NARRATIVES OF SASKATOON

1882-1912

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to accept three month notes in settlement of account. Major Acheson their agent, walked into my office in June 1908 and said, "Jim, can we have your men to operate the electric light plant?" I said, "What do you mean?," He said: "I have instructions from the Allis Chalmers Company to take over this plant and operate and collect revenue until such time as their account is paid and I thought we might as well have your men if you do not mind." I said: "Major Acheson, you will never operate this plant if I can prevent it, but if I cannot, you can have the men." He said he could only give me until twelve o'clock I got Mr. F. Engen to go with me and inside of two hours we had the entire account of $12,OOO.00 cash and this was turned over to Acheson, the Company's solicitor. I gave the men from whom I got the money the City's notes to be paid when we could realize on the debentures. I think that this is a striking fact tending to show the difficulties we had to go through but especially to bring out and show the co-perative spirit that existed in this community at that time and the faith the men had in its future. During the years 1906 and 1907 and 1908 the Saskatoon Agricultural Association held their exhibitions during the month of September on the City Park grounds. While they were permitted the use of the ground for the two days of the exhibition, they were not permitted to erect permanent buildings. Each year they had to erect temporary buildings to house the exhibits. After the 1907 Fair the directors reported to the City Council that they were $2,000.00 short of money required to pay prizes and other expenses connected with their exhibitions, with the result the City Council voted that $2,000.00 he granted the Exhibition Association. After the 1908 Exhibition the Council was again approached by the Exhibition officers and this time they showed a deficit of $4,000.00 needed to pay prizes, etc. his increased deficit over the previous year caused the City Council some apprehension as to where we would land in the future. The Council felt we could not allow the Exhibition Association prizes to go unpaid; if we did it would be a serious reflection on the City. The Council informed the Ex- hibition officers that they would grant the $4,000.00 required to pay their prizes and would appoint a Committee of the Council to enquire into how to put the Exhibition on such a footing that it would, in time, become self sustaining. On enquiry it was found that the Exhibition Association's de- ficits were caused mainly by erecting temporary buildings. The Committee reported to the Council, recommending that a money bylaw be submitted to the people calling for $30,000.OG for the purchase of suitable grounds and the erecting of necessary buildings. The Committee's recommendation was ac- cepted by the Council. An option was secured at $10,00000 for eighty acres. The bylaw was submitted in December, 1908, and approved by the voters. This was the beginning of what has since grown into one of our great institutions and is known all over Canada as one of the great Exhibi- tions of our Dominion. In this year the City debentures were finally sold by J. Stratton who made a London in 1008. He not only sold $250,000.00 but during the 1907 election we had passed another $250,000.00, but Mr. Stratton who had a knowledge of the difficulties succeeded in marketing the whole $500,000.00 of our debentures. This he did by having them changed to interest bearing bonds, repayment being provided for by a sinking fund. We were in such haste to get the bonds out, the treasurer and myself made a trip to Ot- tawa and we were signing the bonds as they came off the press and took them to the Royal Trust and sent them over to London. They were the first bonds marketed from the time in 1903 when we marketed the $10,000.00. There had not been any bonds marketed until the $50O,000.0O bonds in 1908. They were, I think, for thirty years. The sale of these bonds tided the City over the period of financial depression and put our public utilities upon their feet. In 1908 the Canadian Pacific Railway had completed the line from Elk- horn into Saskatoon. A. H. Hanson and myself went to Winnipeg with the idea of bringing a number of business men in Winnipeg to Saskatoon to see the City and celebrate the opening of the line. We worked down there for nearly two weeks and were successful in bringing the first business men's Page 93

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