Under conditions of business and transportation, similar to those shown on proposed line, the mail business has been almost invari ably secured by electric roads. This is due, in a great measure, to frequency of cars, more rapid handling of mail, and to the fact that electric cars are run through village streets, making the transfer from railway to post office more convenient and rapid.

With two round trips per day, for three hundred and ten days, the mail cars will cover sixty-eight thousand two hundred car miles during the year.

This service will give a revenue of not less than seven thousand five hundred dollars per annum.

PACKAGE FREIGHT AND EXPRESS.

As heretofore shown, there is a large business of this character between the farms and villages and the principal cities.

One express car can cover the route both ways in one day, handling the bulk of shipments; the combination cars can carry small consignments at two hour intervals.

It is estimated that five tons per day of miscellaneous merchandise can readily be secured, which, carried at an average price of thirty cents per hundred, would be thirty dollars per day or nine thousand three hundred dollars for three hundred and ten days.

DAIRY PRODUCTS.

While Allen, Hardin and Marion counties do not take a prominent lead in dairy products, there is, of course, a possibility of handling the milk trade to terminal cities. The present condition, as previously set forth, relative to present transportation facilities, make dairy farming unattractive.

The altered conditions, brought about by the construction of a highspeed interurban road, would result in this industry being followed more extensively, giving, within a few years, an excellent source of

revenue.

The following estimate, however, is based upon trade that could be derived at this time:

800 gal. milk per day-288,000 per yr. @ 2c.. Butter, eggs, etc., per yr.

FREIGHT.

$5,760 1,000

The territory between Lima and Kenton is served by the Erie Railroad, but on account of infrequency of trains, lack of cars for summer and autumn shipments, and the fact that a large part of the consignments are transferred to other roads, it will be possible for an electric line to secure a fair portion of this transportation.

Outside the cities of Lima, Kenton and Marion the supply of coal could be more economically handled by the Lima-Eastern than by the Erie Railroad, as the rate would be lower, more prompt service assured, and in the majority of cases, particularly at Big Island, Scottown and Marseilles, the advantage would be more than doubled. Farm products are extensively shipped by car lots or teamed to the nearest city.

The region, known as the Scioto Marsh, shows the greatest industry in car shipments, but a large business could be developed for consignments to north and south roads, and even for transfer to the Erie Railroad, from points east of Kenton.

Large quantities of lumber, shingles, brick, cement, lime, and other building materials are constantly being brought into the territory, and in many instances the charges for teaming are from four to five times the cost of hauling by electric line.

Such necessities as harvesting machinery, wire fencing, fertilizers, and other farm implements are also transported by team, all of which would go toward making up an extensive traction business.

The income from freight, which may be derived from the territory traversed, is estimated as follows:

Coal, 125 cars-3,750 tons, @ $0.40...

Farm products, 600 cars, @ $10.00..

Building material, farm implements, etc., 20 cars, @ $10.00..

REVENUE AND OPERATING EXPENSE.

1. Passenger Traffic:

Annual Revenue

$1,500

6,000 200

(a) Directly on line, 76,740 @ $2.25.

(b) Tributary to line, 41,735 @ $0.221⁄2..
(1-10 of above rate)

(c) Transfer of passengers from distant points
on roads, from and between steam, and
electric railroads, in Lima, Kenton and
Marion..

Operating Expense

Per Car-Mile:

Maintenance.

$0.025

PROMOTION

AMENDED BILL AS FURTHER AMENDED
(Filed February 10, 1908.)

IN CHANCERY OF NEW JERSEY1

To the Honorable Mahlon Pitney, Chancellor of the State of New Jersey:

Complaining shows unto your honor, your orator, Harry C. Haskins, of Seabright, in the State of New Jersey:

I. That during the year eighteen hundred and ninety-eight, eighteen hundred and ninety-nine, nineteen hundred and nineteen hundred and one, your orator devoted a large part of his time to the study of the industrial conditions concerning the output of pig lead in the United States, and the manufacture and production of white lead and other products obtained from lead; that previous to that time he had been somewhat interested in, and had had some knowledge of the production of white lead, and was to some extent familiar with the trade conditions, competition and rivalry in production of the same; that during the years above mentioned, he had made a diligent study of these matters and had spent much time and many thousands of dollars in visiting different plants in various parts of the country where white lead was manufactured and had conceived the plan of uniting the outstanding lead interests and enterprises that had not already become a part of the National Lead Company into one company, for the purpose of either competing successfully with the National Lead Company, or ultimately forming a combination therewith, so that thereby the consumer might acquire white lead and other similar products at reduced prices, and by combination greatly lessen the expense of production, and to that end had, from time to time, procured options on a large part of such outstanding lead interests. Among the properties that he had either thus acquired an option on, or opened negotiations for their purchase, were those of the Wetherill White Lead Company of Philadelphia; W. W. Lawrence and Bailey & Farrell of Pittsburg; Eagle White Lead Co., of Cincinnati; Gerhart White Lead Co., of Dayton; Hoyt Metal Co., and American Shot and Lead Co., of St. Louis; the Carter White Lead Co., of Omaha; Raymond Lead Co., of Chicago; E. W. Blatchford, of Chicago; the McDougall Lead Co., of Buffalo; the Chadwick Lead Co., and Boston Lead Co, of Boston; Sterling White Lead Co., of Pitts1 See Haskins vs. Ryan, 75 New Jersey Equity Reports, 330.

burg; Harrison Bros. & Co., of Philadelphia; Pitcher Lead Co., of Joplin. In addition to this he, at great expense, had obtained renewals of options and made investigations into the affairs and properties of other lead producers and estimates of their value and the probable expense and power to purchase or acquire the same in fulfilment of his plans and scheme of combination.

II. The results of the foregoing efforts of your orator was such that in the spring of nineteen hundred and one, he had crystallized and formulated a complete plan for the combination of the white lead interests in the United States, that were not already in the National Lead Company. While your orator was possessed of some means, his fortune was not sufficient to undertake the enterprise alone, and he became, therefore, desirous of interesting other capital to join with him in the promotion and advancement of his said scheme. With this in mind, your orator had a number of conferences with the then president of the American Smelting & Refining Company, Edward W. Nash, a personal friend of your orator, and whose position as such president was of a character to add weight to your orator's proposition, and through his intervention, procured a letter of introduction from Daniel Guggenheim, chairman of the executive committee of the American Smelting & Refining Company, to Thomas F. Ryan, the defendant herein, who then was, and now is, vice-president of the Morton Trust Company, a large and influential banking institution of the city of New York, and was himself a prominent financier, interested in many large corporations and a man of large means, for the purpose of laying your orator's plans before him, and to seek his co-operation, influence and financial assistance in the furtherance of your orator's plan. As a result of such letter of introduction, your orator, in May, 1901, procured an audience, and had a long conference, with the said Thomas F. Ryan, and laid before him the plan your orator had conceived, and sought his cooperation and aid, and proposed to contribute his perfected plans, scheme of combination, options, contracts of sale, renewals of options, estimates and data, which he then owned and possessed and which related to the corporations, firms and individuals set forth in the first paragraph of this bill of complaint, and if necessary, as much as two hundred thousand dollars to the said project, if the said Ryan would join him therein and also contribute enough to carry the enterprise through. Said Ryan became very much interested in the project as the same was laid bare by your orator before him, and agreed to join your orator therein, provided an examination of your orator's plans and papers by the attorneys of the said Ryan confirmed the statements your orator made to him. Your orator was