The great West. [volume] (St. Paul, Minn.) 1889-18??, 1890-06-06
MINNEAPOLIS, May 26th, Is:

MINNEAPOLIS, May 10Th, 1890.
EDITOR GREAT WEST:
In your issue OF May 23rd I no.
ticed a letter from l. Strandness, Sec
rotary Minnewaska alliance, express
ing anxiety for, and impatient on &C
count of delay in organizing our pur-
chasing department on the Dakota
plan. I am glad to learn this and
hope there are many more alliances
just as anxious and just as impa-
tient. Perhaps little history OF
the Dakota plan and a little COM
parison may assist us in developing
the Minnesota agency. In the first
place, at our annual session in Jan
uary, 1886, we appointed our pur
chasing agent, thinking that was
sufficient to enable us to transact
business. We were able to handle
coal and Irvine but that was about
all. Manufacturers would not trade
with us because we had no financial
standing? Our purchasing agent
simply lost his time. Still he was
sanguine and hoped to do better an
other year, but urged Incorporation
at our annual session in December OF
1886. We were not yet ready and
the matter went over. Another
seasons effort showed the utter USE
lessness of continuing on that basis,
so in July of 1887 the executive com
mittee and number of our earnest
workers met for the purpose OF TAX
ing the necessary steps towards in
corporation, which was done. Ar
ticles of incorporation were prepared
and a charter. applied for. No bust
ness to be commenced until $780,
900 in stock had been subscribed
The terms to subscribers we're made
easy as possible, the shares were
$1,000 each and 20 per cent. only to
be paid in cash, the balance in a
nOn-interest bearing note, to be
called in when needed. The terms be-
ing so easy and the need so great it
seemed to us, as it will to your read
ers, that the necessary capital would
have been subscribed in a very short
time The officers of the alliance
and the officers and directors of the
new company made this their special
work several of us taking the lecture
field for this purpose and yet at our
annual session in December following
we were still short about $4,000,
which thirteen of us then subscribed
to enable the company to commence
business. 1t was two years from the
time our purchasing agent was ap-
pointed before we were ready for
business. Now for Minnesota, your
business agent was appointed April
LIST, fortunately we had the Alliance
Elevator company as nucleus up
on which to build, but with no cap
ital to spare from present business.
| pointed out to the executive COM
mittee the necessity for increased
capital to enable us to do the in
creased business expected of us.
have also through your columns
called the attention Of the members
of the alliance to the necessity of
prompt action. l am not advised as
to whether the officers and organ
izers are making a special effort in
this direction or not. l do know
that not one share of stock has yet
been subscribed. The shares are ten
dollars each. If members cannot
spare the cash now they can send in
their note payable at their earliest
convenience. I am anxious but not
impatient. Will Brother Strandness
and all who feel as he does please
take the hint. Yours truly,
III. L. LOUCKs.
State Business Agent.
EDITOR GREAT WEST.