The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-02-18

The project to organize an association of
real estate owners, for the purpose of in
ducing the location here of manufacturing
enterprises, is, it sc ems, drawing to head.
The delay that has marked this consum-
nation was caused in a large measure by
the intense interest of taese most relied
upon IN certain measures before the legis-
lature, which virtually precluded consid-
Grafton of anything on which action could
be delayed.
1t is probable that meeting will be
called to take steps looking to an organiza-
ton within the next few days unless new
causes for delay arise. About all the lead
ing real estate owners have been seen and
pronounced themselves heartily in favor
OF the plan, some OF them even proclaim
ing that the operations might be pushed
on u more extensive scale than that pro-
posed Col. John Overton, Jr. has but
one doubt about the success of the asso.
citation in its aims, that being the 81. 80
rate OF taxation in the city limits rs against
lower rates elsewhere. The Colonel, how
ever, does not propose 10 be found outside
OF any organization that holds out reason
able assurances Of advancing the popula-
ton and wealth OF the city.
SO much has been said about the plan
and purposes of the organization, that they
are now pretty generally understood.
Those owning real estate Though nobody
is eXcluded) simply club together, resolve
to stand ms much MS 10 per cent. sub.
scription on their property, at it, assessed
value, 10 be expended for regular stock in
such manufacturing concerns us may be
willing TO locate here, desire the local co.
operation aud assistance, and the associa-
tons board OF directors may elect TO in
vest in. No money is TO be paid on the
subscriptions until the institution, the
projectors OF which have applied for and
been voted aid, aud the call is o0iciall v
made. In short, the assured concern
determines the payment and amount~lhc
main efforts at first are in the direction
OF making known 10 the world the indis-
putable manifold advantages of this city
Tor such enterprises. To this end il is pro.
posed 10 elect a Secretary, whose duty il
shall be 10 compile every fact establishing
the claim, put them in shape for broad.
east circulation, and see 10 1t that the cir
Nuldlibh ~ flNtus Nlpu lllt ruuNlhk lnua
made, and the further fact that the Secro-
tary's Office shall be headquarters for those
who come on tour OF inspection, and the
source from which enlightenment must
come when desired, II is confidently ex
pectcd that few manufacturing concern,
removed 10 or established in Memphis
would care Tor the prOilered local assist
ance. The proprietors, recognizing
the eligibility OF the point, NO
only for its transportation facilities, bu
the inexhaustible supply Of raw materia
In close proximity, would prefer 10 own
aud control absolutely their own business
In all such cases there would be no cal
for any portion OF the subscriptions held
in readiness.
An APPEAL reporter was reliably In
formed yesterday that a gentleman woul,
arrive in Memphis within the next tel
DAYS with n view 10 establish a mann
moth paper mill. lie brings 10000 4
put into the enterprise, hoping Ia fin,
here capitalists who will increase the capi
tai stock 10 $500, 900, in order to make III,
concern up 10 the modern standard an,
equal 10 any business demands.