Little Falls transcript. [volume] (Little Falls, Morrison County, Minn.) 1876-1894, 1891-05-01
PUBLIC MEETING.
Citizens and Chamber Of Commerce
Meet and Take Important Ac.
ton.
Committees Appointed to Report or
Mills, and Change Subscriptions
Into Notes.

Committees Appointed to Report 0
Mills, and Change Subscriptions
Into Notes.
A meeting of the citizens of Littl
Falls and members of the Chambe
of Commerce was held on Monda.
evening last, to consider matters ii
regard to the syndicate bonus. TIL
meeting was called to order by F. x
Lafond, and the officers of tn
Chamber of Commerce acted as Of
t1cers of the meeting. 1t was moved
that a committee of three be ap
pointed to report upon the construc
ton of the saw mills by the syndi
cate 1.-THE Pine Tree Lumber Co.. an(
that a report be made as to thu
capacity of the mills on or before
April l, 1892, and that the COMMITTEES
have authority to procure informa
ton in regard to the mills, at the ex
pense of the Chamber. The motion
was carried, and the chair asked to
have time to make the appoint.
ment.
1t was then moved that a com.
mittee be appointed to call upon the
subscribers to the bonus fund and
get the subscriptions into notes, to
be placed in escrow in the hands OF
c. A. Lindbergh, to be paid to the
syndicate on April /, 1892, if the mills
are completed with an annual capac-
ity of 100000 feet. The motion
was carried, and the chair appointed
the following committee under the
above motion: NJ. NJ, Williams,
E. Rothwell, John Wetzel, Peter
Medved, j. w. Berg and John Ker-
rich.
After some discussion OF the Denis
bonus matter, it was decided that
the committee should make their
final report at the annual meeting In
May. The meeting then adjourned.
Mr.. LafOnd has, since the melting,
appointed the following committee
to report on the completion of the
mill: J. H. Rhodes, H. F. Schleusener
and j. W. Close.
The proposition to change the sub
scriptions into notes should meet
with ready response, and the whole
$4,000 should thus be placed in es-
crow, so that its delivery to the
company would be prompt upon the
completion OF the mill and the arrival
Of the date april 2, 1922 for pay
ment. 1t is customary in such mat
tiers, where one side must make q
heavy investment, as the Pine Tree
company has done and is doing, for
the other party to place his promises
in unquestionable and positive shape.
The promises of land bonuses were
promptly followed by deeds Of the
lands, placed in escrow, and all other
pledges should be placed in the same
position. 1t is well known the bonds
promised the Water Power company
for the making OF their great i'm
provements were issued and placed
in escrow in the First National bank
OF St. Paul long before the work was
completed, and when the work was
done the bonds were promptly turn
ed over. The land bonuses that were
promised at that time were decided
soon after the improvements began,
and the deeds placed in escrow. 1t is
the usual and proper custom, when a
bonus is promised. to first obtain the
pledges and then secure the consider
atoms and place them in escrow,
awaiting the fulfillment of the condi-
tons that will transfer title to the
party who earns it. There is no pos
sible danger in placing the notes in
escrow, as they will remain the prop
erty of the maker until they are earn
ed by the Pine Tree company, and
the company has a right to expect
that the promises made will be plac-
ed in this more business like cOndi-
ton of fulfillment. We trust the peO-
pie who SO promptly and generously
joined in the subscription will be
equally ready to meet the reasonable
requests of the committee whose duty
it is made to place the bonus matter
in the proper condition to make it
fair to all parties.
Standard German Prints only 10