Kansas City, Mo., June 18th, 1912.

To the Right Honorable Lord Monson, Chairman,
Bondholdersâ Committee,
The Kansas City, Mexico & Orient Railway Company,
Pinners Hall, Austin Friars, London, E.C. England.

Dear Sir:-

I have read the preliminary reports of Mr. F. A. Molitor, civil engineer, and Mr. George H. Ross, traffic expert, on the Kansas City, Mexico & Orient Railway, and the Kansas City, Outer Belt & Electric Railroad, and in as much as their opinions and recommendations concerning these properties and their future differ from mine in regard to certain important features, I deem it proper that I should outline my views on these subjects for the benefit of the Reorganization Committee.

It is with great reluctance that I undertake a criticism of these reports because of the fact that my connection with these properties as their operating head and my well known faith in their future may influence the members of the Committee to discount any statements that I may make concerning them.

I believe, however, that my many years of experience in operating western railways, in observing new lines constantly reaching out into the ãbarren wastesä of this western country when their prospects for the future were evident only to the most farsighted, in seeing these lines steadily prosper and grow into

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large systems, and in studying and measuring the factors upon which their success depended, have fully qualified me to analyze some of the problems now presented to the Reorganization Committee and I offer my views for such consideration as the Committee may see fit to give them.

Having only the brief outlines of the opinions of Messrs. Molitor and Ross, as expressed in their preliminary reports, as the basis for judging the character of their detail reports, it is probable that I may cover unnecessary ground in this statement, hence I will discuss only briefly the physical features of t he K. C., M. & O. Railway and the character of its territory but it is my desire to be comprehensive regarding its territory but it is my desire to be comprehensive regarding its prospective earning power.

Since I regard the K.C., O.B. & E.R.R. as a necessary adjunct of the K.C.,M.&O. Railway, when extended to Kansas City, I wish first to set forth the more important reasons for the early completion of that line.

KCOB&E report Transcribed in altered form for the web by Russell Crump

INDEX

Introduction..................................................1
Kansas City, Outer Belt & Electric R.R........................3
	Estimate of Cost.........2 maps.......................7
	Map......................1 map........................8
	Newspaper clippings.....1 map....................9 &10

Kansas City, Mexico & Orient Ry.  
(to be transcribed some future date).....................11-127