The Superior times. [volume] (Superior, Wis.) 1870-1912, 1889-04-27
THE BREAK 0 DAY.
Organization Of the Superior
Consolidated Company.
Over Half of the Original Town
Plat Pledged Already.
I'm Union there is Strength
And a Certainty Of Good
Profits.
Talk About Elevators, Factory
And Mill Projects, and
The New Hotel.
An Interesting Meeting of the
Superior Chamber Of
Commerce.

great Importance to the eastern half
of our city
The Secretary, for the committee
having the elevator project III charge,
reported correspondence had and that
the gentleman with whom negotiations
are pending is To visit Superior i'll June
and viii remain here most of the sum
mer
Mr.. James Bardon presented and
read letter from parties proposing to
establish sash and blind factory here,
explaining their delay in coming.
The leading feature of the meeting
was a lengthy explanation and discus
sion Of the
PLAN OF CONSOLIDATION
OF property interests III Superior East.
Those taking part in the discussion
were Messrs. James Bardon, H. S.
Walbrldge, of Toledo, o., ID. +. Rob
erts, c. l.. Catlin, II. E. Laflitte and
ii. S. Butler.
ganization of the Superior Land Com
pany was projected, nearly year ago,
it was proposed to unite not less than
one-third of the plated property of
Superior, but to complete the organiza-
ton and through it endeavor to pro-
tect and build up Superior although
only one-third of the property could be
secured. The plan had, however, been
received with greater favor than was
eXpected-or, rather, had met with
fewer distractions than were antici-
pated-and already over one-half of
the plated lands in Superior was
pledged to be exchanged, at an APP
praised valuation, for stock III the com
pany. The company will probably be
incorporated in this State and be
named THE Superior Consolidated
Company lie read list of SubScrib
erS to the agreement, including the
Northern Pacific Railway Company,
James Stinson, of Chicago, III. S. Wal
bridge, of Toledo, James Bardon, Ed
mund Rice, ST., Senator Beck, the
breckenridge heirs, and the Corcoran
Macy, ThOS. A. Scott, Dawson and
Riggs estates, with others-the aggre-
gate of property subscribed being equal
to about $4,000 lots, not including any
acreage outside of the plat of Superior.
The property subscribed is to be ap-
praised by committee of the owners,
or by persons selected by the owners,
| under regulations which will require
an equal appraiSement, according to
location and other elements of value,
at moderate valuations but not less
than present selling values, 50 far as
they can be regarded as established.
AS much as possible the oWnerShipS
would be concealed from the apprais-
erS though the rule that like must be
valued alike, would make this detail
of minor Importance. The appraisal
must necessarily be fair and equal and
! just to all the owners. The cOmpany'S
stock would be issued to each one sub
| scribing property to the amount of the
! appraisal Of his property. The capital
stock would probably be fixed accord
ing to the total valuation of property
/ subscribed, SO as to leave a considera-
! BILE sum Of treasury stock to be sold for
! cash or exchanged for outside property
/ when either is needed tor promoting
& l,n e., at,
! business enterprises in this part of the
/ city. At first it was proposed to have
/ the directory composed Of enough
! members to give one representative to
each original share, or one-twenty-
! seventh part Of the original town plat.
! At that time they calculated upon con
/ solidating only about One-third of the
/ plated property; but present prospects
are it would require too large direc-
| tory to give one for each original share
/ or its equivalent. In any event, how
ever, the small owners will certainly be
I represented among the directors. Prob
! ably there will be two or three resident
/ directors and possibly majority of the
executive committee may be located
! here. The managing officer, having
( discretionary authority for all ordina-
( ry transactions of the company, will
have his Off and residence in Super
ior. \ meeting of the subscribers to
/ stock, for organizing the company, is
! to be held in New York city on the
I 18th of May In the meantime Mr..
/ Arson Maltby, of New York, one of
the active promoters of the project,
| will visit owners of Superior property
/ living in Southern and Western states
and endeavor to bring them all into
the company. If anything is lacking
to the most complete success of the
project 1t IS the cooperation of resi-
dent owners of property, who have not
| until now been asked to take hold, be.
cause they could not move until the
large owners among residents were
first secured. The resident owners, al
though their holdings are comparative
~ small, can exercise a beneficial influ
ence upon nonresident owners. II
they show their faith and their public
spirit by exchanging their unimproved
property for stock, they will give non
resident owners confidence in this plan
of consolidating interests Heretofore
when urging non-residents to Offer
their Superior property for sale, he wa:
p r4an agl-A oil l.
people of Superior sell your lots anC
lands" To this he had answered thai
the Superior property of resident own
ers was all they had; if they sold i
they would be left without interest il