and stamps It a the highest altitude of civilisation. Electricity has supplanted steam on manv of our great railways. Here, on this beautiful autmnal afternoon, we are witnesses of that fact. We are in the presence of our fellow ltisen who have the aggressiveness to build an electrlo railroad from Chicago to New York. Neither space nor matter nor the height of mountains nor the demon of tire deep can prevent this being done.

Neither low valleys nor high elevations can deter those enterprising citizens. We have listened to their proposition; we are now witnesses of being put Into and, as citizens of Indiana, we now pay tribute to Miller and to Price and to Wood, and all officer and directors of this great electric line that receive it bapti-m here on the soil of the glorious commonwealth of Indiana Brisk applause greeted these remarks, and when it had subsided the bands regaled the crowd with national air and other thrilling music. Mayor Darrow then Introduced Mr. Fred-' erlck H. Wood ot Chicago.

Mr. Wood spoke as follow: "You may ormy not -realise the significance of thi occasion. "We are maklna; history today; "You are participating In the initial step of a great enterprise which will have it place among the masterpieces which have marked eras in the Industries of the world. "Tho eyes ot two continent are upon you today. "The commencement of construction ot 'a trunk line, to be operated electrically, for passenger service exclusively, built on the most advanced linos of modern engineering, without a grade crossing through Us entire length, keeping In a direct route 750 mile In extent from one great terminal to the other, and forming a magnificent highway to either metropolis for every city contiguous to Is an event of such vast importance as to attract the attention of the entire world.

"'It has been my privilege to have been closely associated with the two men who have conceived and worked out every detail of this stupendous I cannot let lectrie: Electric Engine That Win Take a Train this occasion pass without at least a word, concerning the the courage, and the indefatigable energy of these men. 'r-- In their lexicon there Is no such word as have surmounted obstacles which to others would have been appalling: "They are waging a' war against the great-: est moneyed powers on off from all assistance from the usual sources' in railroad building, they have: devised hew methods which will have their place in the annals of finance. "Knowing full well the Justice of their cause and the value of their project they have fearlessly persevered until today marks the' commencement of construction which shall put into practical, operation the moat advanced ideals of railroad engineering. vwhen-tois great work has been consummated, these men will have earned a reputation great deed second to none in the industrial world. "I want to add further: Not only did these men establish the character of this enterprise; not only did they devise a method ot financing It, but they have set aside the profits to be derived from the assembling of raw materials Into a perfect structure to be participated In by the people of this country.

They have offered to all classes of investors an opportunity to participate in these vast profits. "They have presented to the people not a stock which has been wrung dry of every vestige of earning capacity; which ha been manipulated by moneyed kings until it bears the very lowest possible earning power; but a Stock which gives to all an equal share fn the enhanced value of the road and its entire earning power, free from the danger of a bonded Indebtedness and accumulated Interest r. r' fitting It is that this, the first of the great Electric -Trunk Lines which are destined to be built shall be built by and be owned by the people of this After Mr. Wood had finished the presentation of the silver spade took place. President Miller stepped forward on the platform, and Mr.

J. D.Prlce, president of the Co-operative Construction company, the concern that ha contracted to build the road, spoke In part a follow: "Mr. Alexander C. Miller, president of the Chicago-New York Electric Air Line railroad, on behalf of the stockholders of the Co-operative Construction company I present you this spade. Go and begin the work you have Intrusted to us, and I promise you before God ana my reiiow men inn we iuh not cease our labors until 750 miles of steel bands shall bind the East ana tne west ana the Occident shall greet the Orient at the open door of La Porte." i Mr, Miller responaea oneny, accepted me pde, and brought the speecbmaklng to an Thn hem the march to the spot of earth.

marked by a nag tn a near oy neta. wnere tne tii1 ceremony of breaking ground took place. President Miller, beaming with en thusiasm, took his puce near ine nag. ana. henillnr aloWir forward, pushed the silver pske into the earth.

He paused a moment while many cameras were locuita ou mm. and then, lifting a spadeful of earth, said: "I now turn with this spade the first esrth In the construction of the Chicago-New York Electric Air Line After thi ceremony Mr. Price gave a demonstration of one of the many huge steam grading machines that will be used in the construction work. Those- people present who thought the only earth that would be moved would be the bit in the silver spade were quite amazed at the tons upon tons ot sand and that this monster steam digger rolled up and to one side. No man could look upon the work actually started and ever feel the slightest doubt of the practicability ot the project or the sincerity of its promoters.

At the rate ot grading which was shown on the opening day more than 200 miles of this work will be completed within one year If ten machine are kept at work. There was also shown complete railroad surveyors' camp, with' tour: large tents, forges. wagons, stores. Instruments, and all the apparatus for practical field work. It was indeed a gala day for La Porte.

A conservative estimate by one of the newspaper reporter from Chicago placed the i number of spectators at 5,000. and among TH33 UTTER OCEAN, Road fo New, York In 10 the number were some of the- most prominent-railroad men in the country. Lunch was served in the grove before the opening speeches took Many people came tn automobiles, but it was the number of Vrlgs" that amazed the crowd. One man who made a count aaid that there were more than- 500 vehicles In and sround the grove, It was not to be wondered at that La Porte was Interested in the proceedings. The advent of the Chieago-New York Electric Air Line railroad means an Industrial awakening in-northern Indiana such as few parts ot the West have ever seen.

The hew road will, first of all. furnish a msrket for certain low grades of Indiana coal which have hitherto remained and high aulphur coals will be bought at a low price at the power-houses and converted Into electric power, the surplus of which caa be-sold in La Porte and other cities at the rate of $30 per year per horse-power, a price ao low that It is bound to bring into business life many great factories. Not only that, but the statljr groves and Pine lake, a body of water three miles long by one mile wide, wilt now become available as summer resort ground, and hundreds of thousands of excursionists will come Chicago and elsewhere every season to enjoy Ita cooling breesee. Of course, the through train traffic between Chicago and New York is the STHNDAY MORNIKO, GEi r. i i SEPT3J1LDER 0t 1000a THIS SILVER SPADE WAS: USED BY PRESIDENT to Tunn nnsT EAnm in tiie Ycnu electric air like-.

nAILOOAD La Poi7TE i I iiitlmia Sewei Vziii I 0 5. I LLF ACTUAL S12E this space is f.e wiixov c. d. feacdcx cci state OXJ 'Vosretteo I i sjanaigJwM 4 mi mmnammnm Route of the Tea-Hour mala object of the new road. but.

nevertheless, the local traffic will be enormous and is not to be Some idea of how quickly the Chicago-New York Electric-Air Line raljrdad will become a big money earner and dividend payer may be had by a comparison with results already achieved by the Aurora. Klzin Chirnwn road, the onlr hieh -aneed electric road- yet running In this country." On a line only fifty-seven miles long ana at a time when it had been in operation about three years, the Aurora, Elgin Chicago road was able to ratce more than ten "million dollars, -purely on the showing of It actual earning power. That earning, power wa bated almost wholly on Sunday excursion traffic, week's end finding Aurora overrun with pleasure seekers who hardly know what to 'to with themselves when they get there. If the Aurora road can build up such a traffic and show such earnings when its pstrons ate it mainly 'for' the pleasure of it ninety mile an hour ride, what will be the earnings of the new Chicago-New York Electric Air Line railroad, which will run as high as 100 miles an hour, and has at the end of Its firtt. section a park of stately trees and a lake of enchanting beauty to delight its excursionists.

can be no doubt that the Sunday and holiday President Alexander Who Used the SUver Electric Road Between Chicago and New local traffic that will come to the Chicago- 1 New-York Electric Air Line railroad when the first 100 mile section is built will enable its projectors to complete the entire 750 miles of -its length because-of the rise In value of-, its stock and rapid sale on the strength of the local earnings it will be able to show. And yet this will be but a minor part ot its total The first work was done at La Forte ror technical reasons, but from now on work will be in Droaren on various parts of the line. The opening day ceremonies were very im prest ire and the thousands or people pres- nt were evidently convinced that the pro- 1 lectors of this great ten hoar electric rail-' road between cntcago ana sev ion are in deadly -They are the kind of men who do some of the things that can't be done, men' start right in dotsg work while petslmUt and scoffers are explaining its impracticability. No fair minded man who listened to the eloquent word Of the speakers or observed that expression-' ot confident determination on restaent aaii- Ier's face as be turned that -sod wltb his sliver spade, or who saw the feuge grading machine plowing through the earth no roan who had witnessed these things could fall to realize that with the stroke of that silver spade tne greatest industrial ana engineering marvel of the age was born.r- INTERESTING FACTS CONCERNING THE' CHICAGO-JJEW YORK ELECTRIU, AIR LINE The Chicago-New York Electric Air Line, railroad was first conceived by the man who. is now its president.

Mr. Alexander C.1 group i had formerly been with the Burlington and Alton systems. They incorporated under the laws of Maine. After they had the right ot way partly; inrurH and the rrelimtnanr work well in hand they approached some of the great rail road magnate and attempted, to interest them in the project. Thia could not be done, ixiuiix Vetted Interests of these men in the steam roads would be Jeopardised by.

the success of the new liney ana tnereiore it wa ir Ann determined to' make it a popular enterprise and let the people build the road, riiia nlan mi nrovipd most successful, thou sand of shares of stock having been ub-( rcribed for by-far seeing investors, wno realised that" this was the one great opportunity of a lifetime to put their money where It would yield a big income without any risk The Chicago-New York Electric Air Line railroad run a. route-that has scarcely a. crook or curve in its entire length, of 75tt miles. Jusi.what means will be better 'understood When we say that by vlr-; tue of this direct alr lliie.roiite a hertenlng of 160 mlli In the has-been wma The ro4d will be primarily a passenger line. wUl.

devote all its work at first to passenger tramc. iri" hour-and the swifest of these will make the Journey In ten hoars. The shortening ot the ami the treat saving in operating cost, onnnm of electricity over steam. will nermlt ot athrough fare -as low as 0 Iw nr rnarrea. i ne nue mu uuuuuui- edly create new record in transportation profits, for It cannot be doubled that all the mail and express contract will be secured and new traveling public created by the superbly-clean and marveloualy quick service that high spe-l electric-traction assure.

The Chicago-New York Electrlo Air Line railroad Is to be' built by popular stock subscription. There -will be ao-'boods-or preferred stock, and the safeguards that have been adopted for the' Investor'- protection are most extraordinary In fact, such a thing at loss Is almost In the first place, have thi tact: Every mile of the road goe through such a derv populated region that the local traffic would pay a profit even If the very worst should happen. If only lOtf miles are then no more, that hundred mil section will pay dividends of 13 per cent on the money Invested at present prices. For miles upon miles, throua-b Indian t4 Ohio, the road can be built at a cost of not more than $40 OftO per mile, and every mile so built would vleld dividends from traffic slone if It had to hut It won't have to. The through line to New York Is as sure Miller, Spade.

York la Shown by the Large Dotted Uneu to be built as -the sun I sure' to rise, aad when fully equipped 'and in working trdex. with four tracks for both freight and pas senger traffic, there is not the slightest doubt that dividends' in excess of 80 per cent will be paid, and a selling price of 1300 per share be the current quotation for the share, which ron -can bur now for S25. but which are rellly worth $100 even at the present Another thing that makes this stock a safer Investment thsn was ever offered to the pub lic before i -the following clause which ape pears on each stock certificate: Tkle certificate- will atc-eestcs la saratartar traat-Btcrtatloa She aaacaat the par valae at tate aaarea at stack 'repreacatcel hereby, aaal at ear-reat tariff rates, aver aay wart at tat read la eaeratlca. At soon aa trains begin to run on the road. and.

ever thereafter, the above clause will make each stock certificate Just like so much money, for tranaportatlon la as good aa money and can be sold for money at any time. whether the road ever makes any money or not, the investor la mad to feel by the Above -clause that there I something aura -and substantial about hia Investment, some thing In the way of real value- that- cannot go aatray. ao matter what happen, tor sucb a certificate can be need Juat a you would use money, so far aa the Chicago-New York Electric Air Lin railroad I concerned. The Chicago-New York Eleetrle Air Line railroad ia duly Incorporated and chartered under the lawa ot the state of Main. -v- People have not been asked to pat their money Into a project In which J.ne projector thereof have not put any of their owa money.

The fact are that the projector bad been constantly spending their owa money for more than a year before a single share ot -stock was offered to the public, and by that ttme thousands upon thousands of dollars had actually been spent oa preliminary -work: t.r -V "A good railroad Investment la the safest project Into which a man caa put hi money and- offers at the same time a prospect ot a rapid 'rise to wealth from tha increasing value of the shares. Chicago-New York Electric Air Lin railroad is the most gigantic Industrial enterprise of the century. No one man or clique of men waa big enough to finance) It without ald'ot the people, and hence the Investor -now ha a chance to make bis dollars turn-quickly Into many more dollar, and: take his place among the class of people who can live on-their incomes. "This is a' safe-Investment, the project appealing to Ibrlcty. people with ability to see for at once, how different it is from mining, oil.

rubberand other risky stocks that are offered at a few cents a share and are very indeed, even at -We urge any man or woman who has money that la not amine" what It should to com snd see for themselves what an unusual chance the Chicago-New York Electric Air Line railroad -stock offers for safe investment and wealth giving profits. You won't be able to buy the stock at the present price very long. A hundred dollar share coat $25 'rw Come and see as If you can. or if you cannot come, please remit tor the number ot shares you wish by registered letter, express or poetoffice money order. No interest charged on deferred payment.

Open Saturdays until 4 Fnzczr.i::i Sales Agent far Chicago-New York "'J Elactrio Air Un Stock, G44 HI..