Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1890-11-21
A Pulp and Paper Mill.
To the Editors:

| was compelled to leave for Chi
cago the day following our public
meeting held last week to hear the re-
port of the gentlemen who have visited
us to investigate our resources for the
establishment of the above enterprises.
in our midst. Those who were present
at that meeting and Others who have
read your last issue, know the con-
illusions of those gentlemen.
l have since met them in Chicago.
and in reviewing their work, they be
came more firmly convinced in the
correctness of their reports.
l am sure from the facts ana figures
presented, that we do not fully realize
the advantages we have in success
fully operating this business. The
first step is to organize a Company
with a sufficient capital TO launch the
ship. \ capital of 100000 should be
raised, although a less amount would
be sufficient. The question is, can it
be raised? l believe it can. especially
if the plan suggested at the meeting
that the city offer bonus of $4,000
to any Company that will float the
enterprise is approved. Win our citi-
zens make the offer?
If it can be arranged on easy pay
ments, l believe they will, and this
plan is suggested Issue bonds for
$4,000 payable in sums of $1,000 a
year after five years at five per cent in
terest. This would make the pay
ment of the first bond in five years and
the last in fifteen years from date, in
terest to be paid annually. For four
years we would be required TO pay but
$4,000 per year as interest, on the
fifth year we would pay the $4,000 in
terest and the first 100000 bond,
a total of Sl500.00 This
would be the largest amount we would
pay at any one time.
The assessment valuation of our
city is in the neighborhoOd of $600,000,-
90. Upon that basis, the largest tax
payI bic in any one year will be S2.5U
for every 100000 of assessment. 1t
seems to me that no citizen who has
the least spark OF public spirit within
him, but would be willing to contrI-
butte this small amount to the promo
ton of an enterprise that will give
to fifty persons upon the
plant besides opening a market for wood
that is at pre- sent without maket and
a drug upon our local commerce. A s.
Is year bond would be more easily |
of than one of a shorter |
period, besides it would give the young |
blood of our city (who so much desire |
these enterprises), an opportunity to
pay the debt.
At the next meeting of the City |
Council, | shall present the subject to |
that body and ask them to give their
official sanction to the calling of a |
special election to vote bonds to the |
amount of 100000 as a bonus to |
any Company that will start such an
as we have been conSid- |
eTing, or any other business that will |
10 us a like amount of good. If any |
Of our citizens think this plan is not |
The right one, or can suggest improve
ments, hope they will be present and
give their views. We want a free eX-
change of ideas upon the subject and |
10 not wish to act unWisely or take |
any undue advantages whatever. L
shall also be pleased to give any in
to those who have money
% invest in an enterprise that will
show good profit on their invest
nent. The entire capital stock ought
20 be taken by our citizens but we
may be compelled to 60 outside to
the organization.
Yours Respectfully,
PHILIP ALLEN, JR.