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.
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OtWONt WOULD EXPOSITION IN tlS
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CMRCTORS
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PORTLAND THE CLCAHINO HOUSE OF AN EMPIRE
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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