p.4 AN ELEVATOR AGREEMENT
Terms Arranged By The Company And The Committee
The Elevator committee met on Saturday afternoon and discussed the agreement drafted by the City Engineer between the city and the Elevator company, to be embodied in the by-law which will be submitted to the people. A full committee was present. A good deal of discussion was indulged in before the document was agreed upon. It provides for a bonus of $25,000 from the city, the elevator to cost not less than $90,000, to have a 500,000 bushel capacity, and to be a public elevator, for the use of the general public. The agreement further provides as follows:
The plans and specifications of the said elevator, shall be submitted to a committee of three persons, namely, the City Engineer, the Chairman of the Elevator Committee, and a third person, to be nominated by the Company; the plans and specifications to be approved and accepted by the said three persons, or a majority of them, before the construction shall be proceeded with under the agreement.
The elevator shall be built in a good, substantial, and workmanlike manner, and the materials and workmanship shall, from time to time, as the work of construction progresses, be inspected by said Committee, and approved by them or a majority of them.
The elevator shall be built within the limits of the city of Kingston, at some point along the waterfront.
The elevator shall be so built that vessels may load and unload at the same time.
The elevator shall have railroad connection, and proper facilities for laoding and unloading railroad cars.
The elevator shall be provided with a modern marine leg, capable of handling and unloading at least 12,000 bushels of grain per hour, and shall be furnished with such power and facilities from time to time as shall be necessary to operate said marine leg to its full capacity.
Grain in transit stored in the elevator may be stored for ten successive days free of charge save the charges for unloading and spouting grain from and to cars or vessels as hereinafter provided.
The charges for unloading and spouting grain from and to vessels and cars shall in no case exceed one-half cent per bushel.
If, after the payment of said bonus of $25,000, the elevator shall be destroyed by fire or other accident within the period within which the debentures issued in respect of the bonus by the city are payable (namely, twenty years from the passage of the bylaw hereinafter mentioned), the company agree, within one year thereafter, to rebuild the elevator in the same permanent and substantial manner and of the same materials and dimensions as the elevator now proposed to be built, or in default of rebuilding, they agree to pay forthwith to the city such amount as shall be sufficient to satisfy and discharge the then unmatured outstanding debenture debt of the corporation created in respect of the said bonus, and the interest from time to time to accrue thereon, and to the intent that the said corporation may be secured in the repayment of said amount, the company shall insure and keep insured the elevator and premises to the full insurable value, and shall assign to the corporation a policy or policies of insurance to the amount of $25,000, and to that extent give the corporation all the rights and privileges of mortgagees of the elevator and premises in respect of the insurance, and, in case the company neglect to insure said elevator and premises as herein provided, or to pay the premiums in respect of such insurance from time to time, then the corporation may insure the same and pay the premiums thereon and recover the cost of such insurance from the company, provided that, in the event of the destruction of the elevator by fire, the corporation shall not be entitled as against the company to collect any larger sum under any policy or policies of insurance on said elevator and premises held by them, than the amount of the then unpaid and unmatured debt and interest created by the corporation in respect of the bonus.
The work of construction of the elevator shall be commenced within twenty days after the final passage by the Council of the by-law, and the elevator, with all its appliances for receiving and discharging grain to and from carriers by land and water, shall be fully completed and ready to be operated and to receive grain on 15th November, 1897, and when such completion is certified as hereinafter provided, the said bonus of $25,000 shall be payable to the company, provided that they may delay completion beyond November 15th, 1897, but in such event the bonus shall not be payable till 1st April, 1898, but in case completion as aforesaid shall be delayed beyond 1st April, 1898, the agreement and the by-law shall be null and void.
The bonus shall not be payable until and unless the elevator has been completed, and a certificate of such completion, signed by the committe of three persons or a majority of them, has been deposited with the City Treasurer.
The elevator shall be operated so as to facilitate as far as possible the transhipment of grain at the port of Kingston and the development of the St. Lawrence river route for the carriage of grain to the seaboard. And it is agreed that the City Engineer shall have power to enter into and upon the premises of the elevator to see that the provisions of this agreement are carried out.
The company shall, before the payment of the bonus, procure to be incorporated and organized a company to be designated The Kingston Elevator and Transit Company (Limited), or some similar and suitable name, and such company when incorporated shall by a writing duly executed adopt and agree to be bound by the terms of the agreement and of the by-law hereinafter mentioned, and thereupon the company shall succeed to all the rights and be subject to all the obligations and liabilities under this agreement.
Provision was made for the depositing of a certified cheque for $1,000 as security for the payment of all necessary expenses in connection with the submission of the by-law, in case the agreement was not carried out. In case the elevator is not operated every day for twenty years, by fault of the company, a penalty of $10 a day was put on.
WIND AND WAVE
-Capt. Corrigan will canvas the deck of the str. Passport.
-The schr. Kate cleared for Picton today, to load grain for Kingston.
-The tug Hall came up yesterday from Montreal, with two light barges.
-The barge Acadia has left Davis' drydock. She had a new bottom put in.
-Richardson & Sons are having their elevator lined up for the season's business.
-The barge Cavalier will be towed to Toledo to load timber for Garden Island.
-The schr. Nellie Hunter arrived from Charlotte yesterday, with coal for R. Crawford.
-The props Elfimeer and St. Lawrence cleared for up the lake on Saturday afternoon.
-The steam-barge King Ben did not get away from Oswego until 9 o'clock Saturday night.
-Richardson & Sons sent two pinflats to Montreal this morning loaded with oats, buckwheat and peas.
-The strs. Persia, Montreal; Cuba, Prescott; and Ocean, Hamilton, are the arrivals at Swift's dock today.
-The str. Surrey and consort Arabian arrived on Saturday night, from Duluth, with 125,000 bushels of wheat.
-The steambarge Elfimeer was obliged to go to Prescott to be unloaded. The M.T. Co. had no barges up here.
-The schr. Fabiola arrived in at Swift's dock last night, from Oswego, with coal. She had lumber on the last trip.
-The str. Bothnia is unloading timber at Garden Island. She came from Toledo, and will return there tonight.
-Capt. John McComisky has arrived back with the schr. Katie Eccles. He took her down the river to Prescott and back.
-Capt. Craig's new boat, being built at Portsmouth, will be ready for grain this month. He has not yet decided upon a name for it.
-The barge Jennie left the Government dry-dock yesterday, and the barge Harvest entered afterwards to receive general repairs.
-The str. James Swift broke her wheel coming up in the canal in the fog the last trip. She is obliged to make the present trip with three blades.
-The schr. Katie Eccles was obliged to lie up for fifty-two hours under the Sisters on her way to Prescott. A head-wind was the cause of the delay.
-At present there are not many sailing yachts in the city to be entered in the races to be held here under the auspices of the Royal Canadian Yacht Club.
-The cargo of the str. Water Lily did not belong to Richardson & Sons, as reported. It belonged to McDonald & Robbs. The Water Lily went down near Montreal the other day.
-The prop. Glengarry and barge Minnedosa arrived in on Saturday afternoon. They came from Fort William with 90,000 bushels of wheat. They cleared again this morning for Fort William.
Welland Canal Report - Port Colborne, May 9th - Passed down last night - Str. Arabian, Fort William to Montreal, wheat. Arrived down today to lock down at midnight tonight - str. W.G. Morley and barge Ewen, Duluth to Kingston, wheat; Algonquin, Fort William to Prescott, wheat. Passed up - nothing.