St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-05


and the rdmaining two-thirds should be
invested in companies which should
pay an average Of only 10 per cent,
this company could still pay its pre-
ferred shares per cent and its common
stock ~ per cent.
What we need in st. Paul Is filing
up OF the second and third stories OF
buildings which were formerly used for
offices, which have been made vacant
by the superior accommodations offered
10y the new buildings, with manufacto-
ries of the class have named. requlr-
ing little power but furnishing en-
ployment and livelihood for vast
number of men and women.
There are many other considerations
would like to urge had the time tc
do so.
do not claim that the business is
without risk. What l do claim is that
it is as free from risk as any mercantile
or banking business, and promises to be
equally as profitable.
| further claim that the risk, whatever
it is, falls upon the common stock, and
l, therefore. think it should be taken by
Men of Affairs,
who fully understand the risk, and that
the first directors should be the princi-
pal holders of this class of stock.
AS to the preferred, when the common
has been fully subscribed l consider it
safe enough to offer to the widows and
orphans in small lots, aud to be recon-
mended to any and all as safe and
profitable investment. 1t should be
taken by the same class of people who
furnish money to the building associa-
TORS. and in the same way. and Will
prove equally as satisfactory.
Hence. repeat that TO make this en-
terpriSe the grand success it is desired
the preferred stock must be scattered
among the people. | would be glad to
see it taken up in lots OF i've shares OF
less. l would like to see it in the
hands of the laborers or mechanics. of
servants of doctors, lawyers, architects
and the clergy, of livery stable owners.
of fuel dealers, retailers and real eS-
tate owners. There is an active class
in this community which l especially
desire to see subscribers, and who Will
Intimately receive special benefit from
this movement. / refer to the real eS-
tate and loan agents.
Within the last few years the English
people, who seem to have more money
to invest, and who have given the priu-
ciples of investment more study than
any other nation, have taken to the Or
ganiZation Of investment companies for
the purpose of averaging risks, which
is one of the main features of the pro
posed company. to such an extent that
there almost seem to be no Individual
investors any more in England.
The only essential difference between
the proposed company and the English
investment or trust company is that
this company proposes to invest its cap
ital in industries local to St. Paul, while
the English companies have no restric-
tions as to locality. This restriction as
to locality, and possibly as to the class
of investments, is the only novelty there
is about it. Every other principle
has been tried and proven, and it is
probably safe to say that such COM
panieS are more numerous in London
than banks.
Mr.. Sticknev in concluding his re-
marks stated that already 1852, 900 of the
common stock had been subscribed.
Secretary Phelps said that it had been
coming in lately at the rate of $4,000
per day. E. w. Peet had only one OBJ
lection to the proposed company. 1t
was that there was not enough OF the
stock, but President Stickney explained
that this was but the trial company.
They would multiply when the success
of this had been demonstrated. The
members present seemed pleased with
the idea, and general expression to that
effect were made. The stock subscribed
is held as follows:
These Are Interested:
A. B. Stickney, A II. Wilder, William
Dawson Jr Albert Scheffer, $4,000 each;
Bernard Kuhl Stone & Morton, d. s. B.
Johnston, 5000 each;E R. Gilman, Coch--
ran & Walsh, Henry A. Castle, Greenleaf
~ nr;e A11ar
E. A. Hendrickson, Bushnell & Bushnell, R.
P. Lewis, E. W. Winter, G. Livingston,
Moves Bros. d Cutler, $4,000 each: Smith
4 Taylor Marvin & Cammack, j. j. Nc
Blair, M D. Miller. D. D. Merrill, E. 6: Rog-
ers George Thompson. c: A. B. Wefde.
George Benz d. Sons, Egbert G. Handy,
So, 900 EACH Il. j. Hodgson. A. M; Lawton;
Joseph R. Weide, Charles y; Bell, $1,000
each; Fl. S. Fairchild, $1,000; Charles D.
Flandrau, $1,000; T. Driscoll Jr., W. L.
Marshall. John Espy, Theodore B. Meyers,
E. E. Scribner, Paul Merwin, 81 ,090 each;
Herman Scheffer, G. Fl. Hosmer, 5000 each:
Fred Thoele, 500.
The subscription list was opened yes
terdav morning and the following addI-
tional subscriptions were made:
e. w. Peet, S., 900; C. B. Gilbert 81, 600;
| C. II. Lienau, So 900; Goodyear Rubber COM
pany, So. 800; K. c. jefferson, So, 600; M. B.
| Curry, $1,000; E. V. Smalley. $1,000; S.
| Simonton, 50, 600; James Middleton, 81, OOO;
T. Reardon. $1,000: j. D. Ludden, $4,000;
]. L. Lowering, $4,000; W. A. Somers,
| $1,000; L. w. Rundlett, $1,000: William
| Foulke, $1,000; j. W. Bishop, $1,000; Will
! lam L1ndeke, S., 900; st. Paul Brass works,
| $1,000; Capt. Bourne, $1,000; M. A.
| Hornsby. $1,000; II. P. Rugg, ST. 900; c. G.
Andrews, 5000; s. B. Woolworth, $4,000;
Rheaume d St. Pierre, ST, 900; R. j. Markoe,
| $500; Chester A. Griggs, 500; Michaud
Bros, $1,000; E. o. Holman, 1000; John
~ patn I!nr
Peter Berkey, $4,000: E. f. Batten, $500;
j. NJ Carlson $500; George Palmes, 81 900;
II. Hall, 81, 900; P. j. Hennessey. 81, O0u: R.
| c. Wright, $500; Stanley E. Markoe $500;
| w. +. Phelps, $500; DR.. Willard, S2,50G;
| This adds almost SSS COO to the list.