Letter to Fred Willis Hoyt from J.P. Middlemas and W. Frazier Jones, Jacksonville Forwarding Company, October 10, 1901 (...

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Material Information

Title:
Letter to Fred Willis Hoyt from J.P. Middlemas and W. Frazier Jones, Jacksonville Forwarding Company, October 10, 1901 (3 pages)
Series Title:
Fernandina Dock and Realty. 1877-1908
Physical Description:
Unknown
Language:
English
Creator:
Middlemas, J.P.
Publication Date:
Physical Location:
Box: 1
Folder: Fernandina Dock and Realty. 1901

Subjects

Subjects / Keywords:
Fernandina (Fla.) -- History
Spatial Coverage:
North America -- United States of America -- Florida -- Duval -- Jacksonville

Record Information

Source Institution:
University of Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
sobekcm - AA00003172_00002
System ID:
AA00003172:00002

Full Text





COPY


Jacksonville,Fla.Oct.10,1901.

Mr.F.W.Hoyt

Fernandina,Fla.

Dear Sir;-

As requested we beg to submit herewith a synopsis of what

We consider necessary in the way of a contract between us for the

construction of the proposed Railroad. Of course this is merely an

outline covering the more important points and is for the purpose of

giving your associates some idea of the necessities: All matters of

detail to be agreed upon before contracts are drawn.

You will see that it is out idea that the Railroad be built by

ourselves as contractors and we do this for the reason that there are

things to be done which we,as individuals,might: do and which it would

be unwise for a Railroad Company to do.

We assume that there is no necessity-of going into the question

of the benefits whihh would accrue to the Port of Fernandina by the

construction of such a road,as that has already been realized by you,

but the present plan,we think,is one which while costing the minimum

for terminals at Jacksonville promises to tap the best business
tributary to Fernandina.
You,of course understand that we have in view the active manage-
ment of the property for a term if at least five years or as long as
the resule of such management is satisfactory.
As soon as your associates return we would suggest that the matter
be taken up and a conference arranged,as prompt action is desirable.
Yours very truly
(signed) J.P.Middlemas
W.Frazier Jones









SYNOPSIS OF THE PROPOSED AGREEMENT


lst; You and your associatesare to organize a Company for the

purpose of building and operating a Railroad etc.,which:.shall have an

authorized capital of say $500,000.00 and with authority to issue first

mortgage gold bonds bearing 6% interest at the rate of $12,000.00 per

mile of road built.

2nd: The Railroad Company is to make a contract with the subscribers
e^^ (Lvn^^iJ; i. pJUL CZi ^AA ri'rX.a
hereto to build said railroad for which the contractors are to receive

$600,000.00,one' half in stock and one half in first mortgage bonds.

3rd: You and your associates agree to take from us $200,000.00

of the capital stock at par,one half of which is to be paid in cash as

the work progresses and the balance($100,000.00)to be given for the

River front property and franchises which you now own,amounting in all

to some. 10,000 feet of water front.

4th: It is understood that for the present the issue of stock

shall not exceed $300,000.00,the remaining $200,000.00 authorized to

be held by the Railroad Company and issued as needed for improvements,

extensions,etc,etc.

5th: You and your associates are to assist the contractors in

every way possible in getting franchises,etc.from the City of Fernan-

dina as well as to guarantee to the contractors free of all cost a

right of way through the City of Fernandina and to at least five miles

from the City limits.











S. #2

6th; The Contractors are to agree

A, To build and eqiip a railroad from the City of Fernandiha to

Grand Crossing and make a physical with the A.V.& W., J.& S.W. and

Plant System at that point. The Railroad to be standard in every par-

ticular and laid:with 60# steel railds.

B, To furnish ample side track and station facilities at the

different points along the line.

C, To furnish ample yard facilities at Grand Crossing..

D, To provide ample and proper station accomodations,yard tracks

and docks at Fernandina for the convenient handling of Naval stores,

Lumber,Cotton and all other bulk freightand to provide a means of

handling phosphate as economically and expeditiously as any now in

use,either by erecting an elevator or by building storage room with ele-

vated tracks for unloading and storing by gravity. The capacity of

said phosphate house not to be less than..the one now in use by the S.A.L

at Fernandina.

E, To make all arrangements necessary for the conduct of traffic

such as making traffic agreements devising rates,etc.,which agreements

shall,of course,be subject to approval by the directors of Railroad

Company or the proper officials appointed by them.

(signed) J.P.Middlemas
W.Frazier Jones