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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (July 9, 1922)
11 MEN Tp Complete the Bridge of the Gods Men who can visualize the future of the Columbia Highway, with the tourists of many nations crossing and recrossing the Bridge of the Gods, to view from every angle the gran deur of the Columbia Gorge. Men, who re spond to the call of civic pride in the develop ment and improvement of our world-renowned highway, our greatest tourist asset. i j Seldom does the public have an opportunity to respond to the call of civic pride in matters of public utilities that offer the direct benefit given by the Bridge of the Gods Corporation, or glory in the additional features of beauty to our already famous Columbia River Highway and at the same time receive substantial mone tary returns for their suppoVt. Part owner-, shipi on a basis of equality to all, in the most natural bridge site in the northwest, if not in the entire United States, and a bridge that not only spans the greatest waterway of the Pacific but crosses two transcontinental rail roads and joins two of the greatest highways in the world," the Columbia River and the North. Bank. THE . STJTTDAY OREGOXIAN, PORTLAND, JULY -9, 1922 WANTED 000 N THE JMAIN PIER ON THE OREGON SIDE IS COMPLETED BUILD THE BRIDGE One Thousand Men or Firms With One Hundred Dollars Each Will Do It THE BRIDGE IS THE LINK THAT CONNECTS THE YAKIMA VALLEY WITH PORTLAND A traffic 'survey has been made. It is estimated that the Commercial Traffic alone originating at Stevenson, . Underwood, White Salmon, Lyle, Goldendale, Glenwood, Yakima and the smaller towns will pay 7 Per Cent on the entire cost of the bridge. This will be more than doubled by the tourist and pleasure travel. ft. - OtWONt WOULD EXPOSITION IN tlS Vft.vnca. tar CMRCTORS "Tfttfl tl " Ct.tM 4MMI f. HU - MtlUIRf IMU.IMtf temrr uv PORTLAND THE CLCAHINO HOUSE OF AN EMPIRE oi wsz rvflsw ,0 J- at June 26, 1922. Brtdgft of the Soda Corporation, , 221 Chamber of Commerce Building, Portland, Oregon. . ' , Gentlemen: . It was with a great amount of pleasure that The Portland Ad Club took part in the dedi cation .oeremony of the "Bridge of the Gods Pier on Sunday, June 18th". The new bridge should stand for a new era in co-operative effort on the part of all Oregon and Washington communities and cities, for the development of modern enterprises. We consider this enterprise one of the most important civio projects in our'present highway development. V ' You are to be commended on your initia tive in promoting this enterprise, which from the very nature of the proposition assures your success. Yours very truly,. GLB:B aw, t4 Vafc 1922 ENTIREYEARi Interstate Span Nets Totarofl $152,030 for Multnomah! County; Returns $24,784 Less Than for 1920. The net eTHiiir of the Interstate! bridge for 121 wm 253.385..of which I J152.0JO went to .Multnomah county I arid J1SL853 to Clarke county, accord ing to a report aubmitted to thel county comnliaioner by AlcxC Rac.1 accountant. The croaa income for the! fyear waa J255.9O0, but, $I2.S1S went to-1 ward operatinc expeaaea, The sroea I income was a.78 lest than In 120. 1 due to the fact mat not ao many, ship yard employee croased the brloge. According to the report, S.324,0001 peraons'croeaed the bridge durtnr the year In automobiles or on foot. 'Street 1 cars carried ' liOeo.000 acroia the 1 structure, bringing the total number i rosaing up to a.2,ooo. in 1SI0J 0&8.000 persons Jerossed. The net earnings of the bridge since! ebruary. 1917. has reached 1.JS1,8S6.I according to County, CommisslonerJ .olman. 4 The aale ot bonds by MultnomaH ounty for building the Interstate! bridge totaled 1,JS0.000. .Two hun dred thousands dollars of these bonds! ave been retired since 118. HoImanJ aid.- The bonds will beretlred. inteiesQ paid, operating expenses paid and al surplus accumulated within the life I f the bonds," Holman said. . I Fifty-nine thousand three hundred I treet cars, 734,000 automobiles andl 114,000 trucks crossed the viaduct inl 921. according to Rae's report Multnomah and Clarke counties have been more 'than repaid for the cost f the Interstate bridge over the Columbia by tolls "paid by travelers, according to a statement by County Commissioner Rufus C. Holman on the authority of m Accountant Aiex u. nu, i "At the close of business April 11," 1 wld Holman. "Multnomah county had received $74!. 824, net. Multnomah coun; ty's share of the cost ot the main itruor ture waa JS34.484.39. Clarke county had received J499.218, net, and Clarke county s share of the cost of the main structure was' S36S.322. II "These figures of cost do not tncludo II the approaches which Were Bald for by Clarke county on the Washington side and by Multnomah county on the Ore gem side. Nor do the figures include the cost of the bridge over Oregon slough. also bomo by Multnomah county. 'But from the bridge tolls. Multnomah county has paid off the bridge bonds as they fell due at the rate of $50,000 a year, has reimbursed the state for all money advanced when the bridge waa not earning money, .has paid its share of operating and maintenance costs and has about $32,600 in the bxldge fund. IK LAST YEAR For the yeas ending December 31, 11920, the Columbia River InterstateJ bridge earned the total of 12.78.168.. f 75, according to, the statement of I Auditor Rae. Of, this Multnomah. 1 county is to receive three fifths, or ' 1(1166,901: Clarke county, two fifths,) pr $111,2(7 The total Income, of the bridge wi 32.11. The, total;1 operating expense! was $60414, Including a payroll of 33.- 86. Tolls .collected at the bridge J mounted to 24JTC7. The Portland! FARY '2, 1920. iTOTAp.OF f 1388.25 IS COLLECTED IN TOLLS, StJPERINTEND ANT DECLARES. ' With -the collecUon of $1388.25 in ! bUs yesterda vas proclaimed as the j fmost lucrative Sunday since the erec-1 Itioof the Interstate, uridger by P-l BComnbpll ";iiDerinte:idant ot the r. fstrueture. The .above amouni ooes hot include at least 500 in Street carl rotal Earnings Exceed Cost'of Main Structure; Two . Counttes Get Cash. Help Build the Bridge The net income frotoi the Interstate1 bridge from February' 15, 191T. when the structure was opened to traffic, to March 31, 1922;. was $1,248,040.98, considerably more than the cost o.B the main structure, according to a re rport Just prepared by County Commie?- sioner Rufus C. Holman. Keceints from the bridge since It nas Deen in operation total t.4!3. 432.22, while the disbursements total $215,391.24. The cost of "the. main structure was approximately $1,100,000. The receipts have been distributed as follows: To Multnomah, county, $748,824.57; to Clarke county, $499,'-2X8.4L In addition. Holman said, the bridge commission has retired $200,000 of the bonded indebtedness. There are fifty-three toll bridges of importance in the United States. jEvery one of these bridges has been a financial success; in many instances paying enormous profits to stockholders. There is no record of a failure in any of these investments. The board of directors of the "Bridge of the Gods" Corporation have authorized the sale of the remaining one thousand shares of the stock of the company. The object of the corporation, being to build a bridge over the Columbia River at the lower end of the Cascade Rapids. The entire cost of the enterprise is $600,000.00 The capital stock of the corpo- ' - ration is $300,000.00 The corporation purposes to place a 1 bond issue, maturing in twenty years, for 300,000.00 $600,000.00 $600,000.00 When the balance of the capital stock and the $300,000 bond issue has been- placed, there will remain' a cash sur plus for contingencies of $26,429, after paying for financ ing and construction of the bridge. The undertaking is a private enterprise to be owned and operated by the corporation. A toll is to be charged and a tentative schedule of tolls has been approved. The tolls will take care of the upkeep and overhead expenses, pay the interest on the bonded debt, provide a sinking fund to take care of the debt, and pay a reasonable divi dend upon the stocks. The bonds are .to be first mort- gage bonds, running for twenty years, drawing 7 inter est, optional at 105 after ten years, and are secured by the property and the tolls from the bridge. The plan of issuing only a limited amount of stock makes it unusually attractive to the investor, for when the bonds are retired the bridge will be owned entirely by the stockholders. The only opportunity to get stock will be by purchase from the block of stock that is now being offered for sale. When that is sold it is not con templated to put any more stock on the market. $52,701.62 PAD) TO STATE FROM BRIDGE TAXES Operation of Highway! Over Columbia Nets Bal ance of $232,40131 From J January to May. SALEM, Or.. Jan. 2. (Special.!- The secretary of state's office todavl recetved from tho Multnomah countyl court a check tor 52.70l.2. coverlns I ah amount due to tho fetate from! operation of the intor-atato brtdcel betw.en Multnomah coiiutv. fti eron. 4 and-CUrke!' county, "Washineton. Jorl fi ino year endin? December ii. 1311. This payment had been . delayed L tl pending; settlement of certain points tat tsio Between tbo county and thai & PaVM .OFF 13TERESTV -w W Under a.UWHhat jrarailet im'tol mo, uuirtui wunif toecivvu s two-fifths , and iMultnomah countyl larBo-xuipa oc ins net proceeaa ironi operatton of the bridge. From Mult-1 nomah county's three-fifths it. was re I quired to pay the state 75 per cent as i a reimbursement for the amount of I annual Interest chargo onVsnds 1 issued by Multnomah county to build J iitBe bridge. -K.ccompanyins; the cnecK received by Multnomah county today la a re-J port covering; the period from Janu- Mary 1, 1918, to May 28, 11,. when thel viu i.w n o BupcrKuia uj m umm lair, I RECEIPTS NBAK HAI.P MILtlOW. This report shows total receipt of lj md.(Y..J6 ana aisbursementa of 168, I3D.IS. leavlnir a net balance of 37. 336.S1. Multnomah county's share of lores - iiiuis is 12.3,401.31. All Clarke county two-flftbs 1 16.- 0J4.ZD. rrorn Multnomah eauntVal share It must pay the state 76 pari cent In addition to the check received I toaay. The par value is one hundred dollars a share and may be purchased on partial pay ment of 40 per cent down and 15 per cent per month; 2-per cent discount for cash . BRIDGE OF THE GODS GORPOR ATION Phone Broadway 2055 DORR E. KEASEY & CO., Financial Agents 221-222 Chamber of Commerce Building . Portland, Oregon BRIDGE OP THE GODS CORPORATION, 221 Chamber of Commerce Bldg. Portland, Or. Without obligation on my paxt, please forward to me full information regarding the opportunity for investment in the Bridge of the Gods. - t r') ' t